Sports betting has taken over the world. From the US all the way to Europe, millions of people place bets on sports every single week. Whether you want to bet on NBA basketball games or NFL football games, there’s something for everyone, which is what makes this activity so appealing to both men and women.
From the outside looking in, sports betting can seem a little complicated and overwhelming. However, in reality it is all pretty simple. Once you get the hang of the mathematics behind the odds as well as the different types of bets you can place, then it’s a breeze.
To help you at the start of your sports betting journey, here are 5 essential tips to follow.
1. Use a Sports Betting Model for More Successful Bets
When it comes to modern-day sports betting, it’s all about making bets that are based on data. This is especially important when it comes to basketball betting, where there are so many different variables involved in each game. Luckily, beginner bettors can use sports betting models to assist them. In a nutshell, a college basketball betting model analyses player and team data to provide bettors with realistic, high-probability predictions. An example of this would be which team you should bet on to win – it’s a simple concept.
Sports betting models aren’t just popular with beginners. They’re also very popular with professional sports bettors who want access to the best and most knowledgeable betting picks.
2. Stick to Simple Bets at the Beginning
As a beginner, it’s vital that you stick to simple bets. Two of the simplest bets that you can place are:
Moneyline bets are bets on which team you think will win. Let’s say the LA Lakers are facing the Chicago Bulls this weekend. If you think the Lakers will win, then you can check the odds and place a simple moneyline bet on the Lakers to be victorious.
An over or under bet works like this: the bookmakers make a prediction on a specific statistic (e.g., the Lakers will score 110 points) and you must predict whether the outcome will be above or below the prediction.
Once you become more experienced, you can then progress into slightly more complex sports bets, such as parlay bets (which is when multiple bets are tied together).
3. Bet with a Budget
Betting with a budget is an important rule to always live by.
For each betting session you have, make sure you have a predetermined budget. You can choose your budget based on your disposable income, which will enable you to figure out how much money you can reasonably afford to lose if the bets don’t go in your favor. Whether you play with a $10 or $20 budget, stick with it at all times!
4. Don’t Chase Losses
Next, don’t chase losses. Sometimes, you might lose a few bets in a row – this is completely normal. Instead, regain your focus and avoid chasing losses. Later on in the week, you can return to betting as normal and leave your losses in the past. Fingers-crossed, a winning streak will be waiting around the corner for you.
5. Keep Growing Your Knowledge
Each season, keep growing your knowledge surrounding:
- Team stats
- Player stats
- Win/loss records
- Betting trends
The more you grow your knowledge, the smarter your bets will be.