Sports betting is becoming more and more popular. However, those who are not yet familiar with the subject matter usually have to learn a lot before they develop an understanding of the basic facts. That’s why we have decided to compile an overview of the five most important tips for beginners to help newcomers to the world of sports betting.
At the beginning the basic knowledge should be built up
If you want to deal intensively with sports betting, you should choose a sport you are already familiar with. So it is of little use for a fan of tennis if he is from now on intensively engaged in soccer betting to bet on this. It makes much more sense if the existing knowledge is sensibly expanded to find a niche. But not only the knowledge about the sport to bet on is of great importance. The basics of sports betting should also be understood. For example, beginners should deal with the origins of betting odds and the associated development. In addition, regulatory aspects and betting tax play a significant role. This may sound irrelevant at first, as it has nothing to do with the actual sports betting. However, the edges of sports betting are usually very low, so that a betting tax or a deposit fee can considerably reduce the advantage of sports betting or even turn it into a negative one. That is why players should also inform themselves about sports betting off their betting slip.
To correctly evaluate the bonus offers of the providers
If you have never placed a sports bet before in your life, you have the advantage that you can still claim a new customer bonus from all bookmakers. Often several hundred euros are advertised, which are added to the first deposit. But of course the betting providers have nothing to give away. The bonuses are therefore subject to certain restrictions. For example, players must wager their bonus several times at certain minimum odds before it is at their free disposal and can be paid out. A minimum wagering requirement of 3 with a minimum odds of 2.0 is considered normal, so for a bonus of $100, the player would have to place a total of at least $300 on games with odds of 2.0 each to clear the bonus. Such sales conditions are considered fair. Unfortunately, some providers set a minimum wagering requirement of 10 or even higher or give players only a few days to clear the bonus.
For this reason, new players in particular should read the bonus terms and conditions and the terms and conditions carefully and consider whether they consider unlocking the bonus to be realistic. It makes sense if players do not immediately tie up their entire bankroll in a single bonus, as this will lead to a cluster risk. Often risky bets must be placed to clear a bonus in a timely manner.
The correct handling of the casino and other games of chance
Sports weather will sooner or later come into contact with other games of chance and online casinos. Unlike sports betting, it is almost impossible to gain an advantage in a casino. Online casinos should therefore never be visited with the bankroll for sports betting. Players should always deposit separate money and clearly separate it from their bankroll in order not to jeopardize their success in the sports betting sector. After a day with many unluckily lost bets, it may be tempting to visit a blackjack table or slot machine to make up for the losses. In some cases this may even work, but in the long run, the player will go bankrupt with such behavior.
Players should therefore be aware that they may be on Tilt after a losing day. If they can recognize this, but the damage is averted. Even though it is hard, after a significant loss the PC should be shut down and a distraction, for example the gym or going to a restaurant, should be sought.
Using the best odds for betting
If you want to earn money with sports betting in the long run, you should always use the best odds. If you are too lazy to compare and are therefore willing to bet with a worse odds, you will lose a lot of money in the long run. Even a difference of a few percentage points can make a big difference in the long run.
The right bankroll management
The bankroll, the capital available for sports betting, is the working tool of every sports bettor. It is imperative to have a healthy bankroll in order to place bets successfully and permanently. Large risks, which can put the bankroll in serious danger, must therefore be avoided. For beginners, the 5-percent rule is highly recommended. It states that at no time should more than 5% of the capital be placed on a single bet. So if you have a bankroll of 500$, you should not risk more than 25$ on a single bet. If things go badly and the bankroll is only 400$, the limit should be adjusted as well. Future bets should therefore be no more than 20$. While it may be annoying if the stakes have to be reduced in a loss phase, there is no other way to protect the bankroll without further deposits.
This rule is intended to protect the player from overestimating himself and from supposedly safe bets. Although there are bets with very good chances of success. Nevertheless, these bets have a certain risk of loss, which is not often considered, but should still be taken into account. In order to increase the bankroll at the beginning a little, bonus offers can be quite advisable. Players should read the conditions very carefully and choose the provider carefully. Bonus credits can be used with a looser bankroll management. These higher stakes just must not affect the actual bankroll.
Our conclusion to the 5 tips for beginners in sports betting
Anyone who wants to get into the sports betting business should not rush into anything. It is important that new sports betting bettors first deal intensively with the topic before they deposit money and place bets. This is the only way to avoid the numerous pitfalls that can potentially cost players a lot of money. Sports bettors who would like to play in the casino on the side should create a separate account with another bookmaker or online casino to avoid mixing their bankroll and their play money. In addition, it is important that beginners in particular adhere very closely to their once established bankroll management. Of course, our guidelines do not necessarily have to be implemented in exactly the same way, as each player has his or her own preferences and preferences. However, once a rule has been set, it should not be changed lightly on a whim.