If you’re new to betting, then it’s important to know that there are ways you can maximise your chances of success; that’s why we have complied the best betting tips for dummies for you. However, even the most experienced sports bettor will make mistakes from time to time. Not every bet you make will win. It’s obvious, but you learn and move on. However, as you know, betting mistakes are costly; they are mistakes you literally can’t afford to keep making. With this in mind, you need to try and make as few unforced errors as possible.
If you’re a newbie, remember not to try and over-complicate your betting. Experienced people can play around with it a bit more, but to start, keep it simple. You cannot try and be too clever when you first start out. There are some very interesting and complex strategies out there, but avoid them to start with. Focus on the basics. Don’t run before you can walk. Here are some tips to get your online sports betting off to the best start possible; read on for the best online sports betting tips for beginners.
Stick to your Budget
This is the most important rule. You must have a budget and you must stick to it rigidly. You won’t win every bet, so you need to only gamble with money you have budgeted to part with. Especially at the beginning, when you may find yourself losing more than you would like. This is just at the beginning because the more you bet; the more likely you are to adopt winning strategies. The losing at the beginning is a phase to get through.
Losing to Win
Sportsbetting isn’t always easy; you do need to get some knowledge of your sport. You then need to combine your knowledge with betting experience. This could mean losing money at the beginning. It is because of this you need to budget. This could be considered an investment for future profits, but budget your investment. Only ever bet what you can afford to lose. There are several ways to budget – per game, per week, per month. Whatever way you choose is fine, but stick to it. Be aware that if you budget per month and use it all up at the beginning, this will mean holding back, so you need to show self-restraint.
Theoretically, you should never lose your entire bankroll if you are careful. To avoid total loss we suggest the following:
- Set a daily/weekly/monthly budget.
- Limit your individual bets.
- Never chase a loss.
Take Your Time
Don’t panic if you don’t reap the rewards immediately. Be patient. Successful online sportsbetting takes time to master – if it was easy to keep winning, everyone would do it. This means you won’t be a world-class bettor overnight. The top sports bettors are those who managed to ride the storm and come out the other side. Sportsbetting requires you to think long-term rather than short-term. You need to focus on your long term goal and work towards it.
Use Online Sportsbooks
Most people use online sportsbooks anyway, as they are quick and convenient; much easier than heading to the high street and finding a store. However, it’s not just the accessibility that makes this a more viable option:
- It’s safer than carrying a load of wedge around.
- You get more competitive odds and prices.
- There are more bonuses and rewards to benefit from.
Having said that, you need to use the best online betting sites. You need to check out the site/s you use carefully to be sure they are totally trustworthy. You don’t want to worry about withdrawals and banking. Check out our list if the best online bookmakers as a guide. You can check out where to get the best prices, odds and bonuses to make the most of your online sports betting.
Compare Different Odds and Prices
Different bookmakers have different odds for the same bet. If you compare them, you’ll be able to figure out who will give you the best return should you win. On the whole, online sportsbook give better odds than the betting shops on the street. However, it varies considerably from bookie to bookie. For example, one top bookmaker offered odds of England winning the World Cup at 17/1, another, at the same time, offered odds of just 14/1. This could be a big difference if you’re making a sizeable bet. If you were to bet £20, that would mean the difference between £340 and £280. It pays to shop around.
We have compiled a list of the bookmakers that offer the best prices, but check out for any promotions and deals that could make the odds even more favourable. Different bookmakers favour different sports, so check carefully for every bet you make.
Research Your Sport Carefully
Be aware at all times of what is going on in your sport. It sounds simple, but it’s vital. You need to know what is happening. The more you know your team or player; the more you know the opposition, the better your chance of making a good bet. Homework is pretty good fun actually:
- Watch lots of games or matches.
- Read reports and previews of the games.
- Keep an eye out for injuries and suspensions.
- Talk to others about their opinions.
If you watch your sport regularly, you will see for yourself. You will be able to make informed decisions about teams and players. You can see form, ability, strengths and weaknesses. It’s also fun. If you like betting on the sport, it’s a safe bet to say you like watching it too. Even if time is tight, you can check out the highlights. It’s not as great as watching the whole event, but better than nothing.
When it comes to getting others advice – don’t take it for gospel. No matter how much experience they have, don’t be totally reliant on them. Consider what they say and combine it with your own thoughts and opinions. Just because someone says they’re an expert, it doesn’t mean they are. Go with your gut.
Start Working on Your Predictions
Start practising those predictions peeps, because they are going to come in handy. You’re never going to be Mystic Meg, but it doesn’t hurt to start trying to practice them sensibly and use your knowledge to make accurate predictions. This does not mean randomly pulling a score line out of thin air. These have to be informed predictions:
- Look at all the factors that might affect the score line.
- Check out current player and team statistics.
- Look at previous trends and patterns that may be relevant.
You also need to look at the external factors that could affect the outcome of a game. Looking at factors like weather, terrain, referees/umpires and this could affect your predictions radically.
Look Out for Value
Value is a huge concept in successful online sportsbetting. If you do not understand the concept of value in sports betting, then making a profit will be much harder work. This is the only way to make a profit unless you are extremely lucky.
Having said that, it’s not difficult to understand. It takes a little time and patience to get your head around it initially, but it can be done. If the odds offered are higher than the percentage chance of the player or team winning, then this is a value bet. I.e. if you believe Liverpool has a 50/50 chance against Man U, but the odds offered are 3/1, then this is a value bet. You use your knowledge to look for any possible weakness in the bookmaker’s odds.
Go With Your Gut
Like many areas of life, it’s always best to go with your gut instincts. Although it is a lot to do with hard fact and research, don’t underestimate the importance of instinct. Instinct can be very reliable, so always, if in doubt, go with your gut.
Obviously, this isn’t meaning to make all your bets on a hunch, but occasionally this could be the way to go. There will be certain games or certain bets that no matter how much research you do, it’ll be a tough one to call. That’s when you need to go with your instincts.
Obviously, instincts aren’t fool-proof. Just because you believe it will happen, that isn’t a guaranteed win. However, no strategy is fool-proof, even the most logical and well-worked out of them. Also, once you have your practice, your instincts will become more reliable. You will be used to certain situations and you will become more intuitive in those situations as a result.
Track Your Successes
Unfortunately, there’s no point where you are going to be 100% accurate in all of your predictions and wagers. Because the game is constantly evolving, so should your strategies. You should always be making sure you fine-tune your strategies to maximise winnings, and you can only do this if you track your results accurately. You need to check how much you’re winning and losing, and use this to identify your areas of strengths and weaknesses.
When you know where you excel and where you tend to lose out, you’ll be able to work on your skills and win more of your wagers.
Remember it’s all about Quality
It’s not just about just making bets and so more will come in. You want to ensure you have a high win to loss ratio. This means prioritising the quality of bet over the number of bets. You should be selective on the bets you make. Only bet on it of you can make a good case for it.
Really, there are only two reasons for you to make a bet. The first reason to make a bet is your confidence in your bet. The second reason is that you have worked out that the bet is a value bet. Your bets should meet at least one of these criteria, but preferably both. Betting for betting’s sake will end up being a costly pursuit. Just go for bets that are right. Never simply bet for the sake of it.
Don’t Rely on Touts
Many people out there purport to be experts. These guys sell their knowledge at a price. Some of them are good and offer a great service reasonably cheaply. However, most of them are a complete waste of both your time and money. If you do choose to use a tout, be very careful and very picky.
It may seem easier to pay someone else to do your work for you. You don’t have to worry about studying and research. It’s much easier to just follow what ‘an expert’ says. However, like most things in life, doing the work reaps the rewards in the long run. You may get a few wins or even a run of wins, but long term, the outlook isn’t great. The simple fact of the matter is that is you can’t be bothered to take the time to study and improve yourself then you shouldn’t really be doing it for a profit. Stick to betting for fun in this case.
Get Your Books Out
Basically, on the back of our last tip, the most important tip we can offer you is simply to study. As boring as it may sound, studying the game is the most important thing you can do. Learn all about the sport you are betting on and keep learning. It may be enjoyable for you, it may not. However, it will help. If you are intent on betting to make a profit then the only way to do it is by studying and learning.
Don’t try and take it all in at once though. Learn your craft bit by bit and allow it all to sink in. It’s all about being patient. You can’t become a master overnight; it’s not possible. The best bettors are those who show patience. Focus on the basics and then move on to the mastery.