Disclosure: This content is reader-supported which means if you sign up on some of our links, we may earn a commission.
The rise of everyday sports has brought about a revival of regular sports betting over the last few years. The decades-old anti-gambling prejudice is waning worldwide and opening the way to the emergence of a massive, legitimate industry in sports betting worth billions of dollars.
Vast numbers of sports supporters will now try to join the betting market as sports betting is being legalized in more territories by the day. Here’s everything you need to know before getting started in sports betting.
Beginner’s guide to sports betting
Sports betting is a type of gambling where a wager, sometimes referred to as a bet, is placed on the result of a sports game. Sports betting is used as a method for gaining extra cash.
A bet has two possibilities, excluding ‘draw no bet,’ spread betting, and several other exceptions. You either win (betting amount multiplied by the bookmarker odds) or lose your bet amount.
While sports betting mostly includes sports like rugby and tennis, it may also include entertaining betting and finance. Sports betting can be on the results of a tournament, fixture results, or live outcomes of a given fixture.
For example, possible bets may include Chelsea beating Liverpool, Chelsea winning by 3-0, Chelsea being on the lead by half-time, and a specific player to score when Chelsea is playing against Liverpool.
The basics of sports betting
A sports betting company is known as a bookie, bookmaker, betting agency, or sportsbook. A betting exchange is a service that offers a marketplace for setting odds. A user who bets is a punter (in the United Kingdom) or a bettor (in the USA).
When a user makes a bet on a particular outcome, one is backing that particular outcome. For instance, if a user bets on Chelsea to defeat Liverpool, they are backing Chelsea.
Bookmakers only allow you to back an outcome, whereas betting exchanges allow users to bet against and for outcomes. A lay bet is a wager made against the outcome of an event. Users could, for instance, place a wager against Chelsea winning a particular game.
One distinction between betting on sports and gambling on a casino is that the winning probabilities are only estimated rather than known with sports betting.
How to start sports betting
Here are a few things to follow to start sports betting on the right foot;
Have a budget
Sports gambling can be entertaining, and if you get good enough, you can make money. However, you will almost certainly lose at the initial stages.
For this reason, you should be cautious and set a budget that fits your financial capability. That may not look attractive, but it is the truth of the matter.
It is not certain that it will happen, but making a loss is the most probable outcome for people who are just getting started with sports gambling.
Choose familiar events and leagues
The next major decision you must make before wagering on sports for the first time is what to wager on. Nowadays, bookmakers offer a wide range of events, and it is critical to select the appropriate ones.
Choose the event to bet on. There is no broadly accepted event for everybody since there are personal factors to consider.
Ideally, you should choose a league and a sport that you are familiar with. Comprehending a sport boosts your chances of spotting good bets.
Choose a betting site
Many people who would like to begin sports betting skip this step since it is simple. While registration on any given site is simple and takes only a few minutes, finding a trustworthy bookmaker is more difficult.
The best online betting sites provide numerous advantages, and you receive a higher return for your bets.
For example, I’d recommend signing up with betwinner.com. Remember to use the promo code BETAVATOR on the sign-up to receive a special bonus! Read this round-up for more betting sites with welcome bonus offers.
How much money do you need to start sports betting?
Most bookmakers have the minimum amount for a single bet below 1 dollar. It would be best if you started small and increase the size of your bets gradually.
1-5 percent of your balance is a good starting point. If you are extremely risk-averse, it would be best if you keep your bets at less than 2 percent of your balance.
If you’d like to take a big risk and are comfortable with it, you should move up to 5 percent but no more than that.
How to bet on sports for beginners
Click on the selection you have made to enter the bet amount. The bookmaker will show you the possible winning and add your bet to the bet slip.
As we have seen above, sports betting is an easy task that could turn into a money-making venture. It is also a great way to have fun while cheering up your favorite teams.
Read and understand the tips above, and you are good to go. For more tips from an experienced sports bettor, read this post.