Sports Betting: Top Tips for Beginners
Are you considering betting on sports like NFL (National Football League) games, NBA (National Basketball Association) games, or soccer matches? Are you new to sports betting? If so, it is essential to consider the following tips to get you started. Even if you have some experience with the art and science of placing bets on different sporting events, it is often a good idea to take a refresher course on the basics.
Well, succinctly stated, sports betting is not just a simple matter of guessing which team will win and placing a bet on this team. There are all sorts of options like spread betting, fixed-odds betting, parlays, and teasers. Thus, it is vital to gain an understanding of the basics of wagering on sports matches before placing live bets and running the added risk of losing money through ignorance and inexperience.
What is sports betting?
Before we look at several betting tips to get your started, let’s look at the definition of sports betting as well as a few statistics showing how popular sports betting has become.
Concisely stated, according to Wikipedia.com, sports betting is “the activity of predicting sports results and placing a wager on the outcome.”
Additionally, the Sports Encyclopaedia notes that following different sporting codes plays a significant part in daily life. Thus, it stands to reason that sports betting has become a natural extension to the support of various sports teams.
Finally, global statistics, as quoted by www.statista.com, show that between thirty and forty percent of global gambling activities is attributed to sports betting. There is a caveat added to these statistics in that it is challenging to determine precise figures as the industry is not equally regulated throughout the world.
Starting out with sports betting
Once you have decided to embark on a sports betting journey, here are a few top tips to help you make the right start:
Sign up with a bona fide betting company
Opening an account with a legitimate online sports betting company that comes recommended on a sports betting review site like betenemy.com is a critical step to wagering success. And, it should not be skipped over; otherwise, you could lose your initial investment.
Learn the lingo
All forms of gambling or wagering, whether online or through a brick and mortar outlet, has specific jargon attached to it. For example, the money deposited into your gambling account is known as a bankroll. Another example is the term “bookmaker.” A bookmaker or bookie is the individual, or company, who takes the sports betting wagers. Finally, a third example is “futures” which essentially translates into placing a bet or wager on an event that is scheduled to occur in the future.
Learn the basics
It is essential to take the time to learn the ins and outs of sports betting. Apart from the lingo, it’s vital to understand how odds are calculated, how bookmakers generate an income, as well as value in relation to probability.
This article merely touches on the bare essence of sports betting. Suffice to say, to ensure that you place profitable bets; it’s vital to ensure that you have a working knowledge of how the industry works before you start placing wagers.