Sports betting has grown into a massive industry in the last decade and it has by no means reached the ceiling yet. Far from it. It continues to rise all over the world, and especially in the United States. Sports betting rules have become much more relaxed and many states have already legalized and embraced the activity.
It is easy to find the reasoning behind such a massive expansion of the niche. Every sports fan in the world can be easily attracted to wagering. It is fun, simple, and provides a chance of winning money. What’s not to like about it? Well, this pastime has its negative sides as well. These are bound to losses. You are never guaranteed to place a winning bet. There is always a chance of your pick letting you down and your money going away from you. This is why it is crucial to have at least some sort of strategy instead of jumping straight into bets.
Since online wagering has become so popular, we figure there are a lot of newbies looking to test their sports knowledge and luck. This article is dedicated to them, but also to the more experienced punters who have suffered constant losses. Stay tuned and keep reading as we are about to share the top tricks and tips set to launch your sports betting career into new heights in 2023.
Learn the basics
First of all, you need to be completely familiar with the foundation of sports betting. You need to understand the markets, the odds, and the lines. Sports wagering is not just backing a team to win. Do not get us wrong, the moneyline market is the most popular of them all, but you can’t make money by constantly betting on which team will win the game.
If you are convinced that the Kansas City Chiefs will destroy Miami Dolphins by more than 10 points difference, you have to go with the pints spread market instead of moneyline. By betting the Chiefs to win in a -9.5 handicap, you’ll get the competitive -110 odds. If you only back the Chiefs’ win in this instance, you’ll be looking at -500 or even -1000 odds. We will discuss the odds and the lines more down in the article.
Explore betting-friendly sites
You have nailed the basics and you think you are ready to go? Not quite. You should always (we can’t underline how important this word is) upgrade your knowledge and adjust your skills to the latest news/reports/trends.
Luckily, we have numerous betting-friendly related sites, e.g. Betting Billy, at disposal. These sites usually provide precious and useful information in regards to sports wagering. On there, you will not only find the expert picks and analyses but also the wide spectrum of different bookmakers, odds, bonuses up for grabs, etc. Now, it is very important to know the difference between reliable sources and fraudsters. Remember, there will be cheaters wherever money is involved. To stay safe, just ignore any site that promises 100% winnings because there is no such. As we mentioned above, you can access numerous useful & trustworthy betting-related websites for free.
Also, do not be afraid to look for another opinion or to check the expert picks. After all, you’ll buy a better house for less money if you consult a real estate agent, right? Sports betting is very similar. Some people devote their lives to certain sports, watch all games, and have all the information about the teams involved. Do not be afraid to accept they have more knowledge than you. Of course, you should by no means trust everyone. For this sake, there is statistics, previous scores, winning runs. You certainly don’t want to follow tips by someone who has had a six-month losing streak in betting.
Do the pre-game analyses and act quickly
Of course, you can succeed and make decent profits without consulting anyone. For that, however, you need free time. You need to watch matches and do the pre-game analyses before placing the wager. The more you know about a certain game, the higher the chances of a winning pick are. Even the slightest details can make all the difference.
For example, you find out that LeBron James will not feature the Los Angeles Lakers squad in the clash against Brooklyn Nets who have just welcomed Kyrie Irving back from suspension. You should rush to log in to your betting account and place a bet on the Nets before the sportsbooks adjust the odds. In most cases, the star-packed Nets will beat James-less Lakers and your pick will be a winner.
Shop for the odds/lines
This advice is closely related to the previous paragraph. We’ll stay on the same example. You want to back the Nets against the Lakers. Sportsbook A did not adjust their odds to the latest news and they have Brooklyn at +120 odds. Sportsbook B reacted straight away upon hearing the news about James’ absence and reduced the odds for the Nets’ win to -130. You obviously want to place your bet with the former sportsbook because a $100 stake would net you a $120 profit there.
This example can be applied to all sports and competitions. This is why it is good to have accounts with multiple sportsbooks. Even the slightest odds change in your favor will do the job in the long run.
Mind your bankroll
We will finish the article with this paragraph, the one that hides the most important advice. Paying attention to bankroll management is essential if you want to survive in the sports betting environment. You can have ten straight winning bets, but you will go into bankruptcy by going all-in on the 11th (and losing it). Never bet the money you can’t afford to lose.