Do you follow football and want to start betting but don’t know where to start? Or do your friends bet, and you don’t know anything about it but are too embarrassed to ask them?
If the answer is yes, don’t worry, as we are here today to help you. In this article, we are going through the basics of betting. Of course, it won’t teach you everything in the betting world; you just have to have the experience to know it all. But this is an excellent place to start gathering information, so without further ado, let’s get on with the tips.
1. Setting up the budget
This is the most crucial thing before you start betting. You have to set aside money that you are willing to lose weekly or monthly. Because, when you don’t have the experience, you might lose sometimes. We advise you to stick to that amount while you are still a beginner; later, you can increase it when you enter the stack.
The other thing we advise you is to keep the budget low in the beginning. What is the point of losing a large amount of money when you’re still in training? Only bet on the money you are willing to lose because everything can happen, as it is betting after all.
2. Decide what you bet on
Before you start betting, you should decide on what sport do you want to bet on. Some sports are better for betting than others, but it is all up to you and what you like. If you are a football fan, you should definitely bet on football because you will know who to bet on. W88 offers all the major sports such as English Premier League, Spanish La Liga, Italian Serie A, UEFA Champions League, French Ligue 1, German Bundesliga, etc.
If you’re not into sports, then it may be a little more difficult for you. We suggest you experiment a little bit. Try out some sports to see which one fits you the most. When you do that, you might just become a fanatic of that sport, so you will eventually be better.
3. Learn about odds
Odds play a significant part in betting. They are explicitly used to calculate the payout from your wins. They indicate how likely one team is to win. There are three types of odds:
- Decimal odds – These odds are most commonly used throughout the state and are written in decimal numbers. When you win, your payout will be decimal odds multiplied by the money you invested. For example, if the odd is 2.00, and you gave $10, your final payout will be $20. The profit is $10 because the checkout takes the beginning stake too.
- Moneyline odds – they are commonly used in America. They are also displayed by number, but the difference is that after that number comes the symbol – or +. Numbers with the symbol – are odds on, and numbers with thy symbol + are odds-against.
- Fractional odds – this is used in the United Kingdom and a few other countries. It is rarely used nowadays because it is the most complicated one of them all.
4. Learn the wages
There are many different types of wages, and every betting club can have some unique ones. When you are a beginner, you want to make it simple. We will explain to you the easiest to understand wage, and throughout the experience, you will eventually learn them all.
The simplest one is the win bet. It is also called the Moneyline bet. You put money on the team that you think will win. That team has an odd, which we covered up earlier in the article. If the team wins, the money you put multiplies with the odd, and you get the profit. Simple enough for beginners and to start your betting journey.
5. Don’t always bet on your favorite team
Since you are inquiring about getting started with sports betting, you are probably already following some sports and have a favorite team. You’re probably planning to start a betting career by placing a bet on your favorite team, and that’s totally okay. A lot of people do that; they want to combine nice and useful by getting money and winning their favorite team. But the thing is, the odds might not be in your favor every time.
Many people continue placing bets on their favorite teams and then lose a lot of money. They always hope their team wins, but the reality is that there are ups and downs in sports, and it’s smarter to look at form than personal love for a team. One solution, which will be difficult for some people, is to look objectively and really bet on a stronger team. The second solution, and the one that will work better, is to not bet on your team anymore. Cheer still and encourage them, follow, but leave betting for other teams you have no feelings for.
6. Treat betting as a business
When you treat betting the same as you treat business, then it gives a different meaning. Many people are only there to play and throw money, but we believe this is not the case with beginners. They want to get into the whole story seriously, and behaving like a business is an excellent way to start.
As in business, you need to try different methods, explore sports and teams, look for good money opportunities, and correct mistakes. Start tracking your progress and set aside private money and overall life with gambling. Only then can you succeed in that business.
It is not easy to profit from betting, as luck has a great value to it. However, if you follow these steps, you definitely won’t fail every time, and with the required experience, we are sure you will be in some kind of profit. These were all the tips to start your journey of sports betting. Remember to always stay within your budget and have fun.