Sports betting has risen in popularity significantly in recent years. Sportsbooks making the move online has made it quicker and easier than ever to sign up to your favourite app/site and wager on your favourite sports. The federal law against sports betting being struck down in 2018 led to over two-thirds of US states legalizing some form of sports betting.
The legalized U.S. sports betting market doubled in 2021, with more than $52.7 billion wagered throughout the year. In total, over $125 billion has been wagered on sports in the years since the new bill came into play.
Betting on sports can add that extra layer of excitement to your gameday whether it is the NBA, NFL, MLB, or NHL that you are wagering on. However, some of us may not be as well versed in sports betting and don’t want to jump in the deep end when starting. If you are one of these people then we are here to help. Here is a guide to betting on sports smartly.
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Know The Markets You Are Wagering On
First and foremost, it is important to know exactly what you are betting on. Whilst most of us understand the concept of the money line and the NFL point spread, there are other markets that may seem similar but have subtle differences. The last thing you want is to have a small lapse in concentration and place a bet on a market you did not intend, realizing when it is too late.
Take time to learn about each individual market, especially the ones you are not so familiar with. This way you save yourself time when you are trying to wager right before the start of a game and you could also find success in betting on markets that you were not previously aware of.
Know Your Sport
Whilst sports betting should always be fun, there is no doubt that the reason we are in this is to make money. The best way to do this is to stop yourself from being drawn into areas that you are not familiar with.
Whilst you should take time to learn about the markets of the sport you are betting on, trying to learn about an entirely new sport in a short amount of time is near on impossible. If you are well versed in football, then make bank with NFL betting. Knowing your sport inside out is the best chance you have of making a winning sports bet. The more you know, the more successful you will be.
Take Advice From Experts
A lot of us sports bettors are armchair coaches. We all think we know best when it comes to our favourite sport, better than those on the field and sidelines. But you should not let that pride get in the way of your wagers.
There are thousands upon thousands of experts who spend hours trawling through statistics to find the best lines to wager on for every game be it the NFL, NBA, or otherwise. Be it YouTube, podcasting, social media, or written articles; every day thousands of hours are dedicated to researching sports bets so you don’t have to.
Shorter Odds, Long-Term Success
If you have placed a sports bet before it is very likely you have done this. You create a ridiculously long parlay full of 14 selections with odds higher than you can even count. The lure of that gigantic win can be too much to say no to at times but don’t part with common sense in the hunt for an impossible win.
You are much better off making steady gains over a longer amount of time than you are trying to pull off the impossible parlay. Longer odds are longer odds for a reason and the bookmakers know their stuff when it comes to setting lines and odds. Be smart with your wagers and it will pay off in the long run. Know even more. Longer odds are longer odds for a reason so choose wisely come gameday.
Bet Responsibly
This is maybe the most important piece of advice here. Whilst research will always help you in your sports bets, remember that no matter the odds no bet is ever a dead cert. As well as researching the bet itself, take time to look at how much you can afford to lose, and don’t wager over that.
Bankroll your bets and you will be far more likely to be in profit than you would if you threw money at them recklessly. This also helps you enjoy sports betting far more as it should always be fun. Even professional sports bettors lose and remember you are no different.
This article should have made you more confident in your sports betting. Remember to always do your research before placing your bets and enjoy the ride!
