The idea of sports betting might sound tempting, as it is a quick way to earn a buck. However, it is not relatively easy for starters to get everything right. If you are looking for a way to prepare yourself before placing any bets, you have come to the right blog!
We offer a few tips that will help you place effective bets and make a profit, regardless of whether you are a pro or a beginner. If you want to keep winning and enjoy the betting process, we recommend you follow all our tips, no matter your betting goals.
What is a sports bet?
Sports betting is a process through which enthusiasts get a reward for waging a sports event. You place a bet on a sports event you predict will happen. If that event occurs, you win money. If it does not, then you lose money. Placing free bets has some terms and conditions. Free betting opportunities entice new customers to attract them to the betting arena. You qualify for a signing bonus after applying for a bet. For example, if you bet on a team to win, and your team comes second, you will get cashback. However, if your team wins, you get a bonus on top of your winnings. Bookie offers and free bets UK allow you to place free bets and earn profit and rewards on winnings.
Tips for placing successful sports bets
If you aim to win your bets consistently, no matter what sports or team you bet on, here are some practical and valuable tips that you must follow.
Set your betting objectives and goals
If someone watches a sport regularly, they can easily make predictions and wagers on winnings. Most of the time, they might win. However, winning enough to make a profit is the real deal here. That is what is challenging to achieve.
Very few intelligent betters make long-term profits. You are most likely to lose than win as a beginner. The reality is that your extensive or little knowledge of the sport is not enough to make a profit and beat the bookies. Therefore, keep your expectations low in the beginning.
Your initial goal should be to learn more about betting. Once you understand the process, you will get better at it. After that, you may try setting complex goals. You can either aim to bet for fun or to make money. It is important to note that the two are not mutually exclusive. Once you win, it automatically becomes a fun experience. However, some bettors only focus on having fun or making a profit.
At the same time, it is vital to set your goals since they will influence your approach and performance. If your aim is only to have fun, then do just that. However, in making a profit over time, there is a lot that you must learn since it becomes problematic.
Learn the basics
As fun and simple as it might be to place bets, it is crucial to learn the basics to put you in a better position. Let us start by explaining fixed odds betting and the main components of sports wager.
Fixed odd betting is where you predict that an outcome in a sports event will happen and place a wager on it. It is fixed odd because the wager determines the amount before placing bets. Whoever wins, the payout remains as determined.
Bet and wager essentially mean the same thing but are used interchangeably either as a noun or a verb. The five components of a sports wager are:
- Parlay or Accumulator
- Prop or Specials
- Futures or Outrights
- Totals or Over/Under
- Point Spread or Handicap
You must set a budget and draft a staking plan
As mentioned earlier, a beginner has a higher chance of losing money than winning. Therefore, set your budget accordingly. Regardless of your betting goals or how much money you have, it is imperative to set a budget. Depending on the sports you are betting on, you can select a daily, weekly, or monthly budget.
A staking plan determines some rules around your wager amount depending on your budget. We recommend not taking more than 2%-5% maximum on a single wager. It will hedge against potential losses. The benefits of staking include:
- You are more likely to make rational betting decisions
- Less likely to recover losses if you lose
- Chances of losing money from a good betting session reduce
Carefully select your bets
You will come across numerous betting options once you consider doing it. However, it is essential to be selective in your choices. It might be good to hedge your bet against losses by betting on more than one sports event. Additionally, select a sport where you think you can easily win. Avoid any sport that you do not understand or follow.
Sports betting essentially places your bets on the best sports outcome you can predict. If you win, you get money. If you lose, you end up losing money. However, opting for free bets as a beginner will give you a chance to save your money and encourage you to bet more.
It is, however, crucial to learn all the basics of sports betting to increase your chances of winning. Your betting goals also matter. Remember that making long-term profits is difficult if you aim to make money. That is why you must follow all our tips mentioned above before placing your bets. It will help you start with making free bets online and get the ball rolling for all your future bets.