Betting on live sports has always been popular but as any gambler knows, it is an inexact science. That said, there are some steps that a novice punter can take to help them enjoy having a flutter on a live sports event, while at the same time increasing their chances of making a selection that turns out into a profitable one.
1. Only wager what you can afford to lose!
The first rule of sports betting, or indeed any form of gambling, is that you should only ever bet with money that you can afford to lose. There are more than just merely financial reasons for this; one good example being that experienced gamblers will know that you stand more chance of success when you can calmly assess the markets and make a calculated, thoughtful decision. You cannot do that if you have wagered this month’s rent! If you plan to bet regularly, then work out your budget in advance and stick resolutely to it.
2. Bet on sporting events that you can watch live and have a good understanding of!
Knowledge is power! In a sporting context, especially when your money is on the line, you can take one of two approaches. You can just make a bet on any event in the hope it wins, or you can use your knowledge and experience of a sporting event you are interested in to make an informed bet with a much higher chance of success. If you are a novice gambler, then betting on sporting events that you are well aware of gives you a great starting point to begin, especially if you can follow the event live on television or through the Internet.
3. Research your competitors!
Most sporting events are between two or more competitors and doing a little research online about each of the competitors is never a bad thing. This will allow you to look at a wide variety of different variables, such as whether the team or player in question has had a decent run of form, or if they have been out of sorts. Other sites will also offer information about any sporting event with tipsters providing useful information to help you formulate the best option to bet on. A little time researching online is time well spent.
4. Don’t let your heart rule your head!
It is important not to be an emotional better. If your favourite team or player are taking part in a live sports event and you fancy a gamble, are you backing them because you think they will win, or because you hope they will? When our allegiances our involved, it is easy to let your heart rule your head at times and back your team even if they are not a particularly strong bet. Try to avoid this if you can and be objective about your bet. Explore all markets before rushing to back the team or competitor you support. Doing so is not a lack of faith in your team, just shrewd wagering.
5. Keep things simple initially!
If you are a novice gambler, the sheer number of different markets available for many live sports events can be a little confusing. So it is wise to first take things easy by making bets that you understand fully and can easily measure as to whether they will be successful or not. When you are confident in these bets, you can then move onto looking at some of the more unusual betting markets that are available in your own time.
6. Scour the betting markets looking for a value bet!
If you are conversant with most or all betting markets, then perhaps the converse of the previous statement is true. You need to search the available markets for value as it is value which will determine profitability. Finding a market that you feel has a great chance of success, but which also offers great value is the ‘holy grail’ for every online wager!
7. Remember a small win is much better than consistent loss!
How many times have you heard someone say: “Well, I would have backed them, but they were only even money, it wasn’t worth it.” This is a very strange approach to take to gambling. Remember even money is still doubling your money and would you rather have ?20 in your account for an even money ?10 bet, or have nothing left in your account but have had a wager on a 20-1 shot to win ?200?
8. Bet in-play wisely to respond to in-game events!
Betting in-play now allows viewers of live sports events to bet on a variety of different events and outcomes as the game progresses. Clever gamblers will watch these events carefully seeking to capitalise on events in the game to make a little extra cash from strategically made bets at key times. Use your knowledge of the ebb and flow of the game to ensure that you capitalise on key moments in the game by making the right bet at the right time.
9. Don’t chase our losses if you are on a bad streak!
Every gambler hits runs when nothing they do seems to turn out right. Lady luck does desert people at times and it is at these times that a sensible approach to betting is vital. Don’t try and chase losses, this can just end up with you losing more money. Take it on the chin and come back refreshed next time with a clear head and when your judgement will be much more accurate and calmer.
10. If you do win, withdraw some of your winnings and enjoy them!
Of course, the real joy in betting is winning so when you do win, remember to enjoy it. Take a slice of your winnings and give yourself or your family a treat! That way, you are seeing tangible benefits to your betting success and not just building up a balance which, over time, you may end up paying back to the bookmaker.