The Art of Sports Betting: Instructions for Beginners
“Is it possible to win at sports betting?” is a question that a vast majority of those who have just started recently started or want to start betting are interested in.
Some people search the internet with questions like “How to get rich betting on sports” or “How to make money on bets.” In this article, there will be a few answers and tips from people who are familiar with the game firsthand.
Let us first say that the novice player at the start should deal with all of the basic concepts, and then show interest in “money” questions. Yes, you can make money betting on sports, but the right goals and the right knowledge are important. We strongly recommend getting started the right way!
What is Sports Betting?
Sports betting is an intellectual competition between a player and sportsbook: a player makes his prediction for a sporting event and bets money that his prediction will prove correct.
At the right rate and with a correct choice, he will return his money with a profit. If the better’s prediction is incorrect, his bet will be lost.
For each bet the sportsbook assigns odds that assesses the probability of this event. If the bet turns out to be successful (the player's prediction turned out to be correct), the amount put by the bookmaker's proposed factor is the size of the payout put for a successful bet.
The size of the bet multiplied by its coefficient is exactly the amount the bookmaker pays the player if his bet is won. A net gain is only the amount of profit: the amount of the bet is deducted from the amount of the payment.
Sportsbook quotes may change both by the number and size of bets placed on this event, and by reducing/increasing its probability. Experienced players also call the "price" factor of the proposed event: everyone can either choose a bet at the proposed price or refuse if he finds it incorrect.
- Bookmaker: what you need to know before the game
- How to register with a bookmaker
Can I win with sports betting?
Of course, you can win betting on sports. To help achieve this, it is important to look at the rating of forecasters on Legalbet, which shows the successes or failures of the forecasts of each expert and handicapper on our site covering multiple countries.
The statistics are kept open, and therefore the ranking page shows that not everyone is able to give accurate predictions and choose winning bets. Although without exception, forecasters are well-versed in the sport for which they give forecasts.
- See Legalbet’s forecaster rating
Good knowledge of sports does not guarantee constant winnings. However, we will note that nothing guarantees a win every time you place a bet. And yet, you can still be successful at the game. Albeit subject to several basic conditions.
Condition one: correct perception. Betting should be fun, and that is the first thing to learn from reading All About Sports Betting for Beginners. Sports bettors can (and will) lose, and you have to be prepared for that.
Having the perception of betting as a game has several significant advantages:
- firstly, it allows you to not lose your mind and risk large sums of money (the mind in sports betting is a terrible thing to waste);
- it also helps you to develop prediction skills rather than bookmaking skills (opposed to fixating only on money);
- it gives you what sports betting should give: more drive, more healthy excitement and more emotions when watching the match.
Condition two: control of the bankroll (game budget). For a beginner, the advice will be simple: you can only bet the amount that you are willing to lose. To bet twice as much after a successful bet is a bad start. Trying to win your money back after a loss is an even worse start. Experienced players know how the novice brain works: that one large rookie win can make up for many previous and subsequent loses. If you are serious about mastering the art (science?) of sports betting, then start keeping track of all bets made, as well as every win and every loss.
Condition three: working with information. The ability to work with information, relate facts and get up-to-date data are the basics and the main thing when choosing a bet. It is not enough to simply believe in the team you want to bet on: it is important to what form the team is currently in, whether or not it has a high motivation to win, how optimal the squad is, who will be starting the game, etc. To make this condition easier for fans of soccer or hockey bets we feature To Perform (in the section betting center on Legalbet you can choose your game from the list and get up-to-date information on it). In this section, you can see the schedule of all upcoming matches as well.
Beginning players should also remember that in the game of money, the bookmaker always has an advantage. Of course, there is a small percentage of players who rate events even better than the bookmaker; however, this comes only with experience, and even then, is not true for everyone. Beginners can count on a little bit of luck at first, and their knowledge of sports can be used as an aid in the conscious choice of options for betting.
- Learning to bet on sports
Before you bet you need to deal with the basic concepts and terms by which a bookmaker operates. The bookmaker’s line is not only composed of simple positions such as a team’s victory, a draw or a total of more/less. There are also a huge number of other bets where there can be various pitfalls lurking around the corner for novice players. If you decide to experiment without the necessary knowledge, it can lead to bitter disappointment.
For example, bookmakers also offer customers different types of handicaps (Asian/European) that are calculated differently, and this should be known in advance. Different bookmakers can count bets according to different sources, and for a beginner, it does not always end favorably. In order to not have to learn from your mistakes, we recommend you allocate time for training, carefully study the rules of betting and possible nuances that may arise when calculating the rate.
The odds offered by the bookmaker are also important: it is important for the player to avoid betting on overpriced outcomes because objectively these bets will be unprofitable.
As a rule, you should overestimate favorites, but this is not always the case. Understanding the fidelity of event evaluation will only come with experience, but it is necessary to remember this from the first bet.
It is better to understand the topic of sports betting with the help of Legalbet:
- General information: is a section that every beginner should read first.
- Types of sports: separate articles describing the main features of betting on different sports.
- Need to know: a lot of applied information for the player.
- Strategies: materials about popular betting strategies, pros and cons of each.
Sports betting: how it works
Determine for yourself how much money you are willing to allocate per month for bets, and do not back down from this target. Even if you think that you have found the rate of a lifetime, do not increase the bet size. If the bet ends up winning, do not regret that you did not bet more. In the process of learning sports betting, a person should conclude that the main thing to know in this case is how the game is formed at a distance. This understanding only comes with time.
Determine where to bet on sports. In betting, a lot depends on the odds and the choice of the event. So, you need to start with the sports, tournaments and types of bets you are interested in. Determined by their expertise, we follow the bookmakers’ choices. It is worth noting that the market is so competitive now that the bookmaking line is getting better and richer. Therefore, the main emphasis is placed on odds and margins. For the same events at different offices, the difference can be a few tenths, and at a distance, this can be of great importance.
Shopping bets by odds
Most people start their “career” in betting with bets on their favorite team or athlete. And this is a mistake that haunts many experienced players throughout the game. After all, in these bets analytics prevail, not emotions which is a noticeable problem in the game.
Emotions and bets for a professional player should never intertwine, and all beginners should learn this truth as quickly as possible. It is not just about a negative position, where the desire to win money back has you betting on the third league of Malta curling simply because there are no other events in the line at that time: much more important is perceiving the game with too much emotion. Do this, and you will be very upset by defeats and may not notice the positive emotions brought about from sports betting if you play responsibly.
So, if you have already decided to try your hand in sports betting, we hope that our material can help to make this an enjoyable and successful endeavor. Good luck!
- How to choose a bookmaker: instructions and tips for beginners