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 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 betting”. In this article, there will be a few answers and share tips from people who are familiar with the practice 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, the player will return their money with a profit. If the better’s prediction is incorrect, the bet will be lost.
For each bet the sportsbook assigns odds that assesses the probability of an event. If the bet turns out to be successful (the player's prediction turned out to be correct), the odds put by the sportsbook multiplied by the amount the bettor staked is equal to the payout for a successful bet.
The size of the bet multiplied by the odds is exactly the amount that the sportsbook pays the player if his bet is won. A net gain is only the amount of profit: the amount of the stake is deducted from the amount of the payment.
Sportsbook odds may change both due to 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.
- General information for players beginning to bet on sportsbooks
- What you need to know before choosing a sportsbook
Can I be Profitable with Sports Betting?
Of course, you can win betting on sports. To help achieve this, it is important to look at some of the Legalbet experts, 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, experts are well-versed in the sports for which they give predictions.
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 and a little bit of luck.
Condition 1: Correct Perception
Betting should be fun, and that is the first thing to learn from reading sports betting guides 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 of a sports bettor is a terrible thing to waste);
- It also helps you to develop prediction skills rather than oddsmaking skills (fixating only on money);
- It gives you what sports betting should give: more drive, more healthy excitement and more emotions when watching the competitions.
Condition 2: Control of the Bankroll (Smart Budgeting)
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. This can be a tempting thing to do but streaks can be quickly broken, along with the profits accrued from them.
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 3: Working with Information
The ability to work with information, relate facts and get up-to-date information 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 all sports bets we feature statistics on the games (in the 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 sportsbook always has an advantage. Of course, there is a small percentage of players who rate events even better than the guys making the odds. 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.
Sportsbook Betting Lines and Odds
Before you bet you need to deal with the basic concepts and terms by which a sportsbook operates. The sportsbook lines are not only composed of simple positions such as a team’s victory, a draw or an over/under bet. 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, sportsbooks also offer customers different types of handicaps (Asian/European) that are calculated differently, and this should be known in advance. Different sportsbooks 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 odds. 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: this is a section that every beginner should read first.
- Types of Sports: separate articles describing the main features of betting on different sports.
- Strategies: materials about popular betting strategies including pros and cons of each.
- Types of Bets: informational articles detailing all aspects of the different bet types you will find
- USA Sports Betting: full-blown guides detailing the USA registration processes and betting features
Sports betting: How Does it Work
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 odds 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 steadily building profits over the long term. 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 sportsbooks' choices for trending events.
It is worth noting that the market is so competitive now that sportsbook's lines is getting better and more indepth. Therefore, the main emphasis is placed on odds and margins. For the same events at different offices, the difference can be but a few tenths, but over a long period of time, this can be of great importance.
Shopping for the Best 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 sports betting 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.
It is far more important to perceive the game without too much emotion, this should come after making the bet. If you bet based on emotional ties, you will be very upset by defeats and may not experience 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!