Sports betting is a hugely popular pastime. Many people now use their sportsbook apps to watch live matches and events as well as place bets on their favorite teams. However, if you’re not very knowledgeable about the industry, you may not be getting the most for your money.
In this guide, we’ll take a look at some of the best sports betting tips passed down by professionals.
In particular, we’ll take a look at welcome bonuses and how you can take advantage of them. We’ll also explain the importance of doing your research and betting within your limits, and why it’s always wise to never chase your losses.
Take advantage of welcome bonuses
Bettors have a wide variety of choices when it comes to sports betting bonuses and welcome offers. It’s a fiercely competitive market, with many sportsbooks to choose from. As a result, many betting companies offer attractive deals to lure people to their sites.
One of the most popular welcome bonuses that you can take advantage of is the matched first bet or matched first deposit.
This type of offer involves the betting company matching the amount of money you place into your account when you first join. It may also apply to the first bet you make. The betting site will essentially credit your account or double your stake with the equivalent amount placed.
Some sports betting sites offer to match first bets or deposits up to a massive $2,000, though many of them have a limit of $1,000.
So, if you’re pretty confident in a bet or the outcome of a match (perhaps you have some insider tips), you could sign up for a sports betting site and make your first bet to potentially double your return.
Do your research
When it comes to betting on sports, there’s a lot to consider. From injuries and form to even the weather, many factors can influence an outcome. To give yourself the best idea of what that outcome could be, professionals always recommend carrying out some research.
There are many sites out there that use technology to provide you with in-depth statistics on all types of sports teams. Soccer, for example, is hugely popular and has a wealth of stats available for you to research.
You can check out how a team has performed in the last few games and can see if any of their key players are out injured.
There are other benefits to doing research too. One thing you can check is which sports betting site is offering the best odds. Again, due to the competitive nature of the market, different sportsbooks offer enhanced odds for different games. By checking odds comparison sites, you can see who is offering the best odds on the English Premier League (EPL), for example.
Bet within your limits
When it comes to gambling it’s important to be aware of the risks of being drawn into the excitement surrounding betting.
When you’re making bets, many sports betting sites show you potential returns for your stake. Sometimes, you may have a set limit in your mind of what stake you want to make, but when you start playing around with odds those potential payouts increase.
This can cause people to bet beyond their limits. If things don’t work out, then it can turn into a situation where you’re running low on cash, or as we’ll explore below, you may be tempted to chase your losses.
So, betting professionals such as Charles Barkley always recommend setting a limit for yourself before you begin betting and sticking to it no matter what.
If you still don’t trust yourself, many sportsbooks allow people to set betting or deposit limits to help resist temptation.
Don’t chase your losses
As mentioned above, it’s important not to fall into the trap of chasing your losses on bets. The temptation is to keep on betting in the hope that one bet will eventually win — enough to pay off the amount you’ve already lost.
However, there’s always the danger of those bets not coming in and the losses mounting up.
In these situations, betting professionals always recommend taking a step back. Take a break, go for a walk or even uninstall the sports betting app to remove temptation completely.
Persisting with bets when you’re in a bad frame of mind is always a poor idea. There’s no shame in accepting defeat. You can always return another day to try again.