Sports betting has been booming as the anti-gambling stigma faded and states have legalized it. While betting is a fun and exciting way to engage with sports, it can also be dangerous if not done responsibly. Sports betting requires a level of objectivity that is difficult to maintain during games, especially when fans are elated or angry about their team’s performance. This state of emotion can lead to making bad wagers, which can ultimately cost a bettor money. To help avoid these mistakes, here are 12 things every sports bettor should know.
Know the terms:
The first step to becoming a successful sports bettor is to understand the terminology and lingo. This will allow you to read and make bets that are more educated. For example, understanding terms like the point spread and the over/under is important. The point spread is a number that handicaps one team over another in order to even the playing field when two teams are facing off. This means that the team that is favored must win by more than the number set by the oddsmakers, or else they will lose. The underdog, on the other hand, can win by fewer points than the number or win outright.
Know the numbers:
Before placing your bets, be sure to study the game’s stats and unique circumstances. This will help you place bets that are more informed and less likely to be lost. For example, you should not bet on a team just because they have the prettiest uniforms. You should instead analyze the teams and determine if they have any weaknesses that can be exploited by the opposing team. This can be done by studying a team’s past performances, current statistics, and injury history.
Know the risks:
There is a high risk of gambling addiction in all forms of wagering, including sports betting. This is why it is so important to only bet with a small percentage of your total bankroll. A good rule of thumb is to only risk 1% to 5% of your bankroll per play. This will keep you from going broke in a single bet and ensure that you have enough funds to last throughout the season.
Be wary of bogus picks:
The sport of betting has seen its fair share of scandals over the years, from spot-fixing (where specific plays are fixed) to overall match-fixing (in which the entire result of an event is altered). While it’s impossible to guarantee that you will always win your bets, it’s essential to do your research before investing your hard-earned cash. This includes reading reviews and checking Better Business Bureau ratings and complaints.
While it is possible to win big in sports betting, more people lose than they win. By following these simple tips, you can improve your chances of winning and keep yourself safe from gambling addiction. And remember, it is not just your money at stake – if you gamble too much, you can ruin your life and that of those around you.