As Sports Betting is gaining popularity in India, a lot of new people are attracted to the concept of being able to win money while watching their favourite matches.
Sports betting can be thrilling. It is fun and highly rewarding if done right.
If you are also someone who is just getting introduced to the world of sports betting, we suggest you read these general tips and sports betting rules that will help you avoid making mistakes on online sportsbooks.
Sports Betting Rules and Tips for Beginners
The prospect of sports betting can seem extremely attractive and rewarding for beginners. You might have heard about many people who have made a fortune while betting on these bookmakers. While some of these stories are true, sports betting is not always sunshine and rainbows.
What these people don’t advertise is that there is a fair chance of losing also while wagering on sports. So, as beginners, it is important to learn about the things that can go wrong while you bet your hard-earned money on these fun websites.
Below are a set of 8 important betting rules and tips that you should read before registering yourself with a sports bookmaker.
Rule 1 – Know The Game and Odds Before Betting
The very first thing is to know the game you will be betting on. Once you are well-aware of the basics of the game, learn about how the bookmakers set the odds on each game. The bookmakers often divide the odds between the two sides of the betting, to balance the liability. Knowing the odds will help you with making sound decisions while placing your bets.
Some things you should know before starting to bet, are rules of the game, how sports bets work, outcomes of wins and losses, minimum and maximum bets, odds of the game, which team has a higher winning chance, and such other important information.
Rule 2 – Set a Bankroll Before Starting
One of the mistakes that the new players usually make is not setting up a bankroll and ending up losing money more than they can afford. Having a budget is one of the most important rules of sports betting. No matter how big your spending capacity is, remember that sports betting is also gambling.
Hence you will have to take some losses as well. Your bankroll should be able to handle any losses without breaking your bank. If you are planning on taking up sports betting as a career, developing a bankroll management plan is also an option you can consider.
Rule 3 – Always Have a Basic Strategy
Another mistake beginners usually make is that they bet on a whim or to recover their losses. This should be avoided at all costs. You should always have a sports betting strategy for each bet you place. Also, avoid any knee-jerk reactions where you place a bet immediately after you have suffered a loss.
Also, take a tab of all your losses and identify the mistakes you are making to strategize better. Remember that the odds will be against you, so you will have to find a way to just minimize the house edge as much as possible.
Rule 4 – Compare Different Sportsbooks
When we shop, we compare the price of a product at different stores before actually buying it. This is the same whilst betting. You need to compare the lines before placing your wager on them. The sports wager rules will differ from bookmaker to bookmaker. But you can still identify which website is offering you the best price i.e. the odds.
What you should do is have accounts on 4 to 5 reputable sports betting websites. They may be 10CRIC or Sportsbet.io or others as recommended on our website. Before each game, compare the odds on each of these sites and place your bet on the one offering the best price.
Rule 5 – Always Focus on a Few Sports
One of the golden sports betting tips is to only focus on a few sports and not invest your money in games that you do not know the rules of. It is easy to get swayed by the number of sports available on the sports betting websites, but not each of these games will give you the results you desire.
Rule 6 – Emotional Betting Can Lead to Losses
People often get emotional about sports. In a country like India, cricket is considered a religion and people often have favourite players that they feel emotionally connected to. This does not mean that you should let your emotions decide your bets. Even if your favourite player or team is playing at the opposite end, only bet where the odds of winning are good.
In addition to emotional betting, people also bet when they are under the influence of alcohol and drugs. This should also be avoided. Even though drinking while watching your favourite sports sounds fun, make sure you place your wager before drinking. The unclear mind will lead to poor choices and more chances of loss.
Rule 7 – Never Bet if Someone Else’s Money
This is one of the sports wager rules that has been recited again and again by multiple people since it holds utmost importance. Only bet the money that is yours. If you do not have the money to wager, then you should not be doing it. Gambling or sports betting on credit can be harmful to your financial health.
Rule 8 – Know That Sports Betting is a Game of Luck
Finally, you need to realize that sports betting is a game of luck. You can use certain sports betting strategies to improve your chances of winning but there is always a possibility that you might lose. Have realistic expectations before placing your wagers.
Conclusion
These sports betting rules will help you in making your sports betting journey much more enjoyable. No matter what kind of player you are, being cautious and starting slow are two golden rules that you must live by.
Always make sure that you only register at trustworthy sports betting websites and do your research before investing.
Why wait anymore? Apply these rules to your next sports bet and have a safe and enjoyable experience.
