You are a savvy sports fan; you follow every team, their individual players stats, injuries, trends and can pretty much call who will win the game. Now you are ready to put some money behind all of that knowledge and start building your bankroll.
So, how do you start? What’s the first move? Glad you ask because we are here to help. Before you start, you need to trust where you get your betting odds, game breakdowns and team/player trends. Let’s get started with our guide of things you must know before placing a bet.
How, Where, and How Much to Bet?
This has to be the single most asked question in betting. To start you need to determine how much you can afford to have as a bankroll. This number is usually determined by how much extra cash you have lying around and what percentage of that amount do you want to tie into your bankroll.
Once you land on that number, then it’s time to determine your unit size. Usually you want your unit size to be 1% of your bankroll to start. So if you have $100 as a bankroll for the month, and in week 1 you do 10 bets at 1% of your bankroll and lose them all, you have only spent 10% of your bankroll. That keeps you betting and growing your bankroll. Once your bankroll hits $200 then you can increase your unit size then.
Bet on What You Know
Now that you have your bankroll affairs in order, it’s time to start looking for betting opportunities. How do you do that? Pick a game that you are confident you know the stats, players and trends. Then once you think you know how the game will play out, it’s time to start odds shopping to look at how the books priced the lines and if there is an opportunity to make some money.
Once you find a side you like and at the right price, then it’s time to lock it in and watch the game. Some bettors like to line shop early and get the opening lines. Some like to monitor the market and bet LIVE with their sportsbook in-game offering.
What Kind of Betting Markets Are Available?
Depending on the sport, there are various betting options. For beginners, sides and totals are the most clear cut bets that are easy to understand. Once you get your feet wet, you can start looking at parlays, teasers and player props. If you are betting on teams before their regular season begins, you can take a look at the Futures markets and place some bets on teams you think will win the finals.
Know your strengths and weaknesses
Individually everyone knows what they are good at and where they might have a chance to lose. Betting and gambling are all about taking the chances but the right ones. Initially, you may feel discomfort in sports betting while trying to understand the technicalities, but it will get better when you patiently respect your bankroll and make your one unit bets to get the experience needed to start cashing tickets.