Do's and Don'ts of Online Sports Betting - Tips, Tricks and Guidelines

Do's and Don'ts of Online Sports Betting - Tips, Tricks and Guidelines

Sports

Do's and Don'ts of Online Sports Betting - Tips, Tricks and Guidelines

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Luck is what happens when preparation meets opportunity, or so said Seneca, the Roman Philosopher. And online sports betting requires some brilliant machinations if you are to navigate through the murky waters of online sports betting. Sports gambling is potentially perilous, considering the high-emotions and money involved. In a click, you can lose your money or gain more.

The crux of the matter when it comes to sports gambling is to comprehend that if your main goal is to make money, then the long-haul approach should be the way to go. You should have this in your mind that both winning and losing streaks can not be avoided. But the separating tenet between the winners and the losers is how they handle these periods. 

The following principles elaborate on the fundamental principles that a real sports bettor should adhere to, not to mention the drawbacks to be aware of on your quest for betting gold.  

Sep 20, 2020; Seattle, Washington, USA; New England Patriots quarterback Cam Newton (1) is tackled shy of the goal line for the final play of a 35-30 loss against the Seattle Seahawks at CenturyLink Field. Mandatory Credit: Joe Nicholson-USA TODAY Sports

Do: The Art and Science of Bankrolling

For all intents and purposes, a bankroll is the most important thing you should have before you embark on sports betting, any betting for that. It ensures that you avoid the financial pitfalls that assail bettors down their chosen path. Pragmatically, it is the thing that precludes your small losses turning into hundreds and thousands of dollars down the proverbial drain. 

So, what is a bankroll? It is the amount of money that you put aside singularly for gambling.

The rule of thumb in creating a bankroll is to set aside an amount that you can afford to lose. If you are betting five hundred dollars, consider it gone, like a purchase; therefore, you shouldn’t have any undue attachments to it.

Now, this is not to say that you lose all hope of not recovering your money, no, but to rather ring-fence your funds from everyday daily life. This way, you can account for your losses and gains in a meaningful way without fulsome pedantry.

Don’t: Entertain Losses in Hopes of a Turn in Fortune

Indubitably, this is the most rudimentary principle of gambling. It is a rational thing, but gambling is rarely a rational activity. That is how sportsbooks get all your money, or all casinos have a significant edge over you. 

Losses usually prompt the bettor to want to augment their bankroll to be able to capture their losses. This chase of losses rarely ends in a good way; you are going to get burnt. Without a doubt, trying to recover all your losses in one swing of the arm will seldom work. For example, if you lose 10 dollars three times in a row, don’t bet 30 dollars at once in an attempt to recoup. Chasing losses becomes a dangerous path very quickly. The guiding principle should be-quit while you are ahead or behind. 

So what’s the best strategy? One bet at a time, of course, until you gain ground. Certainly, it is better than being in the red and still digging a hole for yourself. 

July 26, 2020; Abu Dhabi, UAE; Peter Sobotta (blue gloves) of Poland punches Alex Oliveira (red gloves) of Brazil in their welterweight fight during the UFC Fight Night event inside Flash Forum on UFC Fight Island. Mandatory Credit: Jeff Bottari/Zuffa LLC via USA TODAY Sports

Don’t Bet Without Putting Your Thinking Cap 

You need to understand one thing: Sportsbooks set their betting lines based on what the public believes will be the game’s outcome instead of what they divine. Taking the time to deduce where the difference is, then you can leverage on the same. 

This is not to say that you need to be unnecessarily scholarly before placing a bet. Still, you need to have some semblance of useful information to engineer serendipity and not just throw away your money. 

Emotion cannot be avoided in gambling, but you might want to reduce the amount of emotion you give to your favorite team or money or the wager you place.

Avoiding “heart-bets” is one of the most distinguishing marks of a true gambler/sports bettor. Emotional, or “heart-bets,” have taken down even the most level-headed gamblers among us. Suffice it to say that you probably should not put your money in it if you cannot get your heart out of it. 

Do Your Research in Terms of Sportsbooks

Like every other company, Sportsbooks are out to outdo each other when it comes to their offerings because the customer is king. From sign up bonuses, free credits, cash matches. Especially online sportsbooks, who are continually trying to win you over to their playhouses. 

It would be best if you took advantage of all the offers on the table until you run out of options. Furthermore, during this process, what you need to be aware of is the terms and conditions and the rollover prerequisites prior to signing up; that said, most deals are worth taking. Do your research on most of the sites, and be careful. Information is power.

Also, make sure you read sports articles.

Don’t: Make the Presumption That All Lines/Odds/Spreads Are the Same Across the Board

Advisedly, as a sports bettor, don’t leave points on the board- you should find the most conducive lines for the plays you want to undertake. 

These sportsbooks adjust their lines predicated on the bets they are receiving; thus, it would be logical to see that not all the books have similar numbers. You must look for the best chance to win. Doing this is the difference between a profitable sports bettor and a losing one. Statistically, this difference is expressed in 2-3%. The half-point differences or single-point differences add up over time, to the advantage of the bettor.

Do Take a Long-Term Perspective

As a general rule in strategy, please develop a sports betting strategy that gives you the capacity to be profitable in the long-term. 

Conclusion

True, these tips appear basic, but there is often nothing more elusive than an obvious fact. Understanding and practicing these tips will help you make some money in the end, especially if you are looking to turn this into some side-hustle. Gambling thrives on information and lack thereof; if you are well-informed, you will make money. While this is not a guarantee of massive wins, it is a promise of progress. 

Find which sports you have success in, stick to your bankroll, do your research, and when in doubt, bet against the public.

Speaking of strategies, you might want to improve your abilities by checking out Golden Dragon slots at a Bitcoin casino.

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