Sports betting is exploding in the United States. The stigma against gambling is falling away, and millions of sports fans are ready to get in on the action. But for first-timers, the game can be confusing.
Here are 12 things every beginner needs to know before they place their first bet.
1. Betting With Your Heart Is Not a Good Idea
Bet with your head, not with your heart, when making wagers on the games you watch. Whether you love college basketball or NHL hockey, it’s important to have an objective approach when placing bets. This will keep you from making emotional decisions that can cost you money.
2. Money Management
Sports betting can be a profitable endeavor, but it’s important to manage your bankroll wisely. A good rule of thumb is to never risk more than 1% to 2% of your total bankroll on each individual bet. This will allow you to survive a bad day or week while growing your profits over time.
3. Avoid betting bad numbers
A big mistake that many sports bettors make is betting on bad lines. Lines can vary based on the clientele of a particular sportsbook, so having access to multiple sportsbooks is vital to finding the best lines. For example, a team may be posted at -7 on one site but -6.5 on another. That extra half-point can mean the difference between a win and a loss. Also, resist the urge to bet on teams that are on a losing streak – it’s not worth ruining your whole bankroll.