The global sports betting industry is worth over $200 billion in 2021. It’s an accessible way for both casual sports fans and long-time gamblers to earn big.
But it can be a tough sell for beginners who’ve never bet on any sporting event. How do you know who to bet on, when you should do so, and what you’re risking?
That’s what we’ll be looking at today. In this article, we’re outlining 5 key sports betting tips to help you find your footing and earn big.
1. Small Bets
Understanding how to bet on sports takes longer than most people expect. While there’s a chance that you’re a natural, most people have to overcome a learning curve.
That’s why keeping things modest and taking smaller bets is a good strategy for newbies. Aim for bets around the $10 to $22 range to lower the stakes.
Chances are, you’ll have to test a few different strategies to find what works for you. Making small bets from the beginning reduces the overall risk factor.
2. Moneyline Wagers
With moneyline wagers, you only have to pick one team to win per bet.
It’s tough to pick which team or side to win since bookkeepers are good at setting the odds to make the choices harder. Moneyline wagers simplify this process by picking one team over another, which makes it more accessible to new bettors.
3. Focus on Small Areas
If you’re a longtime sports fan, it’s tempting to start betting on all of your favorite pro and college leagues.
Not so fast. There are little nuances to betting on each sport or league.
Start with just the NBA or the NFL and learn the ropes there. Once you get used to one league, you can carry your knowledge and build on it with another.
You could even start in up-and-coming sports and leagues. The best betting Esports sites offer a great entry point for Esport enthusiasts.
4. Understand Home Team Advantage
Ever heard of the “Coors Effect”?
It refers to how hitters can hit baseballs farther when they play in Coors Field, the Colorado Rockies’ home stadium. This means the Rockies are typically expected to hit better at home.
Home field or home team advantage is a real concept for bettors. Be careful putting too much stock in a home team, as an upset is always likely, especially in a sport like baseball.
5. Careful Betting on Your Favorite Teams
We get it. You love your home team and want to root for them every chance you get.
While you might profit by betting on your favorite team if they’re really good, don’t ignore the odds either. Better yet, you can simply not bet on your favorite team to make sports betting laxer and less stressful.
That way you can root for your team while winning bets in other games or matches.
Sports Betting Tips to Improve Earnings
Just because you’re new to sports gambling doesn’t mean you have to struggle to learn the ropes. Use these sports betting tips to find the right sports betting strategy and start winning big immediately!
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