When you’re just starting out, there are a few things that you should know when you bet on sports. Many beginners don’t’ realize that ratio of winners to losers is 1:10 on every bet that’s placed. That means you have a one in ten chance of winning money your first time out or any time out for that matter.
These odds are not the best, but they’re not terrible odds either. Some people win more than they lose the first time they play. This is great if it happens for you. But just keep in mind that things will not always work out this way. Just because you’re good at sports or have followed them your entire life, does not mean that you are going to be an instant money maker when you bet on sports.
Have a basic strategy
To be a good earner when you bet on sports, you’re going to want to have a basic strategy. You can start out with one that has worked for other people in the past and then change it to meet your needs later on. But you should start out with some direction in your game.
Many players start out with a few losses under their belt when they first start to bet on sports. Don’t become discouraged by this. Just remember to bet conservatively and take them in stride. If you haven’t wagered more money than you could afford to live without, they shouldn’t bother you the slightest bit.
Keep away the emotional attachment of sports
Just because you have an emotional attachment to sports doesn’t mean that you should have that same emotional attachment when you bet on sports. In fact, you should remain somewhat detached when you bet on sports.
Next as a newbie:
you must have a good understanding of the sport you’re putting your money into. If you don’t understand how the sport works or what breaking sports news means to your wagers, then you won’t be effective. Don’t make the mistake of blindly following someone else’s sports picks. Use good sports picks if you can find them, but always do your research after you get the picks. Your decisions should ultimately be your own.
Wagering $100 from a $150 entertainment budget for one pay cycle is a reasonable example of a budget for you to bet on sports. Just remember that if you win, you can’t beat yourself up for not betting more money. Just be thankful for the extra money you made. Big risks can equal big losses, and it can be hard to rebuild after a big loss. A small gain is better than a big loss any day. After your first year, you could have an earnings history of thousands of dollars if you continue to bet on sports wisely.
Lastly keep in mind that when you start to realize that you have earned a lot of money that you could re-invest in betting, don’t become tempted to bet it all and throw it all away on one bet. Having $100,000 accumulated from a year of betting on sports doesn’t mean that you have to gamble with all $100,000. In the beginning, it might behoove you to re-invest all of your winnings. But after you’ve reached a certain level of earnings, re-investing $50,000 or less is all that’s necessary.