Now that sports betting is so popular, it helps to know how to get started. Though it may seem as simple as choosing one team or the other, there is a lot more that goes into the process than meets the eye.
When taking the leap forward, it helps to have a strategy. That strategy applies logic to bets, using as much information as possible to place a bet that has the best chances of winning. Check out a few key strategies below.
Bankroll Management
One of the most basic Arizona online sports betting strategies is learning to manage your bankroll. Whether playing with a few extra bucks from your bank account or investing some crypto into making bets, that money should be considered entertainment money. Bets can win from time to time, and it is possible to make money, but don’t count on it.
Managing the bankroll will stretch that entertainment dollar. For beginners, start by keeping bets to 1-2% of the total bankroll. This is a great way to absorb losses without needing to make another deposit in short order. Bankroll management also makes it possible to ride out cold streaks without having to commit more money.
Know the Odds
Those who have never bet before may take a look at the odds and think they are reading another language. What does + or – mean? What is the spread? These are seemingly simple things to figure out but can be extremely confusing for someone who is brand-new to sports betting.
The odds tell us two things. First, it tells us who is the favorite and the underdog in that matchup. The higher the number in either direction tells us the likelihood of that happening (or not). It also tells us how much that bet will pay out. Betting $10 on a +100 pick will pay out $20 while a $10 bet on a -200 means having to bet $20 to make that same $10. It can be confusing at first but doesn’t take long to get the hang of.
Data is Your Friend
There are “sharp” bettors out there who win at a higher rate than the public. Though it seems like those bettors simply know these sports a bit more, it all comes down to data. Those bettors are using every bit of information at their disposal to make the most educated pick possible.
Betting is about much more than having a hunch. Using data like history against the spread, recent game trends, historical matchup results, and a million other things will provide a more informed decision. Nothing is a guarantee in the sports betting world but having as much data as possible can provide a nice dose of logic.
Avoid Parlays
One of the most popular trends in sports betting is parlay bets. A parlay is where more than one wager (or leg) is combined into a single bet. So, if you have a three-leg parlay, all three of those picks would need to be successful in order for the bet to pay out. They can be a lot of fun but stay as far away as you can.
Parlays are historically far less successful because there are more factors at play. They have better odds, creating larger possible wins. The odds are that high for a reason, however, and are far more unlikely to hit. A parlay here or there is a fun thing to do but don’t make it a regular part of your betting strategy. Otherwise, you could find yourself making another deposit far sooner than later.
Hayden Richards is Contributor of IntelligentHQ. He specialises in finance, trading, investment, and technology, with expertise in both buy-side, sell-side. Contributing and advising various global corporations, Hayden is a thought leader, researching on global regulatory subjects, digital, social media strategies and new trends for Businesses, Capital Markets and Financial Services.
Aside from the articles, interviews and content he writes for IntelligentHQ, Hayden is also a content curator for capital markets, analytic platforms and business industry emerging trends. An avid new media explorer Hayden is driven by a passion for business development, innovation, social business, Tech Trading, payments and eCommerce. A native Trinidadian, Hayden is also a veteran, having served with the Royal Air Force Reserves for the past 10 years.
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