Betting Basics: Everything you need to know about betting
If you are looking for some betting basics then this article is for you. In the present world, love for sports has grown over time. People have identified different games that they have come to love through the time and it is not a surprise everyone has come across names like Lionel Messi, Cristiano Ronaldo, LeBron James and more big wigs in the sporting industry. Through the love for these games, there came betting in which various bookmakers have been on the rise as a result of the sports. With them, a player can go ahead to make profits by predicting the outcomes of the various sports games being played. From the famous titles like Soccer, Tennis, Cricket, Basketball to the Racing events, players have made profits through their favorite sports. However, it is not everyone who makes profits and let’s face it, not everyone is a soccer fan and some are so amateur in the field but the promise of returns makes them have a shot. Below are some of the basics that the interested parties should have in their minds before playing on any betting platform.
Betting Basics: Key Tips to Keep in Mind
- Be careful with your money
This is one of the most important tips. Betting will always have two outcomes. A win and a loss. A player is always advised to bet with the amount of money he/she can afford to lose. Some of the punters have gone ahead to bet with money meant for their livelihood and this proves the addiction levels in the industry. Many of the platforms have rolled out measures in curbing this by setting limits. The limits may range from deposit limits, bet limits to withdrawal limits. These measures have gone ahead to help out but a player needs to be more careful on his/her end. Rule number one is never chasing the losses.
This is always a part that comes to sports fans. Many will not want to bet against their favorite teams. The love for their teams cloud the judgments and with such mentality, chances of losing your money are high. As a punter, you are advised to bet with your mind open and not out of emotions.
- Gather information
This is another necessary tip for the players. On any sport you are betting, for that particular event, before placing a bet, you are advised to have thorough information about both teams. For example, if you are betting on the Basketball section, view aspects like team statistics, the form of the teams, the head-to-head record and even the line-ups. In most cases, the best player of a certain team can be missing which makes your bet more and riskier. But with all the necessary information, making a potential winning bet becomes easy.
- Bet timing
One feature that you will find out as you place your bet is the odds. With the odds, they normally change with time before the event begins. To some teams, they may go low and to others, they may go up. A player is advised that if his/her pick falls on the likely winner, the bet should be placed as early as possible and if the bet lies on the underdog side, he/she should place it while the event almost starts.
- Make a stand
One factor that makes a lot of punters end up on the losing side is the opinions. Not to discredit the bookies and the ‘gurus’ in the industry but sometimes as a punter, going by your stand is always the best option. If you wanted to back the underdog, proceed on and do not be swayed. Furthermore, no one knows the outcome and it is only luck that comes to your side.
- Choose the type of bet
This is another important tip if you are to make a potential winning bet. A player is always advised to find a bet type that he/she is familiar with and a bet type that has high winning chances with minimal risks. Bet types like Double Chance are the best for beginners. Yes. The returns are not always the best but the risk is minimal. If you want to take the jackpot side of it, you will have taken high risks and so will be your returns. By identifying your type of bet, betting becomes easy and as aforementioned, it becomes your stand. Definitely one of the betting basics.
Last but not least to our list with betting basics, a player ought to know the limits the platform has set. Every platform differs on the minimum deposit you can have and the maximum payouts. That should be noted. Now with the betting basics at your fingertips, let us dive into some of the common features you will come across.
Betting Basics: The Features You Should Know
As earlier stated, this is the most common and yet most important feature. With the odds, there is the reflection of what you expect to win at the end of the event in a case where you win. The higher the odds signify more risk. However, that does not mean that you cannot win. The odds are given in different formats from; American, Fractional and Decimal format. Another point to note is that the different markets provided on the platform will carry different odds with some of the highest odds being recorded on markets like ‘Correct Score’ and such like.
- Cash Out
This is another feature that you are bound to come across. A point to note is that not all bookmakers will have this feature. However, those that have it are all to the advantage of the players. There are two ways of cashing out in many of the bookmakers. There is full cash out and partial cash out. Full cash out will involve a player getting the returns before the normal time is over. With this feature, a player minimizes risks and locks the profit gained already. A player is however not promised the full amount as was projected. In the partial cash out case, a player will have the chance to cash out part of his/her returns and leave the rest to make more profits. Cash out has been one of the welcome features in most bookmakers.
- In-Play Betting
With this feature, they blend well with odds. Some of the odds that will be provided are not the best. However, worry not. With the in-play feature, you are allowed to place a bet on an ongoing event and the best part with the feature is that the players take advantage of the enhanced odds which prove to be among the best. Through them, players can make sizeable returns and would minimize losses in some cases.
- Live Streaming
Last but not least, there are some bookmakers that have gone ahead to introduce the live streaming feature in which players can access various select events. For the many out there, some of the common sports they have focused on include; Soccer, Tennis, Cricket, Basketball, Horse Racing and Greyhounds. Most do not charge for the service and they only require your account having funds and you will be good to go.
To sum it up: What Did We Learn About Betting Basics?
Betting becomes easy when important basics are at your fingertips. Before placing a bet, understand how the platform operates and also the features it has provided to the players. But as every platform emphasizes, betting can be addictive hence bet responsibly.