If you’re like us, then you most likely find watching sports and trash talking to your friends a very enjoyable activity. It also probably means that the notion of turning your knowledge into money has occurred to you at least once. With sports betting becoming more and more popular on a global scale, now is the ideal time to jump on the bandwagon. A little bit of preparation can turn a beloved hobby into some extra cash on the side and these five tips will show you how.
1. Be Honest with Yourself
Trash talking with your friends may be fun, but it’s easy to get carried away just for the sake of some friendly jabs. Sports betting is no different – you can easily become infatuated with some great odds on a sport you don’t know nothing about. Don’t take the bait, as you don’t know how many variables determine the final outcome.
Instead, try expanding on your existing knowledge about sports that you love. If you’re an NBA fan, stick to NBA-related news and learn the intricacies of betting on basketball. Wanting to bet is awesome, but having a clear direction is even better.
2. Stay Informed
Think about how many unexpected things happen during an average, let’s say, NFL season – players getting suspended for PEDs, coaches quitting, terrible injuries, bad front office decisions, and so on. The point is that you need to stay in the pipeline to know how to structure your betting slips and which teams/players to avoid.
Additionally, you need a source of information about betting itself to help you navigate the learning curve and memorize the technicalities. This approach is much more beneficial to both you and you bank account when compared to “learning on the fly.”
3. Discipline is Everything
Having several winning slips in a row is a dream-come-true for every bettor, not just rookies. Sadly, a lot of sports betting aficionados think that this is some kind of sign “telling” them that they should wager more in the future. It’s not.
No matter how much you win, stay true to your initial plan. If you planned to spend $50 this week, don’t go a cent over the limit. Failing to do so will create bad habits, which can easily lead to problem gambling.
4. Keep Records
Perhaps the most efficient way of protecting your bank account is keeping records of your bets. Whether you’re using a mobile app or going to an in-casino sportsbook, it’s easy to access your betting history. This allows you to have an objective outlook towards your success with gambling.
For instance, if you see that you’ve failed to win two weeks in a row, maybe it’s time to take a break and cool off. Sports Betting is supposed to be enjoyable, while stress only proves to be detrimental to this experience.
5. Expect to Lose and Treat the Money as It Is Already Lost
While this may sound a bit unorthodox, having ground-level expectations lets you have a clear mind while placing bets. It’s unreasonable to expect a certain game to play out in your favor. Even the best bettors lose 40-45% of the time.
If you treat your wagers like money you’ll never see again, you’ll either be exhilarated if you win or you won’t be disappointed if you lose. It’s a win-win situation.