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A Complete Beginners Guide to Sports Betting – 5 Helpful Tips



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By Staff Writer

If you are new to sports betting and are looking for tips on how to begin, this is your guide. Over time, sports betting has evolved to online platforms like Betway, unlike in the past, where punters had to visit bookmakers physically. In this guide, you might not find everything you need to understand to begin. However, you’ll learn enough to get you started. 

Tip 1 – Have a Budget

Before you do anything else, determine the amount of money you are willing to risk. Once you know the funds available for sports betting, develop a plan. It could be a weekly or monthly financial plan. Then, ensure you follow it strictly. 

When you’re beginning, you’re likely to lose more than win, therefore only stake money you’re comfortable losing. It would be smart to begin with a minimal budget, even if you have more money at your disposal. 

After selecting a reasonable amount, decide how much you’ll stake per bet. You can start by wagering like 2% of the overall budget. 

Tip 2 – Settle on What You’ll Bet On

In the past, gamblers could only bet on mainstream sports activities. But, today, you can literally bet on every sport event. Online betting platforms like Betway offer markets on almost all sports played professionally. You can also bet on all the tournaments, leagues, and competitions. 

However, you cannot bet on all the sports. You need to decide on the sports you’ll focus on. Make this choice before you begin placing your bets. It would be best to bet on sports you are a fan of. Also, select a sport that has plenty of betting opportunities and is available throughout the year. 

Tip 3- Choose a Betting Site

You can place your bets in different ways. However, doing it online is the easiest way. There are many online betting platforms available, but you have to select the one you’ll use. Choose credible sites because you’ll be staking with real cash. 

Join a platform that has been in operation for some time and has a good reputation. You can compare the odds among the best sites and settle for the one that offers the best odds. 

Tip 4- Familiarize Yourself with the Odds

In sports betting odds play a significant role. As you grow in the venture, you’ll want to grasp everything about odds. First, understand the three formats in which odds are presented: decimal, Moneyline, and fractional. Decimal is the prevalent form on online platforms like Betway. 

Learn how to use the odds to calculate implied probability. Also, find out how sportsbooks utilize them to their benefit. 

Tip 5 – Study the Simple Wagers 

You can select from several sports wagers. It would help if you weren’t under pressure to master them all in the beginning. As a beginner, it would be best to start with the simple bets. 

Some of the simple bets include the Moneyline bet, points spread, and totals bets. Familiarize yourself with these simple bets then grow gradually from there. 

Bottom Line

Sports betting can be a fun way of making money. As a beginner, don’t be in a hurry to make the quick buck. Take your time to learn the art, then select a reputable platform like Betway and get started. Start with simple objectives, and then adjust as you become more experienced. 

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