The 15 Golden Rules of Sports Betting for Beginners

With the explosion of sports betting around the globe, it’s no surprise that sports fans are looking to leap into the betting world!

But while it seems relatively easy, there is a ton of information to grasp (and comprehend) if you want to be successful.

Betting websites in Canada are seeing increased action thanks to the sports betting boom.

Getting involved is simple, but it’s important to be prepared when placing your first bets. 

So, before you dive into the sports betting world, we broke down the top 15 golden rules of sports betting for beginners (in no particular order) to help you be successful at the start of your career!

1) Don’t Chase Losses

Chasing losses is never a good thing. You need to treat every loss (and victory) as a single wager. Chasing losses is the act of placing another bet immediately after losing a wager. This could lead to a downward spiral, causing more losses, as well as pain and frustration.

To avoid this, don’t worry about whether you’re last bet won or lost; all bets should be placed on their merit and value.

2) Do Not Bet Without Researching

While there is a ton of information to ingest for beginners, it’s important to research every bet you make, especially at the start! If this means you’re only betting on one or two games a week, then so be it.

As a new bettor, you want to ensure you’re prepared for every wager you place. So it’s important to bet only on games you have thoroughly researched. 

3) Never Solely Wager on Parlays

New bettors will LOVE the payout of a potential parlay victory. However, the odds of these parlays hitting are low. Parlay victories are few and far in between.

New bettors shouldn’t rely on parlay wagers to win when betting on sports. 

4) Always Bet With Your Head

The brain is a complex matter, and its use for sports betting is invaluable. When betting, listen to your head.

Your heart may side with your favorite team or player, but your brain is the most important factor when beginning your betting career. 

5) Only Bet What You Can Afford to Lose

Betting is not a get-rich-quick scheme. It’s a complicated process that can chew you up and spit you out. This is the reason why you should only bet what you can afford to lose.

Anything else could impact your daily life, which is not what sports betting is about. 

6) Only Bet On Sports You’re Comfortable With

Sure, it may be 4 in the morning, and European Badminton is a sport to be wagered on, but do you want to potentially throw money away? The same could be said about the major sports in North America.

New bettors should only bet on sports they are comfortable with, as that gives bettors the best chance of being successful. On Mostbet BD online, you can bet on more than 30 sports, including football, golf, tennis, basketball, e -sports and others.

7) Don’t Waste Money On Large Payout Bets

While the return on odds listed at +50000 might offer insane value, this is something you don’t want to touch until you’re a seasoned veteran.

The chances of these bets hitting are low, and for someone new to the betting world, you don’t want to throw money away. 

8) Never Place Your Entire Bankroll On One Bet

No matter what your bankroll is at, never place the entirety of it on a single bet. This is an easy way to lose everything. Once you make your first deposit, determine what percentage of your bankroll you’d like to wager with each bet.

As your bankroll either increases or decreases, you can adjust how much of your pot you’d like to wager on every bet. 

9) Don’t Be Afraid to Place Practice Bets

Practice makes perfect. Before using real money to place wagers, practicing with your bets (including research and preparation) can help you before stepping into the ring! 

10) There Is No Such Thing As a Safe Bet

While the heavy-sided favorite seems like the obvious choice, remember that there is no such thing as a sure thing. That means that the favorite is never perfect, and those who can’t lose bets fail sometimes.

When betting on something you think is a sure thing, make sure you’re doing your due diligence. 

11) Look For Bookies With Great Promos

Promotions are sweet. When joining a betting sites that accept credit cards, look for their promotions and sign-up bonuses. These bonuses and promotions could include free plays as well as matched deposits, so it’s important to research what these bookmakers have to offer. 

If you are living in the US, here is a list that shows the sportsbooks with the best betting bonuses. You can have a look and choose the offers that best appeal to you. As long as sports betting is legal in your state, you will be able to find a great bonus to start off your betting journey.

12) Understand Odds and Betting Lines

Since you are betting on the odds and lines, beginners should educate themselves on the different bet types as well as what the betting lines mean.

This will help new bettors become comfortable with what they are wagering on. 

13) Maintain Betting Records

At the start of your career, recording each bet and its result will help you identify what went right and what went wrong with your bets.

This can also be a useful tool to visualize betting streaks and betting history as well. 

14) Meticulously Manage Your Bankroll

To manage your bankroll, you want to carve out the preferred betting size of each wager. A good medium is 2.5% of your bankroll on each wager. This will allow your initial deposit to have longevity.

Don’t be afraid to decrease the percentage of your bets but if you are increasing your percentage, make sure all of the proper betting protocols are being followed. 

15) Place Wagers Without Bias

This is another important rule to follow. While the majority of sports bettors have favorite teams, their judgment is never clouded. Ensure when starting your betting career that when you wager on teams, you are doing so without bias. Whether good or bad, this will allow you to make a clear-headed decision. 

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