Are you new to Sports Betting? Do you want to know how to get started? This guide will give you tips that you need to know before embarking on betting. Before joining a betting platform like betway98, you should equip yourself with some basics. Below are the simple basics and tips for you:
Set a Budget
This is the first step, and it is very crucial. You need to know the amount of money that you are ready to risk. Remember, you may win or lose. No one wants to lose everything they have worked for.
Since you are a beginner, chances that you are going to lose are very high. You need to set up a weekly or a monthly budget, and you need to stick to it. It is very disheartening to lose a lot of money. Once you gain experience, you can always increase your budget.
Decide What to Bet On
Some years back, people could only bet on mainstream sports events. Today, there are so many betting options. Betting sites like Betway88 are providing markets on virtually every sport that is played professionally. Since there are many options, you cannot choose everything; you need to decide what to focus on. It would be best if you made this decision before you can start betting. You also need to know that:
- You cannot bet on too many different sports.
- Some sports are not played throughout the year.
- Some sports offer more betting opportunities than others.
Just take your time to decide which sport or sports will meet your needs.
Join a Betting Site
Joining a Sports betting site is not a hard thing to do. You need to enter a few personal details like; your name, address, date of birth, and email address. You can also choose a username and a password.
For you to select an online betting website, you need to know that they are so many. You are using real money to bet, and you wouldn’t want to join websites that are not reputable.
You’ll need to find out the best sites that provide the best services. You need to research the best betting sites at this moment in time. It is also a good idea to have accounts with more than one betting site.
Learn About Odds
In sports betting, odds play a very vital role. You need to know that odds can be expressed in three different formats, they are used to calculate the payout from winning wagers, and they can also indicate how likely a bet is to win.
The three different odds formats are decimal, moneyline, and fractional.
- Decimal odds are displayed as a single number, typically of two decimal places or more. For example, 3.20 or 2.123. Payouts are calculated by multiplying this number by the stake. A $10 stake for 3.20 would be $32, which includes the initial stake, too, so that the profit would be $22. This format is used by many online sports betting sites like Betway88 and the others.
- Moneyline odds are also called American odds because they are commonly used in America. These odds usually are displayed as single numbers preceded by either a + or a – sign. Odds preceded by a + sign are odds against while those preceded by a – sign are odds on. When the number is positive, moneyline odds will show how much you can win based on $100 wager. A $100 wager at +300 would win $300. When the number is negative, moneyline odds will show you how much you need to stake to win $100. If the odds are -160, you would need to stake $160 to win $100. Your total return would be $260.
- Fractional odds have mostly been used in the United Kingdom. They are slowly fading away because they are the most complicated.
Learn the Simple Wagers
As a beginner, you need to know of the simple wagers. We have the:
- Win bet/ moneyline bet-this is the simplest of all sports wagers. It is a wager on which team or individual will win a game.
- Point spread wagers-these are a little more complicated. They are popular in the United States.
- Total wagers-they are easy to understand. You simply have to bet on whether the actual total in a game will be higher or lower than the betting site’s total.
- Futures-they are also known as outrights. They are very straightforward. They are wagers on the winner of an entire league or tournament, placed before it starts.
These steps are essential, and once you have mastered them, you will be good to go.