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Sports Betting: A Beginners Guide

People love to bet, it is an activity that has been carried out for centuries. Sports betting is the action of betting money on the outcome of a sporting activity, if the team or player wins, you win and if the team or player loses, you lose. The bookmaker will set ‘odds’ according to what they predict the outcome to be. If the bookmaker has decided that a team or player is likely to win, you will not stand to make as much money on the win as you would by betting on an outcome that the bookmaker does not see as likely. The bookmaker is not always correct in their predictions so betting on an ‘outsider’ can lead to significant gain if the outcome is favourable to you. The bookmaker does their homework by looking at form, past wins, team strategies, injuries, changes of manager etc so if you are hoping to win, you have to be prepared to do your homework too.

If you want to place a sports bet, it is common to use one of the online providers (such as rivalo.com), usually the site is easy to navigate but you do have to educate yourself so that you know what the odds mean and whether for example it would be appropriate for you to place a single bet or a multibet for example. If you chose to put a $2 bet on with odds of 2/1, if the outcome was a win, you would stand to gain $6, you would receive your stake back and you would receive 2x$2 according to the odds. If the odds were 14/1 for example, you would receive $30, again your stake would be returned plus 14x$2. It therefore makes sense to place your bet on the outcome with the better odds but that outcome according to the bookmaker is the least likely possibility and that is where you have to do your homework and look for opportunities to use some of the less likely outcomes. Professionals devise strategies to do that and with practice and experience, you can too.

Information can be accessed on the search engines and YouTube is often a good place for beginners. Do make sure that you understand the terminology as you want to be clear on what you are betting on. It is tempting to go with your emotions, you have a favourite team or player, you support them, you study their form and you want them to win. If you are going to make money at sports betting however, you will have to be prepared to make a bet on a team or player that you don’t particularly like or admire. The bet has to be placed objectively and not according to your desired outcome.

You have to be organised, decide on the amount of money that you want to bet and set the budget as it is easy to get carried away. Be patient and look for your opportunity and don’t rush into the first opportunity. If you are looking to consistently win, you have to be prepared to do a lot of homework and devise a strategy, so educate yourself and be prepared to learn as you go.

About RJ Frometa

Head Honcho, Editor in Chief and writer here on VENTS. I don't like walking on the beach, but I love playing the guitar and geeking out about music. I am also a movie maniac and 6 hours sleeper.

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