How to Start Sports Betting: A Beginner's Guide
If you like unscripted drama, boy do I have a concept to sell you. It's called sports, and every single facet of it is must-watch television. In today's world, the rate at which we consume breaking news in the sporting world is breathtaking. The rate at which we process, analyze and form thoughts on sporting events or players is next to none. If you enjoy doing all of that and want even more, I suggest you try getting involved in sports betting. Now, before you start worrying about needing to go into the shady room at the back of your local pub, I must tell you that only happens in movies. But you don't live in Las Vegas? Well, today's technology allows us to make bets from our computer or mobile device from anywhere in the world. It's really quite simple and extremely safe to do.
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If your interest is still piqued and you would like to get into the world of sports betting, let me walk you through a few important steps on how to get started and what to do or look for.
Choosing a Sportsbook(s)
First things first - you need a place to make your wagers at. If you live in Las Vegas and can physically get to a brick-and-mortar Casino to make a wager then you are all set. If you are like me and reside outside of Sin City, then you must create an account with one of the many online sportsbooks currently in market. For starters, the online sports betting industry has been thriving for the last handful of years and is only getting bigger and better. Before you create an account, I would recommend sifting through the list of Doc's affiliated sportsbooks and find one that fits your needs. Some sportsbooks offer reduced juice (5Dimes), while some offer an extensive list of in-game options and teaser options.
Some sportsbooks have a small minimum deposit requirement, but all of them offer a plethora of deposit methods. Once again, make sure to do your homework on a sportsbook before you sign up so that you are completely comfortable and understand their services.
Starting a Bankroll
Now that you've decided which sportsbooks you will create an account at, you must make your first deposit. Whether you plan on placing wagers sporadically for fun or with any sort of seriousness to turn a profit, you must be clear about your bankroll. It is vital that you separate your betting money from your normal money. This will help you keep track of whether you are actually winning or losing. However, more importantly, it will help you to avoid financial problems and avoid using money allocated for bills or groceries to fund this hobby. The more safeguards you have in place in terms of the bankroll, the better off you will be and the more enjoyable it will be.
Understanding the Odds
I understand the overwhelming feeling of looking at the odds board or
hearing new lingo and not knowing what any of it means. I was new to the
betting scene once before. If you are having trouble understanding the
lingo, our Glossary will
help you understand what every word/phrase in the industry means. In the
meantime, some of the most important things to understand in the betting
industry are the betting odds. There are a slew of different betting
options, but the odds and prices you bet on are what will make your break
your bankroll. You should understand the difference between a -115 line and
a -105 line on all point spread bets. With a -115 line, you must wager $115
to win $100. With a -105 line, you will wager $105 to win a $100. While the
$10 savings may not seem like a big deal at the time, trust me, it
over the long run. Something else to consider when trying to understand the
odds is the parlay payouts. While parlays are generally sucker-bets, you
want to be able to get full value if you do happen to hit one. Do your
research and find out what kind of odds each sportsbook gives out on two-,
three-, four-, 10- or even 12-team parlays.
Have a Game Plan
Looking at the betting board is essentially like being a kid in a candy store. There are so many amazingly good-looking options to choose from, and you want to pick a little from each shelf. In sports betting, that's the quickest way to go broke. My suggestion to you would be to pick one sport you enjoy the most or know the most about and stick to that sport. Doesn't matter if that's the NHL or MLB. The minute you start placing wagers on sports you know nothing about like WNBA or Tennis or the French Basketball League is the minute your bankroll goes from full to empty. Sticking to one sport will help you improve your betting habits and allow you to focus in and find league quirks, profitable betting situations, solid ATS teams, and everything in between. The more you know, the better educated your wager will be.
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