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Top Tips for Sports Betting

When it comes to sports betting, it can be hard to know what to do. There are so many bookmakers out there, so many things to bet on, and if you’re not good at maths, you may struggle understanding odds. So, we thought we’d put together a guide of some of the top tips when it comes to sports betting. Something to help you better understand the industry and to help you decide if it is for you.

So, without further delay, here are some of our top tips.

Do your research

Research before doing anything is important, but more so when it comes to sports betting. You can go in without any prior knowledge and start placing bets, and you may get lucky and win big. But, it is those who do their research who tend to benefit the most and enjoy more regular profits. That’s not to say researching will help every time, because upsets can happen. Afterall, they do say every underdog has their day.

But, by researching the markets you’re looking at betting on, it gives you more knowledge to help assess the risk. Because betting is always a risk, with winnings never guaranteed. However, if you look at the statistics of form, past meetings, and current changes to teams or squads, it can help you make decisions on an informed basis. Allowing you to identify the best markets to back with the highest likely chance of seeing a return on your investment.

Use a calculator

Now, we aren’t talking about normal calculators, we’re talking about sports betting calculators. These allow you to work out what returns you’ll see by inputting your stakes and odds, and calculating what the payout would be. There are a whole host of different style calculators available, and if you use the right ones for your bets, you can use a betting calculator to predict a win.

You may need a little practice, but you’ll soon be able to master these tools, which you’ll find free-to-use, and the benefits could soon pay off.

Cover your bets

Now this works in a few ways. You’ve got horse racing for example, where you can bet outright on a horse to win, or by doubling your stake you can cover them each way. It’s like insurance on your bet. So if your horse doesn’t finish first, but places maybe second, third or in some cases fourth, you’ll still see a profitable return on your bet.

In events such as football, you can find double chance bets. So, in this scenario, if you think a team could win, but it may be close, you can also cover a draw on the same bet. Allowing you to cover your bets and reduce the risk of losing money. It’s ideal for those games that are a little too close to call. You can even rule out the draw and cover either team to win the game.

But the most impressive way to cover your bets is through arbitrage betting. It’s where you cover all outcomes of an event, placing different stakes on each outcome. This normally works best by visiting numerous sportsbook sites to find the best odds for each outcome, then working out how much you need to place on each outcome at the odds available to ensure that, no matter what, you’ll win some money. It can be a long game as you will win less this way, but it is the safest way to bet with no chance of loss. Although it won’t work out for every event out there.

Know when to stop

One of the best tips we can give you is to know when to stop. Set yourself limits. You should never bet if angry or down, as this can lead into a downward spiral. You could end up placing more and bigger bets to cover losses, and before you know it, you’ve blown your lot. It’s also important to only bet if you have the funds available to do so. Never bet with money you don’t have. If gambling is a problem for you, there are numerous agencies and charities available to contact for help, and the sportsbooks themselves will likely be able to give you these details if needed.

By Joshua Maddox