Sports Betting Basics

sports-betting-basicsChristmas time is one of those times where sports betting gets ramped up a little bit. Now that it is getting colder outside, many people are looking for things to do and betting on their sports teams is one of those things.

If you are interested in placing a bet on a sporting event, you will first need to know how to bet on sports. This includes being familiarized with the different types of bets and how to read the bookmakers odds.

In the US, we are closing in on the college football bowl season. Many fans of their alma mater are going to be wagering on these games. For those fans, this may be a once in a while type of bet.

For other people, this is the beginning of the real sports betting season. Not only are their college football bowl games, but the NFL playoffs are almost a month away and the Superbowl is the sports event that is the most gambled on during the whole year.

Even the NBA will be coming back around on Christmas, so basketball fans will be back to betting on teams again. This will extend the season all the way to March Madness and the NCAA basketball championship.

So the point of this post is to give you some quick pointers to making your betting experience an enjoyable one.

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Keeping a Bankroll and Managing your Money

This is the most important thing to maintain if you are even a moderate sports bettor. If you are a good handicapper, all you have to do is manage your bankroll correctly and you won’t ever bust out.

The first thing you need to do is determine how much money you are going to start with in your bankroll. This is however much you are comfortable investing and possibly losing.

Poor money management is the number one cause of people busting out. This means if you have $1000 in your bankroll, you shouldn’t be betting $200 per game. The rule of thumb that I have always used is that you should never gamble more than 5% of you bankroll on any 1 bet and don’t gamble more than 15% of your bankroll in a night of games.

A lot of people will be perfectly fine winning small amounts and building a bankroll; but many people start chasing once they start to fall behind. This is called the “I’m due” effect. You may get lucky doing this, but you are setting yourself up to fail if you don’t have patience, self-discipline and self-control to stay the course.

One rule that you must learn is when to stop betting for the day. You must be strict on this no matter how much you want to make your money back. Everyone will have that one day where they bet on 6 games and lose 5 of the 6. If you don’t call it a bad day, it can become a horrible or unforgivable day really quickly.

If I ever lose 15% of my bankroll in one day, I am done betting for that day. If you are running into bad luck, try waiting a week or more and come back with a fresh mind and attitude. Chasing almost always leads to busting out. It’s just so tempting try to play double or nothing on one bet to make up for a bad day. That’s why I always limit a single bet to 5% of my bankroll at most.

Are you a fan of UK sports like the Premiere League football and cricket? You can bet on these sports and most professional leagues around the globe. Just take a look at Mobile Betting for more information. Sorry USA sports fans, but current laws won’t allow bets to placed over the smartphone.

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