12 Things Every New Sports Bettor Needs to Know

12 Things Every New Sports Bettor Needs to Know

sports betting

Sports betting has come a long way since the anti-gambling stigma that once existed faded from popular culture. In fact, sports betting is now legal in many states and continues to expand at an astounding rate, resulting in a huge multi-billion dollar industry. As the legalization of sports betting becomes increasingly widespread, millions of sports fans are considering placing their first bets, but it is important to understand the terminology and fundamentals before you start betting. Here are 12 things every new sports bettor needs to know.

Understand the Basics

Sports bets can range from moneyline bets to spread bets and totals, and understanding these types of bets is essential for any aspiring bettor. A moneyline bet pays out based on the outcome of a game, while a spread bet pays if the favorite wins by a certain amount. A total bet, on the other hand, predicts how many points will be scored in a game, and can be placed on either sides of a game.

Another type of bet is a prop, or proposition, which can be placed on a specific aspect of the game, such as how many field goals a team will make, or how many rushing yards a particular player will have. These bets are often less lucrative than straight bets, but they can add a level of excitement to your wagering experience.

Separate Yourself From Fandom

Whether you’re a diehard football fan or a casual basketball observer, there is always the risk of getting emotionally invested in your wagers. When this happens, you may find yourself making irrational decisions that can cost you dearly. A good way to avoid this is to set a budget that you are willing, in the worst-case scenario, to lose. This is called your bankroll, and it is a vital tool for any successful bettor.

Once you’ve decided on a budget, it’s time to figure out how much of your bankroll you want to risk on each bet. This number will vary from bet to bet, but it should be a figure that you are comfortable losing. This will give you the confidence to keep betting, even when you suffer a few bad losses. This mentality will help you avoid chasing your losses and will lead to more profitable bets in the long run.