Most novice bettors find betting a quick and relatively easy way to get rich. But after a series of unsuccessful bets, their enthusiasm disappears, as well as they lose the money. So, if you are the one who does not want to repeat the mistakes of other bettors, then be sure to read this post. In this post, we are giving you all the essential details regarding placing bets, how to win, and lots more. You will also get the knowledge about analyzing the sports events correctly and place bets on betting sites to win big.
How to start playing at a bookmaker?
You should not rush into betting as soon as you create an account at the betting site. At first, you need to deal with the “materiel”. It means a user must understand the principle of the online bookmaker and learn the terminology of sports betting. The most stupid mistakes done by the novice bettors are connected precisely with an improper understanding of terms and schemes. So, the inability of users to read various rules, terms, and conditions leads to loss. Whence, we are here to tell you everything in detail so that your bankroll does not melt after a few bets.
An overview of how to bet at a bookmaker :
First of all, you have to choose a bookmaker for placing bets on various sports. After that, you have to open an account with a bookmaker. Make a deposit and receive a welcome bonus. Select the sports or tournament on which you want to bet. Then, generate a coupon and enter the bet amount. Finally, confirm the bet and wait for the result.
What a beginner needs to know: basic concepts in betting
Before you learn how and where to place bets on betting sites, you must understand the terminology very well. So, let’s start with the basics – the definition of “Bookmaker”. Once upon a time, this word was used to refer to those people who accept bets from gamblers and argue about the result of an event. Moreover, these disputes or arguments did not necessarily about the sports matches. Most of the bets were made on the results of horse racing and dog racing. But today, with the advent of technology, a bookmaker is referred to as a specialized Internet site that performs the same functions, such as accepting money from gamblers who want to bet.
Officially, the bettor tries to beat the bookmaker, but in fact, he makes a bet with other clients as well, who bet on the opposite result of the event. In these disputes, the bookmaker is an intermediary, which accepts money from both sides, and then gives all the winnings to the winner.
A stake placed on the outcome of an event is called a bet. In modern bookmakers, players can place different types of bets, depending on the number of selected outcomes. If one outcome is selected and the bet is placed on an entire amount then this bet is called a single or ordinary bet. Another common type of bet is called “express”. In this case, the bet amount is placed on several outcomes included in one coupon.
A coupon or basket is the section of the betting sites where bets are placed. In the coupon, a player enters the bet amount and finds out the scope of the potential winnings. The coupons of different bookmakers provide functionality for placing a bet quickly on a fixed amount of money such as 100, 200, 500, and so on.
Placing a bet in a bookmaker’s coupon :
In all the sports events, the outcomes in which a bet is placed, are in the betting line. These are conditionally divided into pre-match that includes the bet before the starting of an event and live bet that is placed during the event. The main page of all the betting sites mostly has the mainline. In the mainline, the bookmakers include the most popular events from the world of sports. Moreover, generally, the main outcomes offered are the victory of the first team, a draw, and the victory of the second team. Sometimes, you can also find a total number of goals and a handicap which is a conditional advantage of one team over another.
# Outcomes in the mainline of the bookmaker
On the betting site, you can choose the sports event of your choice in which you want to place bets. By clicking on any sporting event, you can see all the outcomes or markets within a single match, on which the bookmaker accepts bets. So, if there are more outcomes available for betting, then beginners are advised to bet on the main outcomes.
In the list of all sporting events, the outcomes are accompanied by numbers, generally in the form of decimal fractions. These numbers are called coefficients, and they indicate the probability of winning when a bettor bets on a particular outcome. The smaller the number, the higher the probability of passing the bet, but the number of potential winnings will be small as well. For example, a bet of 1,000 INR on an outcome with a coefficient of 1.10 will bring the player 100 INR of net profit if he wins. And if you put the same 1000 INR on the outcome with a coefficient of 2.50, then the net winnings will be 1500 INR (1000 X 2.50 minus the bet amount).
The margin of a bookmaker is exactly what the organization earns. For the bookmaker, it makes no difference what the result is after the ending of a match. This is so because it will receive the “commission” from each player who has made a bet.
Different types of Sports betting :
As you know there are numerous betting sites that are known for sports betting. The number of bets offered by modern bookmakers is sometimes difficult to count. In some bookmakers, you can even bet on the number of challenges made by a football player during the match. But it is not recommended for beginners to bet in such conditions. In addition, the bookmaker’s margin on such outcomes usually rolls over. Thus, some of the most common bets are discussed below :
1. The outcome of the competition
This is the simplest, most understandable as well as popular market in which a player bets on the victory of one of the participants or teams and on the draw if mentioned in the rules. In the list, you will see the bets on the outcome have the following designations:
- P1 (victory of the first team)
- X (draw)
- P2 (victory of the second team).
2. Double chance
This type of betting is similar to the main outcome in many ways, but the only difference is that it is less risky. In double chance betting, the player can bet on double results:
- 1X – first team win or draw
- X2 – second team win or draw
- 12 – First or second-team win
- Total over or under –
In sports betting sites, you can also place total over or under bets. Total is the total sum of goals, corner kicks, yellow cards, and other statistical indicators that have a quantitative form. Most often there are bets placed on the total goals scored by one of the teams or both as per the results of the half or the whole match.
4. Handicap
A handicap is an artificial advantage that the bookmaker gives or takes away from teams. For example, a bet on the victory of the favorite team of the match will be unprofitable due to the low odds. But you can bet on a negative handicap of the same favorite team on more attractive quotes. Handicap (-2.5) means that 2.5 goals are taken away from the favorite team before the starting of an event. Additionally, the bet on this outcome will be winning if the favorite wins by 3 goals or more.
5. Accurate score
As its name suggests, this type of betting is based on placing the bets on an accurate score. Though, it is very difficult to predict the accurate odds and is always accompanied by high odds. Furthermore, in this case even very high-quality analytics will not help because most sporting events are very unpredictable. Besides, these outcomes have a standard form of 0:0, 1:0, 1:1, 2:2, and so on.
6. Time match
Bets on these markets involve predicting the outcome of the first half and the match as a whole. It mainly looks like :
- P1 / P1 – The victory of the first team in the first half and match
- P1 / P2 – The victory of the first team in the first half and the second team following the results of the match
- X / P1 – Draw in the first half and victory of the first team on results of the match and so on.
7. Asian Total
Asian Total is not available in the line of most of the sports betting sites. Different from the usual ones, the odds on Asian totals, contain quarters after the whole number such as 1.25; 1.75; 2.25; 2.75, etc. Such a total covers two immediate outcomes at once. For example, a bet on a total over 1.25 covers the outcomes of over 1 and over 1.5. If the match ends with a score of 1:0, then the bookmaker will return half of the bet to the player. Also, with a score of 1:1, the bet will be winning, since both outcomes of TB 1 and TB 1.5 will play.
8. Ordinary
This is the most common type of bet, in which the bettor bets only on one chosen outcome, irrespective of the market. It can be a bet on the main outcome, a total, a handicap, or even an exact score.
9. Express
In this type of bet, the bettor bets “wholesale” on two or more outcomes in one coupon. The coefficients of individual outcomes are summed up. Moreover, express bets attract beginners, but this type of bet cannot be called profitable. Hence, in addition to the coefficients, the bookmaker’s margin is summed up.
10. System
In various sports betting sites, you will also find system bets. A system bet is a combined bet, which includes several players. Unlike the other bets, such types of bets can win even if individual selections do not win. The system must include at least three choices. For example- In a line, you choose four outcomes in different events, add them to the coupon. So, if the functionality of the online bookmaker allows you to create a system, choose this type of bet. Then, your 3 out of 4 bets will win if three out of four selections are played.
How the bookmaker works: Low odds and margin
After knowing the types of bets, you may be wondering how a bookmaker works. We already talked about the fact that in a bookmaker a player makes a bet with another player only on different outcomes of one event. So, the question arises what is the benefit of the bookmaker’s intermediary functions? The answer is very simple- The margin brings profit to the bookmaker. This is a conditional value, which is included in the coefficients of the outcomes of sporting events.
For example, in a match between two absolutely equal teams, the coefficients should theoretically look like 2.00 to 2.00. But in the betting site you will not see such figures. Depending on the policy of a bookmaker, equivalent bets may look like 1.80 / 1.80 or 1.85 / 1.85. For the most generous bookmakers, such quotes look like 1.95 / 1.95. This difference is the margin or in other words we can say that the bookmaker’s markup for their services.
So, for calculating the betting margin individually in a two-way event, you can use a simple formula –
Margin = (1/odds 1 + 1/odds 2 – 1) * 100%
Furthermore, nowadays, bettors have access to convenient online calculators that allow them to calculate the margin of a bookmaker quickly. With its help, it is easy to find the most profitable quotes by analyzing the odds in numerous bookmakers.
What to bet at a bookmaker?
Knowledge and experience are the key success factors in betting. If you know how to bet on betting sites, especially on sports then you know only the practical part. But it is very important to understand its theory as well. Every novice player should understand that a good knowledge of a particular sport increases his chances of winning. Most beginners start playing popular sports such as cricket, football, basketball, and hockey. But you must know the statistics of some popular leagues such as the Indian Premier League, Champions League, the Stanley Cup, and others, and should be able to conduct a qualitative analysis.
As you know, sports are unpredictable and no one can confirm which team will win, or which players will perform well today. Sometimes, even the most obvious favorite team or a player can stumble in a single match, while infamous underdogs can surprise with their performances. Besides, a good example is the sensational victory of the Denver Nuggets club in the NBA semi-final series from the Western Conference. The Nuggets were losing the series 1-3 and were underdogs against the Los Angeles Clippers. But by winning the three matches in a row, they managed to bounce back and knock out the favorite from the playoffs.
So, before going for placing the different bets, it is advisable for beginners to make single bets at first. Also, they should bet on the most popular markets such as the main outcomes (W1/X/W2), totals, or odds. There are many betting sites where a demo account is provided. If the bookmaker chosen by you for sports betting provides this option then be sure to use this opportunity. In this way, you will be able to gain initial experience in making bets, and also avoid a quick loss of the bank. After all, bets on a demo account are not made with real money and you will get a good idea of how everything goes.
Moreover, after some time when you “fill your hand” and learn not to go into a deep minus on singles, you can move on to more complex types of bets such as express bets. Also, as we told you the probability of losing a bet on two, three, or more outcomes is significantly higher than that of a single bet. In addition, the margin of all included outcomes is summed up in express bets, which makes such a bet as profitable as possible for the bookmaker, but not for the bettor.
What is better to bet on to win at a bookmaker?
As there is no easy prediction of sports or perfect strategies, similarly there are no win-win bets. If you are the one who is just starting out on your betting journey, then you must follow the guidelines given below :
- It is not good to bet on sports you don’t know just because of the favorable odds.
- Do not bet on events involving teams or athletes you do not know.
- Avoid betting on games in minor leagues or amateur tournaments where match-fixing is still an issue.
- Choose sports and tournaments that are familiar to you for betting. Make simple single bets on outcomes from the mainline.
- Last but not least, choose the bookmakers or betting sites carefully. There are many bookmakers that are not reliable at all or don’t have an authorized license. So, always choose a trustworthy betting site otherwise you may lose your money.
What can you bet on other than sports?
With the passage of time, online betting has gained huge popularity. People are taking more interest in online betting and also winning big in the form of real cash. So, the choice of bet in the lines of different betting sites can vary significantly. There are some bookmakers that accept bets exclusively on events from the world of sports in the pre-match line, Live section, and sweepstakes. But some bookmakers also offer bettors a wide range of events from the world of eSports, politics, culture, and show business. Bets are accepted even on the weather, exchange rates, and space flights. In order not to make a mistake with the choice of a suitable betting site, you must carefully study the rating of the best bookmakers on the internet. Many times, there are unreliable bookmakers in which the possibility of fraud is high.
Besides, whether it is worth playing in “non-sporting” markets is up to you. The recommendations for others are also the same. Always choose for bets only those areas and events in which you are well versed. After all, the ability to correctly analyze is the key to a successful game and increases your chances to win real money as well.
How to bet on sports: Tips from profitable players
Betting is all about experience and having a good knowledge of a particular sport in which you are going to place bets. It is not so easy like you decide to bet, deposit amount, and place bets without knowing its basic rules and important strategies. So, it’s always good to follow the tips of experienced bettors who know well how to place bets, analyze the particular sport, and lots more. Hence, the recommendations from professional players who really make money on sports betting can be of great benefit to beginners. Below you will find some important information about well-known betting schemes and strategies, including financial ones, and others.
1. Decide the purpose of playing at the bookmaker
So, what do you expect from bets – a dose of adrenaline and quench your thirst for excitement? Or is your goal to make money? Even if you perceive betting as a harmless hobby, you still don’t want to lose real money. And if you manage to achieve tangible success – not from time to time, but precisely at a distance, then why not develop the acquired skills? Since betting in a bookmaker is for money, this matter needs a serious approach. Thus, it is very important to decide the purpose of placing the bet on a betting site.
2. Control your bankroll and risk
In addition to choosing the best betting site, it is also very important to control your bankroll. Each player allocates a certain budget (bankroll) for bets at the bookmaker. The amount of each individual bet depends on the size of the bankroll, as well as their number for a certain period of time. On the other hand, sometimes even the most successful bettors do not win a good amount of money and lose. Even though they lose, they don’t get sad in fact they treat failure as a valuable experience. Therefore, manage your budget wisely and seriously evaluate the risks of each bet. In addition to this, there are various betting sites so you must choose one that assure the safety and security of your deposit amount. Hence, your financial tactics should not be based on the principle of “make or break”. You must know the plan or do an accurate calculation and stop depositing more money at the right time.
3. Learn to work with information
At the betting site, there are lots of chances that any information can become your assistant in the game or while placing bets. Of course, one cannot do without a thorough study of statistical calculations. But insider information and even “near sports” news, directly or indirectly related to the analyzed event, can change your initial tactics to place the bets.
For example – In the first round of the 2020 NBA playoffs, the Utah Jazz led the series against the well-known Denver Nuggets with a score of 3:1. There was only one win left to advance to the next round. But as soon as Jazz leader Donovan Mitchell turned his attention to political events and began to talk about the boycott of games, experienced bettors regarded this fact as an advantage for opponents and began to bet with favorable odds on the Denver Nuggets underdogs. Further developments only confirmed the correctness of their conclusions- the Jazz lost three games in a row and were eliminated from the playoffs.
4. Calculate the probability and look for the best odds
The bettors should never forget about the bookmaker’s margin, no matter how profitable the offered quotes seem to them. In another betting site, the margin for the same event may be less, which means that you will be able to earn more there. It is good to read the bookmaker line in terms of high or low odds as well. You must compare the number you see about the chances of opponents and the likelihood of a particular outcome according to your opinion. Hence, based on your analysis you must learn to find the underestimated bets or value betting strategy on which the bookmaker gave overpriced odds by mistake.
5. Keep statistics and improve your game system
In betting sites when a bettor place the bets then all the places bets are saved in the history of bets that can be seen in the personal account. But you should also accumulate your own archive, preferably with objective comments. “Here I made a mistake because I misjudged the attacking potential of the football team. And in this fight, I did not take into account the long downtime of the boxer, because of which he lost to a more enduring opponent”. The ability to draw the right conclusions from losses and correctly interpret winnings will help you to be in the black in the long run. Therefore, if you use one or two strategies for betting on a regular basis, then also draw objective conclusions that will allow you to improve your tactics and reduce risks while betting.
6. Don’t get emotional
While betting you must not get emotional as this increases your chances of losing money. One of the worst assistants to a player while placing bets is his emotions. As we mentioned above in the post, even the most experienced and successful bettors can lose. Thus, you must train yourself to stay within your predetermined budget so you don’t lose your entire bankroll in an effort to win back. The same can be said about the winning streak. There are many bettors that after various successful bets, often increase the bet amount in order to win even more on this wave of luck. So, usually, these types of emotional decisions have negative consequences, and a major loss refutes everything that is achieved previously.
Some reliable betting strategies that you must follow :
Betting always involves risks and modern betting uses a large number of betting strategies with varying degrees of risk. For beginners and advanced players, there are several approaches that are easy to understand and implement. Some of these approaches are given below :
1. Kelly criterion
The essence of this Kelly criterion system lies in the different assessments of the probability of a particular outcome by the bookmaker as well as the player. For example, the bookmaker’s odds for the victory of one of the teams is 2.85. That is, the probability of its success is 35%. But in your opinion, this outcome should have a coefficient of 2.20, and a probability of 45%. The difference between the numbers is in favor of your prediction, therefore, the bookmaker could underestimate the bet. Hence, this serves as a signal to make a bet.
To determine how much to bet, the Kelly Criterion formula can be used –
(Bookmaker’s odds X Prediction – 1) / (Bookmaker’s odds – 1) = Stake amount (% of pot
Plugging in the numbers –
(2.85 X 0.45 – 1) / (2.85 – 1) = 0.15
The optimal bet size for the analyzed event is 15% of the bankroll.
Thus, using the Kelly Criterion in practice, it should be understood that the player’s objective assessment of the probability of the selected outcome plays an important role.
2. Fixed interest from the bank
You should always try to place bets on a fixed percentage of the total budget, especially if you are a new bettor. As per a rule, beginners can make a bet in the amount of 5 to 10% of the bankroll. We also advise you to set the maximum daily budget, which will help you avoid quickly losing the money in a short period of time. On the other hand, if you made several unsuccessful bets then it is good to take a break and analyze the mistakes made. After that, you can continue playing another day with a set budget and of course a positive mind.
3. Fork Arbitrage (not for everyone)
In the world of betting, the so-called “forks” have long been heard. The essence of the approach is to find the difference between quotes for one event such as the Indian Premier League on different betting sites. So, if the difference is large enough, then the bettor will remain in the black by betting on opposite outcomes in these bookmakers.
So, the new bettors mistakenly believe that applying this approach will quickly enrich them. But successful “arbing” requires special software, rich betting experience, a deep understanding of the principles of the bookmaker, as well as the ability to choose the right bookmaker for such tactics. A single mistake by a player can lead to a reduction in the maximum betting limits, which makes the game meaningless. Also, some bookmakers can even block accounts for such violations. Therefore, arbitrage is not recommended for new or inexperienced bettors.
Why do novice players lose their money?
There is no one or a beginner who immediately understood how to bet on sports correctly, began to play successfully, quickly mastered strategies, understand the working of betting sites, and building up a bankroll. You should remember that everyone loses in betting. If it doesn’t happen then the bookmakers would not have become prosperous companies with multi-million dollar turnover. But it is totally in your hand to reduce the number of mistakes at the beginning of your playing career. You must consider the most common reasons for the losses of new bookmaker clients. Apart from this, some more reasons behind the loss of money of novice bettors are as follows :
1. Fixed games
Unfortunately, the problem of “agreements” has not gone anywhere from sports, whether it is cricket, football, or any other sport. In football, in the top championships, they encounter it much less often than it was ten or twenty years ago. But the minor leagues remain fertile ground for the enrichment of dishonest businessmen. Therefore, try to avoid betting on unpopular championships and supernumerary divisions. The risk of loss into a contractual game is very high, and it is quite difficult to make a high-quality forecast.
2. Bonus programs
Almost all beginners are attracted by the tempting offer given by the betting sites. The bookmakers promise to increase the deposit by 100%, give free bets, free spins, and lots more. But there is no cheating here, the bookmaker really gives new customers exciting welcome bonuses. However, the rules for wagering them are usually written in small print or generally transferred to other pages of the site. So, the bettors don’t focus much on those rules and finally lose money sometimes.
According to the rules, the bettors can withdraw the received bonus in the form of real money only after performing certain actions. For example, the player must bet five, ten, or even twenty times the amount of the deposit. In this case, bets with a coefficient not lower than specified by the rules are allowed. For beginners, such wagering conditions are almost always impossible to fulfill. Hence, in an attempt to win back the bonus, they safely lose their entire deposit.
3. “Catching up” lost bets
The desire of the bettors to recover all costs always plays a cruel joke with them. The strategy of “catching up” in an imperfect manner only contributes to the rapid loss of the bankroll. The principle of the approach is to increase the amount of the bet at least twice after each loss in order to cover the money spent. But in order to successfully catch up, you need to bet with fairly high odds. In addition, the player must have a good experience as well as an impressive budget for betting, otherwise, several failures in a row will devastate the bankroll.
4. Paid strategies and account promotion
The new bettors while placing bets in the betting sites want to move from theory to practice as quickly as possible, and preferably immediately to solid winnings. Such impatient ones can be trapped in the various offers such as buying a win-win strategy from them at a reasonable price. You should not respond to such offers because they will not sell you anything worthwhile. At best you will lose one deposit, and at worst an impressive amount of money. So, this type of approach is always doomed to failure.
Additionally, any proposals regarding the so-called “account promotion” are also a well-thought-out plan of scammers. With a high degree of probability, such an account will be blocked by a bookmaker. To become a successful player, move from simple to complex, accumulate experience, analyze your mistakes and successes and listen to the recommendations of Online Bookmakers.
Final Words:
Sports betting has always been a favorite betting niche for bettors all around the world. There are many sports betting sites that are reliable and have a good name in the industry. So, bettors should always choose trustworthy sites for betting as it involved depositing money too. Hence, we hope that this post will definitely help you in increasing your knowledge about sports betting, how to place successful bets, and lots more.