We know that you all love betting but you should not simply rush into it. It is very important for the beginners to understand that they don't end up losing all their money just for fun. Online betting is a great experience but one should also remember to not go too fast. Our aim is not to discourage you from spending time and resources in betting but learn the art of betting before you make any big move. It is a good thing to learn from experiments but that’s not how a genius learns.
We are here to give you certain tips about online betting which will make you an expert in no time.
First thing to remember is to place your trust in the platform you are choosing for online betting. Keep in mind that you choose the right website like Livebid for online sports betting. It is the most trusted sports website in the country where you not only get diverse options regarding your favorite sport but also, get to stream your favorite sports in real time. It uses the safest payment outdoors like PayTM, Google Pay, etc… for transactions and putting your money on bets.
You should always set achievable goals whenever you plan to get involved in online betting for economic reasons. It is very easy to win a few bets for fun purposes but if you plan to get involved in sports betting for huge economic benefits, you should have a deep knowledge about the sport.
To begin with, always put small amounts of money if you are new to the world of betting. There are only a few people who make money in the beginning but as you get more experience and knowledge, winning becomes easier. Some people think that they can make money if they have knowledge about sports but this is a huge mistake.
It takes much more than just the sports knowledge like a good understanding of the statistics, betting and gambling to actually win the money. It is important to avoid setting unrealistic expectations and goals as they will only make you feel worse. You should learn all the basics about sports betting, gambling, statistics, sports wagers and money making before you even think to jump into the betting niche.
You should be aware about the terms like parties to the wagers, selection, stake, odds and payouts.
You should have at least some knowledge about the parties to the wagers which are the people betting on the event for an outcome different than what you predicted. You should also know a little more terms like point spread or handicap, totals or over/under, prop or specials, futures or outright and parlay or accumulator.
Besides these, you should also have some knowledge about different types of sports betting like In play/live betting, exchange betting, spread betting, pari-mutuel betting and E-Sports betting.
You should also set a betting budget and use a stake plan. It is always good to have a plan and back up plans to avoid getting broke because many people actually make the mistake of consistently betting their money without a plan and end up losing all the money they have.
No matter how much you plan about betting only once or keeping it a long term job, you must have a budget for every bet. You should be mentally prepared about the loss too.
You should be as selective as you can. You might think that putting your money in multiple bets is a good option as you might win at least a few if not all of them but it is definitely a bad idea. You should be very selective about the bets you decide to invest in so that you don't waste a lot of money.
It is also important that you don’t stick to any single one sport in the beginning but also don’t get into every other sport. Once you find the sport you would like to get involved with for long term betting’s, try to learn all the tips and tricks about the niche.
You should be well learned with the concept of value. It is a super easy concept which is basically used to measure the relationship between odds of selection and the probability of predicted outcome. The higher odds are directly proportional to probability of winning or getting the predicted outcome. You should put money in the bets with a higher value so that it gets profitable as it gets. If you have any plans to make money from betting then you should definitely understand the concept of value in detail.
You should also learn some basic sports betting strategies as well. Most people don’t pay much attention to the betting strategies but you should definitely learn them to win money every time you bet. The basic betting strategies you must learn are chasing steam, fading the public, looking for off-market prices, arbitrage betting, basic situational handicapping, and low risk multiples and matched betting with bonuses and free bets.
Besides these, you must compare odds and lines every-time you bet. This is the easiest tip for you to follow. It is a very simple task and hardly takes a few seconds. Not all websites offer odds and lines but you can work on them yourself once you learn a few tricks. The difference between odds and lines is small in the beginning but adds up with time.
It is essential to keep a record of your live betting’s. Only a few people choose to keep a record of their betting which is a huge mistake. Keeping a record lets you keep a track of how much you are spending and you can stick to your planned budget. It also gives you good information about your performance in bets and provides a huge scope for improvement. You should keep a detailed record of selection, odds of selection, size of stake, result of wager and payout received every-time you win.
One of the most important skills you need to learn for betting is to ignore your personal biases. It is a commonly made mistake in betting to ignore what statistics say and go with what you think is right. Do not make this mistake and trust your knowledge. Trust what statistics and data tell you. Trust your judgement.
Also, you should keep in mind that you don’t get too overconfident once you start winning a few bets. Many people get overconfident and start losing bets which feels devastating. You should also learn to deal with losing.
It is a brilliant idea to join a betting blog to get as much knowledge as you can. Spend a lot of time on researching for even better results. It is also important to take regular breaks.
So, now as you have learnt some really good tips about betting, it is the time to go out and experiment with your knowledge.
You can Sign Up to Livebid and start betting on your favorite sports. The website has a diverse set of options to choose from and make as much money as you can in the safest ways possible.