Sports betting on sites like Vulkan-Bet provides you with a way to win money on top of enjoying your favorite sport. However, you must treat your bet as a business. Otherwise, you may lose a lot of money if you wager emotionally. To do this, follow our 12 tips on how to bet on sports.
1. Know the Favorites vs. Underdogs
When bookmakers publish their lines, they have already made a thorough analysis of who is going to win. As such, it always makes sense to wager on the favorite.
Although the favorite pays less and you wager more, there is a higher degree of security to it. It is much better to wager on the favorite, especially if you are unsure about your pick. In general, following a service like Doc’s free sports picks can make your choice much easier.
2. Understand Point Spreads
Point spreads are nothing more than a margin of victory. For example, you can say that the Lakers will win the game by 7 points. If you wagered on this and it did not happen, you would lose even if the Lakers won.
A point spread is an excellent wager if you want to bet on an underdog. As you can see, if the Lakers won by one point only, you still win if you wagered against the Lakers that they would win by 7 points.
3. Read the Moneylines
The Moneyline contains the betting odds. Consider this Moneyline:
- Lakers: – 200
- Bulls: +200
You must wager $200 on Lakers to win $100. On the other hand, you must wager $100 on Bulls to win $200. From here, you know that the Lakers are the heavy favorite. You need to risk more to win a little.
4. Bet on Over/Unders
As a beginner, you must understand how to bet over/under. Here, the bookmaker will predict the total number of points for both teams. For example, they will predict that the total score after a game is 100.
Now, for example, here are the results of the basketball game:
- Lakers – 120
- Bulls – 107
The total score is 127, which is higher than 100. If you wagered over 100, you win. If you wagered under 100, you lose.
5. Pick a Good Betting Site
An excellent betting site is one like Vulkan Vegas. You must pick a sports betting site that covers a lot of games. The sports betting site must also have a license to operate. Make sure they are legitimate.
6. Get Bet Bonuses
Sing up for sports betting accounts from sites or companies that offer bonuses. This way, you get more value for your money. Bonuses are free money you can use to wager.
7. Study the Record of the Player
Take the time to study how the teams or players have performed in the past. Do not place bets from your heart. Keep in mind that no matter how much you dislike a player, you must bet based on a business mindset.
8. Set a Betting Limit
Never wager more than what you can afford to lose. One mistake that people make is that they “believe” they will win. Then, they lost.
Do not bet any money that you need for your living expenses. The only money you wager is the one you can afford to lose.
9. Hedge Your Bets
Do not make one bet. For example, if you wagered on the favorite on one bookmaker, try to bet on another game where you have better odds of winning.
Here is an example:
- Lakers vs. Spurs with odds of 1000:1 for the Lakers.
- Bulls vs. Bucks with odds of 1:1.
Here is how you hedge a bet:
- Wager $250 on the Lakers
- Wager $125,000 on the Bulls
Your total wager is $125,250.
Here are the scenarios:
- Lakers won, Bulls won – you win all bet
- Lakers won, Bulls lost – your profit is $124,750
- Lakers Lost, Bulls won – you lost $250
- Lakers Lost, Bulls Lost – you lost $125,250
In this case, you only have a 25% chance of losing everything, a 25% chance of losing a small amount, and then a 50% chance of profiting from the hedge.
10. Bet Small at First
Do not bet a huge amount immediately, especially if you are new to sports betting. Bet small. Find a sports betting site that allows you to wager a small amount of money. Practice until you understand how sports betting works.
11. Shop for Betting Lines
Do not just play or wager on a single sports betting site. There are hundreds of them in the market now. It will do you good if you shop for odds. Some bookmakers offer better odds and payments than others.
12. Focus on One Sport at a Time
Focus on one sport at a time so you can wager appropriately. Avoid the noise of the betting world. Study your odds on a particular sport, and then concentrate on it. Once you know the industry well, you can move on to another sport.
Summary
Sports betting is fun but more fun if you win money. Although there is no telling whether you will win, you can increase your odds by betting on the right player or team. To succeed in sports betting, you must treat it as a business. Exercise patience, take your time, and make bets that make sense.
