Betting is placing bets on various sporting events where participants predict their outcomes. This activity is not just a game of chance, but also a way of analysing and evaluating sporting events. The basics of betting include understanding basic terms and principles, from distinguishing between single bets and expresses to mastering the concept of odds and bankroll. Successful betting requires both a thorough understanding of your chosen sport and the ability to manage your finances for effective sports betting.
Basic terms for the bettor
Below we have listed the most common terms in the world of betting that are important to understand in order to bet on sports more effectively. Here is a brief explanation of these and some other key concepts before placing a bet at a betting shop.
Key Concepts
- Total (TB/TM): A bet on the total number of points, goals, scores etc scored by both teams or players during an event. TB (Total Over) means betting that the total will be higher than the specified number, while TM (Total Under) means the opposite.
- Handicap: A bet that takes into account the conditional advantage or disadvantage of one side. Handicaps can be positive or negative and are designed to even the odds in unbalanced matches.
- Handicap: Similar to a handicap, this is a bet on the score difference between two teams or players.
- Live Betting: Betting made during the sporting event itself. Different from pre-match bets, which are bets placed before the event starts.
- Double Chance: A bet on two possible outcomes in the same match, e.g. a win for one team and a draw.
- Odds: Figures showing the probability of a certain outcome and the possible amount of winnings.
- Bankroll: The total amount of money available for betting. It is very important to be able to control this amount, only in this way can betting bring pleasure and extra money.
- Bookmaker: An organisation that accepts bets on various events.
- Margin: The percentage a bookmaker charges for its services.
Types of bets and their differences
- Single Bet (Ordinar): A bet on a single sporting event. The winnings depend on the outcome of this single event.
- Express: A bet on several events at the same time. In order to win, it is necessary for all selected events to pass. The winnings are calculated by multiplying all odds. There is also a type of Express - Accumulator (Parlay). This is a type of Express where the winnings increase with each correct outcome, but are lost with any incorrect prediction.
- System: A combination of several Expresses. Gives you the opportunity to win even if one or more events are wrong.
Understanding these basic terms and the differences between bet types is key to learning how to do sports betting from your phone or PC.
Choosing a bookmaker and learning how to place a bet
Bookmaker betting is not just about picking a team or athlete. It is a process that requires understanding and strategy. Here are some practical tips and advice.
Choosing a Bookmaker:
- Research and compare different bookmakers on criteria such as odds, markets offered, bonus programmes and customer reviews.
- Make sure the bookmaker is licensed and has a good reputation.
Betting basics:
- To place the right sports bets, it is important to have an in-depth understanding of your chosen sport and analyse the statistics and form of the teams or players.
- You should start with one single pre-match event on a game you know well. Live betting can be difficult for beginners, especially on fast-paced sports such as hockey.
- Don’t bet the whole amount at once - divide your bankroll into several bets to reduce your risk.
Filling in the coupon Betting:
- Select the market and event you are interested in, then add it to your betting coupon. On bookmaker websites, you can often see the instructions for the coupons on the website. If something remains unclear, you can always write to the support service of a particular bookmaker and clarify the question. For example, how betting insurance works in a particular bookmaker.
- Carefully check the selected bet parameters, including the bet type, odds and the amount you are betting.
Follow the bet:
- After placing your bet, follow the progress of the event. Many bookmakers provide live streaming or live results tracking features.
Financial Management and Responsible Gaming:
- Determine a budget for betting and stick strictly to it. Avoid trying to recover losses with quick and risky bets. It is important to remember that betting, like online casino games, is primarily a recreational activity and not a way to make money on a regular basis. Even the strongest team can lose for a number of reasons.
Remember that how to bet correctly depends on your experience, knowledge and ability to manage your emotions. Betting on sports should be fun, not a way to make money.
Useful tips about bookmakers for novice bettors
Betting strategies and tactics are key elements of successful sports betting. To know how to place sports bets correctly, it is important to develop understanding and skills.
Learn the basic strategies:
- Long-term betting: Focus on long-term results rather than quick wins.
- Low Odds Betting: Less risk, but also smaller winnings.
- Betting on favourites: Play on the teams or players with the highest probability of winning.
- Learn betting strategies: There are many different approaches to betting that you may like. However, the foundation is always the same - allocate your funds wisely and analyse the teams’ fortunes.
Avoiding mistakes:
- Don’t chase losses by betting more.
- Avoid betting on teams you favour to prevent bias.
- Base your decisions on analysis and statistics rather than intuition.
Use bookmakers’ bonuses:
- Read the terms and conditions and requirements of bonuses carefully. Some bonuses have betting requirements or time limits.
- Use bonuses as an opportunity to increase your bankroll or try new strategies without a lot of risk.
Reading bookmakers’ rules:
- It is important to know the betting rules and terms of use of a particular bookmaker.
- Some bookmakers may have restrictions on deposit and withdrawal methods or other specific rules.
Responsible Gambling:
- Bet only the amounts you are prepared to lose.
- Maintain a balance between betting and other aspects of life.
Understanding these aspects will help you improve your betting skills. Playing the betting game in a compliant manner will help make your experience for betting on sports more enjoyable and potentially profitable.
General opinion on how to bet on sports
To know how to bet on sports correctly, it is important to first choose a reliable platform, relying on bookmakers rating, and consider the current betting league offers. Proper betting is based on in-depth analysis and sensible bankroll management. Using online resources to research teams and players, as well as closely following statistics and trends, increases the likelihood of successful bets.