The best advice for those new to sports betting
Sports betting is a fun and exciting hobby that many Australian sports fans participate in. For recreational punters, sports betting can be an enjoyable pastime. If you are a beginner looking for some advice on how to get started in this field, read on for our top sports betting tips.
1. Signing up with online bookmakers
In order to increase your chances of making a decent profit, it is a good idea to sign up with a couple of online bookmakers. Having various accounts will allow you to compare sign up bonus offers and betting odds so that you can make the smartest decision on where to place your money. Online bookies make sports betting easy and convenient by providing mobile apps and other services that allow you to monitor the status of your bets and track your favourite teams from your phone or computer at any time.
When looking to create an account with an online bookmaker, be on the lookout for any available betting promotions. If you are new to sports betting, you can find the odd promotion provided you reside in an eligible Australian state.
3. Do your research
In order to make a smart bet, it is important to do your research on the players or teams that you are considering backing. There is plenty of information and resources available for punters, including statistics, analysis, professional predictions, and other information about almost any sport event. Starting your research early about upcoming matches/races and staying informed about changes to line-ups, can help you make a smarter bet.
4. Determine how much to bet
Determining how much to bet can be tricky and you will learn to master this skill with experience. For new punters, however, a good conservative rule to follow is to never bet more than 5% of your bankroll. It all depends how large the sum of money you have invested in your account is, and how comfortable you are. Some experts advise that if you are fairly confident about a particular event, then you can bet up to 10% of your bankroll, and if you are less confident you can minimise your bet to around 1% or simply just walk away.
5. Know when to walk away from a bet
If you really aren’t feeling confident about a bet, the best decision can sometimes be to just walk away. One pitfall that some novice punters fall into is chasing bad bets in an attempt to make up for money lost. Placing a bet right after losing can cause to you make impulse decisions without properly considering the viability of the wager. The same can be said after you have won a bet. Many punters feel so excited after winning a bet that they immediately place another one. Placing irrational bets out of excitement is equally dangerous, since it is important to use clear judgement in order to make smart bets. Creating a schedule and sticking to limits is a great way to eliminate impulse betting.
6. Know the laws and regulations in your area.
Each Australian state and territory has different rules and regulations for online betting, and laws for how the bookies are allowed to advertise their bonus offers and services to you. If you’ve watched any sports matches on TV the last few years you would have noticed sports betting companies are heavily promoting their business. However the methods they use change frequently, usually in response to government rule changes; aimed at protecting consumers. Navigating these rule changes and staying up to date with legislation is important, Victorian residents, you can view our guide here to betting laws in your state. Not only Victoria, but no matter where you live in Australia, our full list of agencies will give you an idea of the offers available to you, whatever state you live in.
We hope this list can help rookies take advantage of and make the most out of the fun hobby of sports betting. Maybe you’re already a semi-pro at this, if so, do you have any advice to share with our readers?