A Beginner's Guide to Betting
Raja Danish
Hrishita Batabyal
Today, sports betting is gaining rabid popularity. Therefore, new players are constantly joining them in India. But before starting active betting, a novice player should first of all understand the basic concepts, and already then be interested in “money” issues. Yes, it is possible to win in sports betting, but for this it is important to have the right goals and the necessary knowledge.
How Do Sports Betting Work?
Betting on sports is an intellectual wager between a player and a bookmaker: the player makes his prediction on a sporting event and bets money that this prediction will turn out to be correct. If the bet is correct, he returns the money with a profit, if the bet is wrong, he loses it.
The outcome that matches your prediction is called the market. You can bet on the winning team, goals, scorers, goal difference and so on. For example, in a match between England and France, you think that France will win and bet on the winner’s market, or at the same time you think that England will lose with a difference of 1 goal and then bet on the handicap market.
Key Information for Beginners
At the very beginning, players are constantly wondering “how to bet on sports“. Therefore, you must understand a few things about betting before placing a bet. It is best to learn the basic procedures and principles that you should follow to increase your chances of winning. Understanding each of these will help you make the right decisions and increase your chances of a winning bet.
Understanding the Odds
One of the most important parts of any sports bet is the odds. The bookmaker’s betting odds are a number that reflects the bookmaker’s opinion of the probability of an event. The odds are used to calculate the winnings of a bet if it plays out
As explained earlier, betting odds represent the price of an event if you win. In the world of sports betting, events that have a higher probability of occurrence have lower odds. For example, if France plays Germany and the home team is likely to win, the odds are likely to be as follows:
- France to win at odds of 1.91;
- Germany will win at odds of 2.68.
All odds guides state that in today’s sports betting world, odds are presented in three formats, namely: fractional odds (British), decimal odds (European) and moneyline odds (American). Many bookmakers may switch from one format to another from time to time.
How Bookmakers Work?
Bookmakers are the major players in the betting world. A bookmaker is a gambling establishment that accepts sports betting for real money. Today, most of them operate only in online mode and allow players to start betting at any time.
The bookmaker company is engaged in assessing the probability of the outcome of a particular event and depending on this, offers its customers a coefficient. Bookmakers also look for games around the world to add to the betting company. This offers players a wide range of sporting events to bet on.
Types of Wagers
The world of betting has evolved for a reason, so today bookmakers offer a huge range of different bet types, the most popular of which are:
- Outcome bet – a classic bet on the winner or loser of a match and the final score;
- Double odds – this allows you to choose two outcomes to reduce your risk;
- Who win – bet on the exact score of the match;
- Handicap – a bet where a certain number is added or subtracted to the score of the selected team. That is, it must win with a certain score difference or lose with a goal difference less than the set number;
- Time/match betting – the bettor tries to simultaneously predict who will win at the end of the first half/game/period and who will win the match as a whole.
Betting Terminology
In any business, terminology is important, which reveals the essence of the betting world including. New players need to learn it before betting on every match to be able to make informed decisions and choose the most accurate market depending on the prediction made.
Most bookmakers who use complex terms usually explain and decipher them to make it easier for new players to understand the game. For example, popular terms include BTTS (both teams will score), ante-post, betting exchange, places and ponies. A tip for beginners – don’t bet on terminology you don’t understand, learn it first to win money.
How Much To Bet?
It is important to realise that in sports betting there are no clear guidelines on how much to bet. The amount of bet you choose depends on the amount you would like to win and your financial capacity. It is important to remember that you should bet on amounts that you are willing to lose without a big loss to your life. You should also check your expected profit and determine if it is worth the risk. For beginners, it is best to start with small bets and then slowly increase them.
How To Make a Bet on Sport Online?
The most responsible part of betting is the process of betting. To place a bet on a sport a player must be registered with the bookmaker on the site and have money on his game account (you can put it there via deposit).
If all these conditions are met, then you only need to make a couple of steps and your bet will be ready:
- Go to the bookmaker’s website or app and log in to your account.
- Select the sport on which you will bet.
- Identify the specific match, betting market and bet type.
- Enter the amount to bet.
- Confirm your bet and wait until the end of the match to find out the result.
Find Betting Guides for Different Sports
In the world of sports betting, each sport has its peculiarities and rules and this is also reflected in the betting on it. You must learn about each game you want to bet on and its specific betting procedure. This will ensure that you don’t make any silly mistakes when placing your bet.
This is why, before actively placing a bet, it is best to find Betting Guides on the sport you are interested in and study it carefully. Today you will find many useful guides that will help you get started in betting to win sports games and not lose money.
Tips and Strategies for Novice Sports Bettors
Strategies in betting are a set of principles that bettors have formulated based on their experience. Good strategies do not guarantee success, but they do avoid the bumps that others have already made. Choosing a strategy means that you will follow the rules described in the strategy in every game for a long time. This requires discipline and trust in the pattern that the betting strategy describes.
Choose Only Reputable Bookmakers
Today, there are more than 100 betting sites in India that accept sports betting. However, not all of them are equal and of high quality. There are both reliable bookmakers with experience and positive reviews on the market, and scammers who skillfully hide their shortcomings.
Choose legitimate betting sites that encourage responsible gambling, Hindi language and operate in India so that it is easy to make transactions and confirm your account. Also, check if the bookmaker has positive reviews from customers.
Look for the Best Odds
A large number of bookmakers offer different odds for matches. As mentioned earlier, odds determine the amount of money you are likely to win by betting on a particular game.
The strategy for finding betting odds is to always look for markets that provide the highest odds for your selection. You can also choose a betting office that has a betting calculator to help you determine your bet and the odds of winning.
Place Your Bets on Sports You Know Well
In the huge selection of sporting events to bet on, it is important not to get confused and to remember to choose your favourite and familiar sports. The best option is, if you are a sports fan, to bet on your favourite sports that you are familiar with. This will help you make the right analyses, increasing the chances that you will win money with your bet.
Manage Your Bankroll
Your bankroll is the amount of money you have set aside for place bets. You should always bet on the amount you are willing to lose so that it does not affect your financial situation in the long run.
The strategy for managing your bankroll is that once you have set the maximum amount you want to bet over a certain period, spread it out between different bets to reduce your risk and increase your chances of winning.
Know When To Stop
Betting on sports is a gambling pastime that can be very addictive. It is important to be careful and be able to stop in time. The moment when it is better to pause each player determines himself. So, it may be a period of failure, but it is better to rest so as not to lose everything. On the other hand, if you achieved a big win, it is useful to take a break to prepare for the next bet.
Impact of Injury & Weather
Sporting events are real-life games. Therefore, physical phenomena such as injuries to players and weather conditions during a match (e.g. in an outdoor stadium) also influence the results of a match and therefore betting results.
We advise you to always study the context of the game before betting: the state of the team, possible injuries to players, where and under what conditions the match is played and so on. It is especially important to analyse this before placing a big bet.
How To Find the Best Online Bookmakers?
Players can only place bets with the help of specialised bookmakers. There are so many of them today that it is important to understand how to Find the Best Online Bookmakers. To do this, you need to analyse the company and relate it to certain categories when making your choice.
Here are the main criteria for evaluating the best companies:
- Reliability – To find out if a bookmaker is reliable, look at how long they have been around. Secondly, find out how much winnings the bookmaker has paid out to winning bettors.
- Legality – Any bookmaker without a gambling licence is a fraudulent site. Online bookmakers must have a licence from the gambling authority to operate. Some well-known gambling authorities are Malta Gambling Authority, Curaçao Gambling Authority, United Kingdom Gambling Commission and others.
- Betting offer – check if the company offers bets on your favourite sports so that you can get the most out of the game.
- Maximum and minimum betting limits – different firms set different betting limits, so for example somewhere the minimum bet may be Rs 100 while in another firm it may be Rs 50. Research this to plan your bets with a howling bankroll.
- Payment methods and payment convenience – The best betting sites today provide punters with a variety of payment methods. It is also important that the withdrawal method and processing time is fast and you don’t have to wait for a long time. Today, the top online sports betting companies offer players e-wallets, credit cards, debit cards, cryptocurrencies and bank transfers and other payment methods.
- Promotions and bonuses for players are favourable offers that bookmakers use to attract new players. Bonuses can be different and help new players to get into the game faster and win more on bets. So it can be a welcome bonus, free bets, cashback and others.
FAQs
1️⃣ Is sports betting legal in India?
Yes, sports betting is legal in India for all residents over the age of 18 when using special online platforms. It is important to bet with a bookmaker that has a sports betting licence and then everything will be considered safe and legal.
2️⃣ How to make predictions and win on bets?
To win on bets and make predictions you need to analyse the games of the teams you are betting on and also take into account other elements of the game. You can also read game reviews and predictions to increase your chances of winning a bet.
3️⃣ How do I bet on sports online?
To bet on sports online you need to find an online bookmaker and register on their website. Once you do this, you can place bets and receive winnings.
4️⃣ What is the best sport to bet on?
There is no clear answer to the question of which sport is best to bet on. It is very personal and depends on the player’s preferences and knowledge. The best sport to bet on is the one you know best and understand best. Find high odds and get big winnings based on your experience.
5️⃣ What is the easiest sport to bet on?
There are no specific games that are easy to bet on. It all depends on your ability to make good analyses and predictions. However, for beginners it is best to start with popular sports like football or basketball, this will help to get an easier start in betting.
6️⃣ How do I calculate betting odds?
Bookmakers today calculate and determine their odds for betting on various matches. Knowing them, you can calculate your potential winnings with these odds by simply multiplying your bet by the odds.
7️⃣ What are parlay bets?
A parlay is a combined bet that consists of a minimum of two single bets in different matches. These singles are called selections or outcomes. If at least one loses, the whole express will collapse. If at least one wins and there is a win or a return on the other outcomes, the express will win.
Raja’s Conclusion
Betting on sports is a popular entertainment and a way to earn money. They help you to relax, have fun and at the same time bring monetary profit to the player. However, there are a few risks that you should be aware of before you start betting so that you don’t lose your money.
Now that you have learnt what sports betting is, we recommend that you take a closer look at exactly how each option is implemented at your chosen bookmaker and the specifics of betting on specific sports. Also, memorise the terminology and don’t forget to do analyses for each of your bets!