People across the world illegally wager billions of dollars on sports each year with offshore betting websites or illegal bookmakers. However, with countries making sports betting legal every day, we’re now seeing a flood of beginners to the game. Online sports betting can be loads of fun, but it can also come with a range of risks, and so it’s important to take care.
Protect your money with intelligent, time-tested approaches recommended by experts who can help you to enjoy this new hobby without issues. Read on for 7 top tips for staying safe while sports betting online in 2022.
Sports betting is a big money-making machine for casinos, sportsbooks, and betting companies of all kinds. These businesses are here to win. They invest unbelievable amounts of time as well as money to collect as much data as possible to develop strategies that make sure they always win. So, it’s important to do your research.
Know everything about the teams and the game. Use social media to get an idea of the sport and read up on all the analysis. Ensure that you understand your track record, including win percentage, units, and ROI. Although this may seem tedious, this research will ultimately protect you and your money.
Just like every money-making scenario, there are plenty of con artists in the betting industry waiting to pounce on newbies. In the world of sports betting, these people are known as “scamdicappers,” and they are rampant on Instagram. Work smart and stay away from them by looking for accounts that have no verified win or loss records but are obsessed with showing off their lifestyle and promote “guaranteed wins.” Zero user comments or no reviews are also red flags.
Use Rewards & Bonuses
Many online betting sites work hard to gain more new customers and as part of this they often offer special bonuses for signing up. Tap into these to increase your bets while reducing your losses. Try to enroll in loyalty programs because these sites regularly reward their customers with offers.
Don’t Always Choose Favourites
Obviously, everyone has favourite teams, but only betting on these can end up being disastrous. Betting only cares about the numbers. Have this in your mind to make sure you bet with your brains and not just your heart. Of course, you can bet your favourites every once in a while, but you have to be smart.
It’s not a problem to play your favourites as a fan. This is the very reason for watching sports! But if you allow yourself to be blinded by fandom, you will most likely live to regret it.
As a matter of fact, most of the world’s top sports bettors have completely refused to back their own team while betting. Instead, they continue to cheer on like other fans while putting their money elsewhere.
Have a Limit
Most players end up losing more than half the time, and significantly more if you have bad luck. The sad truth of sports betting is that this industry was built on losing players.
For this reason, it’s important to be responsible with your money and your bankroll management. Always set a limit on how much you will bet, and make sure that this is not more than you can afford to lose. Most importantly, never go above your limit.
Stop While You Can
This point is pretty self-explanatory. The experts agree that chasing your losses to take a chance to recover can be a sure-fire way of getting yourself into serious trouble. It’s essential to see every bet as different from the last one.
Know When to Quit
Although it might seem like common sense, it’s very easy to get carried away in the moment. That’s why its so important to understand your limits and never exceed them. Some reputable sites such as 888sport review can even assist you in doing so, allowing you to set options and spending limits that can be easily decreased.
These sites may temporarily disable your account once you reach your preset limit, and/or they could limit the time you can spend on the site. It is also very difficult to increase these limits after they have been set. Every good gambler knows that you must quit while you’re ahead.
Betting on sports has long been a popular global pastime. This industry has exploded of late thanks to legalization in many countries.
With this growth, more and more beginners are betting than ever before. It’s not hard to see why many of these beginners have faced losses, and in some cases very significant amounts. With the help of the seven tips mentioned above, it’s possible to avoid this downhill slope which could drain your bank account.
It’s important to bet judiciously, bet wisely, and bet intelligently. And above all else, have fun! After all, sports betting should be entertainment rather than a way to make money.