From the California Business Journal Newswires.
Sports betting has been a thing since the dawn of sports. Perhaps it all started on the Roman times when gladiators entertained crowds. Maybe people used to bet even before them. A thing is certain – there is an art behind betting. Luck is part of the equation, but more often than not, you can pretty much predict how things will go. So, if you don’t want to lose money and don’t want to give up on betting either, here’s our betting guide: don’t just rely on luck to turn the odds in your favour.
Learn how to place a wager
The first step to successful betting is learning the basics, such as placing a wager which can be easy to select as bookmaker offers can make some more desirable. Let’s take horse racing, for example. There are two types of wagers you can place, both of which can be further classified in various sub-categories.
You have straight wagers, where you bet on only one horse and exotic wagers that allow you to bet on multiple horses in a bet. Obviously, the latter allows you to increase your chances of success, but it will cost you more upfront.
Learn about favourites
Continuing our example on horse racing, learn about the horses in the race – this applies to any other sport, from soccer to cycling and anything in-between. Find what are the strengths and weaknesses of your favourite, then learn a bit about the opponents.
At this stage, you should either trust the opinion of professional brokers or really do your homework to calculate the odds.
Consider the odds
If you want to calculate your own odds, know that each horse will have the winning odds next to its name in the programme. The one with the lowest odds is the one most likely to win. When betting, you can decide between win, place, or show.
- Win: you place your bet for the favourite to win, which gives you a chance of 33 per cent to win the bet.
- Place: your horse will come first or second – the profit is lower, but your chances of success increase to 53 per cent.
- Show: your horse will win either the first, second, or third place, with a chance of success of 67 per cent.
Place the bet
Once you’ve decided which horse – or team or player – you want to bet on, make a list of the things you need to tell the teller. To make things easy, have the cheat sheet below with you:
–How much you want to bet
–Type of bet
Enjoy the race
Betting is now done, so all you have to do is sit back, relax, and watch the race unfold. Start with small bets and work your way up to larger amounts as you polish your betting technique. Keep it light and fun – unless you want to bet to become a profession, you shouldn’t risk large amounts nor take it to heart if the things go awry. And now that you know how to place a bet without relying on luck alone, it’s time for you to get some practice.