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Top tips for online betting

Online betting
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Written by Tim Barnes-Clay

Don’t let your gut feeling and emotions make the calls –follow this advice before placing your bets.

If you’re looking to make a buck while betting on sports online, then it always pays off to do your homework before you put your money down.

Instead, here are you the six tips on how to bet online and what to be cautious or aware about — then you’ll be ready to take on the world of sports betting. We recommend that you visit Genting to get the very best bonus and promo code so your deposit lasts a bit longer. You can also have a look at this great offer where you will find plenty of bonus codes to choose from.

Let’s get started with the best practice and some well-known tips so you can get to the more exciting parts. We’ve collected the essentials you should know about before you dive into the world of sports betting.

Know your own limits

It is always a good idea to set a daily, weekly or monthly budget for how much you are willing to bet. If you are going through a rough patch, it might be better to take a break rather than double down and put yourself in an even worse position. Save something for tomorrow or the next month.

Keep a record of your bets

It can be quite easy to lose track of time and space when you are on a roll. We recommend that you keep track of all of your bets and the outcome. Betting on yourself is always a great bet — make sure you know your own odds and limitations.

Always compare odds

It pays off to shop around a bit and sometimes you will find more favourable odds on another platform or on a different type of bet. This also keeps the betting platforms on their toes as they cannot rely on players always taking the action — the better the odds, the more players will place bets.

Avoid gambler’s fallacy

The gambler’s fallacy is the tendency for a gambler to see the odds more favourable than they actually are. If you have lost nine bets in a row, then the chance of the 10th bet to win is often seen as more likely despite the fact that from the outside this would seem crazy to any spectator.

Do the required research – don’t skip the line!

Dig into the numbers and the previous performances of the team or player and compare it with the current statistics. Having a gut feeling or favouring one team over another due to personal bias will not get you anywhere. Sometimes it can actually pay off to bet against your favourite team.

Don’t gamble or place bets whilst impaired

You wouldn’t drink and drive. You should not make important decisions when you are impaired either. The odds may seem like they are in your favour and you might seem bolder and more irrational than normally. Do not risk your bankroll — you’ll wake up with more than a hangover. Check here for what you need to know before visiting a casino for the first time.