Sports betting has become a major part of sports culture, but it’s still a relatively new industry with a lot to learn. Whether you’re an experienced gambler or a novice, it’s important to keep some key points in mind before placing your first bet.
Money management: It’s vital to decide how much of your bankroll you’re willing, in the worst-case scenario, to lose before you start gambling. Once you know this number, it’s easy to make sensible decisions about your bet size and avoid making irrational wagers. Some experts recommend risking between 1 and 5 percent of your bankroll on each individual bet, depending on how confident you are in a play.
Bet types: A straight bet is a single wager on the outcome of a particular game or event. The odds on a straight bet reflect the probability that the chosen team will win. If the team you bet on wins by more than the sportsbook’s point spread, you’ll receive a payout. If the team you bet on loses by less than the sportsbook’s point spread, the bet is a push and you’ll keep your original stake.
In-play bets are made as a game progresses and the odds are constantly updated to reflect the sportsbook’s assessment of a team or player’s chances of winning. In-play betting requires concentration and quick reaction time, as well as an inherent understanding of the two teams or players participating in a game.