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Online Sports Betting For Novices
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Online Sports Betting For Novices
July 22nd, 2012 by admin
There are several commonly made mistakes that novice online sports bettors should be aware of. When I started out betting on the MLB several years ago I made some really dumb wagers. I would basically bet on the outcome with the largest payout. It was comparable to betting on the three slowest horses at the track and sometimes even making a trifecta wager with those horses. I’ve found that betting on low probability / high payout outcomes does have a place but it should be restricted to small side wagers unless you really have a valid reason for thinking that they will win. Another mistake many beginners make is signing up at the first online sports book they find.
Finding a great sports book is pretty easy but even it takes an hour of searching you will be happy that you did. Many online sports bettors even spread their action around by having accounts at several solid bookmakers. This is a really good tactic for a couple of reasons:
- Never put your eggs in one basket – Online sports books can experience banking problems that could prevent them from making timely payouts. They can even go out of business. Minimize the potential inconvenience and loss by spreading your bankroll out at a few bookmakers.
- Bet selection – The lines and odds are different from book to book. You can maximize your chances of winning by placing your wager at the book with the best line for that particular outcome. The difference is usually small for everyday betting but this really adds up.
Getting three bonuses instead of one is not something to ignore either. Another problem new online sport bettors face is not understanding how online books work.
When you make a deposit at an online sports book you obviously hope to cash out your winnings. Most bookmakers have a security policy that requires them to confirm that all account holders are not using fraudulent means to deposit and that they are adults. This “ID check” is pretty standard but many novice sports bettors think that the book is trying to cheat them. I certainly did years ago.
In most cases you simply need to send them a copy of your ID and perhaps a copy of the debit or credit card you used to deposit. I generally just use my digital camera to snap a couple of pictures and attach them to an email.
The last mistake novices make concerns bonuses. Online sports books give new players bonus but there are rules. Many people try to cashout their bonus before they have wagered enough to clear it. These sports books are not simply handing out free money all day long. They attach wagering requirements to these bonuses and you must satisfy them before withdrawing any of the money. You should always read the T&C for the bonus so that you completely understand what you must do before you request a payout. This can save you a lot of headache later on.
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