Sports Betting for Dummies: The Basic Wagering Ethics You Should Follow

Bettors wagers proposition bets Super Bowl
Bettors line up to place wagers for the Super Bowl. Ethan Miller/Getty Images/AFP.

For the most part, gambling on sports events is utilized for its entertainment value. However, avid bettors can evolve their risk-taking form of fun into a profitable venture when following a set of basic guidelines.

Since sports betting received its legal blessing from the Supreme Court in 2018, projections have estimated that 40% of the global gambling market accounts for sports wagers.

With that said, many sports bettors want to ditch their casual attitude but don’t know where to start. Look no further and attempt to turn your losing streak of “fun” into long-term betting profits with our sports wagering guide for beginners.

How to Choose a Sportsbook

Starting it off with the most straightforward task of all, find yourself an online sportsbook that can provide you with the best available service.

TheRX has the most trustworthy bookmakers listed, so browse our website to deepen your knowledge if you’re struggling to decide.

How to Choose a Sport to Bet On

We’ve all been there, the NBA, NFL, and MLB are all on television tonight, and you want a piece of the action. Despite the fun around wagering on multiple sports, it’s essential to focus on what you know best.

Choose your favorite sport and continue evolving your overall knowledge in this one field; you can be a jack of all trades or a master of one. We suggest you ditch the extra work and hone your statistical, analytic, and betting knowledge towards that one sport you love.

How to Bet on Your Own Team

It doesn’t matter how long you’ve supported the Los Angeles Lakers, if you allow your emotions to interfere with a primary wagering strategy, you’ll wind up with a losing record.

In fact, put your feelings aside, and you could find profits from your beloved team as you should know the games where they’re likely to lose.

How to Manage Your Sports Betting Bankroll

Perhaps the essential starting point for beginners of professional handicapping is to maintain a consistent wager amount whilst sticking to a strict bankroll limit.

Bankroll management will allow bettors to remain within limits they can afford whilst learning a disciplined attitude towards sports betting.

A good starting point is to set aside the amount of money you can afford to lose and then stake between 1-5% of your bankroll on every single bet.

How to Find Value When Sports Betting

So, if you want to define value in sports betting, it’s pretty simple. Find the best available odds to avoid losing out on long-term profits.

Remember, at the beginning of this article, we discussed choosing you’re playing ground. Well, it’s always worth opening multiple sportsbook accounts and regularly comparing the expected returns from each operator. If you allow yourself to wager on the worst available odds for a significant number of months/years, the potential loss for earnings can be more detrimental than one may think.

Available odds can often skew the opinion of sports bettors, so be sure to do your research and stick with your background work instead of picking the favorites. Favorites lose, and betting underdogs at the right moments can result in lucrative profits even with a losing record.