Sports betting has exploded in popularity after becoming legal. In the past three years, Americans have bet over $65 million on sports. However, can you make good money off of it?

When you play big, you have the potential to win a jackpot. However, you risk losing everything in the process.

As a beginner, you must focus on minimizing your risks. It means learning about the best sports betting tips around. Read on and let our guide help you develop better habits now:

1. Be Realistic

You are more likely to lose money than win in sports bets. Only a small percentage of bettors can say they are profitable.

It does not mean giving up on betting at all. Instead, it serves as a warning to avoid losing your life savings in hopes of getting rich with sports betting. After all, the income is not enough to replace your day job.

Set realistic expectations. You can be profitable later, but not after you have enough knowledge and experience.

2. Learn the Basics

As we said above, you are more likely to lose than win. You can only increase your likelihood of winning when you know what you are doing. Make sure to learn as much as you can before parting with your money.

3. Use Proper Bankroll Management

Bankroll management is one of the first things to learn as a beginner. Some other bettors learned the hard way after they made expensive mistakes. If you want to be wise, use it as soon as you start betting.

A bankroll management plan helps determine how much to bet and how to extend your money as far as possible. Without an out, you are betting in the dark, putting you at risk of losing all your money.

4. Set a Budget

Set a budget before trying some betting strategies. Decide the amount of disposable income you can dedicate to betting. Once set, stick to it even if you lose everything.

It’s up to you how you want to set up your budget. You can do daily, monthly, annually, or anything your heart desires.

Never blow off all your money on gambling. The budget should still be affordable to keep sports betting fun and sustainable.

5. Keep Records of Your Bets

Beginners often neglect this, but it is a good idea to keep records. It is a vital step in bankroll management and sticking to your budget. 

Having a record helps you keep track of your spending, wins, and losses. The data allows you to analyze your strategy performance. As a result, you have an idea of whether you are making a profit.

6. Drop the Bias

When you are a beginner, stick to your favorite sports. You are likely to make better betting decisions when you are familiar with the rules and intricacies of the games. Check out NFL betting if you like football.

However, you might find it hard to bet against your favorite teams and players. It is natural to have a bias, but never allow it to cloud your judgment when making bets.

No one will fault you for betting for fun, but not when you want to make money. If you cannot take bias out of the equation, avoid any games where you might have prejudice.

7. Use a Trusted Betting Site

You need not fly to Las Vegas to place your bets. There are hundreds of online football betting sites out there.

The abundance of choices makes it hard to choose one. With research, you can find the most trustworthy options online. Otherwise, you risk losing your money to scams.

The best sports betting sites are secure, as well. They take data privacy seriously, so you know both your money and information are safe.

8. Stay Away from Tout Services

Paying for what might seem like solid advice can be irresistible, but are you sure you are not falling for scams? Many who claim to be experts are bogus, only preying on beginners and hopeless bettors looking to turn their fortune around. 

Instead of relying on paid tips and picks, take the time to learn how to bet on your own. You might lose a lot at the start, but it is an invaluable part of learning.

Save yourself from potential fraud and put the money toward your learning instead. As you master betting, you can consider getting legit services. It becomes a vital step when you are betting on an unfamiliar sport.

9. Start Slow

Beginners have too much energy, which might be why they often go hard on betting. Your excitement is understandable, but you have to learn how to pace yourself.

Never rush into betting since it only ends in shattered dreams. Take your time and learn everything you can before betting.

Once you are ready to bet, never spend everything at once. Try out a few strategies and gain knowledge and experience slowly. Your future self will thank you later.

10. Keep Your Feet on the Ground

Are you familiar with beginner’s luck? You might get a winning streak when you start but never let it get to your head. Avoid becoming overconfident enough to place a bigger bet next time.

Our tip goes both ways – when you encounter a losing streak, avoid becoming too disheartened. It happens even to the best bettors around. Take a breather or try a new strategy since the more important thing is you try again.

Regardless, ensure your bets are within your budget. Follow the tips above and remind yourself whenever you feel the urge to bet it all.

Learn the Best Sports Betting Tips

Here’s another tip for you—get out there and get some experience. Once you read all the best sports betting tips and learn everything you can, your next step is to apply them. Find a trusted betting site and exercise everything you learned.

Did you find this guide helpful? For more tips, check out our other articles today.