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Betting.net / News / Five Key Betting Principles You Need to Remember

Five Key Betting Principles You Need to Remember

Publish Date: November 10, 2022
Fact checked by: Jesse M Cox

Sports betting is great fun, but it’s not always easy. It doesn’t matter whether you’re betting on a massive NBA game or a minor football match, as the chances are that you’re going to lose sooner or later. 

Five Key Betting Principles You Need to Remember

So we’ve put together the following five essentials of sports betting for you to follow. While these won’t necessarily help you win every bet you place, they should help you avoid making too many rookie errors!

1. Set a budget

It’s essential that you set a budget before you start betting and that you stick to it. Doing so means that you’ll be prevented from accidentally spending more money than you meant to. It also means that you’ll be able to handle the occasional loss and still have some funds left over.

Most online sportsbooks have a variety of responsible gambling tools that allow you to set limits on things like your deposits, losses and time spent on the site, so be sure to use these tools.

2. Know your sportsbook

You’ll have plenty of choice in terms of the old and new online sportsbooks that you choose to play at. The key thing to remember is that they are all in the business of staying in business!

This means that everything from the odds on offer to the promo deals will be weighted in a way to ensure that the sportsbook doesn’t lose money. Such an arrangement is perfectly fair, and if it wasn’t like this, then the sportsbooks would go bust and you’d have nowhere to enjoy sports betting at.

3. Be realistic

You’ll know that online sports betting is inherently risky. After all, it’s the prospect of losing your bets that keeps things interesting. This means that you should always be aware of the fact that even the most surefire bet has a chance of losing.

As a result, it’s smart to go into every game with the knowledge that losing is a real possibility and this should affect how much you bet and what your expectations are. If in doubt, then only bet on the favorites. After all, they have short odds for a reason which means that you have a much better chance of winning your bets.

4. Know when to walk away

One of the worst things that you can do when it comes to sports betting is to chase after your losses. Doing so could be disastrous for your finances, and this is why we’d always recommend that you set a plan of what you’re betting on and how much you are betting on it.

And finally…

5. Keep it fun

You should only ever treat sports betting as a form of entertainment, rather than being a means of making money. This means that you can emotionally handle that occasional loss rather than it causing you big problems. As long as you treat betting on sport like you would playing sport, you’ll be able to enjoy it no matter what happens in the big game.

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