Are you keen on venturing into the world of basketball betting and start making money? It’s easier than you might think, especially when you choose to do it online! Once you have figured out the best bookie to take your wagers, like 1Bet, the rest of the journey is a breeze. And we have combined some tips to help you get through this process with minimal hurdles. Let’s get to it!
How to Master Online Basketball Betting
If you look up online basketball betting, it’s easy to think of it as a maze. But it isn’t. Betting on basketball comes down to some fundamental principles that anyone can master. Once you have caught the hang of things, you can consider more complex strategies. But for a start, stick to the following tested approaches:
- Understand Basketball
Many people make the mistake of betting based on odds. But odds are not accurate measures of probability. First, they rely on public perception, which can be wrong. And secondly, they also factor in the bookie’s commission, thus skewing the numbers in their favor.
The best way to master basketball betting is to understand basketball. And here’s how you do it:
- Learn how basketball works by reading about it. While it might seem basic, learning basketball rules and approaches helps you feel more confident about your wagering skills.
- Watch basketball games. Put your theoretical knowledge to the test by watching a few games. You might learn things you would not have encountered when reading about the game.
Finally, you need to learn how to read statistics. While you do not need to analyze the games, knowing how to interpret statistics goes a long way in helping you figure out the favorites.
- Assess Teams
There are very many ways to assess teams before placing a wager. Some of the best approaches are as follows:
- Which team is home, and which one is away?
- Do the teams have a reason to win the game? Motivation is more evident when a big game is at hand.
- How have the teams performed in their previous encounters?
- Do the teams have any injuries?
- Has management changed in recent months or weeks?
These factors can result in the underdog becoming the favorite or vice versa. So, while you may want to focus on the odds, your best bet lies in uncovering the strengths of each team.
- Create a Budget
Placing wagers is like investing. You do not have a guarantee that you will get a good ROI or one at all! So, you should only wager what you can afford to lose. For some people, that’s $5,000; for others, it’s $50. There is no standard amount you should wager, despite what other people may tell you. The right amount is what you can afford.
And luckily, many bookies accept wagers as low as $10, so you don’t need to break the bank to place a wager. Even if it might feel tempting to sink $1,000 into what you think is a sure game, don’t do it if you can’t afford to lose the money. Create a sound budget and stick to it.
- Avoid Emotional Bets
The more you watch basketball, the easier it will be to pick one team as your favorite. Doing so is normal, and most basketball fans find themselves in the same spot. There’s nothing wrong with this unless it interferes with placing objective bets.
The best way to get past this hurdle is to question your bets. First, consider the strengths of each team and choose the one with the better chances. Then choose a wager amount that fits your budget.
Also, keep track of your bets to determine if you’re being subjective or objective. You may realize you’ve been letting your emotions take charge, which you can rectify when placing future wagers.