Sports Betting For Dummies Cheat Sheet
Sports betting can be a very addictive and interesting hobby. If you are doing it for fun, well and good, but if you are doing it to make money, you need to know that there are many people that have ended up losing money. It shouldn’t be a surprise because that’s actually how bookmakers manage to stay in business. Online betting and gambling uses the same approach to stay in business — you lose money, they make money. Are you interested in knowing more about how bookmakers work? Then you need to develop a strategy and do sufficient research. This can propel you from being a money-losing player to an experienced gambler who has a very good chance of winning big.
Placing Your First Sports Bet
For those that have been to sporting events before, this shouldn’t be a complicated process. And if you are lucky enough to be in a country or state that has legalized gambling, then you can engage in physical gambling. You can simply walk into any casino and place your bet. If your country or state hasn’t legalized sports betting, then you will need to open an account with an online bookmaker.
Opening an online betting account is useful because there are states that haven’t legalized gambling but allow online betting sites. If you are in the US, you will not be able to place online bets unless you are physically present in states that the bookmaker operates. In situations where a local bookmaker doesn’t have an online betting platform, or the state hasn’t legalized sports betting, there are many other international betting sites you can choose from. Actually, there exist many international betting platforms that accept American gamblers.
Your Online Betting Account
A betting account is the linkage between you and the bookmaker. It is the channel you use to place bets and withdraw winnings. To create one, you need to sign up, deposit money and start placing bets. If you win on bets, there is an option to cash out. The process of creating an online betting account is simple, after you have provided your credentials, your account is verified and activated. Next, you need to fund the account so that you can place bets. Wondering how you will deposit funds? Well, there exist many options for depositing money, but the most common and reliable one is using credit cards. If you opt to use this platform, you need to know that there is an extra charge your bank charges to complete the transaction. The charge might be higher if you are depositing money to an international bookmaker. Even thou bookmakers will pass the charges to you, they make up for it by giving you an equivalent bonus credit.
As a way of luring customers to join and deposit money in their accounts, online betting sites offer a wide range of lucrative deals like welcome bonuses. These kind of bonuses are given when you sign up and make your first deposit. The most common type of bonuses are those that act as additional credit to you account. Besides, they can also give you access to reduced vig bets (vig is the fee the bookmaker charges on every bet). Depending on how much you play and the at which you lose, some bookmakers will offer you cashback promotions.
When you are given a bonus cash, it is not available for withdrawal. Bonus money is only available for betting, with some betting sites allowing gamblers to withdraw winnings made from them. One mistake players make with bonuses is that they don’t take them seriously and end up experimenting with them. Whenever you are given a bonus, use it wisely, you could win big from it!