Real Money Sports betting
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If you want to get started betting on sports for real money there are a lot of options available to you online. Real money sports betting is incredibly popular and it’s something that if is done correctly doesn’t have to be considered gambling. While in sports there are always elements that are out of your control, as long as you do the research, make the right decisions and you have a solid plan for bankroll management in place, chances are that you will do just fine and you can even make a living from it.
If you follow any kind of sports and you know a bit at least about some of the teams involved, you have something to build on. Before starting to make bets you should learn as much as possible about the teams involved, their past, their players and how they’ve been playing lately and so on. Taking into account the facts you have and the information you get from experts that offer picks tips, you can start placing bets. Stick to the sports you know though. You will find that there are a lot of options available when it comes to sports, but if you don’t know what you’re doing you’re just gambling with your money.
Popular Sports among Gamblers
When it comes to sports you can bet on for real money, there is a huge variety available to you. The popular options are the sports which the majority loves to watch. That means football, soccer, tennis, basketball, baseball, boxing and others that are similarly popular. They are not the only sports though. You can just as easily bet on cricket, on water polo, darts or golf. You don’t have to focus on a popular sport to bet on if your interests are a bit more eclectic. Chances are that you can bet on the sports you like as well.
Sports Betting Money Management
Going into sports betting with real money when you’re not clear on what you’re doing can be very dangerous for your bankroll. Because of the unpredictability that is a major factor in any sports event, you should get a good bankroll management procedure in place before you get started putting serious money in it, not to mention doing a lot of research and studying the teams that you’re betting on. Becoming a specialist in a sport from a certain country should be something that you pursue, in order to give yourself the best chance of winning. Your best chance to make money by betting on sports is not by placing bets on whatever looks good to you. Instead, you should be focusing your efforts and becoming a specialist in a narrow section of the sports world.
If you’re serious about making money from sports betting, make sure you manage your bankroll properly. Forget about putting all your money on a single bet in order to make it big. You should never risk more than a set percentage of your bankroll when you’re betting on sports. There are a few ways that you can do this and we’ll cover them below.
Kelly Criterion – this is a betting strategy which is employed by a lot of people that do sports betting. The amount that is placed on the bet depends on odds and on the bet’s edge. This method uses a certain percentage of the bankroll, meaning that going bankrupt is quite hard if you’re careful to always use it. It’s considered an aggressive method which might make your bankroll vary considerably.
An alternative that is based on the Kelly Criterion is the method where you use the same criteria, but you make an even smaller bet than the original method requires. You make less money, but the bankroll doesn’t vary as much.
Fixed Percentage Method – with this method, you don’t have to make too many calculations to decide how much money to put in. You decide on a percentage of your bankroll and you always bet that amount. It’s usually between 2% and 5% of the bankroll, but there are no set rules. For a beginner it’s easier to follow since the edge doesn’t have to be calculated each time.
Whatever bankroll management you decide to use, what is really important is to keep at it and not to stray from it. Most people go bankrupt because they don’t respect a bankroll management method in the long run.
Sports betting options
While most players start out with simple single or multiple bets, many of them do try their hand at bigger and more complex bets if they keep at it for long enough. The most basic information you need in order to get started with sports betting is to know what kind of options you have.
The single bet takes place when you select a single event to bet on and you make a single selection. Whether you were betting on a win, a draw or another option, your selection needs to be successful in order to win the bet.
With multiple bets you make at least two selections from different events and in order to win your predictions have to be accurate in all selections. Depending on how many selections there are in the multiple bet, the name is a double bet (two selections), a treble (three), a four-fold, five fold, six fold and it goes on like this as the number of selections increases.
The advantage of a multiple bet is that the odds are calculated by taking the individual selections and multiplying their odds. A double bet with odds for the two selections of 1.50 and 1.20 would result in odds of 1.80. While the amount you would win if you were correct in all your picks would go up quite a bit, the chances of being able to predict accurately in multiple sports events can be low.
Full Cover Bets (System Bets)
An alternative to the multiple bet is the full cover bet, which gives you a chance to win even if not all your selections are correct. You start out by picking a minimum of three picks, going up to eight. Next, you decide what type of bet you want. If you choose a 2/4 bet, it means that you’ve chosen four picks and that at least two of them need to be correct in order to win.
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Just how much you’re going to win will depend on the picks that you predicted accurately and on their odds. Only the winning picks are taken into consideration in this case, so if the first match you predicted correctly had odds of 1.60 and the second one had odds of 2.50, you will have total odds of 4.00 for that combination.
Since you’ve made multiple selections, a bet is created for each combination of two picks. The four picks from a 2/4 system bet would combine with each other and create 6 different bets (pick 1 with 2,3 and 4; pick 2 with 3 and 4; pick 3 with 4). You make a small bet on each of the 6 variants of the system bet (for example $1 for each one, for a total of $6). If you were correct in all four picks, you win all 6 bets. If you predict only two or three picks correctly, only some of those 6 bets will be won.
A full cover bet doesn’t necessarily have to involve multiple double bets. It can be a combination of double, treble and other types of bets. A single selection might be all that’s needed for the player to get some of his money back, though the more correct selections he has the more money he makes. Keep in mind that each bet needs its own payment, so for example a Lucky 15 requires that you pay for all 15 bets that are made.
Trixie – this type of bet combines three different selections, with a total of 4 bets on them. A Trixie bet will include one treble bet and three double bets. In order to see a return, at least two of the three selections must be successful.
Patent – with the Patent bet, there are three selections made from different events, with seven bets made on them. Out of the seven bets, one is a treble, three are doubles and three are singles. In order to get a return, at least one of the three selections has to be correct.
Yankee – with this bet you make four selections in various events and a total of eleven bets are placed on them. Among them there is a fourfold accumulator, four trebles and six double bets. In order to get a return the player needs at least two selections to be correct.
Lucky 15 – with this type of bet there are four selections to be made, with fifteen bets made on them. The fifteen bets include one fourfold accumulator, four treble bets, six doubles and four single bets. To get a return at least one selection has to be correct.
Canadian (aka Super Yankee) – a total of five selections are made here, with twenty six bets total, out of which one is a five-fold bet, five are four fold bets, ten are treble bets and ten are double bets. The player needs to make at least two selections accurately in order to get a return.
Lucky 31 – allows the player to make five selections from various events and to place thirty one bets on them. Lucky 31 include one five-fold accumulator bet, five four-fold accumulator bets, ten trebles, ten doubles and five single bets. At least one correct selection is required for a minimum return.
Heinz – this type of bet requires that the player makes six different selections, with a total of 57 bets. With this type of bet you get one six-fold accumulator, six five-fold accumulator bets, fifteen four-fold bets, twenty treble bets and fifteen double bets. At least two selections have to be accurate in order to see a return.
Lucky 63 – as the name suggests, there are a total of 63 bets here, using six selections from various events. Among the bets there are six singles, fifteen doubles, twenty treble bets, fifteen four-fold bets, six five-fold bets and one six-fold bet. In order to see some sort of return at least one pick needs to be correct.
Super Heinz – using a total of 7 selections and 120 bets, this huge bet includes one seven-fold accumulator, seven six-fold accumulators, twenty-one five-fold bets, thirty-five four-fold bets, thirty-five treble bets and twenty one doubles. The player has to guess at least two of the selections accurately.
Goliath – a bet of this type is as big as its name suggests. It requires the player to make 8 selections, with a total of 247 bets on them. In a Goliath full cover bet you get one eight-fold bet, eight bets that are seven-fold, twenty-eight which are six-fold, fifty-six which are five-fold, seventy that are four-fold bets, fifty-six which are treble bets and twenty eight double bets. At least two selections have to be successful.
Creating a Real Money Betting Account & Making a Deposit
Creating an account in order to get started with real money sports betting is easy and fast. Once you’ve created your account you can make your first deposit and start making a few bets. The bigger websites offer you various options to deposit funds, some of them working with dozens of other companies which act as intermediaries.
You can use your credit card as you would to pay for something everywhere else online, but you can also use websites like PayPal, Neteller, Click2Pay, Skrill which act as electronic wallets. Other options include wire transfers directly from your bank account, or using a prepaid debit card.