Top 20 Online Betting Tips For Beginners
Online betting has become an ever increasing industry with £14.3 billion spent in Great Britain alone in 2019. This is a huge amount of money being spent at online bookmakers and the industry is growing. There are endless markets on thousands of sports where you can bet at multiple bookmakers. However, As a beginner to betting there are some factors you should be looking out for. To get you started I have put together my top 20 online betting tips for beginners.
1. Set a Budget and keep to it.
Setting a budget for online betting is extremely important, you must be disciplined and only gamble the amount you put aside. Whether it is a weekly or monthly amount, don't feel like you have to bet all the time. Even if you win stick to your budget. All online betting sites now have the option to limit your spend or deposits, it's highly recommneded to do this when you first sign up.
2. Join a good bookmaker and licensed in the UK.
Creating an account at a reputable online bookmaker which licensed in the UK is very important. All the online bookmakers that are shown on this website are highly recommended.
3. Join more than one online bookmaker
Shopping around whilst betting is an important part of getting value for your money. Different online bookmakers will have different odds for various sports. Learn which bookies provide the best value and in turn the value you will get will increase.
4. Understand the betting terms and conditions
Online bookmakers have terms and conditions for when you bet with them, you need to ensure that you understand and follow these rules. You do not want to be in a position where a payout is refused or disputed. Also, understanding the rules to the markets yo uare betting on is important.
5. Understand the market you are betting on.
There are a huge amount of markets that you can bet on, some of these markets can sound very similar. For example, HT/FT is different to win both half's.
6. Don't chase losses.
Never ever chase loses, ensure you take time out and away from the online bookmaker. Always play responsibly and set limits before you bet.
7. Use the sign up betting bonus.
Online bookmakers can have betting bonuses when you sign up for a new account. Using a betting bonus will give you extra credits to bet with, remeber that these bonuses have terms and conditions and must be understood before you deposit money.
8. Use on-going online betting promotions.
As well as a sign-up betting bonus, most online bookmakers will offer on-going promotions for sporting events. The on-going betting offers can boost your betting balance or give you your money back on losing bets. However, if you only use their promotions they may limit your account as they are a business and do not like bonus baggers!
9. Check stake restrictions.
Online bookmakers may only want to have set amount of liabilites for a specific market. So it is important that you are aware of this as they may not take your full bet. Also, some punters will have their account limited for specific sports, for example if you are always value betting on horse racing, the bookies traders may limit your stake.
10. Online betting payment methods.
Each online bookmaker will list the payments methods tha they will accept. You need to read this before you sign up to make sure that the payment method you want to use will be accepted.
11. Read an up to date preview of the event.
Keeping up to date with the event is an important part of betting, the odds will constantly change depending on the probabilities of the outcome. So if a key player is side-lined by injury or the time of kick-off is changed, this is information worth knowing.
12. Check the weather conditions.
The weather conditions can change the way sporting events are played out, in F1 this can completely change the race outcome. Horse racing will also be affected heavily as will many outdoor sports.
13. Online bookmakers are not banks. Don't keep too much money in your account.
Quite simply put, online bookmakers are not banks. They are companies and keeping your bank-roll somewhere other than a bank or under your mattress is not a sensible idea. Of course having a small amount in is useful as withdrawing money from bookies may take 3-5 days using a debit card.
14. Don't bet whilst drinking alcohol.
Alcohol and betting do not go together, that is why casinos give out free drinks!
15. Don't pay for tips.
Paying for tips is not a sensible option for beginners, tipsters can have bad runs and will lose you money. Best to understand how a sport and a market works for yourself.
16. Watch the event you are betting on.
Not only does it make the event more exciting, you can also see how the odds change during a live match. Almost all bookmakers have live odds on their websites and this can teach you how to bet in the future. If the event is not on TV you can live stream it from the bookmakers.
17. Don't always back the favourite.
Favourites do not always win and there is no such thing as a sure bet!
18. Bet on markets that give better value.
When there is a clear favourite in an event the odds can be pretty dire. Look at different markets like over/under or Asian handicaps. Asian handicaps can be complicated to start with but are worth learning.
19. Cash out
Bookmakers have a cash out option where you are able to settle your bet before the vent is finished. You have to weigh up the pros and cons to this but worth considering.
20. Avoid the Casino and Games sections
Online bookmakers make their biggest margin from their online casino and online games section.
We hope these tips help!