Betting on sports has become the favorite hobby of millions of people around the world. The hobby itself is so diverse, with popular sports including American football, horse racing, and combat sports.

2023 has shaped up to be one of the more exciting years for sports bettors, and there have never been so many sports or online sportsbooks to choose from. But, as a new sports bettor, you might be overwhelmed. This article will provide you with 6 sports betting tips for any sport that you can use to improve your odds of winning, enhance your playing experience, and walk away with extra cash. Continue reading to find out what you can do to get ahead in 2023.  

Use Every Resource at Your Disposal

The great thing about betting in 2023 is having so many resources at your disposal to make great bets. For instance, if you want to find out about super bowl odds, sites like DraftKings exist for just that. These sites also provide betting tips and all the stats you’d need. You should also use sportsbook comparison sites to quickly compare the various odds. Don’t just settle for the odds listed on one site, as another might offer something better. By not taking advantage of these resources, you are limiting your odds of winning. 

Understand the Basics

Another way you limit your odds of winning is by betting on sports you don’t understand. Many new sports bettors eagerly bet on their favorite sports. However, this is not a sound strategy. The more sports you bet on, the more you need to learn, and the more research is required. 

It’s far more advantageous to choose one or two sports and learn everything you can about them. There are many things to familiarize yourself with, such as the following:

  • Players
  • Teams
  • Recent performance trends
  • Rules

The more you understand the sport you bet on, the higher the odds of a successful bet. Sports betting is supposed to be fun, so if you’re not enjoying the sport you are learning, you don’t need to continue. 

Avoid Emotional Betting

Something that many sports bettors are prone to is placing bets in an emotional state. This doesn’t just mean being upset; it also means being excited, happy, etc. Emotional betting should be avoided if you want to win.

Furthermore, if you avoid betting on a team because you don’t like them or because they’re not your favorite, you will miss out on many chances to win. Rather than betting using your emotions or gut feelings, stick to analysis, research, and data. 

Manage Your Bankroll

As fun, as sports betting is, it’s important to understand that you are using real money. You should never bet more than you can afford to lose since this can lead to financial problems and stress. Chasing losses is also something you should avoid since this strategy almost never works. 

To avoid this, you should create a budget before betting. Set aside an amount you are comfortable betting with each month and divide that by the number of sessions you want to have. You can even bet between 1-5% with each bet to ensure the bankroll lasts longer. 

Conduct Thorough Research 

If you were to look at the most successful sports bettors, whether they bet on NFL, tennis, or horse racing, you’d notice the one thing they have in common is conducting thorough research. To be successful at sports betting, you need to take the time to do research. 

Every bet you make should be backed by data and analysis. There are many factors to research:

  • The past performance of teams/players
  • Injuries
  • Past injuries
  • Personal issues players are dealing with
  • The number of training sessions each player/team has had
  • Who is the coach/trainer is 
  • Performance trends during certain weather

Each variable you research will give you a better indication as to the outcome of the game/match/event. 

Make Value Bets

In the beginning, you are more likely to bet on clear winners. While this is a good strategy to make money in the long run, value bets can offer a more lucrative opportunity. Before describing value bets, you should know that there won’t always be a value bet available. 

You can think of a value bet as – if your calculated odds of a team winning is higher than the odds listed by the sportsbook; this is a valuable betting opportunity. The team might not be the favorite according to the sportsbook, which makes it a risk.