Sports betting has become an increasingly popular as a way of entertainment and investment. And one of the things that attracts sports enthusiasts into sports betting is that the options are just endless! Sports betting includes different sports including horse racing, soccer, basketball, and even golf.

However, having knowledge about a certain sport is not enough to bet. You need the right skill, self-discipline, and effective strategy to be successful in betting especially if you want long-term profits from your betting. In this article, we will cover some of the things you need to know before you start betting.

There are many types of sports betting

Sports betting is not limited to just picking the winner of the game – that’s actually just a small portion of the betting options available for punters. As the industry grows, betting options can involve any aspect of the game which Is a great opportunity for punters to make money.

Bet types per sport:

Extensive wins can get you banned

Unfortunately, winning too much is a red flag for bookmakers. Bookies pay money out every time one of their customers wins a bet and of course, their goal is to take more money in than pay out.

Fortunately, countries like Australia have Minimum Bet Laws in place with all bookmakers, ensuring even banned and restricted punters can get set.

If you want to know how to avoid getting banned by bookmakers, Winning Edge Investments wrote a detailed article about this here.

Not all sites that provide free tips are credible

Perhaps you are just starting out and aren’t sure whether a tipping subscription service is the right direction for now. Your internet search will generate many sports betting results of businesses and sports tipping sites available to you where it is not necessary to buy tips.

Make sure to do your research first and look for tipping sites that offer transparency and consist of real expert analysts.

Never bet beyond your means

You might think that this is too obvious, but you will be surprised how many punters still go beyond their means in hopes that their next bet will win and end up losing instead.

Running out of money is one of the reasons why more recreational punters do not make a consistent and long-term profit. It does not matter if you start out with a small amount. Just remember this seed capital is money you must be able to afford to lose. Bet with a bank in mind and aim to only bet 1-3% of your betting bank on any one bet.

Follow a proven strategy

Whether it is using your own successful betting strategies and/or following services run by professionals with a long-term proven track record, make sure your betting activities have a purpose – long term profit!

If you are new to punting and want to learn more on top of these advice, we recommend you to get Winning Edge Investments free 130 page Betting Information Pack. They send out a weekly newsletter full of free betting tips, education, and information to help you become a far more successful with punting.