Did you know that the average sports bettor loses 80 per cent of their bets? That’s right! The house always wins. And with our society becoming more and more plugged in, it has never been easier to place a bet online. But before you do that, there are five steps you should take first to make sure you stay safe when betting online.
1. Check the site is legitimate and trustworthy
Pick an online betting site that is regulated and trustworthy. You can check if a betting site is safe and reputable by the reviews on websites like Trustpilot. Always use a licensed betting site and consider the reputation and customer service before placing your bet.
2. Know what you’re betting on
Read up on the game’s rules so that you know precisely what sort of wager is appropriate for which sport – some games allow parlays while others don’t permit them at all. You should also check if a minimum bet amount is required for certain games and what types of bets are offered at the site you’re considering. You can find this information in the betting sites terms and conditions.
3. Know your odds of winning
Try and find a site that offers odds with a reasonable payout rate for your bet type. There are many different types of bets, some of which include:
- Single bet
- Multiple bet
- Full cover bet
- Speciality bets
Review the payout schedule, so you know how much money you’ll win or lose based on your odds of winning any given game. To get an idea of the potential payout, you can use an online calculator like thebetcalculator.com.
4. Read up on betting rules and regulations
Before placing your first online bet, make sure that the country’s laws allow bets to be placed online and if they are legal in your area. An excellent resource for betting rules and regulations is The Gambling Commission, which has a wealth of advice and guides.
5. Bet responsibly – set a limit and stick to it
Setting limits is an important one. You should find the best online betting site for your needs and your budget. And remember, always be aware of gambling addiction warning signs, such as feeling agitated or irritable when not playing and lying about how much money you have spent.
Ready to place your bets?
There are so many ways to bet these days, and with the world of online betting being so accessible, it’s easy to get wrapped up in this money-making game. But before you place your next bet online, take some time to do some research on how best to play. And remember, make sure you stay safe when betting and gambling online!