UNITED STATES—If you want to have a successful betting experience this time around, there are some pieces of advice and little tips for you to follow. Here are 12 tips you should remember when placing your bets.

What to Do

Do Your Research

As they say, knowledge is power, and none more so than with betting. With the correct information, you can minimize your risk of losing while also maximizing your winnings.

Set a Budget

To avoid getting yourself in financial difficulty, it’s wise to set a budget and manage your betting bankroll effectively.

Control the Quality of Your Decisions

If you plan on succeeding in gambling, you need to find ways of reducing risk wherever possible. This means making sure that you focus on quality rather than quantity when you make bets.

Manage Both Wins and Losses

Coping with the losses in betting is difficult for most of us, but it’s important to remember that while they may seem severe initially, it doesn’t mean that you should continue to make high risk bets to counteract your losses. Swallow your pride and go back to the drawing board before you consider parting with your cash.

Review Your Performance

If you want to improve your odds of winning, you need to strategies. Understand your goals and monitor your performance in reaching that goal – were there certain bets that went particularly well due to research or information you had at your disposal?

Use Reputable Sites

There are countless gambling sites online and most are trustworthy, but it’s still important to do your research and make sure you’re using reputable sites that will ensure you don’t get scammed out of your money.

What Not to Do

Don’t Bet Emotionally

Don’t let emotions take hold when placing a bet, as it can cause you to make irrational decisions that you might regret later on.

Don’t Bet More Than You Can Afford

We all have that desire to win big and change our lives through a lucky bet, but many inexperienced punters bet far beyond their means in order to try and get lucky. Never engaging in betting that could pose a risk to your financial stability or credit.

Avoid Betting on a Whim

If there’s one tip to bear in mind whenever betting, it’s to avoid placing bets on a whim. Whether it’s because a punter has seen a name they like at the horse races or they feel a certain player in a team is lucky, it can risk your success enormously.

Don’t Bet for the Sake of It

It’s difficult to make consistent predictions in betting as there are many factors to consider. That is to say, don’t feel the need to bet on every single game or race every week. Be selective and appreciate that sometimes, the odds will be too difficult to call.

Avoid Your Favourite Team

Successful betting means make a rational call and that’s difficult to do if your emotions are getting in the way, so don’t bet on your favourite team, player or horse so you can stay unbiased.

Don’t Bet Under the Influence

Betting when drunk is guaranteed to lead to poor decision-making, so always keep a clear head and only bet when you are fully aware of what’s going on.