10 Golden Rules of Sports Betting

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Although sports betting may be considered a hobby by many individuals, it involves actual money that is wagered and can either be won or lost. If you share our perspective, it can be disheartening to witness your funds disappear from your account, seemingly vanishing into thin air.

With the recent legalization of sports betting in Massachusetts, both in person and online, it is important to familiarize yourself with the following set of rules for MA online sports betting. These rules are absolute, non-negotiable, and strictly enforceable.

1. Have a strategy (and stick to it!)

Betting blindly can be compared to grabbing a handful of money, stepping onto the street, and tossing it into the air while a massive truck zooms past. You’ll witness it simply scatter away in the wind, being pulled along the road and disappearing from your grasp indefinitely.

Doesn’t sound like much fun, right? If it does, let’s have a conversation and you can come over to my place and throw your money in the air. But, if you’re anything like me and don’t want to waste your money, then you’ll need a plan.

It is important to acknowledge that various bettors employ distinct strategies, and it is perfectly acceptable to explore different approaches. It is advisable to develop a personalized betting strategy that suits your preferences and objectives. Effective sports betting strategies encompass the following:

  • Research.
  • Odds shopping.
  • Taking advantage of bonus bets and promotions offered by MA sportsbooks.
  • Evaluating your sports betting selections in comparison to other bettors.
  • Only betting a set amount every week.
  • It is advisable to refrain from reinvesting all of your winnings into your subsequent bets.

Ensure that your strategy is tailored to your preferences and aligns with your goals. It is crucial to be content with your strategy as it increases the likelihood of sticking to it. Additionally, be cautious about purchasing sports betting picks from individuals claiming to offer foolproof winners. Such individuals are known as scamdicappers for a valid reason.

2. Bankroll management (be disciplined!)

Money, money, money. While it may be a famous line from a cartoon crab managing an underwater burger joint, it holds significant importance in various endeavors, including gambling. Preserving your wealth becomes crucial if you possess it, and if you desire financial prosperity, you must explore means to acquire it. Nevertheless, the utmost significance lies in avoiding reckless squandering without any purpose.

In terms of managing your bankroll, discipline is crucial. It is important to establish a wagering limit that you feel comfortable with and ensure that you do not exceed it. Some individuals prefer setting daily limits, while others opt for weekly or monthly budgets.

The key priority is to stay within your budget. This implies that even if you encounter a seemingly guaranteed opportunity for betting but have exhausted your budget, you must gather yourself and refrain from proceeding. Ignoring this caution and investing additional funds will only bring you closer to having no amount left for wagering.

3. Don’t chase losses

When you are consumed by the desire to recover your lost money, and as a result, you begin to place increasingly larger bets, it is known as chasing losses. This behavior often leads to rapid financial downfall. While this topic could have been included in the bankroll management section, we believe it is of utmost significance, warranting its own dedicated section.

Sports betting is best enjoyed as a hobby, rather than relying on it to replace your income through parlays. If you find yourself chasing losses, it may be a signal that you could benefit from seeking assistance for your gambling habits. Desperation and the fear of losing more money than you can afford are indications that it’s time to ask for help.

It’s a terrible feeling, no doubt about it, and our aim is to ensure no one experiences it. But if you do find yourself in that situation, it’s crucial to stop betting (remove your apps and block the site if necessary) and think about getting help. You can reach out to the National Council on Problem Gambling hotline at 800-522-4700, or send a text to the same number. Prefer online chat? Visit ncpgambling.org/chat for assistance.

4. Understand what you are betting on

To maximize your chances of success in sports betting, it is crucial to possess a solid understanding of the sports you are wagering on. Making blind guesses without any knowledge about a particular sport can lead to significant financial losses.

Instead, prioritize placing bets on sports that you actively watch, derive pleasure from, and possess a fundamental understanding of. You don’t necessarily need to be an NFL guru to bet on the New England Patriots, but it’s crucial to comprehend how a team earns points, the value of those points, and the fundamental regulations determining game outcomes.

5. Don’t wager while intoxicated

It’s crucial to reiterate that incorporating gambling into a situation where you’re under the influence of alcohol or drugs is undeniably a recipe for disaster, although it may seem like common sense.

Picture yourself waking up in the morning and discovering that your wallet is completely empty. Where did all your cash go? What exactly happened? You decide to call a friend and learn that after a few drinks the previous night, you thought it would be a great idea to celebrate your existence by generously treating the entire bar to round after round of drinks. This revelation would undoubtedly leave you with a sinking feeling in your stomach, although it’s possible that you made a few new friends in the process.

Betting on sports while under the influence not only fails to garner you any friends but also drains your bank account. Intoxication diminishes your inhibitions, increasing the likelihood of making foolish choices. Avoid the consequences of such decisions, particularly when your sportsbook is directly linked to your financial resources.

6. Understand the rules of betting

Have you ever noticed those bothersome terms and conditions that you mindlessly accept just to quickly move on? Well, in the case of sportsbooks, those terms actually hold the essential betting rules.

Every sportsbook has its unique set of rules, although several overlap or resemble rules from other books. It is crucial to understand what determines whether a wager is considered valid or invalid, and also to acknowledge that tickets are honored precisely as they are written. There is nothing more frustrating than believing you have won a bet, only to discover that it is deemed invalid.

Naturally, when it comes to sports betting, there will inevitably be numerous frustrations and heartbreaks experienced, as all too well known by fans of the Cincinnati Bengals or Detroit Lions.

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7. Check the weather

Not all sports are affected in the same way, but let’s consider football betting as an example. Inclement weather, such as rain, snow, or strong winds, can greatly disrupt an offense’s performance if they lack the flexibility to adapt to these conditions. While knowing the forecast is just one aspect of betting, it holds significant importance for sports that continue to play regardless of the weather conditions.

8. Regulated sportsbooks only

The reason why offshore sportsbooks are named as such is because they establish their operations in a country located outside the United States, beyond the reach of US jurisdiction and enforcement. Therefore, we highly emphasize the significance of exclusively utilizing sportsbooks that are legal and regulated.

In order to operate legally, licenses from the state of Massachusetts are required for these activities. These regulated books are subject to the state’s jurisdiction and can face consequences for engaging in unethical business practices.

To ensure the safety of both your money and yourself, it is advisable to exclusively opt for legal, regulated, and reputable sportsbooks. If you are uncertain about the most suitable options for your requirements, our website offers reviews that can assist you in gathering information before finalizing your decision.

9. Limit parlays

Parlays may seem appealing with their attractive odds, but we must inform you that they are not in your favor. While we understand the temptation, the alluring numbers are designed to entice you, despite the unlikelihood of winning.

Parlay betting offers the opportunity to earn more money as you increase the number of legs in your bet. Occasionally, the odds can be quite impressive. Nevertheless, sportsbooks aim to maximize their profits, and one way to achieve this is by enticing people to place wagers without having to pay out significant winnings. Parlays serve as a means for them to accomplish this.

Our recommendation? In general, it’s best to steer clear of parlays or significantly restrict them. This is especially true for large, multi-leg parlays. Your money is too precious to be wagered on guesswork. Opt for wise bets, as they are seldom the ones with the most eye-catching odds that might grab your attention.

10. Shop for lines

When it comes to online sports odds, it is advisable to seek out the most favorable ones before placing any bets. There is no need to restrict yourself to the odds of only one sportsbook. It is convenient and free to create an account at a reputable and regulated online sportsbook (as mentioned in our previous rule). These companies have designed the sign-up process to be effortless and straightforward, ensuring that you are not deterred by any unnecessary complications.

Why not consider having multiple accounts for line shopping? If you have the opportunity to get odds of +145 instead of +110, wouldn’t you take it? We certainly would. Don’t restrict yourself or your potential profits by not doing what is absolutely best for your bankroll, betting strategy, and overall well-being.

Related Articles:

  • Debunking 13 Myths About Sports Betting
  • Sports betting should be seen as a fantastic pastime rather than a profession.
  • Who are Scamdicappers and How Can I Steer Clear of Them?

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