Hundreds of sports are played in different countries around the globe. Tanzania, an East African country, is at the top of all these countries. People of Tanzania generally are sports lovers and take all the games seriously.
Due to the involvement and interest of thousands of people, bet company in Tanzania was legalized in 2003 under the Gaming Act. The Gaming Board of Tanzania controls all the sports activities in the country. The board is responsible for issuing licenses and imposing taxes on different countries.
Now, come back to the main topic of today’s discussion: How to Bet on Sports? For better understanding, one must have sound knowledge of different types of bets. So, first, we go through all the types of bets and then move forward.
Some Common Types of Bets
- Win Bets
Win bets are the most basic bets. You need to select a team who will win in these bets, according to your experience. If your selected team wins, you will get your wager. That’s it.
- Over/Under Bets
In such bets, the sportsbook will set a total of a game. This also can be a total score of a team. For example, a cricket match is played between England and Australia. Then, the sportsbook will set a total that both teams will score 500. Now, you can bet on the score over and under the total, which is 500.
- Points Spread Bets
In points spread bets, the sportsbook assigns the points to the teams which are playing. The points will be fixed for the favourite and the underdog team. For instance, the sportsbook says that the favourite team will win the game by 5 or more points. Now, if you bet on the favourite team and the team wins by only 3 points, then you will lose the bet.
- Future Bets
Future bets are one of the riskiest bets in which you have to select a team and predict it will win the tournament. For this, you must maintain the previous record of teams to predict correctly.
- Parlay Bets
A parley bet combines two or more wagers with a single bet. Overall, the parley bets are not easy to win, but payouts are more than any other bet. To understand these bets, we take an example: you’re betting on the winning of a horse, and at the same time, you also bet for the other 5 races. If one of these picks is incorrect, you will lose the bet.
Tips to Bet on Sports
- Always be Selective
A person cannot be an expert in all the games simultaneously. Always go with the sports you have a better understanding. You will lose both time and money if you go for multiple bets.
- Weather of Venue
In outdoor sports like football, baseball, and cricket, the weather condition plays a vital role in winning or losing a bet. So, always keep an eye on the condition of the venue’s weather. For this, you can google and check the weather prediction of the city where the tournament is held.
- Put Less Money at Start
Money management is the most crucial factor in the gambling industry. One must go with less amount at the start of their betting career. Money successful gamblers advise to bet 1-5% of their bankroll for the first bet and then increase this percentage with the experience.
- Maintain Records Properly
A successful bettor always learns from mistakes that he/she commits in previous bets. Sometimes, it is difficult for a person to remember all happenings in the game. So, always keep records of these events and then analyse your weak areas and finally improve them.
- Beware of Scammers
Before starting a gambling career, one must be aware of scams and frauds that one may face in the future. The scammers trap the bettor with some attractive offers and hack all their data. To protect yourself from scams, think twice before sharing your personal information and check and monitor all your accounts regularly.
- Take Decision on Merit
Mostly, beginners make a mistake by betting in favour of their home team, even if their position is weak in the match. Thus, they lose the bet and the money as well. To avoid this loss, it is advised to take betting as a business and make decisions purely on merit.