Online Betting Tips: How to Avoid Common Mistakes
Online betting is any form of gambling done via the internet. It has steadily gained popularity as more people turn to the internet to bet on their favorite sports and play casino games on their phones or computers instead of in person.
Read on to discover helpful online betting tips and the common betting mistakes you need to avoid when placing wagers online.
Table of Contents
- 5 Reasons to Bet Online
- 5 Tips to Help You Avoid Common Online Betting Mistakes
- How to Bet on a Sport Using Bitcoin
5 Reasons to Bet Online
With online sports betting rising by the day, here are reasons why you should try out online betting if you love to gamble.
Convenience
One of the biggest reasons many bettors have shifted to online gambling is its convenience. With physical casinos, you need to plan for time-consuming trips to and back from the venue, whereas online casinos only require a phone or PC with an internet connection, and you can access them from anywhere.
Moreover, you get to save money that you could have spent on traveling costs when visiting brick-and-mortar casinos whenever you bet using the internet.
Availability of a Wide Variety of Events
Unlike physical casinos that provide limited betting options, online betting comes with an expansive selection of sports, allowing you to place all kinds of bets in one place. Most online platforms have all these bets with competitive odds.
In addition to the well-known sports and regular leagues, online betting allows you to bet on niche markets. For instance, the 1xBit online sportsbook allows users to bet on world politics.
Generous Promotions and Bonuses
Another primary reason that explains the popularity of online betting is the regular bonuses and promotions they offer their customers. Although land-based bookmakers may give you some gambling specials now and then, they are not as good as the deals offered by online bookies like 1xBit.
With online betting, you can win thousands of dollars that come in the form of bonuses, VIP programs, and ongoing promotions. For example, 1xBit provides new customers with a welcome bonus of up to 7 BTC.
It is Safer
There have been stories of people losing their winnings to sly pickpockets in physical casinos or being followed and robbed after leaving gambling venues. This is more difficult to achieve when using online betting platforms.
The online betting environment is safer since everything is automated and, in some instances, uses safer online payment methods like Bitcoin.
Numerous Payments Methods
Physical casinos provide limited payment options. Most of them accept cash, wire transfers, and credit cards. On the other hand, online sportsbooks provide bettors with other alternative modes of payment, from PayPal, Skrill, and Netteler to cryptocurrencies.
For instance, 1xBit is a crypto-only platform that lets you make payments using over 40 cryptocurrencies.
5 Tips to Help You Avoid Common Online Betting Mistakes
Now that you have the reasons to bet online, here are some tips that may aid you in avoiding common betting mistakes when wagering online.
Have Realistic Expectations
Like other forms of gambling, online betting is based on chance. You can spend hours researching the perfect bet, but outcomes can go either way. So whenever you start online gambling, it would be unwise to have unrealistic expectations like thinking you will have a lucky break.
With unrealistic expectations comes extreme pressure that may push you into having an unenjoyable betting experience and, eventually, making losses. Therefore, it would be helpful to set achievable goals and play with moderation.
Do Not Bet Blindly
Betting for betting's sake is a common mistake bettors, especially beginners, make. Before wagering on any online casino, you must familiarize yourself with the relevant betting processes and research the events you wish to wager on.
Changing Unit Size
For online betting to potentially work in your favor, it is important to have strict money management discipline. You can do this by having a standard betting unit size and sticking to it. No matter what happens when betting, it is wise not to change the amount of money used in any single bet.
One way to attain a constant unit size is by using the flat-betting approach, where you use 1-5% of your entire bankroll per bet.
Have a Solid Betting Strategy
An excellent betting strategy is invaluable as it improves your chances of winning on your online betting endeavor. Before placing any bets online, it’s wise to take your time to develop a good betting strategy.
With a good strategy, you will know what kinds of bets to wager and which to ignore. For example, when using a strategy based on value betting, you would pick bet markets with odds that give you a slight edge over bookmakers.
Keep Records
A data-driven online betting approach gives bettors insight into their betting journey. It helps to keep track of all bets, money won or lost, and the type of bets you place. This way, you get to know the direction your wagering is taking, helping you make sound decisions like whether or not to betting whatever you’re interested in.
How to Bet on a Sport Using Bitcoin
Now that we know why online betting is good and the common mistakes to avoid when gambling, let's look at how you can leverage Bitcoin to place bets at the 1xBit online sportsbook.
Visit 1xbit.com, and provide your registration details on the left side of the platform or by clicking on the green ‘Registration’ tab.
Log into your account and deposit BTC. You do this by clicking the deposit button and choosing Bitcoin as your payment option. Afterward, use the QR code and wallet address provided by 1xBit to make the payments.
Click on the ‘Sports’ menu icon and choose your preferred sport.
In this example, we selected the ATP Indian Wells tennis tournament game between Taylor Fritz and Jannik Sinner. Once you are done, choose your markets, provide your stake, and present your wager for processing.
Nothing defines online betting better than 1xBit. With the platform, you get all kinds of events to wager on with any cryptocurrency.
Create your account on 1xBit today to enjoy a thrilling online betting experience.