After 45 days of deliberation, the U.S. Department of Interior approved the legalization of sports betting in Florida on August 6, 2021. The new bill means Florida is the largest state in the country to legalize online sports gambling. It also means the Sunshine State could generate up to $6 billion per year in revenues for the next 30 years.
Ready to try your luck betting on legal sports in Florida?
Learn the Fundamentals
This applies to almost everything you want to excel at in life. Learn the basics before you think about being an expert. In sports betting, the fundamentals revolve around sports, leagues, teams, bet types, odds and bonuses.
Which sports do you want to bet on? Let’s say you want to bet on football and basketball. You’ve chosen these two sports because you’re a big football fan but also watch basketball sometimes. That’s alright.
Now, learn about different NFL and NBA bet types. Discover how to read American odds, how to choose bonuses and what to look for before placing bets.
Pick the Right Bookmaker
Some bookmakers provide pretty quick payouts. But their odds are not competitive.
Determine what type of betting app you want. Are you looking for a bookie to wager on basketball? Are you more focused on bonuses? Compare several Florida sports betting sites before you make a choice.
Ideally, choose a website that offers a little bit of everything—quick payouts, generous bonuses, efficient customer service, competitive odds and a wide variety of betting markets.
Set Achievable Goals
Every year, lots of people win millions of dollars betting on sports around the country. You can become a millionaire someday. But it takes years of practice and patience. In the meanwhile, set achievable goals based on your budget.
Let’s assume you have $100 to spend on betting every week. You have a plan to split this money into five bets. You can set a goal to win three of the five matches. Another foal might be to win bet types with odds of +200 and above.
For the uninitiated, +200 odds mean you win $200 for every $100 you bet. The opposite, -200 odds imply you need to spend $200 to win $100. Most (+) odds are associated with underdogs while (-) odds target favorites.
That said, setting achievable goals has one major benefit. You’ll have a plan. No need to figure out what odds to target, how many matches to bet on and how much to spend on each wager.
Follow a Rule-Based Strategy
In addition to setting betting goals, become a disciplined gambler. If you choose to bet on baseball and hockey, don’t switch to tennis and swimming all of a sudden. If you set a $100 weekly budget, stick to it.
Discipline helps you follow rule-based betting strategies rather than your emotions. You might feel confident in your favorite soccer team’s chances of winning. But if your analysis shows your team’s opponent has better prospects of winning, you bet on it.
Keeping emotions out of betting is pretty important for your success. Many people lose bets because they listen to their emotions. They wager through instincts rather than through match analyses.
Use Bonuses Wisely
Because bonuses can help improve your profits, it’s essential to take advantage of them. However, keep one thing in mind. Free bets aren’t created equal. Not every bookie gives you a bonus to boost your profits.
Some sportsbooks have bonuses meant to trick you into gambling a lot of money while winning very little in the process. Think of a $20 bonus with 30x wagering requirements. You need to spend $600 before you can cash out your profits. Meanwhile, you probably won $30 or $50.
So, you can be certain you’ll come across bonuses regularly. The only problem is to find an offer with decent terms. As such, focus your attention on picking great bonuses. Then use them to save money and to boost your profits.
Avoid Paid Picks
For many beginners, paying for betting tips sounds like the real deal. You don’t know how to analyze matches. So, why not pay someone $50 per week for five sure bets? The reason is that most paid tips don’t work.
Betting on sports all lies in knowing facts about teams involved. Which teams are playing? Which conferences do they belong to? How are each team’s recent performances? Who are the key players? It takes time to analyze games. But it’s the only way to increase your chances of winning.
Records help you learn from your past bets. Let’s say you have a habit of increasing your bet sizes every time you lose. After three months, you can check your records to discover whether this strategy works.
Maybe you tend to chase losses or to wager on accumulators. Your records can paint a candid picture of what works for you and what doesn’t. Of course, you want to focus on the strategies that work and do away with strategies that lead to losses.
On the other hand, strategies help you figure out whether you’ve been achieving your goals. If everything seems to work, then you can set new, bigger goals.