20 Things Every Sports Bettor Should Know

Whether you're aiming for casual fun or hoping to win big, it's essential to approach betting with the right mindset and knowledge. To help you refine your skills, or even just get started, we at Dimers have gathered the 20 best pieces of advice from seasoned bettors on Twitter.

To do this, we ran the below tweet from Todd Fuhrman through an AI generator and instructed it to scan the replies - all 327 of them - and identify the top 20 most prominent themes that came through within his followers' responses.

What's the best lesson you've ever been taught when it comes to betting sports?

— Todd Fuhrman (@ToddFuhrman) May 14, 2024

20 Sports Betting Lessons

By incorporating the wisdom from experienced bettors on Twitter/X, this article was produced using AI to provide practical and actionable tips for those new to sports betting. 

This guidance aims to help newcomers navigate the complexities of betting, emphasizing discipline, patience, and continuous learning to enhance their betting experience and success.

These insights will provide you with valuable lessons to make informed and enjoyable betting decisions.

1. Start Small and Stay Disciplined

One of the most common pieces of advice is to start with small bets. This helps you understand the process without risking large amounts of money. Never bet more than you can afford to lose. In other words, don’t bet your lunch money unless you’re okay with a diet of instant noodles.

2. Research is Key

Before placing any bet, invest time in researching the teams, players, and other relevant factors. Know the sport you’re betting on. Research teams, players, trends, and stats. Think of it as the nerdy homework you never wanted to do in school, but with a potential cash prize at the end.

3. Avoid Chasing Losses

It's easy to get caught up in the heat of the moment and try to win back lost money. Don’t chase your losses. Stick to your strategy and avoid impulsive decisions. Translation: don’t double down on a hunch because you’re angry at the universe.

4. Understand the Odds

Grasping how odds work is fundamental to betting. Understand what the odds represent and how they affect your potential payout. If math wasn’t your strong suit, it’s time to brush up – your wallet will thank you.

5. Set a Budget

Setting a budget ensures that you don’t spend money you can’t afford to lose. "Set a budget for how much you’re willing to lose, and don’t exceed it. Think of it as adulting, but with a side of adrenaline.

6. Bet with a Clear Mind

Betting while emotional or intoxicated can lead to poor decisions. Never bet when you’re drunk or upset. Make clear-headed decisions. Betting under the influence: bad idea. Betting with a hangover: even worse.

7. Keep Records

Tracking your bets can help you analyze what works and what doesn’t. Keep a detailed record of your bets, wins, and losses. It’s like keeping a diary, but instead of angst-ridden poetry, you’re chronicling your journey to (hopefully) riches.

8. Understand the Sport Inside Out

In-depth knowledge of the sport can give you an edge. Know the sport inside and out. The more you know, the better your chances. So, become the Sherlock Holmes of sports – minus the deerstalker hat.

9. Don’t Bet on Your Favorite Team

Betting on your favorite team or player prop can cloud your judgment. Avoid betting on your favorite team. Bias can affect your decisions. Sure, you love them, but they don’t know you exist – keep it professional.

10. Shop for the Best Lines

Different sportsbooks can offer different odds. Shop around for the best lines to maximize your potential payout. It’s like bargain shopping, but instead of shoes, you’re hunting for winning bets. We recommend using the promos found in the Dimers best sportsbooks section.

3 Months of Dimers Pro FREE

Want to kill two birds with one stone? Well now you can, with the help of BetMGM. You see, the King of Sportsbooks will cover your first three months of Dimers Pro (worth $75!) for free when you create a new BetMGM Sportsbook account and bet just $10. Check out this insane offer right HERE.

11. Use Multiple Sportsbooks

Having accounts with multiple online sportsbooks can give you more options. Sign up for multiple sportsbooks to get the best odds and promotions. More sportsbooks, more opportunities to brag about your smart betting moves. I repeat, we recommend claiming the promos found in the Dimers best sportsbooks section.

12. Stay Updated on Injuries and News

Sports news can significantly impact outcomes. Stay updated on injuries and latest sports news. These can affect the game outcome. In other words, become a sports news junkie – it’s your new superpower.

13. Focus on One Sport Initially

Starting with one sport allows you to specialize and increase your knowledge base. Focus on one sport initially, say NBA. Master it before branching out. Be the king or queen of your chosen sport before conquering new territories.

14. Learn from Your Mistakes

Mistakes are inevitable, but they’re valuable learning experiences. Learn from your losses and mistakes. They are part of the learning process. Remember, even Batman had to train before taking on Gotham.

15. Don’t Follow the Crowd

Popular opinion isn’t always right. Don’t blindly follow the public or ‘experts.’ Do your own research. Just because everyone’s jumping off a cliff doesn’t mean you should – unless there’s a very soft landing and a pile of cash. Check out Dimers' best bets to see where today's +EV value lies, or take a look at our 'What is an edge in sports betting?" article.

16. Be Patient

Patience is key in betting. Be patient. Profitable betting takes time and discipline. Good things come to those who wait... and wait... and wait.

17. Utilize Free Bets and Bonuses

Many sportsbooks offer promotions. Take advantage of free bets and bonuses to maximize your bankroll. It’s like getting free samples at the grocery store – but way better. Did we mention claiming the promos and bonus bets found in the Dimers best betting websites section.

18. Understand Variance

Understanding variance helps in managing expectations. Know that variance is part of betting. You’ll have ups and downs. So, brace yourself for the rollercoaster – and try not to scream too loudly.

19. Avoid Parlays

While parlays can offer big payouts, they are risky. Beginners should always parlay with caution because they are tough to win consistently. Think of parlays like dessert – tempting, but too much can be bad for you - unless you use Dimers' Parlay Picker tool of course.

20. Enjoy the Process

Lastly, remember that betting should be enjoyable. Have fun and enjoy the process. Don’t take it too seriously. Because at the end of the day, it’s all about the thrill of the game – and maybe a few laughs along the way.