Video game betting, otherwise known as esports betting, allows you to place wagers on the teams you think might win. Punters who excel in this field make enough money to do it professionally. Some even quit their jobs and spend time predicting wagers and making more money. Seeing such wins and lucrative streaks may make you consider investing in online video game betting casually or professionally. And if this describes your intention, we have some tips that will help you make money and stay in the game:
Tips on Video Game Betting
While it may not seem like it, video game betting and sports betting have a lot in common. So, if you have tried sports betting, you can use similar strategies to make money when betting on esports.
Here are the five tips you must put into practice:
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Master the Basics
Betting follows the principle of learning the fundamentals before building on them with strategies. You cannot strategize when you do not understand how esports work and how you can place wagers. So, what should you learn?
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- How to find a good betting site,
- How to read odds,
- How esports work in general,
- How the game you want to bet on works, and
- How to study statistics to develop a highly likely wager.
The best way to do this is to start by watching esports. A few games will give you insight into how the game outcomes affect payouts from the wagers. You can also try creating wagers (without placing them) and seeing how they perform based on the outcomes.
The goal is not to create 100% correct wagers, as this is impossible. Instead, it is to understand how to use statistics and odds to better your chances of a good payout.
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Set Goals
Why are you placing wagers? Some people do it for fun, others for money, and others for both. Being clear about what you expect allows you to gauge whether you have been successful. Any goal you set should be:
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- Specific,
- Measurable,
- Achievable,
- Realistic, and
- Timed.
Keep in mind that your goals must align with your expertise level. So, you should be conservative as you start your journey. For example, your goal can be to make $100 from DOTA 2 wagers in the next 30 days. That is a SMART goal – what’s yours?
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Avoid Emotional Betting
You should always place objective bets no matter how subjective you feel towards the teams. Bias is common in wagers and often works to the detriment of the punter. The best way to avoid this common mistake is to steer clear of wagers when you are:
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- Highly emotional, e.g., sad, depressed, angry,
- Not sober, i.e., under the influence of drugs.
In these cases, it’s best not to place wagers and instead enjoy the game like a fan.
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Set a Limit
While people make money in betting, they also lose money. Moreover, betting is addictive, and you may lose more money than you can afford to invest in the games. That’s why capping your spending is so integral to your success.
Before placing any wagers, understand how much money you can invest (it should not be your savings or money you use to pay for utilities). Whenever you deplete this set amount, stop playing. Chasing losses is often a recipe for financial disaster.
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Start Slow
You should not rush the process – patience will pay off in the end. The allure of making money pushes many aspiring punters to place wagers without thinking them through. But as much as you want to aim for money and start making it immediately, esports betting does not work like that. Avoid placing wagers until you understand how to study teams, manage your money, and follow up on your wagers.
Also, keep records to gauge where you often make mistakes.
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