Betting for Beginners: 7 Tips to Master Online Sports Betting

Nigeria's sports betting boom shows no signs of slowing, driven by online convenience and a passionate youth fanbase. Physical shops have made way for mobile apps, with a wave of new bettors joining every day. This dynamic ecosystem, which includes sports and online casinos, now rakes in billions of dollars annually.

However, to newcomers to online sports betting, the terminology and tactics can be daunting. 

The process is simplified here, equipping you with seven need-to-knows every beginner needs to confidently navigate any online sportsbook in Nigeria. 

Here is an introduction to betting app in Nigeria with seven things every beginner should know. 

Mastering Online Sports Betting: Underdogs and Favourites

The bookies (men who take bets) research the teams and their chances in a particular game, then set odds for both teams. 

The odds reflect how likely they think each team will be to win and how much you'll win if you predict correctly. There are two kinds of teams in sports betting:

• Favourites: These are the teams that everyone thinks will win. They're such likely winners that the bookmakers only give them very low chances of winning.
• Underdogs: These are the teams that everyone thinks will lose. They're unlikely to win, so they have much better odds.

Let's use an example to make it even easier:

Let's say there are two football teams, Kano Pillars and Wikki Tourists, playing. Kano Pillars are the reigning champions, so they're the favourite at odds of 1.50. That means that for every ₦100 you bet on them, you would only get ₦150 if they win. Not a lot of profit, right?

Wikki Tourists, though, are the underdog at odds of 5.00. This means that for each ₦100 you put on them, you can receive five times your money, or ₦500 if they win!

Matchwinner Market

Simply put, it's a betting market where you wager on the winner of a specific game/match. You pick a team (the underdog or the favourite), place a stake, and if the team you choose wins, you win the bet! Odds tell you about how much money you can win based on their chances of winning.

Overs/Unders

Over/under betting does not include the forecasting of the victorious team or the exact score of the game. It deals with the total occurrences or statistics of a game. 

The line is set by the sportsbook to represent the expected total, and people bet on whether the real number will be higher or lower than the line.

Although the most common form of over/under betting involves the total points or goals in a match, the market exists across a variety of events and statistics, including player propositions, game totals and team totals on particular events.

For instance, in a football match, when the bookmaker posts the total goal line as a spread of 0.5 to 6.5, you can bet on over 1.5 goals if you believe there would be two or more goals or under 1.5 goals if you believe there will be fewer than a goal in the game.

Online Sports Betting Mastery: Accumulators

Accumulators, or parlays and accas as they are also known, allow you to combine a number of bets for potentially massive returns. 

Instead of staking ₦100 on a single event, that is, you can stake the same on two or more events in the same betslip for a greater return. The returns will vary based on how many bets you place and the odds of the bets.

Therefore, if all three outcomes go your way, you would win ₦1500 from a ₦100 bet.

As you can see, the odds are massively greater for an accumulator, much more so than if you had bet each selection at its own odds. However, remember that the risk is much greater as well. If even one team loses, then the bet is lost.

Placing Your Bet

Now that you've chosen your weapon (bet type), let's get you into the stadium (sportsbook). The majority of Nigerian online sportsbooks have user-friendly interfaces and easy betting procedures. Here's a quick guide:

Register or log in to your preferred licensed and regulated sportsbook. This article takes you through the process of choosing and registering on the sportsbook best fit for you.

• Select your preferred sport and match.
• Browse through the available bet types (favourites/underdogs, matchwinner, over/under, etc.).
• Choose your desired bet type.
• Enter your desired stake value.
• Double-check all your bet details, confirm and place your bet.

Becoming Skilled at Online Sports Betting: How Much to Bet

As a novice online sports bettor, it is recommended that you begin slowly and don't attempt to pursue immediate successes with wild bets.

That is the reason why we recommend using the flat betting system, which promotes stability and control of risk. Flat betting involves the application of a set percentage of your bankroll on each bet, regardless of the odds.

For example, if your bankroll is ₦10,000 and you choose to apply a 5% flat bet system, you would wager ₦500 on each bet. This will keep your losses in proportion and prevent the application of emotional and irrational choices.

Bet Responsibly & Play for Fun!

Sports betting should be a fun and exciting hobby, not a source of financial trouble. Always remember to:

• Set a budget and stick to it. Bet what you can afford to lose.
• Don't chase losses. Losing is part of the game, so don't try to recoup your losses by betting more.
• Take breaks and have fun. Don’t get consumed by betting. Enjoy the sports you’re watching and celebrate your wins responsibly.

By following these tips and the information provided above, you’ll be well-equipped to navigate the online sports betting landscape in Nigeria with confidence and knowledge.

Remember that sportbetting.ng is by your side every step of the way, providing a wealth of information, educational resources, and informative guides to enhance your sports betting experience. Good luck, and may your bets be winners!