The sports betting menu is vast and chock full of choices. Some bettors prefer to stick with what they now and specialize, while others are down to bet anywhere they feel they have an edge. In the middle of those two extremes are a ton of other ways to go about it.
The good news is that there are no right or wrong answers when it comes to which approach you should take. If you focus on what works best for you, then sports betting should be a much more fun and entertaining experience, and hopefully profitable to boot.
However, there’s also a lot to be said for expanding your horizons and seeing what else is out there. There just may be something else that fits your personal strategy like a glove, but you’ll never know if you don’t take the time to look.
This article will help you make sense of what’s out there by exploring two of the broadest and most popular ways to get in the game. Let’s get to it.
Online betting in Colorado
Legal and regulated online sports betting was once a fantasy. That’s no longer the case in a number of states, including right here in Colorado. You can bet online with a number of top operators, and there are several different choices for you to consider.
Getting started with betting online is a piece of cake. All you need to do is take a look at our recommended operators, click through on one of our exclusive links to create an account, and enter a few simple details.
That’s it. The entire process takes just minutes to complete. Even better, by clicking through on our links to get started, you’ll gain access to some awesome sign-up bonuses just for creating an account.
After that’s all set, take some time to familiarize yourself with the platform. You’ll see a main betting lobby with featured upcoming betting opportunities, and numerous clickable links to point you in the right direction for what you’re looking for.
Depositing money is a breeze, as the cashier function works seamlessly and offers up a number of different options. The same holds true when it’s time to withdraw. Need some help? You’ll find a number of customer service options to consider to get your questions answered in no time.
When it’s time to place bets, you’ll find that it’s as simple as a couple of clicks and you’ll be all set. Just find the wagering opportunity you want, click on it to add to the betting slip, choose your wager amount, and submit. You can rinse and repeat as often as you like.
If you’re looking for more detailed information on bet types and sports, please take the time to explore all of the resources available here on PlayCO. From the ins and outs of different types of wagers to sport-specific strategy guides, it’s all right here.
The do’s and don’ts of online betting
While it’s easy to get involved with online betting, there are some things you’ll want to keep in mind to help get off on the right foot. Here’s a few things to add to the to-do list.
Start with what you know
Getting started with online sports betting can be really fun and exciting. On the other hand, your mind may begin to swim with all of the choices you have in front of you. To avoid that feeling, commit yourself to keeping it simple at the beginning. Focus on sports that you know and master the workings of a couple of different bet types before expanding into unfamiliar territory.
Bankroll and budget
When betting on sports, it’s important to have strict parameters in mind in terms of your bankroll and budget. This can be a weekly or monthly amount that you are comfortable wagering with, and it should be money you can afford to lose in a worst case scenario. Discipline is one of the keys to long-term success, and that begins with managing your money wisely.
Have a plan
As you enter the arena, you should have a clear-cut sense of what kind of bettor you are or hope to be. Is this only a casual thing you’ll only do here or there? No problem, just plan accordingly and stick to your budget. Have designs on being a more serious bettor? Awesome! However, you should know that there’s a learning curve to get there, so set some achievable goals and benchmarks you can shoot for as your skills advance.
Along with knowing what to do, it’s also important to be aware of mistakes that could come up. Here are some of the landmines that you’ll want to avoid stepping on.
Bet with your head, not over it
It can be very tempting to get caught up in the excitement of sports betting. There may be times when you think you have a “sure thing” and feel the need to bet more than normal. Avoid that temptation and stick to your initial plan. There are no guarantees in sports betting. Getting too aggressive and betting more than you are ultimately comfortable with can be a recipe for disaster.
Avoid unrealistic goals
If all goes well, you may be able to earn a profit by betting on sports. While that’s a goal you can aim for, avoid getting hung up on big delusions of grandeur. No bettor wins all of the time, and any who claim that they do just aren’t being truthful. Sports betting can be a grind, and it takes time to build up your skills. Strive toward getting better, but don’t assume it’s going to result in an overnight windfall.
Don’t forget sign-up bonuses
The online sports betting marketplace is quite competitive. As a result, leading operators are willing to give you free stuff just for trying out what they have to offer. Do not sign up for a new account without seeing what’s in it for you. Here at PlayCO, we’ve done the heavy lifting and gathered the top bonus offers for you to take advantage of, so click through on our links to create an account
Betting on sports while the game unfolds
One of the most fascinating developments in sports betting in recent years has been the advent of live betting. This was once a niche offering that has grown into a must-have for online and mobile sportsbook operators.
As the name implies, live betting is all about wagers you can place in real-time. Opportunities will begin to appear after a game or event gets underway, and new ones will continue to emerge as the action unfolds.
It wasn’t all that long ago that those who failed to get their bets in in time were out of luck. That’s no longer the case. You can still get involved with live betting, which is an area of sports wagering that you can focus on exclusively or treat as a complement to your overall strategy.
Live betting is offered for all of the major sports and events, but opportunities are going to vary.
As with other forms of betting, it’s important to figure out what works best for you. For some bettors, that means keeping an eye on the market as the game unfolds and only placing a bet when they feel completely comfortable.
Others take a more active approach and take advantage of more opportunities with a goal of winning more than they lose. There’s also those who prefer a happy medium. From a bottom-line perspective, the choice is completely up to you.
Additionally, it can help to only focus on the types of live betting opportunities that align best with your skill set. For example, you may have a really good feel for momentum in a football game, but not so much when it comes to basketball.
When it comes to football, that may mean you can look to explore opportunities as every twist and turn develops throughout the game. For basketball, that could be a sign for you to take a longer view and focus on things from a quarter or half perspective.
Live betting has grown to be incredibly popular, and it appears that the upward trajectory is only going to continue. It’s worth taking the time to see if it’s something that may work well for your overall betting strategy.
The do’s and don’ts of live betting
The fast-paced nature of live betting can make it seem intimidating at first glance, but a little exposure to the market will help set your mind at ease. Here are some tips to keep in mind as you get started.
Don’t dive in headfirst
There’s a number of theories on the best way to enter a body of water, but one of the biggest variables is whether you know how to swim or not. This is true for live betting, as well. If you’ve never done it before, then you need to take it slow and get a feel for how the market works. Don’t worry — live betting isn’t going anywhere, so you’ll have plenty of time to increase your play down the road.
Screen opportunities wisely
While the live betting market moves fast, that doesn’t mean you should pull the trigger whenever and wherever without giving it a second thought. In fact, doing so can be a recipe for an absolutely brutal experience. Instead, digest the opportunities as they come up and listen to your instincts. If it’s not something that sits right with you, simply take a pass and patiently wait for better offerings.
Stick to a budget
This applies for all forms of betting, but it’s worth an extra point of emphasis here. As an exciting game or event is going on, it can be pretty easy to get lost in the action. When you add live betting to the mix, you don’t want that to lead you to bet more than you’re comfortable with. As you prepare for a session of live betting, zero in on your exact budget and stick to it.
Live betting can help enhance the enjoyment of live games and events, but it can also have the opposite effect. Here are some things you’ll want to avoid in a bid to make it a better overall experience.
Don’t live bet on sports you don’t know
If you know nothing about construction, then you have no business attempting to build a house. We can apply that pearl of wisdom to live betting, as well. If you’re unfamiliar with a particular sport, then it makes zero sense for your first exposure to be generated from live betting. Sure, beginner’s luck can happen, but it can also go the opposite way in the form of a painful lesson.
No need to bet on every opportunity
After a game or event gets underway, you won’t be lacking for live betting opportunities to explore. Quite simply, there’s absolutely no need to try to take advantage of each and every one of them. In fact, doing so can be quite the drain on the bankroll. As opposed to burning through your budgeted amount quickly, take a measured approach and only bet on what you find most appealing.
Avoid chasing losses
Just like with all other forms of wagering, you’re going to lose some of your live bets. This is true regardless of how fine-tuned your strategy may be. It’s simply a fact of life with sports betting. While it’s certainly disappointing when it happens, it’s imperative to learn to take losses in stride. Learn from what went wrong and avoid the temptation to “get even” by betting even more.
Live betting vs. online betting: What’s the same?
Live betting versus online betting doesn’t have to be an either/or situation. While you can absolutely focus on the one that suits you best, there’s also room to make both part of your overall strategy.
Actually, there are a number of parallels from the two pursuits that you can draw on. For starters, if it’s a game that you have already placed a wager or two on, then there’s a good chance you’ve already done some handicapping.
The knowledge you gained by doing so doesn’t need to be thrown out the window once the action gets underway. It’s the complete opposite. The same things you came across in your original run-through of the matchup still apply.
There will also be similar bet types that come up as the game or event plays out. For example, when betting on an MLB game, you may see updated odds for the moneyline and total.
If you’ve already bet on the game, then this is a chance to bet again on what you already know, or to pivot if things suddenly seem to be breaking differently.
For those who already have a good sense of odds and different bet types, then the transition between the two can be that much smoother. Alternatively, if you need to do some brushing up, get yourself on point with live or online betting before expanding over to the other.
Live betting vs. online betting: What’s different?
There are also some distinct differences to keep in mind when considering live or online betting. Perhaps the biggest item at the top of the list is the overall approach.
For online betting, you’re doing your handicapping before the action gets underway. After you place your wagers, it’s time to kick back and see what unfolds.
It’s a different story with live betting. While you may do your major research before the game or event starts, the work isn’t done when it begins. Live betting opportunities are going to continually appear throughout the contest.
As such, those who are taking an active approach are going to have to stay on their toes. Instead of just enjoying the game and hoping for the best, bettors in that camp are staying engaged with the betting market and looking for places they can pounce.
Live betting also opens up different possibilities than just getting all of your wagers in before the action starts. Games and events can break differently than you were anticipating.
This area of betting offers you the chance to pivot as needed and hedge your bets, or even to double down if you’re confident in your initial feel on the game. Regardless of how you use live betting, remember to stick to your initial budget.
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The bottom line
Thanks to online sports betting, the dream of having a sportsbook at your fingertips is a reality. You can bet on all of the sports you can think of, and choose from a whole host of different bet types while doing so.
Live betting is another area of wagering that is gaining a tremendous amount of traction. These are bets you can place after the action has already gotten underway. While you can draw on some of the same handicapping principles as you would for other types of betting, there are also distinct differences to keep in mind.
For sports bettors, you don’t need to choose between the two or remain exclusive to one over the other. It’s certainly possible to focus on both as part of your strategy, but there’s also nothing wrong with leaning toward one or the other as the priority. That choice is completely up to you and what works best for your overall betting strategy.