Basic Betting Rules

How to successfully navigate the rules of the Gambling Galaxy…

If you’ve worked your way through our academy, then by now you should have some basic knowledge of betting and how it works. However, that doesn’t mean you should just blast off straight away and start placing bets at random. First of all, there are some basic galaxy betting rules you should know before you lift off into the gambling galaxy.

Now, we’re not talking about legally binding rules regarding the gambling laws here in Canada or elsewhere on the planet. What we are in fact referring to is a basic set of rules that our experts have created in order to help your betting experience get off to as smooth and safe a start as possible. However, these rules won’t just help you in the beginning, as you launch your betting voyage. Rather, if you continually follow these 10 simple rules, you should have a safe and fun time as a gambler for years to come.

So without further ado, please join us as we learn the gambling galaxy’s answer to the 10 commandments…

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Your 10 Basic Betting Rules for Intergalactic Gambling Success

#1 – Budget

First and foremost, when betting for the first time, pick a budget and stick to it. What’s more important than the actual budget you set yourself, is thinking about how you’re going to bet in advance. What we’re not telling you to do here is pick your budget for every bet. Instead, you should pick your budget for the week or month, and set that as your strict limit. If you’re up by the end of that month – great. If you lose your budget within your set time limit, stop until the next week or month rolls around.

When starting out, go for a small-time budget and place small time bets. For example, start off with a C$50 monthly budget, which doesn’t sound like a lot. But then, let’s say you set yourself a maximum stake budget of C$5. That means you’ll have 10 bets to place throughout the month, which isn’t half bad.

#2 – Don’t chase your losses…or fritter away your winnings into cosmic dust

Next up, is this important rule. If you stick to your budget then abiding by this rule should come naturally. However, you’ll be surprised by how easy it is to be tempted. When it comes to losses, you might go a little bit under budget and think that one sure-fire bet can bring you right back into the plus. When it comes to winning, you might get excited and keep on betting. Then, before you know it your winnings are gone and your back to chasing your losses. It’s a vicious circle, and a black hole you definitely don’t wanna get sucked into!

#3 – Don’t go for the big score

Or, as they might say across the pond, “Don’t be a mug punter!”. Bets with long odds, such as multibets, combos or parlays can seem attractive. This is because their long odds can make the potential payday seem huge for a relatively small outlay. However, don’t get sucked in. The reason the potential payday is huge is because the chance of it happening is extremely slim. You’re learning to bet smart here, not play the lottery.

#4 – Appreciate value

On the other side of the big score coin comes the rule of value. While chasing a big payday is a fool’s game, so is picking a favourite for the sake of it. If you’re 100% sure that a horse or a team is going to win, then chances are the bookies are too. With that in mind, it’s important to check your odds to make sure the bet is worth your while. If a horse is favourite to win at odds of -500, that means you’ll win C$2 for a C$10. Now ask yourself, is that really a valuable bet?

#5 – Make maths your friend

Now, we’re not saying you need to be Albert Einstein here, but you’re going to need some form of relationships with maths if you want to bet smart. So, is “not being a maths person” a deal-breaker when it comes to betting? Well, it used to be. However, in this space-age era in which we live, there are tools to help you overcome your mathematical woes. If you lack the basic division and multiplication skills required for smart betting, then you can use Excel or Google Sheets to do it for you.

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#6 – Know the rules

By this, we don’t mean know these rules – although they are obviously very important! Rather, what we mean is knowing the rules of the sports you’re betting on or the game you’re playing. Additionally, it’s also good to know the limits and betting rules of the sportsbook or online casino you’re using to place your bets. Really, it goes without saying that if you stick to what you know, your chances of winning are higher. But what if you want to learn a new casino game? Fortunately, most online casinos have test modes that allow you to play games for free using virtual money. Learn the game this way before staking real money – think of it as a worthwhile test flight.

#7 – Pick your bonus wisely

Bonuses are the start of our gambling galaxy. What we mean to say is that they’re bright, sparkling and attractive. However, fly too close too quickly and you might get burnt. Ultimately, what you’re looking for is a bonus that will bring some extra light into your betting life.

Okay, we’ll concede that was a little cryptic, so allow us to summarize it more simply. Basically, read the terms and conditions before accepting a bonus. Be sure in advance that you know what you’re getting, you know the wagering requirements and your time limits. If a bonus isn’t worth it, then don’t accept it. It’s as simple as that!

#8 – Strategise a flight plan

So, now that you’ve learned the previous seven rules, you can pull them all together in order to create your very own smart betting strategy. Do you think there’s ever been a shuttle that was launched into space without a plan? No, so why should you blast off into the gambling galaxy without some idea of what you’re going to do in advance? Now, we’re not saying you need a meticulously thought out game plan, that takes hours of work. You’re not Jose Mourinho, and neither are we. But you can do a little bit of groundwork to help the odds work in your favour.

Have you ever heard of the saying “The House Always Wins?” Well, unfortunately, that’s true in the grand scheme of things. And the odds are stacked against you. However, that doesn’t mean you can’t win now and again. Do the maths, study your sports and look up strategy guides online. Thanks to the universe of the internet, there’s never been a better time to bet. It’s not rocket science, but you’ll find that a little research and planning pays off in the end.

#9 – Forget the past

When it comes to gambling, you’ve got to live in the moment while planning for the future. Don’t time travel back to the best and marvel or wallow in it. If you win big, celebrate quickly and move on. Don’t waste all your winnings chasing the ecstasy of a similar big payday. Likewise, don’t wallow in your losses either. In summary, keep level headed, keep planning and stick to your strategy – or you may find yourself crashing back down to Earth before you’ve even reached your destination.

In the same vein, you need to have a long term mindset when looking to the future. Sure, it’d be great to win one big bet and get rich overnight. But the chances of that happening are extremely low. So, remember, you’re playing the long game here. Therefore don’t look back or get too caught up in the present. Keep planning ahead.

#10 – Keep a clear mind!

Betting is the shuttle that guides you through the gambling galaxy, so you need to be able to steer a steady course. We don’t think that we really need to say this, but a cloudy mind tends to equal cloudy judgement.  Additionally, it will almost certainly have a negative effect on your decision making. As a result, your budget, strategy and everything else can else end up flying out of the window into outer space. It’s hard to bet sensibly down here on Earth if your minds on another planet.

Now, we’re not trying to exterminate planet fun with a laser beam here. You don’t need to have a laser-like focus every time you gamble; an element of fun is permissable, of course. However, just keep it simple, and always bet when you’re feeling good and like you can focus on what you are doing and the decisions you are making.

And…you’re almost ready for lift off!

So, there you have it, our expert top 10 basic betting rules. As we said right back at the start, these rules weren’t created with only beginners in mind. On the contrary, we created this set of rules based on the betting principles that we as gambling experts live and bet by ourselves. So please, study them, write them down and take them with you on your maiden voyage. Just promise us you’ll do your best to bet by these rules and ensure a safe and happy journey through the gambling galaxy!

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