Tips for New Bettors in New York
The Empire State has legalized sports betting, and the numbers are already massive. New York will quickly become the largest sports betting state in America with no chance of being removed until New York or Texas pass bills.
New York online gambling is taking off, but many people are still hesitant or have questions about the market. This is normal as New York sports betting is massive. If you are looking to get into betting, this is the article for you!
We will lay out multiple betting tips for you to get started and thrive in the New York sports betting industry! Let’s get into the list.
Requirements
When the Supreme Court legalized sports betting in 2018, it gave individual states the right to pass their own sports betting bills. Over half of the states in America have legalized sports betting, but they all have different rules.
In New York, you must be 21 years of age to place a bet. You do not need to be a New York citizen to place a bet, but you must be located within the state border. New York’s sports betting apps will utilize your phone’s GPS location to ensure you are in the state.
If you are outside of New York, you can view the odds. However, you cannot place a bet.
How to Sign Up
There are multiple sportsbook apps available in New York we will get into later in the article. However, the registration process is the same for every app. You can register for as many apps as you would like in the state.
I recommend this because all books have different bonuses. It’s impossible to lose money when you are playing with house money. Take advantage of multiple books in the state.
When you are looking to register, download the sportsbook app of your choice and proceed to the registration section. Enter the required information like your name, address, date of birth, and last four digits of your social security number.
Once you do this, you will be all set and ready to place bets on the sportsbooks. There are numerous ways to deposit and load money.
Line Shop
The benefit of New York’s market is that all the best sportsbooks are located in the state. This gives you the ability to line shop. In sports betting, your wins and payouts are based on the odds. All sportsbooks have slightly different odds based on the bookmakers and computer technology.
Most sportsbooks are in the same ballpark, but they all differ slightly between markets. A half of a point may not seem like much to a new bettor, but this is not the case. A half of a point makes a huge difference when it comes to sports betting.
You want to take advantage of these differences and place the correct bet. Give yourself the best chance to win. The best way to do this is through line shopping.
Manage Your Bankroll
Sports betting is excellent, but never let it get out of control. The best way to do this is by managing your bankroll correctly. Everyone has the goal of winning when it comes to sports betting. However, it’s impossible to win 100% of the time.
You must realize the losses will be plentiful, and this is where bankroll management comes into play. You should set a limit and never go past this number. Also, the limit you set is a number that you should be comfortable losing.
When you lose this amount, you should not put more in and chase your losses. This is never a good idea when it comes to placing bets. When you try to chase losses, you often make bad decisions.
It’s never wise to make bad decisions when betting because it will result in more losses. Set a number over a certain period and stick to it for sports betting in New York.
Hammer the Promotions
New York’s sports betting apps have a ton of promotions. The market is very competitive, so many bettors are looking to wager. Every sportsbook needs a strategy to attract bettors. The way they make this happen is through promotions.
The promotions in New York vary and circulate around different events. The main deals you will find are for new players—these range between deposit matches and risk-free bets.
A deposit match is when they match your initial deposit. The prominent sportsbooks like DraftKings match up to $1,000. FanDuel is another big book that provides bettors with risk-free bets. A risk-free wager is when you receive your losses back on your first bet.
If you win your first bet, you will keep the cash. However, you will receive the money-back in free wager credits if you lose.
Study, Study, and Study
The best way to win money is by studying the various sports you will wager. The easiest way to lose is by betting on something you know nothing about and doing it blindly. Sports betting is complicated for a reason, but it becomes easier if you prep.
You need to study everything from recent matchups to the weather for an outdoor event. Knowledge is power in sports betting, so keep this in mind.
It’s best to bet on teams that you know. However, when betting on any game, make sure you have a lot of information and you are well prepared.
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