“Play it Smart: ESPN’s Guide to Responsible Gaming”

The Intelligent Bet

So what constitutes an intelligent bet? An intelligent bet begins by researching how wagering operates, familiarizing oneself with the terminology of sports betting, and meticulously strategizing how much to wager. Each kind of wager carries its own degree of risk or reward, and knowing when to apply each is crucial for making an intelligent bet.

Investigate the teams, athletes, and statistics involved, along with any patterns that may sway the outcome. An intelligent bet isn’t made on instincts – it should be based on informed choices.

An intelligent bet also involves recognizing when to call it a day. You are not going to win every wager regardless of how extensively you study. As Scott Van Pelt has illustrated, Bad Beats occur (quite often!). Prepare in advance and determine how much you’re willing to part with. And when that amount is spent, take a pause.

Ultimately, sports betting enhances your personal engagement with the games you cherish. Dedicate the time to understand how it functions and become a scholar of the sport.

The Fundamentals

First the basics. Familiarizing yourself with the jargon and comprehending what all those figures signify will assist you in betting wisely. Explore ESPN’s Smart Play Guide to Sports Betting.

Additionally, here’s a useful Sports Betting Glossary that clarifies the terminology surrounding odds, lines, spreads, futures, and more.

Sincere Dialogue with ESPN Betting Analysts

Responsible betting means keeping yourself, along with your family and friends, in check. Have you observed that one of your acquaintances seems overly emotional when placing bets? Are they attempting to recover their losses in hopes of reclaiming their funds? Did they win significantly and now believe they are invincible? If so, it’s likely time to have “The Talk.”

Unsure how to initiate the discussion? ESPN’s Erin Dolan, Joe Fortenbaugh, and Tyler Fulghum can assist – share the videos below with someone you believe might need a bit of extra support.

Regulating Your Wagering

Some may refer to it as “fun money.” Others might label it as a budget or a bankroll. The underlying concept is that you’re wagering what you’re comfortable losing. Because, indeed, that is going to happen! There are tools that sportsbooks offer within their app to facilitate this, allowing you to wager within your financial limits, including:

• Spending Limits

• Deposit Limits

• Loss Limits

• Time Limits

There are several commonly accepted theories on bankroll management; however, many advocate that you should risk only 2-5% of your bankroll per bet. If your entire bankroll is $100 for a season, your maximum wager should not exceed $5. Your wager size diminishes as your bankroll decreases, so avoid going “all-in” until you reach the minimum wager size the sportsbook will accept.

Check out the Rookie bettors camp: Ultimate bankroll survival guide.

Pursuing Your Losses

Pursuing losses occurs when you lose your self-control and stake more than you ought to on a game, mainly because you’re frustrated about losing your last bet. Keep in mind, your previous wager does not influence the odds of your subsequent one.

Control the Emotions

Always remember, this is meant to be enjoyable. Naturally, it can be exasperating when faced with losses or can bring immense joy when we win. However, placing bets while overly emotional is never a wise choice. Take a step back until your rational self returns.

You’ve Scored Big: What Now?

So you secured that 6-leg parlay and earned some cash. However, now is not the moment to go all-in on that 10-leg parlay because you feel omniscient. Instead, it’s precisely the time to temper your enthusiasm because statistically speaking, chances are you will not be as fortunate the next time. Take a pause, savor the victory. It’s perfectly acceptable to allocate some of your winnings towards the next bet, but adhere to the 2-5% principle and maintain your bankroll under control.

Recognizing the Warning Signs

Being aware of some of these warning signals can assist you, a family member, or a friend. Fortunately, aid is accessible if gambling begins to spiral out of control. Explore the state-by-state resources available when you identify the warning signs. You can also call 1-800-GAMBLER.