Tips given to Kansans as sports betting set to start
TOPEKA, Kan. (WIBW) - Kansans interested in hedging their bet this football season have been given tips on what to keep in mind while gambling on sports.
With sports betting set to become legal on Sept. 1 in Kansas - just in time for football season - SGPN the Sports Gambling Podcast Network says the American Gaming Association estimated about 31.4 million Americans would bet over $7 billion on the Super Bowl in 2023 and that over 45 million will bet over $3 billion on March Madness.
The Kansas Lottery indicates that sports betting will generate about $10 million in revenue by 2025, but what should Kansans be looking for as they are overwhelmed with sportsbook advertisements over the coming weeks?
SPGN said it has five tips to help Kansans sift through their bets and have fun while gambling on sports:
- Set deposit limits. If a $500 deposit per month is affordable, stick to it and play with that amount. SGPN said each app, as part of Responsible Gaming, offers settings that also offer deposit limits. This should be taken advantage of and stuck to. No one will get rich gambling, but it does make games more fun if it is done responsibly.
- Know your units and stick to them. Decide what your per-game betting limit is and how many of these bets you are willing to put on a game. For beginners, SGPN said a unit could be $5 and set a limit o f5 units or $25 per game. This is important during NFL Sunday and NCAA March Madness when fans are likely to place more bets and can help offset losses.
- Know your sportsbooks. If a larger account of money is available to play with, do not put it all in one sportsbook app. SGPN said betters should spread that money out over a number of sportsbooks so that odds, spreads and promotions differ.
- Know your timing. Stay on top of odds and spreads all week. Often, betters do not get the best odds or spreads if they wait until 12:30 a.m. on Sunday for pro football games. The sportsbooks know most wait until the last minute to place bets and take advantage of that.
- Know your stuff. It helps to take time during the week to read different sites to see what is going on and what odds are favored. SGPN said to find sites that offer analysis about their pics. This way, betters can decide if they agree with them or not and make picks based on that. However, betters should avoid overload because then they could become paralyzed by the analysis.
SGPN noted that it is the leading free content provider of sports betting information on the market.
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