Sports betting is vast and shows no signs of slowing down. Many sports enthusiasts want to get involved but are puzzled about where to start betting on sports they know little about. 

By 2023 the online global gaming market is expected to reach $92.9 billion. Increasingly, more and more bettors are joining this enormous industry.

What's more, the industry is growing by 11.94% each year.

Studies have shown that the top reason why people bet on sports is for entertainment purposes. 

Typically, people bet on their favourite teams hoping that those wagers will make watching their favourite games even more compelling. 

A minority takes their sports betting further, attempting to make a career out of it. 

To them, sports betting is a business.

No matter which type of bettor you are, naturally you will be happier if you win rather than lose. 

With gambling, there is no way to guarantee a win. Still, there are measures you can consider to improve your chances of winning (and hopefully) make some money off your wagers. 

To make it easier for you, we have provided our top tips for betting on a sport you know nothing about.

Whilst most of these are straightforward, both beginners and experts alike will benefit from reading through them. You may discover something new you did not know.

1. Don't just stick to one bookmaker – shop around

Betting online is the smoothest and most suitable way to place wagers on sporting events. Hands down, the most challenging part of this is deciding which site you want to join, solely because there are a plethora of websites to choose from. 

Our tip is to sign up for 2 or 3 to gage which you find easier to bet on. Online betting is fiercely competitive, as companies seek to lure you into betting with them and only them. 

2. Keep it simple - stay away from accumulators, to begin with

It is tempting to place those more complicated and advanced wagers and accumulators since they often offer substantial payouts. 

Whilst we would never advise that you should never make such wagers, there's a lot to be said for sticking to more straightforward bets, especially when you are just starting on sports you know nothing about. 

Even though this may seem obvious, bettors forget this vital point all the time. The fewer selections included in your bet, the more likely your chances of winning will increase. 

If you are betting to make money, think small, not big. 

One team or selection if you can stake enough. Three or four maximum. 

Once you find yourself putting that 20-fold accumulator on, you are walking into the minefield of trying to get a payout!

When you know the sport well enough - maybe you will be as lucky as this guy!

3. Use online websites bonuses and promotions

Most sports betting sites offer bonuses to attract new customers to encourage them to sign up or compensate regular customers for their loyalty. 

The rewards and bonuses available are significant benefits of gambling online instead of bricks and mortar bookmakers, so you should always try and take advantage of them whenever you can. 

Bonuses, promotions and rewards can potentially have a significant impact on how much money you make (or lose!) overall. 

They will offset any losses you incur while you learn about the new sport you are betting on. 

Hence, it is recommended you try out 2 or 3 websites to obtain the newcomer bonuses.

4. The favourite doesn't always win!

Bookies determine odds for a reason - the lower the odds, the more likely the bet will win. The caveat here is that the payout is inferior. 

The beauty about sport is its unpredictability - what you think is a certainty does not always happen. This is when betting on the least favourite can pay off big time.

For example, when tennis player Rafael Nadal took on Fabio Fognini at the Barcelona Open in April 2015, bookmakers had Nadal as the firm favourite. His odds were as short as 1/10 with some bookies.

At first consideration, this would make sense as Nadal is the King of Clay and had won that very tournament a record-breaking eight times.

The bookmakers had overlooked that Fognini had beaten Nadal on clay a few months earlier in Rio De Janeiro. Bookmakers also ignored Fognini's record of knocking out top seeds. His 8/1 price looked very attractive to bettors.

Fognini went on to beat Nadal in straight sets!

5. It pays to follow less popular sports

You think it would be wiser to bet on sports you know more about. This is not an absolute rule: more of a suggestion. 

However, knowledge is critical when it comes to betting. The more you understand how the sport works, the more significant advantage you have against the bookmaker.

As bookmakers attempt to offer more ways for bettors to hand over their cash, they begin to expand the list of sports and betting markets that they cover.

The tip here is that bookmakers like you are covering sports, they too know little about. 

Consider the rise of Mixed Martial Arts (MMA). The sport is obtaining increasingly more coverage, and hence more attention from the betting community. 

Ronda Rousey was the heavy favourite when she stepped into the Octagon at UFC193, against her opponent Holly Holm. She was 9/1 early on and still 6/1 when the fight got underway.

However, why was Rousey at such a short price? Holm is a boxing world champion while Rousey's striking is somewhat lacking. Rousey's strength was her judo, yet Holm had defended 100% of takedowns going into this fight.

Holm won that fight defeating the champion in only two rounds. 

Bookmakers made errors in assessing the two competitors and lost out heavily to more knowledgeable punters.

6. Spend some time on research - consider the underdog

Knowledge is crucial if you like to bet. If you do a little research, you can become more educated about the game you wish to bet on. 

The more insight you obtain, the more likely you are to make reliable predictions. The better your predictions, the more winnings you are likely to make.

Underdogs are great at making shocks - think Leicester City in 2016 - everyone thought their great run would end at some point. 

They were favourites for relegation after all - yet, their run of form did not stop. They frequently surprised everyone by winning match after match. 

Those who did their research by watching Leicester City play knew this. They won game after game and finished as Premier League Champions.

7. Consider in-play betting

In-play betting, known as live betting, can offer some exceptional opportunities for making money.

Live betting involves placing wagers on an event that's currently live. 

Meaning you have the chance to watch some of the action before you decide which bets you want to place. 

Suppose you are good at analysing what is happening. In that case, this can put you at a significant advantage when it comes to making winning wagers.

Plus several betting sites have a "cash out" feature - where if you bet on two results, and one has occurred; you can cash out and take your money there and then without waiting on the other game's outcome. 

Of course, the payout is lower, but if you suspect the other bet will not go your way, it is a great alternative to avoid a potential loss. 

So consider in-play betting if you know little about the sport you are betting on.

Conclusion

Sports betting will require some effort on your behalf, as it is unlikely you will become an expert overnight. On sports you know little about, there is lots to learn. You will unlikely go from beginner to expert right away.

At first, consider spreading your bets with online sites bonuses, promotions, in-play betting, watching live sports games on TV - all will help you become more knowledgeable while keeping things easy early on for you. 

Once you feel confident, you can take advantage of team and individuals form and identify patterns to optimise your betting success - even when on sports you know nothing about!