Welcome to the world of online betting. Betting Online with places like sportsbook.com or playersonly.com may be very exciting. One of the reasons it's so exciting will be the idea that you may bet on any game all over the world with a click of a mouse. Get the best odds right ahead of the game starts and even have the online sportsbook give you free money. When was the final time your bookie did that? Even though it is quite exciting and sometimes very profitable it's possible to fall into a money pit that can suck your bankroll dry.

The first money pit in the online sportsbook world is the proposition bets. Yes, these can be fun and enticing. Even I have thrown some cash down on the winning coin flip on the super bowl or the first person to possess a penalty in the super bowl. These kinds of bets are fun in big games like the super bowl but have no place in your everyday betting. This is where the online sportsbooks bleed your bankroll. They offer prop bets on every game. They do this given that they know how enticing and profitable they're. So let's get one thing straight. You cannot win consistently on prop bets therefore you'll need to avoid them when betting online. But please by all means take as many when you want in those championship games.

Second you may need to recognize that just because you may bet on almost every game being played that day does not mean you will need to. These sportsbooks make it so easy to determine all of the odds and place your bet in a couple minutes, which in turn increases your chances to throw down a few bucks on a game you've got no business betting on. Slowly this money pit will kill your bankroll and leave you wondering how you lost it all. Lesson to learn here is just stick to the games you know and watch the bankroll grow.

The final money pit in the online betting world is the proven fact that your bankroll is simply a number on a screen and not cold hard cash within your hands. In the online world you will never personally hand over cash to anyone like you would if you took a big hit one week and your bookie came to collect. That feeling alone is sufficient to make you watch your bankroll more carefully, but within the online world it's a bank card transaction and from there on out it's a number on a screen. Sooner or later it might even feel like play money. Do not fall into this trap. If your good gambling with cards you probably won't have an issue with this either, but just to give you another warning ensure you treat that online bankroll as if it were cold hard cash within your hands. That way its a whole lot harder to just throw away.

Now you're ready to start betting online without falling into those money pits that many folks fall prey to. The only other things you really need now to start raking within the dough from the online sportsbooks is an area to bet and accurate sports picks.