2) Know your sport
The more you know about the sport, the easier it will be for you to capture it. Having an interest in the sport will come across in your photos. You will be better able to position yourself, anticipate the action and also know when a good shot will be coming.
If you know how players move and act, then you can anticipate the action. You will know when action will take place or where to look to.
With knowing your sport you will also be able to capture scenes and images you will like.
If you also look at magazines, newspapers, sports books, you will see the type of images captured/used for that sport. The types of images can vary, but again, you generally want emotion and/or peak action. Knowing your sport will help you judge this peak.
Know what you want to capture, know what is required from your images will also help. Have you any set requirements (photos of particular players)? Plenty to consider, but the more you know about the sport, the easier it will be to cover the event.