In this article, we will discuss some generic sports betting strategies that may be used to bets on any sport. Take a look at these seven pointers to increase your winnings from sports betting.
Be ready to work sober
You may be surprised by how many drunk sports bettors there are. It should come as no surprise that inebriated gamblers are statistically more likely to lose their money. Successful sports bettors know that you should never wager money while you’re feeling emotional or mentally unstable. One may even go to play from sportsbook uk.
Be on the lookout for favorable odds
You can’t be a successful online sports bettor without this, and it will likely determine your success or failure. It may seem like a lot of extra work to look around for the finest lines, but in the end, the extra money you may win is well worth the time and effort. Join a few of the best online sportsbooks we’ve listed and check the odds before making any wagers.
Favor the underdog
The typical gambler prefers betting on the favorites since they have a higher chance of winning. For a rookie bettor, the most important thing is to win, regardless of how much money was won. People tend to wager on the favorites and ignore the underdogs, despite the underdogs’ sometimes superior performance (bandwagon effect). Because of this, online bookmakers adjust the lines somewhat. When comparing the losses from betting on favorites and underdogs over the last several seasons, underdogs resulted in far less money lost. However, you will still lose money if you blindly bet on underdogs. There are many underdog bets with a positive expected value, so it’s worth your time to seek them.
Conduct independent research
This is another no-brainer suggestion for sports betting, but we felt it was necessary to add it nevertheless. If you know a lot about the two teams (or players) and their previous tendencies, you will be better able to find value in the betting line. Betting on your favorite sport on a hunch may seem like a good idea, but doing your homework to learn about the patterns and analyze the prior games is the key to winning money online.
Invest only in prospective lines (pick your spots)
Bet only on lines where you believe the anticipated value is positive. You shouldn’t feel like you have to bet on every game to prove that you’re a good sports handicapper. The top sports bettors often just wager on one or two games every day when they believe the odds to be favorable. Being patient and waiting in a line that would help you increase your bankroll is crucial.
The Art of Managing Your Finances
Decide ahead of time how much money you can afford to lose while betting on sports. This doesn’t mean there’s a 100% chance of financial ruin, but it’s worth keeping in mind. Then, to build up your betting bankroll securely, you need carefully handle this “sports betting money” you have online. A common rule of thumb for online sports betting is to wager no more than 5% of your whole bankroll on any one event. For internet betting, a $500 bankroll means wagering no more than $25 on any one game. Maintain a steady betting pattern and avoid the temptation of “chasing your losses” by placing larger wagers. After a $100 loss, if your bankroll has shrunk to $400, you should attempt rebuilding by betting just $20 at a time. Professional sports gamblers understand that the betting process is not a contest. Having a substantial bankroll takes time to amass. Long-term financial success requires a patient approach and diligent pursuit of advantageous lines.
Bet on sports you are familiar with
If you’re just getting started in the world of sports betting, it’s best to limit your wagers to events in sports that you have some familiarity with. If you do this, instead of betting on a sport in which you have little to no knowledge, you have a better chance of placing informed wagers. The more money you win as a result of your better decisions.
When you’re just getting started in sports betting, it’s tempting to try your hand at a wide variety of events. The sheer volume of bets that may be placed upon the first login into an online sportsbook is enough to have even the most casual bettor excited. We recommend waiting to bet on other sports until you’ve mastered sports betting on the ones you’re most familiar with.
Never play parlays
While parlay bets may be exciting and can pay out handsomely when successful, the intelligent online sports gambler should avoid placing them. With a parlay bet, you place a single wager on two or more outcomes and get a payout based on the product of those odds. Here’s an illustration:
You decide to split your $10 wager between the 2.45-odd Toronto Raptors, 1.60-odd Miami Heat, and 1.75-odd Boston Celtics. In the event of a sweep, this would amount to a payment of $68.60.
When you multiply the chances of each possible event by itself, you are also multiplying the juice that the bookmaker puts on each betting line. The bookie’s profit comes from a “juice” placed on each result, usually 10%. The anticipated value of a wager decreases when the odds are multiplied since the juice increases at the same rate as the odds.
However, a parlay bet may still be appropriate to make as a winning bettor provided you can identify three sharp bets where the value of each play exceeds the juice.
As a general rule of thumb, here goes: Do not parlay unless you are willing to wager on each leg. This will prevent you from including any bets in a parlay merely because you think adding legs would increase the “possible payoff” even if you don’t think they are +EV.
While parlay bets might provide a fast shot at financial success, it is more prudent, in the long term, to wager separately on each desired result.