No matter if you are new to the world of betting or an experienced punter, you can’t hope to have consistent success without knowing the trade and how to make smart bets based on a well-established system. We all know that betting is a thrilling experience and an excellent addition to watching a sports game, but when you make bets to earn money, it opens up a whole new dimension.
With this article, we are going to help you elevate your betting game with a series of tips that can help you win and bet smart.
1. Learn the Basics
First and foremost, you can’t make a smart betting decision, no matter the sport you are betting on, without a broad understanding of how the betting process works. Learning the ropes is essential in laying the right foundation for successful betting. You need to start by understanding what odds are, how they work, what kind of selections you can make, what are the stakes and payouts.
Once you get that out of the way, you can turn to different kinds of wagers you can make, such as point spreads or handicaps, over/under, specials or props, futures, parlays, or accumulator bets. You also need to know what kind of wagers can be placed on which sports and you can gain that knowledge by learning the basics of betting.
2. Know Your Sport and Stick to It
Another vital aspect of successful sports betting is knowing the sport you are betting on inside out. With your inside knowledge of the leagues, players, their form, how they fare against particular opponents, are there any spats and notable rivalries, and other such information will help you tremendously when placing bets. When you couple that inside knowledge with the advanced statistics where you can find analysis of their past games, the betting trends, and how certain sports betting systems can be used in a particular situation, you will increase your odds of winning considerably.
Instead of overextending to multiple sports, get to know one well and how betting on it works. That way, you will be in a better position than spreading your bets on a number of different sports without the necessary knowledge.
3. Learn to Manage Your Bankroll
Success in betting is not only measured by how much money you win. Sometimes, a wager skipped is a win in its own right. The basics for successful betting implies great control of your bankroll. You don’t want to stake all you have got on a single fixture, as this behavior could easily result in a total failure. It would be best if you had a smart bankroll management strategy in place to ensure you always have enough to bet without jeopardizing your everyday needs.
The best thing to do here is to set aside the money you can afford to lose and use it as a bankroll. Then, don’t bet more than 1-5% of the entire bankroll on a single fixture, no matter how appealing the odds might be. You also should refrain from chasing the losses with bigger subsequent bets as that will significantly diminish your chances of getting back in the win column. Start with smaller bets and work your way up depending on how successful you are.
4. Shop Around for the Best Odds
Punters are prone to sticking to a particular betting site out of loyalty, habit, or the betting choices they offer. If your commitment stems from significant odds for your favourite sports and the betting options, that is great, but first, make sure to shop around the market and compare the sites to see if their odds are indeed the best.
You can find a lot of bookmakers that have considerable bonuses for both new and existing players. These bonuses can change your mind and you can switch to them instead. Also, know that odds might differ for particular matches across the betting market. If you have chosen games to bet on, make sure to shop around for the best odds for those particular matches.
5. Don’t Bet as a Fan, Bet as a Pro
We can’t deny the fact that betting on your favourite team is enticing, but it does not work all the time. You should remember that you are betting as a gambler, not a fan, especially if you are betting to win money.
Let’s say your team is fighting to stay out of the relegation zone, and you are playing the table leaders. It won’t be sensible to bet on your home team as that decision stems from what is called the home team bias and is emotionally charged. If you have to bet on that event, consider other markets that are more likely than the ones where your team wins against the favourite, no matter how appealing the odds.