Do you need some help with your betting strategy? Trying to turn a profit is hard when you are gambling, but not impossible. But just how do the professionals manage to keep on winning and make a living from it?
The answer is hard work and experience. Below, we provide our 9 must-know tips to becoming a winner when sports gambling.
- Start Small
For anyone starting out in sports betting, it pays to start small. Little amounts mean you lose less, and you will lose as you start out. By doing this, you can begin to learn how odds and betting works and start understanding sports betting.
Your goal at this point should be to break even. A good strategy is to decide how much you have for betting in the month. Divide this by the number of bets you plan to put on. The individual totals are the amount you have for each stake.
This strategy not only minimizes losses, but it is also likely to see you break even if you hedge the right bets. Once you have built confidence and are moving into monthly profits, you can start to up your stakes.
- Find Your Best Price
One mistake many people make when betting on sports is signing up for one gambling outlet. If you went shopping and saw the same product in three stores at different prices, it stands to reason you would choose the best price. Yet in sports betting, people often settle for one provider and take their prices at face value.
With online gambling, you no longer need to do this. If you are signed up to several services you can switch between them, looking out for the best odds and offers on the bets you make. This will result in a much higher return on investment when the winning score comes in.
- Never Gamble Under the Influence
If you have ever visited a Las Vegas casino you will know that many of them offer you free drinks. This is for a reason, and that is because when under the influence people make bad decisions. If you want to be successful when betting you need to keep a clear and sound mind.
- Find Your Sports Gambling Niche
Your chance to win money will increase if you begin to focus on one niche. Many people make the mistake of betting on big sporting events, or events that are currently in season. However, as they do not know much about the sport they are betting on, they do not maximize their potential.
Pick a sport and stick with it. In fact, go beyond the mainstream and follow up on minor leagues and games. When you know about them and teams that are doing well, you can use them to bolster winnings by using additional bets later down the line.
- Set a Budget
Setting a budget is extremely important when gambling. It can be very easy to fall into a number of monetary traps. Having a set budget prevents you from doing this.
Staking is one method many people use to limit their spending. This involves making sure that they have a set amount for betting on sports, and each stake amounts to between three to five percent of that budget. This prevents people from placing all their money on one bet that could be a loss.
- Decide on a Type of Bet
With so much choice available due to online betting, it can be tempting to make lots of different types of bets. However, to win, you must become an expert at one medium. As well as selecting a sport, that also involves becoming adept at one form of betting.
The choice of bet is vast. Accumulators, proposition bets, and permutation betting are a few of the many methods available. Get to know one or two well and start to use them regularly.
- Know Value
When betting on sports, many people know of the concept of value but seem to disregard it. However, to win money in sports betting, everything you do must center around this concept.
Value is the measure of the given odds and how likely the expected outcome is. When the odds become higher than they should be in relation to the expected outcome, it is known as a positive expected value. All bets you make should have an expected positive value.
- Get Familiar With Strategies
Once you have a niche and you know the types of bets you will place, then start to look at some strategies. This will stop you from placing random bets and help you see winning patterns. Many of these strategies are extremely easy to follow and set up.
An easy beginner strategy is to bet on winning streaks. Look for athletes and teams in your niche who have hit their stride and see what good odds you can get on them. Another is chasing steam, where you look for sudden changes in odds that may have been facilitated by professional betters putting on large amounts.
- Being Objective
One of the hardest parts of professional gambling is being objective. No matter how much you want your favorite team to win, or no matter how much you detest the attitude of a particular athlete, it all has to go out of the window. The only factor that should influence your betting decisions is value and the possibility of making a profit.
Do Your Research
In summary, sports gambling comes down to doing your research. Keep a level head, budget accordingly, and be prepared to accept losses. Once the profit starts, you can enjoy your winnings in style.
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