How to Become Successful in Sports Betting?
It’s amazing, isn’t it? That sports betting is one of the few forms of gambling where having better skills can actually make you one hell of a winner. There are people who earn indecent amounts of money from sports betting, and all it took was following some basic tips about this market and mixing them up with a few effective strategies. There is no reason you cannot be a similar success story. As long as you are willing to learn new tips and strategies, you can also become successful as a sports bettor.
1. Online Sports Betting Tips
I bet you have heard this one before – proper money management is key to successful betting. Actually, once you get this part of sports betting right, the goal of becoming a successful bettor is halfway done. The key here is to use only money you are not afraid to lose.
Other than that, you must bet with the intention to stay in the game over the long term, and that means avoiding the temptation to place large bets that will take a huge chunk off your bankroll if they go south.
Sports betting is not a get-rich-quick scheme, and even those who make hundreds of thousands of dollars from sports betting can tell you that patience is key in this game. Any rush to make fast money will ultimately be a rat race that will end with you losing your money.
As I said at the beginning, this is a game where skills reign supreme. This means you cannot afford to leave anything to chance as you bet. Therefore, you cannot afford to use your gut instincts or any sentimentalities you have about the event at hand to make your betting decisions. You will need to do your research first and establish that the outcome you are rooting for has a fair probability of occurring before placing your bet.
Finally, if you are new to this industry, it is critical that you take the time to understand what it’s all about. This means that you need to understand what odds are, what they mean, and more importantly, how you can use them to your advantage as you bet. Basically, you cannot bet on sports successfully until you understand all the risks involved, and how to gain an edge as you bet.
Sports Betting Strategies
Place Multiple Bets
One of the ways to increase you winnings is to include several sports outcome in a single bet. The catch is that you will have to get every prediction correct to get the expected winning. But the good thing is that the odds of each prediction will be multiplied by other probabilities within the bet, which can significantly increase your chances of winning.
For instance, instead of separately betting $10 on two outcomes with odds of 1.6 and 1.5 respectively, you could place a multiple bet of with odds of 2.4 (1.6 x 1.5). Let’s say you got both predictions right. In the first scenario, the first bet would earn you a $6 profit while the second prediction would earn you a profit of $5; bringing your total earnings to $11 from placing bets worth $20. In the second scenario, with a much lower total spending of $10, you would have ended up with a much better profit of $14.
I think the possible benefits of combining bets are clear here. But as I mentioned, combining betting predictions also increases your chances of losing because getting a single prediction wrong will typically mean losing your entire bet.
Wait Before Betting on the Underdog
Another thing people fail to understand is that most inexperienced bettors will stake their money on the favorite team. And since the betting lines are also determined by the amount of money flowing into the event, these players have an effect on what odds a particular team is given.
So, if you are fairly certain that the ‘underdog’ as per the betting lines actually has the best chances of winning the competition, you should wait until the event is about to start so that the money being placed on the favorite by the newbies makes the odds for the other team much better.
Do Your Own Research
No successful bettor will ascribe their success to the advice they took off some website or some betting tips app. These people do their own research and develop their own betting plans. You should do the same and conduct your own research before placing your bets.
Many of the free betting tips you see will not help you win as a sports bettor. So, find the time to do your own research. It will take some of your time but the effort will be worth it, especially when you become really good at this form of gambling.
Try Live Betting
You can also try live betting. But this form of betting is not for people who are just familiarizing themselves with the industry. Live bettors report higher success rates than regular bettors. This is because seeing the event as it is happening helps improve the accuracy of your decisions.
Still, it takes some bit of learning to reach a stage where you can bet on live sports successfully. I have even provided an article on live betting explaining some key issues you need to look out for before you try the live betting feature your favorite sportsbook is offering.
Take Advantage of the Bonus
Another less direct way to win with sports betting is to take advantage of the bonuses being given by sportsbooks. When you sign up, casinos will typically give you a sign up bonus that will usually be as much as the money you have deposited into your account.
By having a bigger bankroll, you can place larger bets, and that means the payouts for winning bets will be much higher as well. Besides, with a larger bankroll, it will be possible to place more bets; and that means having more chances of winning.
There is a lot you can learn about online sports betting, especially if you are keen on winning with this form of gambling. Just read the articles I have posted about this subject right here on Gamble711 and you will be many times better than a majority of sports bettors in the world today.