Many people believe that they can become millionaires from sports betting on the Internet, and many others are convinced that you cannot win from sports betting. In fact, the truth is somewhere in the middle - sports betting is not easy to win, but far from impossible. If you follow these 22 tips of advice, you will dramatically increase your chances of getting on the right side of the barricade.
1. How much do you want to earn?
Without knowing exactly how much you want to earn from sports betting, there is no way to plan your bookmaker’s action plan. The perception of "sufficient income" is different for each person, so we won't tell you exactly how much your goal should be.
2. "Smart" goals
Success in online sports betting must be planned exactly as a detailed business plan is organized. There is no way you can become a millionaire in one year of sports betting. There is no quick get rich scheme. The goals must be smart, that is: specific, measurable, achievable and realistic.
3. Starting capital (bank)
Allocate money specifically for sports betting. It is important that your bank is large enough to cover a sufficient number of bets because losing series is unavoidable in sports betting and if you have money for only five bets, your online bookmaking adventure is likely to be over before it has begun.
4. Open accounts at several bookmaker houses
In order to place bets, you need to have a registration in at least one bookmaker's house, but it is strongly recommended to have such in at least three other bookmakers, as this will give you more freedom and various choices of odds and markets.
5. Choose the right bookmaker houses
Do not consider the above point as a tip to choose several bookmakers on the Internet at random. The selection of bookmakers should be done very carefully, otherwise you will have a lot of headache. Only a handful of bookmaker houses on the internet offer top-level odds and it is virtually pointless to invest your money elsewhere. And many of the bookies have a dubious reputation, so betting is not only pointless but dangerous. It is generally accepted that six of the best bookmaker houses in the world at the moment are:
- Bet365
- Efbet
- Betfair
- Winbet
- Bwin
- 7777Sport
6. Create a betting program
Don't bet on every game you see that will be played today just because you are bored and want something to keep track of. Event selection is just as important as bookmaker selection, so choose which events to place your bets on and which not.
7. Do not jam the emergency exit
Even if you have included one match in your program, do not be afraid to give it up if circumstances have changed. The odds are changing, the players available are changing, the news around the teams and competitors is changing, so there is nothing wrong to change your mind about the upcoming event.
8. Do not pursue lost bets
This refers to the well-known practice of many players trying to recover lost money from previous unsuccessful bets with new larger bets. This is an extremely dangerous practice because most people act and think irrationally after losing bets and make new stupid bets to make up for previous stupid bets.
9. Be disciplined and calm
If you are betting because you desperately need money, the most likely scenario is to lose some of your remaining money. You are already too emotionally engaged to make sober decisions.
If you can leave your feelings aside and view sports betting as just a business venture, you stand a good chance of succeeding.
Emotions have always been a bad adviser when it comes to sports betting.
10. Never bet drunk or tired
It is important to note this, though it may correspond slightly with the above point. You have probably heard that casinos serve their clients free alcoholic beverages because they know it is a surefire way to eliminate their sense of responsibility and sense of reality.
11. Don't bet more than you can afford
You never, under any circumstances, allow yourself to bet more money than you can afford to lose right now. Never take money for food or bills to feed your bank on bookmaking sites. This is a sign of a serious gambling problem and if you happen to do so you should seek treatment rather than a new bookmaker.
12. Proper management of the bank
We said we should have a separate sports betting bank (which is an amount we can afford to lose), but an equally important question is what to do with that bank?
The bank needs to be managed wisely and with the right strategy to take the hit of a possible long losing streak. A good strategy is to have a single pledge of 1-2% (MAXIMUM 5%) of your total bank. The more bets you place, the greater your risk of bankruptcy.
13. Look for value in bets
To win sports bets, you must be able to find bets with a positive expected value. This means you can find odds in bookmakers that offer higher odds than the "fair" ones for a given outcome. For example, Barcelona's real chance of winning the Primera Division is 50% (equivalent to a 2.00 fair odd), and in a bookmaker you find a 2.10 or 2.20 odds for the Catalans. Finding such bets is difficult and is directly related to the ability to correctly calculate the real probabilities of each possible outcome.
14. Shop for the best odds
It is no coincidence that we have told you that you must have registrations in at least a few bookmaker houses. One of the main reasons for this advice is that in this way you are able to "buy" the best odds for your bet. For example, in one bookmaker you can see the odds for the selected bet being 1.70 and the other for 1.85. Even the lower odds can be a bet with value, but in this respect you should stick to the maxim "The more - the merrier!"
15. Take advantage of arbitrage bets
Arbitrage bets are cases where the odds in the different bookmakers vary so much that you can place several bets that cover all possible outcomes and you are already guaranteed to make a profit. For example, in Bookmaker X you see 2.05 to beat the Orlando Magic against the LA Clippers, and in Bookmaker Y the odds for LA Clippers is 2.10. By placing an equal amount on both bets, you are already guaranteed a profit before the first referee is given. The more bookmakers you sign up for, the more arbitrary situations can pop up for you.
16. Use betting exchanges
Don't miss out on the many benefits of betting exchanges that give you the chance to bet against other players on the exchange rather than directly against the bookie. Betting exchanges tend to offer better odds, in which you will find value much more often. Betfair is the biggest licensed exchange in the UK. You can read more about this bookmaker's exchange and strategies for it at "How to Make Money with Betfair Sports Betting?".
17. Never bet on your favorite team
Most of the bookmakers' profits come from avid fans who, before going to the game, place a £10-20 stake on the success of their favorite team. While this may seem to you in some way as a display of loyalty to your team, it is rather a disrespect for your money. All bets must be on the basis of good analysis, and this is obviously missing when your mind is clouded by the desire to win.
18. Don't be afraid to bet on outsiders
Most people prefer to invest their money only on big teams and players. Therefore, when all the favorites to win their matches happen in one round, bookmakers suffer great losses. The good thing about them is that this happens very rarely, and in a large percentage of cases, the favorites don’t win.
19. Do not look for large accumulator bets
It's a good idea to give up the idea of winning a large sum of money from multiple bets with 10 selections, for example. Some players' betting slips are so absurd that they are actually more likely to win the lottery than to win all the matches on the slip. Do you think that it is possible for 12 games with 5.00 odds to win in straight column? Because some people think it is.
20. Choose a few sports and leagues and do your homework
You can't be an expert at everything. Choose just a few sports and just a few leagues and focus your attention on them. This will help you gain the expertise you need and increase your ability to predict the real chances of an event.
21. Pay attention to statistics
Yes, statistics are not everything, but they can actually help you a lot if you can read them correctly. Study the statistics before making any decision on a potential bet.
22. Open your own bookmaker house
Casino players like to say that the only way to make a long-term profit from a casino is to be the casino. This is not quite the case with sports betting, but we are writing this to let you know that there is no such thing as a secure bet and therefore it makes no sense to be angry when you lose a bet. Leave the loss behind you and continue to strictly follow your plan and program to prove that you do not need to be a bookmaker to win from sports betting in the long run!
You can register for 10Bet - one of the best bookmakers for UK. Other good options are Bwin and bet365. Sign up for bet365 and earn a bet365 bonus and many other bet365 bonuses. And with the bet365 mobile app you can track results and bets at any time.
*Bookmaker terms and conditions apply!
Gambling is forbidden for people under 18!
