Many people think they can't win from sports betting. But it is an indisputable fact that sports betting is one of the few forms of gambling that can actually be profitable. Perhaps the only other gambling game that can be profitable consistently in the long run is poker.
These two games share the same denominator - they are games where you have to have knowledge in order to be profitable. The other thing is that both games are played against other people. On betting exchanges like the English Betfair, you are literally betting against other players on the betting market, and in traditional bookmakers, odd makers take on the role of other players and offer you odds to choose from. True, the "house" has an advantage in all forms of gambling. Poker has a rake, and in sports betting the bookmaker's profit percentage is called "vig". Fortunately, bookmakers have a relatively small advantage in sports betting, which varies between 4% and 5% with good bookmakers. One of the lowest commissions you can find in the bookmaker Bwin. When registering, claim our Bwin Bonus Code and get many sports betting opportunities.
Finding value in bets
The number one mistake of losing bettors is that they do not pay proper attention to the odds offered to them. When setting their bets, they are simply trying to figure out who will win and bet on the basis of their reasoning, without being interested in what odds they will place their bet on. Most people do not understand the concept of "value" in bets.
Let's look at an example:
Let's say that the football teams of Barcelona and Valencia play against each other; many people will just think "Barcelona will win this game without a problem. I'll bet on them. Valencia has no chance." This should not be your view on things. In some circumstances, a bet for Valencia can be a great idea. Imagine getting a 50.00 odds, would you ever consider betting on them? What about 1000.00 odds? Then you should definitely bet on Valencia because the odds give us good value. You should always first try to determine what the real odds are of going to every possible outcome of a sporting event and if the odds for one of the exits are greater than the chance of that event, you should place a bet because that bet will be with a positive expected value. In our example, you may think that Barcelona is a favorite, but Valencia can win in 1 out of 10 games. If the proposed odds for Valencia are above 10.00, you must place a bet on the Bats.
The concept of making good value bets rather than simply betting on a team with a greater chance of winning is one of the most difficult to understand betting concepts for the novice players.
Bank Management Plan
Most people place bets solely for fun. This is very nice, but bets are much more fun when your bank account doesn't suffer from them. Ordinary people often bet on a team for not many adequate reasons: they are fans of that team or just have some premonition that he will perform well in Saturday's game. Players then place a stake of any amount, without any logic in determining it, and this is how losing players are born.
People who make money from sports betting use a much smarter plan to choose their bets and an even smarter plan to manage their money.
Money management is a very simple component of sports betting, but there are many players who have problems with it. One of the reasons for this is the lack of discipline in them. The first step to winning bets is to make sure you have enough money in relation to the bets placed. Even the best in the field have a losing streak from time to time. Your bank must be at least 100 times the single bet. If you are going to bet an average of $ 10 per game, you must have at least $ 1,000 worth of bank. If you do not have the opportunity for such a large bank, you will need to reduce the amount of bets placed. This will ensure that you do not remain "out of the board" with a long series of losing bets.
Although there are different opinions and strategies on the subject, if you are a beginner it is always best to place your bets with the same amount. It is better to bet less than the standard bet only at high risk bets.
It is likely that you will often see a match and say to yourself "this match is certain, it will not come out". Then you will want to bet a large amount. However, you should not allow it. The trick in managing a bank is to always stay disciplined.
Consistency is key
Many people use sports betting as a kind of lottery. They prefer to play 10 straight games, although they are well aware that they have no real chance of winning.
Winning players do not rely on big single winnings, but on small, steady and consistent successes. If you can earn 55-60% of your investment in sports betting, this is equivalent to a very good performance.
Accept the fact that you will lose a lot of your bets. Everything is fine, this is completely normal. When you lose a bet, leave it behind and focus on the next one. Michael Pizola, a horse racing betting professional, says on the subject: "Some exit, some don't, and so what, we're moving on to the next bet."
What the losing bettors do is try to "beat" their losing bets. After their overvalued favorite fails to win, they try to recover their double bet loss to another overvalued favorite. Don't let this happen to you.
Odd makers are very good at their job
We don't want to scare you, but the fact is that the odd makers are terribly good at what they do. Don't make the mistake of thinking you are smarter. Yes, they do make mistakes sometimes, and you should take advantage of those mistakes, but you should always ask yourself why the odds are the way you see them. For example, you may have missed a key player injury that makes you see such a good odd?
Always choose the best odds
This is a betting factor that is too often overlooked. Most of the bettors, even some good bettors, like a bet, go to their bookmaker, see the odds and place a bet. However, what if you find a better bet in another bookmaker?
Successful sports betting requires looking for the best odds. If you always manage to find an odd even one tenth better than the rest, in the long run this small difference will be a huge amount of money earned.
It is for this reason that we have shown you not one but eight bookmakers on our site. Each of these bookmakers offer top odds, but sometimes in one bookmaker the rate is increased for one team and in the other bookmakers for the other. It is advisable to select two or three bookmakers and register with them. This way you can always check the odds in several different places and place your bets where the offer is most advantageous.
Consider live betting
Live betting at sports events often bring great opportunities for making money. If you are unfamiliar with them, see Live Betting Tips.
In short, live betting involves placing bets on an ongoing event. This means you have a chance to look at the action before deciding what you want to bet your money on. If you are good at analyzing what is happening and you have a sense of what direction a match can take based on how both teams are playing, you will have a great advantage in live betting. The good thing is that with live bets, bookmakers do not have as much time to think about setting odds and often make mistakes. Most of them use automated models to determine the odds that depend on preliminary expectations, the current result and the time remaining until the end of the event. However, the preliminary expectations and the current result do not always accurately reflect the true strength balance of the pitch.
Take notes
Keeping notes is something that most players do not pay attention to, but they can really have a big impact on your chances of success. If you make correct records of all your bets, you can draw many valuable conclusions by analyzing and examining the results achieved.
The absolute minimum for taking notes includes the following characteristics:
- What you bet on
- What odds you bet on
- What amount you have bet
- The outcome of the bet
In case you want to do a really serious analysis of your bets, it would also be a good idea to split your bets into several separate categories, such as:
- Sports
- By bet type
- By event or competition
- By confidencein success
Once you do, you will have a clear idea of what is bringing you money and what is not. You will then be able to concentrate on those bets that are most profitable. For even more in-depth analysis, and to know which strategies bring you success, you can write down what were the reasons that made you choose this selection.
Check the rules and regulations
It is always a good idea to be aware of the relevant rules of the bookmaker's house where you will place your bet. For example, you would not be pleased to place a bet on one tennis match that gets suspended because of another player's injury, when the player of your choice leads the result and you hope the bookmaker will accept your bet as a winning bet but it cancels all bets on this match, right?
This is a good example of a significant difference in the rules of the bookmakers' houses - some cancel bets on one player's refusal to play in tennis and others classify them as winners and losers. It is important to always know what to expect from a particular bet. You can see all the Bet365 Football Betting Rules from the Bet365 Football Betting Rules.
Only bet on a clear mind
This may not be true for many of you, but unfortunately it is not a rare occurrence for some bettors to ruin their healthy work by placing reckless bets when they are not in their best mental state - whether it is the result of nervousness because of life problems or dizziness due to several beers. This is obviously something you should want to avoid at all costs. Only bet when your mind is completely clear.
