Although it is challenging to make a living betting on sports, there are many people who do so. Many people’s main source of income is actually from sports betting, and this includes professional bettors. Finding a reliable sports betting strategy is crucial.
Sports bettors of all experience levels can find a suitable betting strategy. Remember that you need a method to win consistently, regardless of how much experience you have.
The Basics of Sports Betting Strategy
These are not concealed information by any stretch. However, if you stick to them, you’ll have a better chance of coming out ahead in your sports betting endeavors. Unsophisticated gamblers who don’t employ any of these tactics are commonly referred to as “squares.” These are the gamblers who generate the greatest revenue for sportsbooks.
Fortunately, these fundamental techniques make even a betting newbie a winner. Let’s dissect the four methods presented in the clip.
#1 Money Management/Bankroll Management
Always know how much money you have available to bet before engaging in sports betting. Your “bankroll” is the amount of money you have available for gambling and are willing to risk losing. You shouldn’t wager any amount of money that you can’t afford to lose on a sports game.
Make a weekly, monthly, or seasonal investment in your bankroll and stick to it. It is recommended that bettors only risk 1-5% of their bankroll on any given wager.
Let’s imagine, for the sake of argument, that you have a $1,000 NFL season bankroll and you want to wager on five NFL games each week. See this working example of determining the optimal wager size.
- The whole pot is $1,000.
- Total weekly spending: ($1,000 / 18) = $55.55
- ($55.55 * 5) * 5 Units = $11.11
The suggested average bet in this case is $11.11. Therefore, with an NFL bankroll of $1,000, we advise spending between $10 and $15 per game on a unit size.
When a sports bettor is down and out, they often make the error of trying to gain more money by placing larger bets. This is the incorrect mentality, known as “chasing your losses.” More often than not, you’ll find up losing even more cash.
To avoid this, it is best to recognize and respect personal limitations. When you’re experiencing a losing run, this will assist you keep your losses to a minimum.
#2 Bet Sober and Don’t Go on Tilt
Although it may seem obvious that one should not wager on sports while under the influence of alcohol, you would be shocked at how many individuals do so. The drinking culture in Las Vegas is so pervasive that several casinos provide free booze to its patrons.
Your judgment will be skewed if you gamble while intoxicated. You should avoid doing this if you want to improve as a sports bettor.
This piece of advice continues with “don’t go on tilt.” In the world of poker, “going on tilt” or “tilting” is a prevalent idiom. When players allow their feelings get the best of them, they make poor choices.
You shouldn’t be placing bets if you’re still upset over something, like a pair of bad beats. Before generating any further sports betting predictions, take a breather, take a stroll, and clear your head.
#3 Do Your Homework
It’s hard to overstate the significance of this tactic in the world of sports betting. Always check the odds and the market before placing a wager. While following your gut instinct can pay off occasionally, it won’t lead to long-term success.
You need to put in the time and effort into studying each wager if you want to make money betting on sports. Examine data, look for patterns, build a betting system, and study previous games. Before placing a bet, you should do all in your power to increase the likelihood that your selection is a good one.
One excellent method of staying current with the news is to read the perspectives of those in the know. Bettors also have access to a variety of other resources that can aid in the identification of profitable wagers.
#4 Shop Lines at Multiple Books
Successful sports bettors know that finding the best lines is a crucial first step. It’s smart to shop around for the best odds possible before placing a wager at a certain bookmaker. To do this, you will need to sign up with several different online sportsbooks.
Online purchases can take some time, but they are well worth it. By comparing odds and lines, bettors can identify the best possible value.
Shopping the lines is a great way to increase your winnings over the course of a sports betting season. Successful sports bettors often employ line shopping as part of their arsenal of betting methods.