Like many sports fans, you may enjoy betting because it adds an extra element of excitement to your favourite game. You get all the thrill of the competition with the added bonus of a profit opportunity should the result go your way. This type of casual sports betting is fine for some but the novelty can soon fade if you start losing cash on a regular basis.
|Website||Rating||Signup bonus||View Site|
Other gamblers take a more serious approach and bet with the sole intention of making a long-term profit. To achieve this, they use research and analysis to develop strategies that give them an edge in a particular market.
If you have just started betting on sport and are keen to make some extra money while enjoying the game, there are some basic strategies and habits that you should consider using from day one. These guidelines are the foundations on which all good betting strategies are built.
Sports Betting Strategy 101
Bankroll or money management is the first and the most important thing that you must plan before entering the betting world. If you think of your betting venture as a business, then this is your start-up fund.
You don’t want to allocate it all to one area and have nothing left, so you need to sit down and decide how much you are going to invest in your first bets. Remember, you are a sports betting novice and you may need a period of experimentation before you start to turn a profit.
During this initial learning curve, you should only bet with very small stakes and keep the majority of your bankroll in reserve. Allocate an amount that you are prepared to write-off and spread that amount across many bets, putting any profits you do make into your main fund.
See how long you can make this small pot last and when it is gone, compare the profit that you have withdrawn against your original stake to calculate your yield. If you are running at a loss, you will want to tweak your strategy and try again.
It may take you weeks or even months to build up the knowledge and confidence to finally raise your stakes, but once you can produce a regular positive yield, you will be ready to start making money with the majority of your bankroll still intact.
Best Strategy for Bets: Use Your Head Not Your Heart
Watching sport and following a team can be an emotional business but this is one factor that should never influence your betting. Saying: “I’ve got a funny feeling they’re going to lose,” or “My gut tells me they can do it” is fine when you are shooting the breeze with your pals, but these gut feelings are no basis for making a bet.
Of course, people can get lucky and win just by picking a bet at random, but you must learn to run the numbers on every bet you place.
The same also applies when receiving tips from other people. Rather than blindly placing a bet on a hot insider tip received through a friend of a friend, check it out for yourself. If the numbers look good and the bet offers true value, then you may decide to go for it, but never bet just on someone else’s say so.
If you are going to be a successful gambler and make a profit, you will be working on very fine margins week in week out. The sportsbook are doing all they can to ensure that the odds are tilted in their favour and you are working hard to find your own edge. One badly thought-out or misplaced bet could set you back or even wipe out your profit. You must maintain you discipline.
Do Your Homework. Always a sensible Wagering Strategy.
When it comes to sports betting, research is everything, and a little homework can go a long way towards finding a profitable bet. Whether you are betting on the NBA playoffs, a European soccer match or the NFL regular season, you should always look at the statistics before parting with your hard-earned cash.
There are so many factors that can affect the outcome of a game, so you need to minimise your risk as much as possible by looking at some data. A few basic statistics you should always check before betting include:
- Current form - When analysing the current form or past record of a team or player, make sure you look at a decent sample size. Check the data for at least the last ten games to get a good picture of how your team or player has been performing. From this data, you can calculate average scores, win ratios and other important stats to help you make a decision.
- Head-to-head - Checking the head to head data between two teams can provide some interesting results. Some teams just seem to be unable to win at certain stadiums or against a particular rival. These statistics can reveal who might have a psychological edge in the game. If the current form and head-to-head statistics favour one team, then you can add them to your shortlist of picks.
- Strengths and weaknesses - When you are looking the statistics for a team, you may spot certain trends or an area in which a team may excel or even be vulnerable. Identifying strengths and weaknesses can be useful for many types of wagers including proposition bets. If you spot a trend or detail, you can often find a market to exploit that statistic.
- Other things to consider - There are always other things to consider such as injuries and suspensions to key players, changes to coaching staff and motivational factors such as dead rubber matches. Always look at the bigger picture.
Open multiple sportsbook accounts: One of the Best Sports Betting Strategy.
The importance of having several bookmaker accounts should never be under-estimated. By failing to spend a few minutes of your time signing up to all the top sportsbooks, you could be throwing away profit every time you win. Not every sportsbook offers the same odds and having multiple accounts allows you to place your bets in whichever marketplace is going to give the best return.
Successful gambling is all about maximising profit and minimising risk, this simple strategy is probably the easiest way to maximise betting profit because it requires no specialist knowledge, just a bit of common business sense. If you are choosing between several financial investments with identical risks, you should always pick the one with the best return - there is no valid argument to the contrary.
To emphasise the importance of this strategy, it is worth noting that many seasoned gamblers can increase their returns by 10 or 20% simply by optimising each stake in this way. Those kinds of figures could make the difference between a profit and a loss over the course of a year.
We would suggest opening account with at least 5 bookmakers when you start out. You can then use odds comparison websites to find out which sportsbook is offering the best price on that bet.
To find out which sportsbooks you should be signing up to, visit or top recommended sports betting websites page.
A More Advanced Betting Strategy: Always keep a betting log
You don’t have to be a spreadsheet expert to keep a basic betting log but the more accurate your records are, the more useful they will be in the future. If you take a few seconds to log vital information about each bet you place, you will easily be able to identify your own betting strengths and weaknesses.
You can eliminate or tweak your strategy in markets where you fail regularly and you can focus on areas where you excel. A well-organised betting log will also give you a ready-made reference database for researching future bets.
So what information should you include on your betting log? You can make your log as simple or as complex as you like but all betting logs should contain the following details as a bare minimum:
- Game information including date, venue, teams and tournament
- Type of bet or betting market
- Which sportsbook did you use?
- What odds did you get?
- How much money did you stake?
- Result of the bet and how much you won or lost
You can add further information such as what research you did and why you thought the bet was worth placing. This will help you to avoid placing bets on a whim or with no statistical basis. The more information you include, the easier it will be to analyse your wins and losses in the future and to fine tune you betting strategy.
Bettors that do not keep some kind of betting log are significantly less likely to succeed. If you talk to any full-time or professional gambler, they will almost certainly spend a large chunk of their time compiling records of their bets and analysing their own performance.
Another great Strategy: Learn to spot value
As well as using multiple sportsbooks to secure the best price, you can also maximise your return by learning to identify high value bets. This is the first of our strategies that requires a slightly more complex approach but it is something that will come naturally over time if you follow all of our other steps.
It is not always easy to calculate the value of a bet and most people assume that the bookmaker’s odds always represent the probability of an outcome, but this is not the case. A high value bet is one where the price displayed makes the risk of the bet worthwhile based on the probability of the outcome.
A basic rule dictates that where the implied probability multiplied by the odds (in decimal format) equals 1.00 or more, then the bet falls into the value zone - the higher the number, the better.
- Probability: 60%
- Odds: 3.00 (+200)
- High value bet: Yes
You may be wondering at this stage how you can accurately calculate the probability of an outcome in order to apply this rule. Well, this is where this strategy requires some statistical knowledge and research. By examining past results, you can work out very quickly how often the outcome has occurred previously and arrive at a percentage figure.
You can then take into consideration other factors such as recent form or injuries and adjust the figure to compensate if necessary. The more research you do, the more accurately you will learn to calculate probabilities for a range of bets.
In the example given above, the bookies price of +200 represents a probability of just 33.3% but our calculation shows a 60% probability. It is these situations where the odds have been undervalued by the sportsbook that we want to identify. The greater the difference between the two values, the higher value the bet.
Don’t worry if this all sounds very complicated, after a few weeks of betting on a regular basis, you will soon start learning to focus on those high value bets.
Find you own methods
As you become more and more experienced in the field, you will soon start to plan your own betting strategies. Hopefully, you will start to make a small profit and will slowly adapt your methods to maximise your profit and minimise your risk.
Remember that successful gamblers rely on small regular wins at high value rather than big payouts from small stakes. Once you adjust your mindset and start thinking like a pro, the whole process will become lsecond nature.
If you do stumble on a winning strategy, take our advice and keep it to yourself. Top gamblers rarely reveal their true secrets and it always pays to keep your cards close to your chest. And finally, you must remember that betting is a game in which anyone can lose.
Even the professionals get their fingers burnt from time to time; so always do proper research and be sensible with your bankroll. Never place a bet that puts your lifestyle in jeopardy.