BETTING TO WIN: OUR GUIDE TO PLACING SUCCESSFUL BETS
Sports betting has become a hobby for many. However, there is no doubt that you can consistently make money through this fun and friendly pastime.
If you’re serious about sports betting, you’ll need time and dedication – it’s not about successfully placing a big bet and winning a fair amount of money in a single shot; it’s more about making a series of smart, small bets that, over the course of the season, add up to a total win.
Here’s our guide to placing successful sports bets:
Keep an eye on your bets
Most punters, especially those brand new to sports betting, don’t keep track of their bets. This is a big mistake due to two main reasons.
First, it’s hard to keep track of how much is being spent when you don’t have any records. So it’s crucial to monitor your spending and stick to a budget.
Second, records allow you to study those records and look for ways to improve. This is important when the long-term goal is to make a profit. For each bet, you need to record at least the following information:
- Selection
- Odds of selection
- Size of bet
- Result of bet
Payout received (if you won the bet)
Recording this information does not take much time and will help you keep track of the total profit or spend. So there is no excuse not to do it.
If possible, go out of your way and keep more detailed records. This will help you analyse your own performance.
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Compare odds and lines
It’s easy to follow this tip. Comparing sports odds and lines is quite simple and takes no more than a few seconds each time you place a bet.
Since online betting sites and bookmakers don’t all offer the exact same lines and odds, you can make sure you’re getting the best possible deal for each bet. Although the differences in lines and odds are typically quite small, they do add up over time.
Let’s demonstrate this. The following are the odds available on three random online betting sites on an MMA fight.
Suppose we wanted to back Conor McGregor here for $500. If we took the available odds on site A, we would stand to win $365. If we took the available odds on site B, we’d stand to win $375. If we took the available odds on site C, we’d stand to win $400. That’s a difference of $35 between the best and worst odds. While this isn’t a huge amount by any means, it’s still about 10% – getting 10% extra every time we bet would certainly add up.
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Learn some simple sports betting strategies
Many beginners don’t even realize the importance of strategy in sports betting. That’s okay, though, because beginners have many other things to focus on. But even if you are a beginner, it is not possible to ignore strategy completely. Most of the basics are pretty easy to learn, and these fundamentals can help players make good decisions. While there is absolutely no need to learn every strategy involved, a little knowledge can go a long way.
With this in mind, we have come up with the following four simple sports betting strategies that are perfect for beginners to learn:
Betting based on winning streaks
- Betting on market prices
- Backs heavy favorites
- Arbitrage bets
But keep in mind that none of these strategies will guarantee you success. But fortunately, they have merit, and learning about them is worthwhile. If you can use just a few of them effectively, you’ll more often make winning picks.