Betting on sports is a rewarding hobby, and a small percentage of lucky (and hard-working) individuals are able to turn it into a profession. However, like almost any area of interest, it takes discipline and plenty of trial-and-error to succeed.
There’s also no definitive path to success. Some bettors employ statistical analysis over a wide range of sports, while others concentrate on one league such as the NFL or NBA. Then there are gamblers who employ a specific betting system, and these can range in complexity from simplistic to mind-numbing.
Whether you’re a rookie bettor or seasoned pro, the sport betting tips offered in this article should help improve your overall success. (The easiest way to improve your odds is to only play at sports betting sites with the best odds.) Just remember that there’s no strategy that works perfectly for everyone, so don’t be afraid to experiment and learn from your mistakes.
Building a Bankroll
Once you’ve decided to wager on sports, don’t withdraw a fistful of money from your bank account and jump right in. The best strategy is to set aside a little disposable income at a time until you have enough to open accounts at several sportsbooks. A bankroll of $1,000 or $2,000 would be ideal to start with, and you can always increase it as your experience and success grows.
Managing a Bankroll
Now that you have a bankroll, you don’t want to lose it all on a single wager. I suggest risking from 1% to 5% on any given bet. For a $1,000 bankroll, that would mean wagers ranging from $10 to $50. Those might not sound like exciting amounts, but they’ll ensure that your funds don’t get wiped out by a couple of unlucky outcomes.
Bet with Purpose
The goal of sports betting is to generate a profit. If you’re simply wagering on games to make them more interesting, then I’m afraid you’re setting yourself up for failure. Always have a clear purpose in mind when you place a wager, and be sure to treat the oddsmakers with the respect they deserve.
If you don’t know the players and teams, it’s hard to enjoy consistent success. No matter what sport you bet on, you should watch as many of the games as possible and analyze the statistics. The more you know, the better your odds of success.
Avoid Tout Services
Tout services offer to provide you with winning picks for a price. Don’t fall into this trap, as their supposed success rates can often be exaggerated. If it was that easy to make money on sporting events, everyone would be doing it.
Don’t Go on Tilt
When a bettor goes on tilt, they angrily follow up a losing wager with an even larger bet. This is bound to lead to disaster, so avoid the temptation at all costs. When you lose a wager—even a stone cold lock—just accept your misfortune and move on.
Shop for Lines
Don’t settle for the first set of odds you come across. Look at multiple sportsbooks and find betting lines that give you an advantage. This takes extra time and dedication, but it’s bound to save you money.
Keep a Clear Head
Plenty of people like to drink alcohol or smoke weed, but you should never mix these activities with sports gambling. This leads to errors in judgment, which in turn leads to lost money. It’s also advisable to get a full night’s rest before hitting the sportsbooks.
While no single sport betting strategy is going to work 100% of the time, the items on this list should serve you well under most circumstances. Luck still plays a factor when wagering on any athletic competition, but careful research and superior money management can help you weather the tough times and come out ahead in the end.