There is no doubt that making money on betting is tough, but there are many people who consistently win. There are also professional sports bettors who make a living off betting on sports. In this guide, we will be discussing a few online betting strategies to help you increase your chances of winning.
The basics
In order to make profit from betting, there are a few basic strategies that you need to follow and understand. These betting strategies are not secrets by any means; however, following them will improve your chances of making money.
If you don’t follow these strategies, sportsbooks will make profit from your money.
Bankroll management
When betting at online casinos, like at au-casino.com you need to set aside a certain amount of money that you wish to use for betting. This is known as your “bankroll” and it is the amount you can comfortably part with. Like other forms of gambling, you don’t want to bet with money that you cannot afford to lose.
It is recommended that you set aside a certain percentage of your money that you can use to bet in a week, moth or season. As a rule of thumb, you should only bet with 1-5% of your bankroll.
If your bankroll for English Premier League season was $1000, for example, you should make $10 to $40 bets on each EPL games you wish to bet on.
You should also avoid chasing your losses by placing larger bets. This is a common problem with many sports bettors as they think that by doing so they will be able to win back their money.
This will only make you lose more money. Work with smaller sizes of your bankroll as you slowly increase it over time.
Don’t drink and bet
Although betting when sober may seem like common knowledge, you will be surprised by the large number of people who bet under the influence of alcohol.
In Las Vegas, casinos offer alcohol free drinks and there is a good reason for this. Betting on sports under the influence of alcohol will impair your judgement and you should definitely avoid it if you want to make money in sports betting.
Another part of this point is “Don’t Go on Tilt”. Tilting is widely associated with poker players and refers to letting emotions get the better of you.
If you are upset or angry because of something, such as bad beat with your bets, you should stop placing bets and take a break. Only make further bets after you have clearing your mind.
Research
This is probably the most important betting strategy. You should always do your strategy before placing bets.
While guessing while betting of your favourite games may work sometimes you may not in the long run.
If you want make money on betting online, you need to research each pick you make.
Take your time to analyse stats, analyse past games and create a betting system. You should basically do everything you can to ensure that your picks have value before placing the bet.
Line shopping
One of the most important tips that you need to consider to become a professional bettor is by shopping for the best lines.
This means that you have to set up accounts on different sportsbooks, and when you want to place a bet, you can check to see which sportsbook has the best line for you.
For instance, if you want to bet on Germany on a 6 point spread, you will first check a few different sportsbooks to see if any one of them is offering Germany at 5.5 points.
You can win a good amount of money over the course of the betting season by shopping the lines you would not have known. This is certainly one of the most effective strategies.
Don’t buy points
Avoid the temptation of buying underdogs up or favourites down. For instance, some people have a tendency to buy their favourite NFL game -3.5 down to -2.5.
Sportsbooks are usually smart and they will charge more to do this, thus making it a bad strategy mathematically.
The same applies to buying an NFL underdog, for example from +2.5 to +3.5. It is not advisable in most cases.
Other betting strategies to keep in mind
There are other tips that you need to keep in mind to become a successful bettor.
You can follow a handicapper who is using proven betting system for sports.
However, you should be careful because there are scammers out there. They must show past records and proof of good track record.
Another betting strategy that has been used for a long time is to bet on home underdogs.
According this theory, the home underdogs are usually more inspired to play against the visiting team. In the past, betting on home underdogs may have guaranteed a win but not anymore.