Making money from sports betting is not easy—it can be tough! But there are a lot of sports bettors who consistently win, and there are also many professional bettors that make a good living off of it. This article will provide strategies and tips that can help improve your chances in betting.
In order to make money from sports betting, there are a couple of basic strategies and tips that you need to know and follow. The strategies and tips shared below are hardly any secret, but you’ll be able to win money betting on sports when you follow them. Check them out below.
When you bet on sports, it’s always important to set aside a certain amount of money. This money will be referred to as the “bankroll”, and this money will be something that you can afford to lose. As with any type of gambling, you should never bet on sports with money you cannot afford to lose. Always reserve a certain amount of money you can use for your bankroll for the week, month, or the season. The most common betting strategy for bankroll management is to only make bets from 1% to 5% of your bankroll. For example, if you set aside $1,000 as your bankroll for the NFL season, this would mean you’re making $10-$50 bets on each NFL game you want to bet on.
In addition, it’s important not to chase your losses with bigger bets. Some sports bettors are usually short on money and they feel that in order to win it back, they need to increase the size of their bets. This is the wrong kind of mindset to have, and you will usually end up losing even more money. Only bet according to the size of your bankroll. Then, try to slowly increase it over the length of the season.
While it might seem like common sense to bet only when you’re sober, there are actually a lot of people who bet on sports while intoxicated. Betting while you’re under the influence of alcohol will affect your judgement and you should definitely avoid it if you want to win when sports betting.
When you let your emotions take over, you often end up making bad decisions. If you are angry or upset at something, like a bad beat with your sports bet, you should refrain from placing any more bets. Instead of betting, take a break, go for a walk, or just take a breather and clear your mind before you start placing bets
Doing your homework is probably the most important sports betting strategy there is. While going with your hunch when placing your bets might work sometimes, in the long run it will not help you win money. In order to win money from sports betting, you need to study, do your homework and spend time researching each pick you make. Check the stats, observe the trends, analyze past games, evaluate sports betting systems—do everything you can to make sure your pick has value before you place that wager.
One important step to becoming a winning sports bettor is to shop for the best lines. What does this mean? Basically you have to create an account at a couple of different online sportsbooks and once you’re ready to place a bet on a particular team or outcome, you can check the different sportsbooks and find out which one offers the best line for you.
Try to avoid falling into “square” tendencies like buying favorites down or underdogs up. For instance, a lot of bettors always feel that they need to buy an NFL favorite of -3.4 down to -2.5. Sportsbooks are smart enough to charge more to do this, but mathematically speaking it is a bad strategy. The same thing can be said when buying an NFL underdog from +2.5 to +3.5.