Learning the top 6 tips on how to make money in sports betting is essential for sports bettors. The majority of those who want to bet on sports are already fans.
It is not uncommon for a sports fan or a professional bettor to place a bet during big games like the World Cup, Super Bowl, or NCAA basketball Final Four, but for the most part, sports bettors are sports fans looking to earn a little extra cash by using their knowledge of a game.
To break even in sports betting, one must win 52.4% of their bets. The most successful “experts” usually win less than 60% of the time.
When it comes to sports betting, there is no way to guarantee 100%Â success. However, there are some things you can do to improve your chances of success. We don’t think any of these strategies are overly complicated, and many are simple ways to boost your long-term profitability.
In this article, we will go over several different strategies for increasing your chances of making money when betting on sports.
1. Set a Budget (Bankroll) And Stick To it.
If you want to take sports betting seriously, think of it as an investment. Set aside some money and decide on a “unit size.” This is to ensure that all of your plays are consistent. On a per-play basis, I’d recommend using anywhere from 1-2% of your bankroll. Consistently betting this amount allows for variance to play out without going bankrupt. Even strong bettors who hit 55%+ of their plays would go bankrupt if they bet 10% of their bankroll.
2. Pick One Sport And Stick To it
There are so many sports to choose from, and it is difficult to keep up with them all. The best thing you can do is concentrate on one sport. You can play NFL, Soccer, Basketball, Tennis, or whatever you want, but just stick to one sport.
Sticking to one sport allows you to focus on the most recent events, statistics, trends, and so on. In a nutshell, limiting your betting strategy to a single sport will benefit you greatly in the long run. List of sports that you can choose from here
3. Do Your Research Before Betting
It goes without saying that the more time one spends researching before betting, the more likely they will be successful. There are numerous methods for conducting adequate research. One can look up weather forecasts or stay up to date on injury news. Things like how a team is currently playing or previous performances against an opponent should also be considered. If you want to beat the bookies then you have to do lots of research and stay ahead of latest statistics and trends.
4. Track Your Winning and Losing Bets
Start your own excel spreadsheet or use one of the apps available to track your bets. This not only keeps you honest, but it can also aid in self-evaluation. After a long period of betting, you can look back and see which types of bets were the most profitable (player props vs spreads vs totals vs both teams score vs under/over 2.5 etc).
5. Don’t Chase Your Losing bets
This is the practice of placing additional bets in an effort to make up for losses from earlier wagers. This is risky because many people will put their good judgment aside and place more risky bets in an effort to win back their losses, which leads to further losses.
6. Stay Disciplined
It may sound ridiculous, but just because a game is on TV doesn’t mean you have to bet on it. Only when there is value do professional bettors and those looking to maximize their long-term profit place a bet. You must stick to your betting strategy of you want to make money sports betting.
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