Every gambler wishes to make it big one day, but it takes experience to find that perfect sweet spot that nets the highest profit and to become the best there is.
In sports gambling, there are so many elements involved to help you out, depending on what game you wish to bet on, what players you have faith in, how you predict outcomes and more.
We have a few tips to offer recommended by some of the best in the business, and if you want to become the best, it never hurts to take some advice and learn about different betting strategies.
Why Take the Advice?
Many people who start gambling can get frustrated with how often they lose, but we should always be mindful that losing is part of the gambling experience.
No matter what kind of gambling you do online, there are always going to be misses before you get the hits. Most strategies are about figuring out ways to minimise the losses, and obviously the less you lose, the more money you will have overall.
The key strategies we will be discussing in this guide are:
- Banking
- Learning odds
- Analysing betting lines
- Hedging bets
- Public responses
- Specific sport bet types
Using bonuses can help improve your chances, too. Advanced strategies are good, but if you have a helpful boost from the bookmakers or casinos itself, then it makes the situation even better.
Most sports bookmaker sites offer significant sign-up bonuses for new members, usually in the form of free bets, while regular online slots offer 25 free spins to get more chances of winning.
However, always be sure to read the terms and conditions of such bonus bet offers to meet the requirements.
Managing Your Finances
This comes with the territory for most online gambling, and it is important to set yourself limits and not overspend on wasted bets.
The key is knowing that losing runs are inevitable, so you should always set aside a specific amount that allows you to sail through those losses to the next big win.
Do not spend more money if you have reached your limit without success - this is commonly called chasing losses and is a recipe for disappointment.
Gambling is no fun if you end up making yourself bankrupt in the process, so control your spending and think before betting.
Remember, those bettors who accrue the most profit tend to be those who think smart and who learn how to manage their bankroll.
Learning the Odds
Odds and statistics are how most sports betting books calculate your chances, using maths to help see if the bet is really worth it. The odds will present how much money will be paid out to you in correspondence with the probability of that outcome happening.
The easiest odds to figure out is the 50/50 coin toss. This means that there will be a 50% chance of the coin landing on heads or tails. If the odds are 30/1, this presents an unlikely probability, but with the risk comes a highly rewarding payout if it happens.
Find the Best Bet Lines
In sports betting, betting lines can be a series of bets that all take place during one game or a match. This can be on any competitive sport, and there will be different lines used with the same bet made on the match.
Let's say you have two teams in an upcoming match. You can either make a bet on one team or the other, and both teams will be on the same line - your job is to find out which line is preferable, ie most likely to happen and be a winning bet.
This can be from looking at the odds themselves, from your own knowledge and expertise, or through public opinion.
Fading the Public
As mentioned earlier, public opinion can be everything, and this is one of the more common betting strategies used to calculate the lines.
The gambler will look at which line has received the most bets, and from that information he or she can determine that if most people have placed bets on this option, then it must be the one more likely to win.
However, a common opinion doesn't make it 100% guaranteed to be correct. It could be argued that people chose this bet because of the hundreds of pieces of evidence, but it is always possible that all those people could still get it wrong, and that they may have just picked it because it was a trend.
Hedging Bets
Hedging a bet can offer you some more security if needed. This is when you bet against the original bet you placed, either to secure your gained profit or to minimise the losses you've already incurred.
By hedging, you can have most of the bases covered so that you could win no matter what the outcome. The key to hedging correctly is to keep the data in mind, as things can always change in an instant.
Predict where the tables are turning and make a decision before it is too late.
Creating Your Own Bet Lines
Many sports booking sites will offer their own bet lines for you to choose from. While this is safer, you can always make your bet line using your own data.
By pooling together collected odds from various matches or games, you can determine if the values are higher for yourself.
Say there is an upcoming tournament with a few matches happening at once. You can look at the odds of each match to see who is more likely to win the games, and once the higher ranks arrive, you can use that data from the previous matches to predict the probability of these upcoming ones.
Compile your data and make your own wagers from extensive observation.
Dutching
If you have a sufficient budget, it is possible to make multiple bets on the same game/match.
Dutching can help you cover multiple probabilities this way, such as a match win or a player scoring, and most of the time, this method is calculated to give yourself an equal profit. You will need to bet on multiple different sites for you to earn money through various sources.
Using the same betting site can result in fewer options for you to take.
While similar to Hedging bets, the difference is that you need to ensure the same outcomes for all options are taken. Here are some additional examples of sports that are best suited for the Dutch:
| Sport | Bets |
|---|---|
| Tennis | Player wins, scores, match outcome |
| Basketball | Player wins, which player scores, match outcome |
| American Football | Tackles, which player scores, yards travelled |
| Baseball | Number of outs, home runs, bases covered |
It is possible to use an online Dutching calculator to make these calculations, and while that is easier, it can be more comforting to keep track of your data yourself.
The downside is that there is still so much that needs to be remembered, so keep your own “sportsbook” with you and update it regularly.
This should help ensure that you do not lose track of all the information gathered and the bets you've placed.
Sign Up at the Best Sports Booking Sites
Almost all these strategies can be useless unless you have a legitimate sports betting site to choose from. You can find helpful recommendations online, including bookmaker reviews, top ten lists and more.
Some of them can even come with exclusive bonuses and special deals, so be sure to grab them before they expire.
In conclusion, these are only some of the best strategies out there to help out your sports gambling. There are loads of professional gamblers who can help you if you need it.
Be sure to take our own advice to heart and build up on your skills, and most importantly of all, gamble responsibly and smartly. Only then can you come out as a real winner.