The UK has seen a vast increase in the number of punters, thanks in no small part to a legal environment that is conducive to placing wagers, with the UKGC watching over punters and monitoring bookies. Moreover, punters have access to tons of bookies operating through the best betting websites in the industry, ensuring they can enjoy competitive odds from reputable operators.
To add a cherry on top, betting is a strategic investment that allows punters to grow their skills and improve their winning streaks over time.
So, how can you boost your current performance? We have the top tips for punters at all levels.
How to Bet at the Top of Your Game
Have you ever wondered how some punters are able to turn their betting into a career? Well, excelling in this industry is not about coming up with complex strategies. As you would with most investments, the key is to focus on the simple things that have the most effects. Which are they?
1. Focus on one sport.
Specialisation allows you to learn enough about a sport to make calculated informed decisions. For example, if you are a football fan, focusing on this sport allows you to understand all there is to it, from the leagues to the match formats to the factors that affect performance. It will be much easier for you to look at a change in the team or its management and know how it could affect the team’s odds. But without such focus, it’s easy to overlook such details and miss out on the best betting value.
2. Learn how to calculate probability.
Many punters make the mistake of using odds to determine probability. For example, if team A has odds of 1.50 and B has odds of 3.50, they assume that A has the upper hand. But that is not always the case. Odds are not a measure of just probability, but rather account for and include a bookie’s cut as well as the public perception, and as such, they can be misleading. Use odds to calculate the value of a paid wager, but when it comes to probability, do your own research to determine if a team actually has a good chance of winning.
3. Rely on a good bookie.
There is a lot to consider when choosing the right bookie for your wagers. First of all, you should choose an operator with a valid licence from a licensor you can trust - UKGC is a great example of a trustworthy licensor. Secondly, you want a bookie that covers the sport you wish to wager on - the bigger the coverage, the better for you. Thirdly, you want competitive odds that give you value for your money such that you can turn a good profit for every correct prediction. With these out of the way, you can focus on factors such as payment options, customer support, user interface, and security measures.
4. Have a spending limit.
You must spend money to make money, right? While this is true, there is no reason to spend money without capping it. Betting, even objectively, has no guarantees, which means that each time you place a wager, you are taking a risk. It is thus advisable to start by coming up with a budget on how much you will spend on betting each month. But setting a budget is not enough on its own. You must also ensure you do not chase losses by investing more money to try and recoup what you have lost. At the same time, you must determine how you will use your profits and what percentage goes back to your betting funds. With all these considerations, you can have a solid plan that can protect your finances in the long run.
5. Practise emotional regulation.
While you may aim to be objective with your bets, you are after all a human being. It is therefore reasonable that you will be subject to emotions, e.g., rooting for a team you support even when it has a low winning probability or not backing a rival team when it has the upper hand. So, how can you separate your emotions from your business? One option is to completely avoid placing wagers on matches where you are clearly not objective. Another option is to work with the facts and avoid subjectivity when dealing with matches where you have vested interests. It also helps to have outlets beyond wagers - consider taking up hobbies to unwind and clear your mind.
6. Maintain consistency.
You must remain committed to learning at every stage. It is important to dedicate time to researching your preferred sport, looking up the upcoming matches, figuring out how changes will play a role in the overall outcome, wagering what you can afford, learning from your mistakes, and re-investing some of your profits.