Are you tired of betting on sports, only to lose out when the matches end? If you are in this position, you’d want a sports betting strategy that will give you great value for cash.
Sports betting is increasingly becoming a source of income, frustration, and even regrets to many. The only way to enjoy it as a hobby is to learn how to bet on sports and win.
The fact is, many people lose money due to reasons that are out of their control. Some fail to place wagers for wrong reasons, while others have poor bankroll strategies. Though these mistakes are easy to make, they are avoidable.
It’s time to maximize your earning potential with sports betting. Learn everything about placing bets, the key terms/details, and tools for making informed bets here:
Learn More About Money Lines and Point Spreads
Bookmakers associate each team with a plus or minus number in a particular match. When you place a wager on the plus or minus number (the money line), you’ll be picking a side to win.
The team associated with a plus number is usually the underdog. On the other hand, the one associated with a minus number is the favored team. Most bookmakers allow you to bet on money lines for different sports.
With point spreads, you’ll bet on whether a team will win by a particular amount. Point spread betting is common in games with large gaps in the final match scores. As with money lines, the team with a plus number is the underdog, while the minus is the favorite.
Identify Your Strengths and Weaknesses
Successful bettors understand the value of tracking their progress. You have to identify your strengths and weaknesses to improve your chances of winning big. Start monitoring your bets on almost every sport and carefully review your wins and losses.
This strategy will help you determine the kind of sports leagues you are more successful at betting on. You’ll also figure out whether you excel at money line or point spread betting.
Once you focus your money on the best sports to bet on, you may record an increase in income. It’ll also be easier to reduce losses and focus more time on improving your sports betting skills.
Create Accounts with at Least Three Sportsbooks
You need an account with at least one sportsbook to place bets. Open a maximum of three sports betting accounts that you can use to compare offerings. Some online sports gambling sites give signup bonuses to new members as an incentive.
Often, bookmarkers don’t differ a lot in terms of the betting lines. However, you’ll notice slight differences in the odds depending on where the sports betting site stands on their bets.
Note that things may start getting more complicated once you have multiple sports betting accounts.
You need to track your account balances, overall bankroll, wins, and losses to keep them organized. Use some form or ledger or notebook to record this information to know where your overall betting performance stands.
Know How Much to Bet
Decide on how much you can risk on each game before placing bets. The general rule is to risk an amount you can afford to lose to avoid running into debt or financial issues.
The flat-betting approach would be ideal for every first-timer in sports betting. With this approach, you’ll be betting the same amount on every match and risk up to 5 percent of your disposable income per play. For instance, if your disposable income is $100, spend not more than $5 on a game.
Open a betting bank account to organize your betting funds. Invest enough cash to cover your betting bankroll for a whole season/year instead of a single match. Maintain a minimum amount in the account at all times to avoid withdrawing cash from other accounts for betting.
Come Up with a Betting Schedule
Sports betting discipline and patience are key to any profitable betting strategy. Patience allows you to appreciate the ins and outs of a game and learn more about your favorite sports. Take time to look at the form of the rival teams and watch their previous games.
Resist the urge to bet on every game, each week to avoid hurting your bankroll. Look at all upcoming matches and choose the ones you can confidently bet on.
Don’t hesitate to walk away from any bet before the actual match begins. Lines, point spreads, and odds are subject to change so should your betting choices.
Shop for the Best Lines
Since bookmarkers have different clienteles, lines vary based on the bookmarkers. With access to multiple sportsbooks, you can shop for profitable lines. Though an extra half-point may not be a big deal, it may add up in the long run and double your winning chances.
Shop for lines an hour before a game to get the best value. Familiarize yourself with consensus odds, which sportsbooks offer to compare lines in a concise and organized way. Sportsbooks also update these odds for games as soon as they are available.
Place bets based on logic rather than emotions and be prepared for any outcomes. You can bet on the underdog even when the favorite is a popular option to improve your winning chances.
As you stay impartial with your bets, take advantage of incentives and bonuses offered by sportsbooks. Use free bets where you can to reduce risks and improve winning odds.
Placing a lot of money on your favorite team may hurt your bankroll in the long run. Stick to your betting budget and take time off when betting seems to take a mental toll on you.
Stay away from attention-grabbing events like derby games, even when your favorite team is playing. That’s because the excitement that comes with these events may trigger impulsive spending.
Know You Know How to Bet on Sports and Win
Sports betting can be a lucrative income source for you when done right. Use these tips on how to bet on sports and win. The goal here is to bet an amount you can afford to lose.
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