Improving your sports betting strategy is essential for increasing your chances of success and long-term profitability. Whether you’re a beginner or an experienced bettor, these key tips will help you refine your approach and make more informed decisions when placing wagers.
Do You Really Need A Sports Betting Strategy?
Long story short: yes.
Having a sure sports betting strategy will help you move and decide with intention in your betting decisions. Having a strategy will also keep those pesky bookies from taking advantage of you! You’ll also be less likely to fall into common pitfalls like chasing your losses, only betting on your favorite teams, and failing to diversify your bets.
But how exactly do you even start crafting a betting strategy, especially if you’re someone who’s just starting out as a bettor? Let’s go through each key tip one by one.
Do Your Research
Trust us, this isn’t a step you will want to skip. This isn’t your 5th grade biology quiz—it’s your money, and you’ll want to be as informed as you want to be when you step into that betting pool.
Like with many things, the foundation of any solid betting strategy is knowledge. Gather as much info on the teams, players, and their recent performances.
Before placing any bets, thoroughly research the sport, teams, players, and recent form. Stay updated with news and developments that may impact the outcome of the event. In-depth knowledge will give your betting strategy a competitive edge when making betting decisions.
Your preparation will pay off in spades if your betting strategy is based on making informed choices and cashing in on those winning wagers.
Mind Your Bankroll
In sports betting, a bankroll is the set amount of money that you plan to bet with. Ergo, it’s all the money you can afford to lose. However, just because you can afford to lose it doesn’t mean you should.
Before going in on any bettor’s pool, set a budget and stick to it. Having a consistent and disciplined approach to bankroll management is key to having a reliable betting strategy A common guideline is to bet only a small percentage (e.g., 1-5%) of your total bankroll on each individual wager.
To paint you a picture, let’s say your total bankroll is $1,000. For your betting strategy, you only want to bet 2% of that for each wager.
2% of $1,000 = 0.02 x 1000 = $20
So, with a $1,000 bankroll, you would place bets of $20 on each event you decide to wager on. This betting strategy ensures that you don’t overexpose yourself to potential losses and helps protect your bankroll during both winning and losing streaks.
As your bankroll grows or decreases, the bet size will adjust accordingly to maintain the 2% proportion.
Remember: especially when the going gets tough, never ever start chasing your losses. Rookies might think that increasing their bet size to make up for their losing streak will help them win back some of their losses.
But make no mistake, this isn’t just a bad strategy, it’s no betting strategy at all!
When you have a good betting strategy, that means you stick to your budget and your bankroll. No ifs and buts there.
Avoid Emotional Betting
Emotions can cloud judgment and lead to irrational betting decisions. When it comes to sports betting, emotions can be your worst enemy.
If you already have a good betting strategy, avoid making impulsive bets based on personal biases and gut feelings—especially those brought about by losing (or winning) streaks! Stay objective and avoid betting on your favorite team or against your least favorite team solely based on emotions.
Lastly, a clear head is vital to your sports betting strategy. After all, that’s the only way you can come up with one in the first place. Rule of thumb is that if your head’s not clear while you’re in the betting pool, then you have no business placing any more bets.
Betting with your heart can lead to costly losses. Instead, rely on research, statistics, and cold, hard facts to drive your decisions. Stay cool, calm, and collected, and soon enough, it’ll be profits you’ll be collecting next!
Find a Reliable Tipping Service
If you’re gonna have a betting strategy, it won’t hurt to have a little advice now and then. That’s what tipping is for.
A tipping service is a trusted source that offers expert predictions and recommendations for sports betting. It provides valuable insights and helps bettors make more informed decisions, increasing their chances of winning.
The best kind of tips are those that are based on hard data, and not just guesswork. And when you’re planning to place your bet on a big game, you already know which one you’ll want your sports betting strategy to be based on.
Understand the Odds
Higher odds may mean bigger rewards, but it’s not always the winning ticket.
While you’re planning your next sports betting strategy, don’t forget to analyse the implied probabilities to spot value bets with higher chances of success.
This means going back to the books (not the bookies!) and familiarising yourself with different odds formats (decimal, fractional, and moneyline) and learning how to calculate potential payouts.
Understanding odds allows you to assess the implied probabilities and identify value bets. With odds in your favor, you’ll elevate your betting game and unlock the path to more profitable wins.
Speaking of value bets…
Focus on Value Betting
When you’re crafting your betting strategy, you’ll want to go where the money is, and money is wherever you find an edge over the bookies. This is where you’ll need to combine your knowledge in betting odds and all that research on the big game you’ve gathered.
Value betting involves identifying bets where the odds offered by the bookmaker are higher than the probability of the event occurring. When you’re able to spot this, that means you have an edge over the bookies.
By focusing on value, you seek to uncover favorable opportunities and capitalise on them. Value bets may not always result in immediate wins, but as a legit betting strategy, they offer the best chance of profitability.
Emphasizing value betting allows you to make smarter, more calculated decisions, ultimately leading to a more successful and rewarding sports betting experience.
When plotting your next betting strategy, make sure to look for bets where the odds offered by the bookmaker are higher than your calculated probability of the outcome occurring.
Remember, successful sports betting requires continuous learning and refinement of your strategy. By incorporating these key tips into your approach, you can increase your chances of making profitable and informed betting decisions over time.
Ready to take your sports betting to the next level? Sign up for Edge Alerter today and gain access to real-time alerts and expert tips using cold hard data brought to you by our state-of-the-art algorithm!