Do a quick Google search, and you will be swamped by dozens of websites that will promise to equip you with sports betting strategies that will make you invincible. You’ve got statisticians, marketers, betting experts, strategy consultants, mathematicians, and a lot of others, each proclaiming to have hit upon the elusive success formula that can help you beat the odds and regularly rake in thousands in winnings, week after week. Are all these ‘experts’ worth following? Ask yourself, do you have the time and mind-space to do so? These strategies, tips, and tactics will help you maximize your winnings, stay safe and secure, and above all, enjoy your sports betting.
Keep an edge in whatever sports betting you do
There’s a reason why it’s called sports betting, and not sports gambling. That’s because you can have an edge in your adventures in sports betting, unlike gambling, where you are always operating at a disadvantage, or playing with very little edge. The thumb rule of making it big is – don’t do what everybody else is doing. As a beginner, it’s natural for you to align your interests with what the public opinion is. However, note that your dream of making sports betting a major contributor to your financial independence plan is contingent on you identifying your style, original way of thinking, and above all, not following the herd.
Money Management/Bankroll Management
When you are betting on sports you should always set aside a certain amount of money, which we refer to as your “bankroll”, in which you can afford to lose. Like with any type of gambling, you never want to bet betting on sports with money you cannot afford to lose. Set aside a certain amount of money that you can use for your bankroll for the week, the month, or the season. A general sports betting strategy for money management is to only make bets with 1%-5% of your bankroll.It is also very important that you do not chase your loses with bigger bets. It is common for some sports bettors to be down money and feel in order to win it back they need to increase the size of their bets. This is putting yourself in the wrong mindset and will often lead to you losing even more money. Work with the size of your bankroll, and look to slowly increase it over the length of the season.
Devise a Strategy, and Stick With It
Much like everything, sports betting is often overcomplicated. It’s too tempting to explain all kinds of outcomes with all kinds of theories. You’d do well to distance yourself from non-value adding analysis and theorization. Selection bias, model over fitting, and over optimization (among others) are cardinal sins of sports betting that can hurt your chances. Instead, be confident of your strategy, and give it time to yield results. Of course, you’d need to keep monitoring outcomes and doing course corrections, without significantly altering your core strategy. Do not fixate on numbers. A simple strategy backed by intuitive logic is you’re strongest asset.
Don’t Fall for Baits
Take it from here, you will never be too far from a sports betting website that will sell you a dummy. Always use trusted websites for gambling in sports, choose the best online sportsbooks. Some websites try to lure bettors by floating unrealistic bonuses and special promotions, only to cut them a shady deal later on. The thumb rule to remember is – background research. Before you decide to join a sports betting network, before you decide to follow an expert’s quick course in sports betting, do your homework, read reviews, look for demos. And choose the best gambling network for placing your bets.