Given the inherent excitement of both sports and betting, it is little wonder that the two go hand and hand, with betting on sports now booming around the globe. One way to improve upon this excitement is of course to turn turning sports betting in your favour by making a profit from your betting
An exact winning approach will vary across sports, and across different individual’s areas of expertise, but here we outline what we consider to be five of the most important general pointers to enable the punter to win when sports betting.
Set Aside A Betting Bank and Keep A Record
As soon as your participation in sports betting ventures beyond a passing entertainment to add to the excitement of a contest, and more into the realms of a serious effort to turn your interest into a profit, it becomes all the more important to keep track of exactly how you are doing.
One major factor in being able to do his is to set aside a sum of money to be used as a betting bank. This has the dual effect of focussing the mind upon the task at hand i.e. sports betting success, whilst also negating the effect of any ups and downs upon your everyday finances.
Clearly, seeing this betting bank either grow or shrink will give you a pretty good idea as to how you are doing overall, but it is nevertheless beneficial to keep a record of all your bets to see exactly where and how you are gaining or squandering money. Keeping records will allow you to quickly spot any winning or losing trends in your betting history and thus enable you to adjust your strategy accordingly.
Get Your Stakes Right
There are many approaches to this subject, but overall the aim of a good staking strategy should be to both protect your betting bank, whilst also looking to maximise your potential profit.
One commonly used example is the points system. In this instance the betting bank is said to be worth 100 points for example, with bets being assigned a 1, 2 or 3 point status, depending either upon the price of the selection, or the level of confidence behind the bet.
The points system has the advantage of possibly lessening the ups and downs, by staking less on the bigger priced selections for which the losing runs may be significant and more on the shorter priced bets.
You may be happy to use this point system continuously, with the value of a point set at its original level; or should your betting bank grow to a certain size you may decide to increase this point value in an effort to further boost your profits.
Clearly the exact approach to this will vary from individual to individual depending on their particular betting strategy. An odds-on tennis punter for instance would be sensible to risk a greater % of their betting bank per selection than a bettor who specialises in long odds horses.
One additional benefit of having a set staking pattern in place is the further installation of discipline in your betting system. By having a predetermined staking strategy, ruinous behaviours such as doubling down or chasing should be that much easier to avoid.
Narrow Your Focus and Do Your Homework
With the multitude of sports and corresponding betting opportunities now available, this can be one of the most difficult steps to adhere to. Particularly so for the avid sports fan. However, winning in one discipline when betting on sports can be difficult enough, and the more strings to your bow you add i.e. the more sports that you bet on the more difficult it can become to forge ahead and into profit.
At least in the beginning, stick to the sport you know best and follow most closely. Watch and read as much as you can, in order to enable the shaping of your own opinion regarding the chances of the participants as accurately as possible.
Taking this step even further, it can often pay dividends to narrow your focus further still by focussing on a certain branch within your chosen sport. Betting on football? Concentrate solely on the Premier League or La Liga for example.
With over 14000 horses in training in the UK, this zoning in is almost a pre-requisite for success when betting on horse racing. The best advice here is to focus on the type of race or races that interest you the most, giving you a narrower group with which to work.
Whichever sport you decide upon, it really is important to keep as up to date as possible and do your homework. You can be sure the odds-compilers will be doing theirs!
The punter does have one thing on his side though. Whereas the odds compilers are obliged to price up each and every event, the punter can choose exactly when and where he steps into battle.
Keep Value In Mind
Remember when betting, that whilst the picking of winners is undoubtedly important, it is really only half the battle. The real aim of the game is to determine, not only what you think the outcome will be, but also whether or not the odds on offer accurately reflect the chances of this outcome.
For some the scientific approach works best here, with many punters setting up spreadsheets to help them determine their own prices for an event, using ratings systems in football or speed figures in horse racing for example. This barrage of numbers is not for everyone, but it still pays to have an idea of what you think a price should be before looking at the odds on offer. Ask yourself first what you think the result will be, quickly followed by how likely this outcome is and correspondingly what a fair price would be.
It can be disappointing to carefully reach a conclusion about a sporting event or horse race, only to then find that the market has reached the exact same conclusion. However, don’t get drawn into betting on something which is a shorter price than you had hoped for. Remember with sports and betting, there is always another opportunity just around the corner.
Get The Best Price
The selection process is of course important, but of at least equal significance is putting in the additional effort to ensure you obtain the best price about your selection. The difference between 15/8 (2.875) and 2/1 (3.0) may not appear to be much at first glance.