Every sports fan believes they are an expert in their field. They live and breathe their team, are always up-to-date with the latest injury news and transfer gossip, and think they can make some money from sports betting as a result.
Betting on sports is exciting and can be lucrative if you approach it in the correct manner. You need to beat the bookmakers at their own game to turn a profit. Bookies have been in the business for as long as sports have existed, so outwitting them is not easy, although it is possible if you are prepared to put the work in before placing your bets.
Choose The Right Bookie For You
Start by choosing a top online sportsbook to place your wagers. There are literally hundreds of bookies online, and each has its positives and negatives. We recommend you create an account at Betway or a company that has a similar standing in the betting community.
Choosing a bookie that is trusted and reputable is vitally important. You are investing your time and money with the bookmaker. You need to trust them to look after your data, your money, in addition to being fair. There are many unscrupulous outfits on the internet; go with one of the big guys who are licensed and regulated.
Do Your Research
Bookies employ teams of researchers who go through almost every betting market with a fine-toothed comb. They look for every possible edge for their employer. You will struggle to consistently make money if you do not do your own research.
There is a plethora of information available to sports bettors these days. Horse racing fans used to rely on only the form guide and their records. Now they can jump online and find a wealth of information, including who the horse’s parents and grandparents are!
Use recent form as a guide for the majority of sports betting markets, but delve deeper. Investigate injury lists, visit fan forums and see who they think is performing or underperforming; nobody knows a team like its own fans.
Protect and Grow Your Bankroll
Your betting bankroll is your arsenal, the ammunition to battle with the bookie. Protect it as much as possible if you want to be a profitable sports bettor. It is impossible to make any money if you do not have money to bet with. That sounds obvious, but you would be surprised to see how many punters throw caution to the wind and gamble with their entire available balances.
Aim to bet no more than two per cent of your bankroll on one specific outcome. For example, do not bet more than $4 if you want to bet on the outcome of an NHL game and have a $200 bankroll. Betting two per cent of your available funds means you can make 50 losing bets before you go broke. Furthermore, your bet sizes will increase as your bankroll grows and decrease if it shrinks, making you more money or keeping you in the game longer.
Specialize In One or Two Sports / Markets
It pays to keep things simple and to specialize in one sport or one betting market associated with that sport. Doing this makes it easier to research your bets thoroughly. For example, focus your attention on the over 2.5 goals market in soccer games or the first-half results in the NFL. Become an expert in one area rather than being someone knowledgeable across four or five.
Keep Your Emotions In Check
Always bet with your head and never with your heart. So much money has been lost over the years because people bet impulsively without putting the necessary thought into their decision making. Always bet for a legitimate reason, not just because you can.
Likewise, try avoiding betting in games involving your team. While it is true you know them better than anyone else, you will often view matters through rose-tinted spectacles, leading to you thinking they are better than they are.