5Ways to Win at Betting
Sports Betting is, by its very nature, a risky way to fill your time or even to try and earn money. However, when done sensibly, it can also be a fun and exciting addition to watching sport.
How do you make the most of your bet? What’s the best way to get around the bookies’ tricks that try and pull you through their doors?
It’s all about finding the best value for money. Whether that’s the right odds, the right markets or even the best time to put your bet on, follow these tips, and you’ll be well on your way to becoming a more profitable punter.
1. Controlling your bankroll – ways to win at betting
You can be the best bettor on the planet, but without sound money management, you will be doomed to stay in the poor house.
Over the long run, sports bettors will experience long losing streaks as well as long winning streaks.
If you maintain a level-headed approach during these turbulent times, you will be much more likely to succeed.
Those who suffer from chasing losses or overconfidence during winning streaks set themselves up for disaster.
Take emotion out of it and bet sensibly with a simple bankroll management strategy like this.
2 Don’t go for the longshot – Ways to Win at Betting
Don’t just go for the longshot bet because you’re desperate for the cash.
As has been proven in the past particularly in this PinnacleSports article that punters like to favour the long shot, so Bookies tend to load the underdog’s odds with a higher margin than the favourite.
A bet can still be a value bet if the odds are 1.01 so don’t listen to that adage that you can’t back ‘odds-on’ to be a successful punter. It’s utter nonsense.
3 Niche Markets – Ways to Win at Betting
You are going have a tough time if you’re trying to beat the NFL points spread market or Premier League Win-Draw-Win markets.
These markets that attract many bettors are highly efficient and challenging to make money on over the long term.
The more people that bet into a market the more efficient it will be and the likelihood of exploiting value will be lessened.
Instead, you want to concentrate on smaller events that attract far less eye’s.
Let’s say for example you build up your knowledge on Norwegian 2nd division Football to the level that you consider yourself an expert.
You will now be more equipped to exploit value in these markets as value bets to your now trained eye will be a lot more obvious.
4. The right odds – Ways to Win at Betting
This is one of the most natural tips to follow. Comparing odds is very simple, and takes just a few moments whenever you’re placing a bet.
Since bookmakers and betting sites don’t all offer the same odds, by shopping around a little for each bet, you can make sure that you get the best possible deal for every bet you place.
The differences in the odds are usually quite small, but they add up over time.
To demonstrate this, here’s a list of the odds available from three random betting sites on an upcoming Tennis match.
Let’s say we wanted to back Zverev here, for £10.
- We take the odds available at William Hill and stand to win £50.
- If we took the odds available at Unibet, we’d stand to win £57.50.
- We take the odds available at Betfair, we’d stand to win £47.50. That’s a difference of £10 between the worst odds and the best.
Not a massive amount by any means, but still these small gains will add up over time. Don’t shortchange yourself taking bad odds when better ones are available.
5 Understand the concept of value – Ways to Win at Betting
Value is a word that gets used a lot in relation to sports betting, but it’s something that many bettors don’t understand.
The concept is reasonably straightforward, as value just measures the relationship between the odds of a selection and the probability of the associated outcome happening.
When the odds are higher than they technically “should” be based on the relevant probability, a selection is said to have positive expected value (+EV).
Successful sports betting is all about trying to find positive expected value.
If your goal is to make money through sports betting, then it’s vital to correctly understand the concept of value.
In theory, you should only ever place bets after identifying positive expected value. This is ultimately the only way to make a profit in the long run.
What are the best Betting Books? See out list