Whenever you search the web for sports betting advice, you will usually find a list of articles that only covers the basics, like how to understand quotes and platforms where you can bet. Some of the resources will even cover some advanced betting strategies. Still, that information won’t help you improve your sports betting skills.
Thus, we decided to create a thorough list of 7 actionable betting advice that can be used for any sports, ranging from soccer to horse racing. We ensure that if you implement these tactics in your strategy, you will develop a reliable betting intuition and learn how to optimize your wagers for profitability.
Without further ado, let’s jump right into the content!
1. Start small and increase your bets progressively
Learning how to bet efficiently takes a long time. Of course, this depends on your ability to understand how to implement winning strategies in your gameplay. Still, even the best punters have a learning curve. Since your betting money is limited, you should avoid wagering too much on a single event, especially if you’re just getting started.
Based on our expertise, it’s best to start making bets ranging between $5 and $10. This way, you will reduce the risk of losing too much while learning the most efficient strategy. Our recommendation is to create a dedicated sports betting budget that you can afford to lose. Then, divide the amount by 100 and don’t wager any bets higher than this amount.
Even if you have an in-depth understanding of how sports betting works, you should still start with small bets and progressively increase them as you learn new tactics that can improve your odds. The more you play, the better the chances of developing a winning strategy.
2. Set realistic objectives
Anyone that holds knowledge about a sport can make highly accurate predictions from time to time.
But that’s not enough to win consistently!
There is a massive difference between winning a few wagers because you were lucky and becoming profitable. According to sportsbooks statistics found online, only a small percentage of punters make money in the long run.
You need to understand that most bettors lose money, especially those that are just getting started. Thus, it would be best if you didn’t only rely on your knowledge when attempting to beat the bookmakers. This is a colossal mistake that only helps the betting platform make more money.
Instead, it would help if you focused on expanding your knowledge beyond sports, learn how to calculate odds, and set a realistic goal. This way, you will be able to progressively increase your win ratio and get better at wagering on sports over time.
3. Choose a sportsbook recommended by specialty websites
With such a wide variety of betting platforms available online, it has become increasingly difficult to differentiate the good sportsbooks from the bad ones.
Luckily, we have a simple solution for you!
You can navigate to specialty websites like Casinobonusca that offer you access to an extensive database of legit gaming platforms regulated by top-rated authorities. They are responsible for filtering out the rogue platforms and offering you honest, in-depth reviews of the best sports betting sites you can join.
On top of that, you will be able to grab special promotions that can increase your balance, allowing you to place more bets, extending your playtime, and odds of finding a winning strategy.
4. Consider the home team bias
On average, the home team wins more often than the visiting team. The exact ratio varies from sport to sport, but you will notice that this pattern applies to all of them. Because many bettors see the home team winning more often, they might be influenced by what is commonly known as “the home team bias.”
Essentially, punters give too much credit to the home team when placing their wagers. Of course, we’re not saying to ignore the home team's increased winning chance completely, but you can’t solely rely on this fact in your final decision.
The home team bias is what differentiates amateur bettors from professional ones. Thus, you should carefully analyze all the relevant data before you factor in the home team element in your betting strategy, without going too far the other way.
5. Avoid betting on your favorite team
From our experience, many sports fans started their betting journey by placing a wager on an event that involved their favorite team. While there is nothing wrong with betting on your favorite team, this won’t bring you good returns in the long run.
If your goal is to profit from sports betting, you should view the sporting events in an unbiased way. We know how difficult it is to be neutral when your favorite team is playing, so we suggest entirely removing it from your betting slip.
You can still bet on your favorite team if you wish, but remember that biased players will lose a lot of money in the long run, because as a fan, it is tough to bet against your team.
6. Look for sports that are harder to fix
Most beginners don’t think about the possibility of a fixed game, but it indeed happens from time to time. You should always be aware of the possibility that the result is predetermined, so you can avoid losing money on events that are not worth your time.
As a rule of thumb, you should avoid wagering on individual sports like golf or tennis. That’s because they are easier to fix than team sports, where there are more people involved. However, even big competitions like the NBA or the NFL have been subject to game-fixing in the past.
Therefore you can never be sure that a game is 100% legit unless you have advanced knowledge of the industry, which can be achieved over time.
7. Keep track of your profit and losses
If you want to be successful as a sports bettor, you have to start viewing it as a business rather than a hobby. But how?
As you may know, businesses have a budget, learn from their past mistakes, keep track of their results, and use the information to make better decisions. These are the exact qualities of a professional bettor.
There are very few newbies that keep records of their bets, which makes it hard to keep track of their spendings, meaning that they will never stick to a budget. On top of that, keeping records helps you identify mistakes and find ways to fix them.
Keeping track of your budget is crucial for long-term success, so there is no excuse for not doing so. Suppose you haven’t got time to keep a detailed record. In that case, you can still analyze your performance by writing down the following information:
- Team selection;
- Odds of the selection;
- Bet amount;
- Result of the wager;
- Payout gained (if you won)
The bottom line
New bettors might find it hard to become profitable from wagering on sports. Still, using the seven pieces of advice mentioned in this article will surely bring you better overall results. Remember that having a budget is essential since you can bet on more events without overspending.
Once you’ve mastered the basics, you will immediately start noticing the improvements. Persistence is key, so even if you lose at first, you should keep betting small until you find a winning strategy that will bring you profitable returns in the long run.