Sports Betting is a worldwide phenomenon that continues to grow in popularity every year as players try their hand at predicting the outcomes of various sporting events. However, there is more to Sports Betting than just luck. The very best bettors spend time carefully planning their bets and putting in place strategies to increase their chances of winning. In this article we are going to explore the most effective strategies to increase your chances of winning next time you look to place a Bet. 

No matter whether you’re a veteran sports bettor or a newcomer to the hobby, this article will provide strategies that can improve anyone’s skills who are not already using said tactics. So read on to discover how you can become a better sports bettor today and potentially make money online.

The Basics Of Sports Betting

If you are new to the world of sports betting then it’s crucial that you at least learn the basics to how sports betting works. The first thing new bettors need to understand is how the odds work. There are three types of odds including: fractions, decimals and American odds. The two most common are fractional and odds. If you place £1 on an outcome with odds ¼ then you would earn £4 + £1 (your stake) = £5. The decimal odds for the same bet would be 5.00.

Then there are the different bet types you need to understand. The most common bets people place are moneyline bets (betting on the winner of a game), points spread bets (betting on an outcome by a certain margin), and over/under bets (betting on the total number of something within a game benign more or less than your predicted amount). 

Bookmakers are the companies you go to place the bets, they also set the odds. Your bankroll is the total amount of money you set aside for betting. Understanding the basics is essential for sports betting as going in blind can only lead to mistakes and naive bets, resulting in losses. 

Managing Your Bankroll

Managing your bankroll is one of two vital strategies to put in place when sports betting. Managing your bankroll is crucial to sports betting as, put simply, you can place bets if you don’t have any money left. Here we will go over some tips to manage your bankroll effectively.

Set A Budget

Before placing any bets it’s vital that you set a budget. A budget determines how much money you are allowing yourself to play with. By sticking to a budget you ensure your betting doesn’t affect your personal life and that you are also sticking to a reasonable amount. 

Avoid Chasing Losses

One of the biggest mistakes a bettor can make is chasing losses. Chasing losses is where instead of accepting the fact that your bet has failed and you are down, you decide to place more bets in order to attempt to recoup your losses. This is not only an irresponsible decision that can lead to more losses and a breaking of your budget but it is also a bad habit that can lead to gambling addictions later on. 

Unit System

The most successful bettors use what is known as the unit system. A unit system is a method of managing your bankroll which involves using a percentage of your budget on each wager. Typically those who use this system will only allow themself to place 1-5% of their budget on each bet. This allows them to place more bets and prevents players from losing the majority of their money in a smaller amount of bets. 

Find The Best Odds

Finding the best odds is important as it allows you to place bets which will reduce loss and maximise profits. Finding the best odds can be difficult using betting tools and softwares can be very helpful in finding the best odds quickly and efficiently. 

Research Your Bets

Research and analysis is very important in order to make informed bets. Researching your bets can lead to more successful bets. It is also very important to use data to make sure we are not wasting money on bets that have a very low chance of coming true. For example placing a bet on an injured player to score is a bet that will not come true and is a very easy bet to avoid with some research. In this section we will go over some tips on how to properly research your bets. 

Keep Up To Date With Sporting News

Staying up-to-date with the latest news in the sporting world is important for placing bets. This can include injuries, team news, form and much more. Keeping up-to-date with this information can be very helpful as it can allow you to filter out the bets not worth placing and leading to you spending your money more wisely. 

Analyse Team And Player Statistics

Analysing team and player statistics can give you valuable insights into their performances and potential outcomes of the game. These stats could include win-loss records, home/away records and more. 

Context Is Key

When analysing data it’s important to not focus on one stat and instead compare data to find out if it is valuable. One example of using data in context is Brighton under Graham Potter. Brighton in previous seasons were a team that created a very high xG. This would lead you to believing that they are a team that can score lots of goals however they were actually the opposite. They had a high xG but no clinical striker. As a result placing bets assuming they would score lots of goals based on this data would be naive due to the opposing data that was not considered. 

Summary

These are some strategies to use to ensure that your bets are well informed and that you don’t overspend while betting. We highly recommend you take these tips on board when betting alongside a reliable betting tool to maximise your profits when betting.

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