Placing uneducated bets is not an effective sports betting strategy. You also should avoid putting down money based on how much you love a team. Long time fans may find it difficult to bet against their beloved team, no matter what the odds are. To be a profitable gambler, you need to employ a smart betting strategy that helps you win against the house.
Handicapping Is Key
Finding out as much as you can about all opponents in a particular sporting event is one of the best strategies to use. Knowledge is power in the arena of sports betting. In the modern age of the internet, most handicapping can be done with a few strokes of the keyboard. Use reputable handicapping websites with good track records to collect data on a sporting event before you place a bet. Review the picks of the handicappers, betting trends and stats for each opponent. Stay abreast of any adjustments to the event that could affect the outcome such as injuries and line-up changes.
Follow the Odds
Never make your bets based on the first set of odds released for a sporting competition. As the event draws nearer, the odds are likely to change. Odds can fluctuate until right up to the start of the game based on betting trends and any roster changes for the team. Placing your bet at the right time can increase your chances of winning. It is typically most profitable to make bets on favorites as early as possible while saving the wagering on underdogs for a late bet. Check odds of games from more than one sportsbooks since they’re likely use different oddsmakers. Bet with the gaming company that offers up the best odds for the match. Even a point spread with only a one point difference can factor largely in whether you win or lose a wager. However, make sure the website is trusted and uses security measures to keep your financial information confidential.
One of the most essential rules of sports betting is to know how to manage your money. Before deciding on your bankroll, you must decide on a figure that you’re able to afford to lose. To be profitable, don’t base your bets on whether you win or lose. Stick to the bankroll you set before any of the outcomes. Spread your bankroll to make multiple bets instead of risking all of your cash on a single game. If you lose your bankroll on your first game, you’re more likely to chase your losses and gamble away more money than you allocated. No matter how good a team looks or how many handicappers guarantee a win, anything can happen during game play and you could be out a significant amount of money quickly.
Your bankroll for sports betting should be broken down into smaller wagers. As a general rule, select a certain amount of money to gamble with for a set amount of time such as the month or the entire season. Use two to five percent of the total bankroll for each wager you make. For instance, if your bank roll is $2000 for the season, each wager should be approximately $40 to $200. Do not change the percentage of your bets throughout the season no matter how well you’re doing. Increasing your bets may deplete your bankroll quickly if you suffer a series of losses. Also, decreasing your bets could prevent you from winning a higher purse if you had kept your wages at the same amount.
Be Cautious With the Promise of Huge Payouts
The idea of putting a small amount of money towards a parlay bet with the chance to win a huge jackpot may be appealing. However, a single loss results in losing your bet altogether. If you are putting down a small amount of money towards a parlay bet with a payout of a few thousands of dollars, chances are the odds are in the favor of the house and you’d be better off putting your money elsewhere.
Home Field Advantage
In some match-ups there may seem to be no clear winner. All stats and past records give both teams the possibility to win the contest. In this case, always put your money on the home team. Teams typically want to please their fans and play much better on their own turf. Home underdogs can prove especially profitable to bettors since they are less likely to lose on the road.
Bet With a Clear Head
Bets can prove disastrous if you are making your decisions based on your emotions. If you can’t bet against your favorite teams, avoid making wagers on match-ups where they’re competing. Also, take a break if you’re upset or angry about a loss. When you’re emotional over a loss, you may end up making a bad wagering decision. Once you feel even keeled, you can resume making your selections.
Betting on sports when you’re drinking is not a good strategy for someone who wants to win. Drinking impairs your judgment and affects your ability to make smart wagering choices. Avoid the free drinks at casinos when betting on sports and don’t drink alcohol at home when you’re selecting your bets online.
Keep in Your Comfort Zone
Even if you are having a winning streak, don’t begin using the money to bet on contests with unbeatable odds or that you aren’t very knowledgeable about. Also, avoid heavy favorites since the payouts aren’t likely to be worth the wager you put out. Steer clear of placing too many bets on one sporting event to cover the point spread. It won’t likely prove to be profitable and you’ll be betting against higher odds.
The most important doctrine to remember is the smart gambler is the profitable gambler. Become a fan of the sport to improve your knowledge base and help you make the smarter bets. Never bet more than you can afford and walk away if your emotions over losing are affecting your decision making. Newbies can test out their abilities by placing small bets before moving on to higher wage amounts.