Advice from professional players who have actually made money from sports betting can be of great benefit to newcomers. Of course, we are not talking about made-up “success stories” here. We are talking about well-known betting schemes and strategies, including financial ones.
Decide what you want to bet on sports
What do you expect from betting – a portion of adrenaline and quenching your thirst for excitement? Or is your goal to make money? Even if you think of betting as a harmless hobby, you don’t want to lose real money. And if you manage to achieve a tangible success – not from time to time, but on the distance, why not develop the acquired skills? Since betting in a bookmaker’s office is for money, it requires a serious approach.
Control your bankroll and risks
Every player allocates a certain budget (bankroll) to betting at a betting shop. The size of the bankroll determines the amount of each individual bet, and also the number of bets within a certain period of time. Remember: even the most successful bettors make money over a distance, not with one-off big winnings. They lose too, but they treat failure as a valuable experience. So manage your budget wisely and evaluate the risks of every bet you make. Your financial tactics should not be a take-it-or-leave-it proposition: Only make precise calculations and know how to stop in the right place at the right time!
Learn to Deal with Information
Any kind of information can help you in your betting game. Of course, you have to study a lot of statistics. But inside information, and even “sports-related” news that is directly or indirectly related to the event you are analysing, can change your initial tactics.
Case in point: In the first round of the 2020 NBA playoffs, the Utah Jazz led the series against the already familiar Denver Nuggets 3-1. They were one win away from advancing to the next round. But as soon as Jazz leader Donovan Mitchell turned his attention to political events and started talking about a boycott of the games, experienced bettors saw this as an advantage for their rivals and began to place bets with favorable odds on the underdogs from Denver Nuggets. They were right: The Jazz lost three games in a row and dropped out of the playoffs.
Count the odds, look for the best odds
Never forget the betting margin, no matter how good the odds are. If you go to another bookmaker, the margin on the same event might be lower, so you will earn more money there.
Read the bookmaker’s line not only in terms of high or low odds. Compare the numbers you see with your own opinion of the odds of your opponents and the probability of a particular outcome. On the basis of your analysis, learn to find undervalued bets (Value betting strategy) on which the bookmaker has mistakenly given inflated odds.
Keep statistics and improve your betting system
All bets made by the bettor are saved in the betting history which is available for viewing in your personal cabinet on the website of the betting company. But you should also accumulate your own archive, ideally with objective commentary. “I made a mistake here as I misjudged the attacking potential of the football team. And in this fight, I did not take into account the long downtime of the boxer, which caused him to lose to a more resilient opponent”. Knowing how to draw the right conclusions from losses and correctly interpret wins will help you be in the black over the distance.
If you use one or two strategies for betting on a regular basis, also make objective conclusions that will allow you to improve your tactics and reduce the risks.
Don’t let your emotions get the best of you
One of the player’s worst helpers is his emotions. Remember: Even the most experienced and successful bettors lose! Get into the habit of not going over your predetermined budget, so you don’t lose your whole bankroll in a bid to win back. The same goes for a winning streak. Once you’ve had a few good bets, it’s not uncommon for a beginner to go overboard, increasing his betting odds in order to win even more cash on the winning streak. Often, such emotional decisions have negative repercussions, and a big loss reverses all previous gains.
More tips and ranking of sports betting sites at Bookmaker Ratings Zambia.
Suitable for starters: some of the most reliable betting strategies
Modern betting uses a large number of betting strategies with varying degrees of risk. Beginners and advanced players alike can be advised on a few approaches that are easy to understand and implement.
Kelly Criterion
This system relies on the bookmaker and the gambler estimating the odds of each outcome differently. For example, the odds of BC to win one of the teams is 2.85. That is, the probability of its success is 35%. But in your opinion, this outcome should have an odds of 2.20 and a probability of 45%. The difference between the numbers is in favour of your prediction, hence – the bookmaker might have underestimated the bet. For us, this serves as a signal to place a bet.
To determine how much to bet, we use the Kelly Criterion formula.
(Bookmaker odds * Prediction – 1) / (Bookmaker odds – 1) = Wager amount (% of pot)
Substitute the numbers:
(2,85 * 0,45 – 1)/(2,85 – 1) = 0,15
Optimal size of the bet on the analyzed event is 15% of the bankroll.
When using Kelly’s criteria in practice it should be understood that the player has to evaluate the probability of the selected outcome objectively.
Fixed Percentage of the Pot
Betting on a fixed percentage of the total budget can also be recommended for beginner bettors. As a rule, beginners bet at a rate of 5-10% of the bankroll. It is also advisable to set a maximum daily budget to avoid quickly losing the bankroll in a short period of time. If you make a few unsuccessful bets, take a break, analyse your mistakes and continue to play another day.
To become a successful player, move from simple to complex, gain experience, analyze your mistakes and successes, and listen to recommendations Bookmakers Ratings Zambia!