Betting on sports is a hobby for many people, and most people just think it’s a fun and friendly pastime. But there are ways to make consistent money in sports betting. The trick is to understand betting strategies and the different types of bets you can make, to know the odds, to make smart bets and to stay away from bad bets. It’s also important to remember that making money in sports betting takes time and dedication: it’s not about making a huge bet and winning a lot of money at once. Rather, it’s all about making a series of small, smart bets throughout the season to make an overall profit.
Part1 -Getting Started
1: Open a specific bank account.
To really make money in sports betting you need to be dedicated, so it’s a good idea to have a special account just for betting.
When you open this account, make sure you invest enough money to cover a whole season or year, not just one match.
To make sure you have enough money, multiply your base bet by at least 100, which is the minimum amount you should always keep in this account.
If you are new to sports betting and don’t know your base stake, put in whatever money you have set aside for the cause and determine your base stake based on the size of your money (each stake should be between 1% and 2%).
2: Create an account with some sportsbooks.
In order to place a bet, you must have at least one sportsbook account, but it is best to have at least three, as this will allow you to compare products and make more informed bets. Some sportsbooks also offer sign-up bonuses, so be sure to shop around. Best sportsbook in Asia : OKbet Sports Betting
3: Learn to make smart bets.
There are many rules that apply, and while some are about numbers, others are about the teams you should and shouldn’t bet on.
For example, while each bet should be between 1% and 2% of your money, you can reduce it to 0.5% if you are not confident in your bet. Similarly, if you are very confident, you can increase your bets, but never bet more than 4% of your money.
Some experts also say that if you are not confident, you should never bet because it is better to walk away and find a better bet that you feel good about.
Many experts recommend not betting on your home team in any sport, as your bias can cloud your judgement and this can lead to huge losses.
4: Create a betting schedule.
Don’t just bet on every game: each week, look at the upcoming games and choose which ones you want to bet on based on your confidence in the potential bet.
Don’t be afraid to give up your bets before the game starts. Odds change, odds change, spreads change, and if you are no longer confident in your bet, either don’t bet or reduce your bets.
5: Don't chase bad bets.
This is the practice of trying to make up for the loss of a previous bet by betting more. This is dangerous because many people will throw away good judgement and place more bad bets in an attempt to win back what they have lost, which can lead to further losses.
The opposite is also true: don’t chase a good bet (one you won) with more bets in an attempt to win more or double your money. Have a betting schedule or routine and stick to it.
6: Betting sober.
This refers to betting with a clear head and focus. Many people will read this and think it’s common sense, but you’d be surprised how many people break this rule. Emotions can bring out the best in all of us and the wrong decisions can be made from those emotions.
“Going on Tilt” is a term used when sports bettors let their emotions get the best of them, thus causing them to lose money.
Part2 -Understanding Sports Betting
1: Understanding the money line.
A money line is a positive or negative number associated with each team participating in a particular game. It is how much you must bet to win $100, or how much you will win if you bet $100.
For example, if the line is Toronto Maple Leafs -200 and Vancouver Canucks +155, this means you must bet $200 on the Maple Leafs to win $100, or you must bet $100 on the Canucks to win $155.
The teams associated with negative numbers (Leafs) are the most popular teams, while the teams associated with positive numbers (Canucks) are the underdogs.
Many gamblers bet on hockey and baseball games because the scores are low and point spread betting is not very meaningful in these games. However, you can bet on almost every sport.
2: Understanding the spread.
Point spread betting is more popular in games where the final score is a lot more different. In spread betting, you are not only betting on whether a team will win, you are also betting on whether that team will win a specific amount.
For example, if the spread is +4 on the Detroit Lions and -4 on the New England Patriots, you would bet on whether you think the Lions will win and whether they will win by more than 4 points.
Again, teams with negative correlations are the most popular, and teams with positive correlations are the underdogs.
3: Understanding betting.
Pass betting involves placing multiple types of bets on the same game. For example, if you combine a win line bet with a spread bet on the same game, this is a pass bet.
These bets usually offer large payouts, but they require a high degree of accuracy.
Part3 -Learning Betting Strategies
1: Buy the best lines.
This is where having multiple sportsbook accounts comes in handy, as some accounts offer better paylines on the same games, meaning you have to take less risk to win the same amount of prize money.
The best time to queue up to shop is about an hour before the game.
To get the best value, consider opening an account with at least three books.
2: Bet according to the odds.
Betting with your head, not your heart, means making smart bets based on odds rather than emotions. Sometimes it’s a good idea to bet on the numbers rather than the person you think will win, because if the odds are in your favour, it may represent better value.
For example, if you bet on a baseball game and think the Yankees are going to win, you might be better off betting on the Squirrels if the odds are right.
3: Don't be afraid to bet on the loser.
This doesn’t mean betting long, but betting on the loser when the odds are right. Sometimes the favourite team is chosen based on popularity rather than skill, so it doesn’t necessarily mean the favourite will win.
4: Make the most of match betting.
Match betting involves using the bonuses and incentives offered by the book to bet for and against the exact same event.
For example, in a basketball game between the Raptors and the Knicks, you would place a bet on the Raptors and then match that same bet with the Raptors.
Matching bets are two possible outcomes that take advantage of free bets and bets on the same game, so this type of betting is virtually risk-free and you can get away with it in gambling.