No matter which sport it is that you are betting on, it is important to give yourself the best possible chance of placing successful bets by following some simple tips. Our experts have put together the following 10 tips, which are aimed at punters with varying strategies and budgets, as well as across a range of sports.
1. Understand the Value of Bets
It is important to understand which markets provide value and which do not. Betting on a soccer or cricket team who are the overwhelming favourites to win an upcoming match is unlikely to bring about any significant winnings, however there are certainly options available to those who truly understand value in this area. Backing on teams and players who are undervalued by bookmakers is often a good way to win big, which involves spotting when the odds offered are too high. Of course, recognising this will be different for each event, with this revolving around judging probabilities more accurately than betting sites do. So, skip markets where there is little to no value, focusing instead on sporting events where there is a good chance of winning some significant funds. Once you have developed the ability to do this on a consistent basis, you will have an edge over the bookies.
2. Work Out How Bookmakers Generate Odds
Bookmaker odds are a reflection of what they expect punters to do, rather than what they think will happen when it comes to a certain sporting event, however this does depend somewhat on the popularity of the event itself. Betting sites will also generally offer odds in order to attract their customers to a particular side, balancing their liability in the process. However, those in the know are still able to find excellent value, especially when the general public’s opinion is incorrect. As well as this, there are also opportunities when there is a huge amount of interest on a particular event, whether it be the Super Bowl or Soccer World Cup Final.
3. Don’t Rest on Your Laurels
It is also important that you do not let a losing streak put you off betting or a series of wins leading to overextending yourself. Stick to your betting strategy and budget at all times, with this being the best way to effectively meet your objectives in both the short and long-term.
4. Don’t Hope for Too Much Too Soon
No matter what your betting strategy revolves around, know when to bet big and when not to. While an accumulator bet on a range of soccer teams may be appealing in terms of the potential rewards, however unless thorough research has been carried out, they are generally not a good style of wagering. Multiples can be an excellent way of finding value in the market, however it is important to ensure that each leg has a viable chance of winning. Beginners should potentially stick to singles and doubles, before potentially moving on to multiples.
5. Keep Track of Your Bets
Despite a small number of punters actually doing this, we would also suggest keeping some form of records when it comes to the bets in which you are placing. Looking back at both successful and unsuccessful bets will quickly and easily show which markets and bet types have been the most effective. The majority of bookmakers today will do the hard work for you, keeping a large amount of information in this area available at all times.
6. Carry Out Research
With there being so many variables when it comes to sporting events, it is important to carry out research before placing bets. While you may get lucky once in a while with a bet placed on a whim, looking at the teams or players involved in detail is a far more effective approach. Many bookmakers now offer statistics and information surrounding sporting events, while there are a number of other resources available online today, so there really is no excuse! It is very simple however, the more you know about a market, the better the chance you have of winning. Meanwhile, be sure to use any expert knowledge that you may have that can give you an advantage over the bookmaker.
7. Utilise Different Bookmakers
There is nothing to say that punters can only be registered with one bookmaker, meaning that it is worthwhile signing-up to more than one in order to take advantage of different odds, markets and promotions. Whether it be free bets, price boosts or matched deposit offers, it is sometimes worth registering on a betting site for their welcome bonus alone. Meanwhile, being registered to a range of bookmakers means that you are always able to receive the best odds.
8. Specialise in a Particular Area
Whether you are fanatical about cricket or never miss a soccer match, be sure to focus upon a small number of markets when it comes to betting online. It is almost impossible to be an expert in everything, meaning that it is far more realistic to specialise on a particular sport.
9. Learn the Basics
Those new to the world of sports betting must make sure that they understand completely all of the different markets which are available, along with how to develop a strategy. This will put punters in much better shape to be successful, rather than simply going in blind. Most bookmakers offer a good amount of information in this area, while our betting guides are also on hand to help customers.
10. Set Realistic Goals
No matter how high your targets are when it comes to betting on sports, it is important to make your goals achievable at all times. It is not all that difficult to win a small number of bets, however making a profit on a consistent basis is far tougher.