As you’re probably well aware, sports betting is increasingly popular both in the UK and in many other regions of the world. In fact, in the UK, every second, gamblers wage an average of £600, and the amount continues to rise as bookmakers are switching to digital platforms.
Approximately half of the bets revolve around football since it’s the most loved sport here. If you’re reading this article, most likely you’ve already had some experience with betting. Maybe it’s not going very well, and that’s why you’re looking for tips and strategies. Are you tired of losing money?
Unfortunately, most bettors tend to lose a lot of their hard-earned cash, especially at the beginning. It can come from a lack of experience and poor decision making. Either way, you’re not alone. By its very nature, gambling is risky. However, when done sensibly, it can be a great way to fill your time, add some excitement to watching sports and even make some money.
But how? How do you make the most out of sports betting? Keep reading to find out.
Learn as Much as You Can About Your Favourite Sports
This should go without saying. The majority of people who place bets are fans anyway. It’s a way for them to get more involved in the action of the game. To feel like they have something at stake. But to win at betting, you need to know more than your average sports fan. It’s all in the details. Savvy betters even take weather conditions into account when making their decisions.
Let’s say your favourite sport is football. Knowing which team won their last six games isn’t enough. You need to look into how they play offensively and defensively, how good they are at keeping possession, the strengths and weaknesses of each player and then compare these factors to the opposing team. If one of their star players is missing then who is likely to step up to be the playmaker or take the corners and free-kicks?
We need to note that it also pays to follow less popular sports. A good example is MMA. Bookmakers are always expanding their market, and when you get into a sport like MMA, you have fewer variables to take into consideration.
Our next tip is to keep a record of your bets. If you really want to take your betting to the next level you need to stay organised. What exactly should you keep a record of? For starters, which bets you won and which ones you lost, the amounts you waged, your overall profit or loss and which bookmakers you used for each bet. This will give you a platform to analyse your strategies and see patterns. You’ll have a clearer idea of which decisions led to profit and which to loss. At the end of the month, put everything together and, depending on your betting goals, see if you’re in the green or red.
If you’re in the green, it means that your current approach may be working for you. Start from there and see what improvements you can make for even higher wins. However, if you’re in the red, your strategies are not working out. See which bets made you lose the most money and identify the reasons why.
To keep track of your bets, you can use a spreadsheet or, for a more comprehensive solution, there are many apps designed specifically for this purpose. Maybe jotting down all your bets isn’t the most exciting activity but it gives results.
Since we’re on the topic of organisation, you’ll also want to keep a record of your bookmaker account information. We imagine you’re using several. No? Well, you should. More on that later. People who are serious about winning at sports bets usually have at least 50 accounts which makes it difficult to remember all the information. It’s not recommended to use the same credentials for all your accounts so you’ll have 50 different usernames and passwords. You can store them through another software, so you only have to remember one password.
Don’t Stick to Just One Bookmaker
Our third tip is to shop around and switch between multiple bookmakers often. We already hinted at this in the previous point. Bookmakers place a lot of emphasis on loyalty because it’s such a competitive market. There are hundreds of online betting websites, and they all push special offers and loyalty schemes to reel you in. This means that it’s more profitable to switch between them.
Do your research and check what offers are available for specific bets. Pay attention to free bet promotions in particular. Bookies are always coming up with free bets and other types of promotions for new or existing customers. If you have multiple accounts, you’ll have special offers you can take advantage of on a daily basis. Sign-up promotions are by far the best. It’s free money on the table. When you stick to just one bookmaker, you miss out on all of that.
As you get more experienced in sports betting, you can try betting exchanges. They offer some significant benefits such as better odds, low commission rates, and they accept any kind of bettor. With traditional bookmakers, if you win too much, they may restrict your account. When you use betting exchanges, you’re unlikely to encounter such problems.
Remain Objective – Don’t Bet With Your Heart
Our fourth and final tip is the classic “don’t bet with your heart”. You really want your favourite team to win. You’re cheering so hard that you even start to convince yourself that the odds are in their favour. Then you go and place your bet.
Remember you are no longer just a sports fan. You’re a serious bettor. And betting boils down to mathematics. You need to stay in control of your emotions and make decisions using your analytical brain. Amateurs usually rely on their emotions. The thing is that for them, betting is just part of the fun. If they lose they’re not that bothered and if they win they see it as a bonus, as something they can talk about with their friends. Bookies love them because they convince themselves that their team will win no matter what.
If your goal is to make money through betting and you wage on your favourite team, you’ll be doubly as disappointed. First because your team lost and second because you also lost your money. We strongly advise you not to place any bets unless your research and analysis suggests that you should.