Betting on sporting events is a hobby of many people and most of the fans think of this as something fun and enjoyable to spend their free time. However, there are ways to consistently make money through betting. The trick is to understand the betting strategy, the types of bets you can play, the odds of winning, make smart bets, and stay away from bad bets. In addition, it is very important to remember that making money from sports betting is something that takes time and dedication: you should not make one big bet to win a lot of money at a time, but make several smart small bets over time to add to the coffers. little profit.
Method 1 of 3: Start Betting
Step 1. Open a special account
To earn money through betting, you have to show dedication. So, you should open a special account to bet.
- When opening an account, make sure you invest enough money to pay bets for the entire season or year, not just one game.
- To make sure you have enough money, multiply your initial bet by at least 100 times. This amount is the minimum that must be kept in the account at all times.
- If you are new to sports betting and don't know the initial bet amount, enter whatever money you have available to bet and determine the initial bet based on that amount (each bet should not take more than one or two percent of the amount in the account).
Step 2. Create an account with several sports bookmakers
To place a bet, you must have an account at at least one sports bookie, but ideally create a minimum of three so you can compare offers and place the best bet. Some bands also offer sign-up bonuses. So, make sure you seek information from several bookies at once. Most sports bookmakers are available online today. Some of the most famous bookie websites are:
Step 3. Learn how to make smart bets
There are some rules to be aware of when placing bets; some are a matter of numbers, while others are a matter of choosing which teams to support and which teams to stay away from.
- For example, even if the nominal value of each bet is only one or two percent of your total bankroll, reduce the bet to 0.5% if you are not sure about the bet made. Similarly, you can increase the bet if you are absolutely sure, but never bet more than four percent of the total savings.
- There are also some experts who forbid you to bet on something you don't believe in. Better to go and find another bet that you are more confident in.
- Many experts recommend that you don't bet on your favorite team in any sport because siding with that team can undermine judgment and make you lose.
Step 4. Make a betting schedule
Don't just bet on every game. Every week, keep an eye on the upcoming matches and choose which one you want to bet on based on your belief in the odds of winning.
Don't be afraid to cancel bets right before the game. Odds change, match conditions change, and points gain change. If you are not sure about the bet placed, cancel or reduce the amount
Step 5. Don't place bad bets
This refers to an attempt to eliminate losses from previous bets by betting more. This practice is dangerous because most people generally ignore objective judgment and place more bets to win the lost money so that they end up losing more.
The reverse of this practice is also true: don't chase good bets (which you win) and place more bets to win double or more money. Make a betting schedule or bet regularly and don't stick to it
Step 6. Bet while sober
This refers to betting made with a clear mind and focus. Many people think that this is very trivial, but in fact there are still many who ignore it. Emotions can influence a person's mindset and bad decisions are often the result of emotions.
"Going on Tilt" is a term that arises when a sports bettor lets his emotions get in the way of a neutral view and thus loses the bet and loses money
Method 2 of 3: Understanding Sports Betting
Step 1. Understand about moneylines
A moneyline is a plus or minus number that corresponds to each team in a particular match. This number refers to the amount that must be bet to win 100 dollars or the amount of prizes you get if you bet 100 dollars.
- For example, if the Toronto Maple Leafs team moneyline is -200 and the Vancouver Canucks team +155, this means you have to bet 200 dollars on the Leafs team to win 100 dollars or bet 100 dollars on the Canucks team to win 155 dollars.
- The team that has a minus number (Leafs) is the winning team, while the team that gets a plus number (Canucks) is the dark horse team.
- Many people place moneyline based bets for hockey and baseball because the scores are lower so point based bets don't make sense. However, you can also place moneyline bets in almost all sports.
Step 2. Study the point spread
Point spread betting is more popular in games where the final score is quite large. In this bet, you are not only betting on which team will win, but also betting on the score scored by that team.
- For example, if the point spread is Detroit Lions +4 and New England Patriot -4, you bet the Lions will win by more than 4.
- Again, the team that gets minus points is the seeded team and the team with plus points is the dark horse.
Step 3. Understand parlay bets
Parlay involves various types of bets in one match. For example, if you combine a moneyline bet and a point spread bet, this bet is referred to as a Parlay.
These bets often offer great prizes, but require very high accuracy
Method 3 of 3: Studying Betting Strategies
Step 1. Choose the most profitable bet
This is why you need to create multiple betting accounts; several bookmakers offer a bigger advantage on the same match. In other words, you have a lower risk of getting the same reward.
- The best time to buy bets is one hour before the game.
- For best results, consider opening accounts at three different bookmakers.
Step 2. Make bets based on odds
Smart bets are bets made based on calculated odds, not emotions. Sometimes, you should bet to guess the score of the match instead of determining the winner as this gives you a bigger advantage if you win.
For example, if you bet on a baseball game and think the Yankees will win, you may need to bet money on the opposing team if the odds are better
Step 3. Don't be afraid to place a bet on the dark horse team
This doesn't mean you have to make instinctual bets. Bet on the dark horse team when the odds are good. Sometimes, the top team is chosen based on popularity, not ability. So, it's not always the winning team that wins the game.
Step 4. Take advantage of the pair bet
Pair betting involves taking advantage of the bonuses and incentives offered by the bookie when bettors place bets for both teams in the same match.
- For example, in a basketball match between the Raptors and the Knicks, you can place a bet for the Raptors and make the same bet on behalf of the Knicks.
- Pair bets take advantage of free bet opportunities so you can place bets on both teams competing. This type of bet is one of the safest.