In spite of the popular belief, sports betting and actually winning do not involve magic formulas, expensive computer simulating software or learning “insider” secrets via illicit ways. Similar to poker, the trick to making money out of wagers actually implies coming up with a system that allows you to win more cash than you lose. While having a bit of luck represents a big plus, in the vast majority of cases, it all boils down to understanding how you can turn the odds in your favor. Let’s go over the must-know facts to account for before betting.
1. No matter what you do, don’t bet on your favorite team blindly
Regardless of how much you know about your team and how well you predicted the wins and losses, it is never a good idea to bet on your favorite team alone. In case you want to place wagers to make some extra cash, then you will not be objective regarding your team’s real chances of winning a certain game. Secondly, when they lose, you will be very frustrated and that alone will take a lot of fun out of the betting activity. The bottom line is that if you have a favorite team, just sit back, enjoy the game and don’t bring money into this.
2. Do your homework before placing a wager
If you’re scooping the betting boards and analyzing standings in the hope of finding some bookmakers mistakes to take advantage of, then do not expect to win. If it comes to placing a wager that you do not really feel comfortable with, then don’t “try your luck”, but rather take a day off.
3. Know when to walk away
As a rule of thumb, if you enter a bad streak then it is best to take a break. Instead of recuperating the money you lost on those games, all your struggle will do is further trap you in the spider’s web. Things are very simple here: select the games, place the bet, collect the cash or get comfortable with the idea that you lost and walk away.
4. Bet the same amount on each game
In case you are accustomed to place a higher bet on a game you really like, while placing significantly smaller amounts of cash on the so-so matches, then you are in for a hard fall. Without denying that the high bet could cash in and award you a lot of money, it is better to be realistic and establish just how often you’re actually winning. In short, you are spending way too much cash in the long run and sometimes even the high payout cannot compensate for it.
5. Don’t be mesmerized by the allure of fast cash
Granted, it is really hard to resist placing a small to moderate sum of money on a game with 10-to-1 odds, especially if you did your fair share of research in advance and “know for a fact” that those 4 teams will win this weekend. Well, the major logic flaw here is you treating the odds as sure forecasts, forgetting that sports in general are unpredictable. The best approach in this case is to bet on those teams separately.
6. You should be wary of excessively fluctuating odds
If you find out that a game you like has a spread of 3, only to discovered that it has reached 4 or 5 when you reach your bookie, then this should raise a red flag. Even though odds vary from bookmaker to bookmaker, the differences should not be bigger than half a point. One point could be acceptable as well, but only on very rare occasions.
7. If you want to make money, then treat it like a job
In the eventuality you really need an extra income and you chose betting for this purpose, then do not treat it like a hobby, but rather as a job. Ideally, you should treat each of the wagers as a business transaction, meaning that you should research, analyze and decide whether or not you want to close the deal.
8. Every job comes with a vacation
Because sports betting is a demanding and nerve-racking activity, it would be a wise idea to take some time off occasionally to recharge your batteries. If you are having an awesome period and you are constantly winning, then this might not be the best time to go on vacation. However, when it all starts to mellow down and winning become infrequent, then go ahead and chill for a few days.
9. Skip betting altogether if it affects your health
If you know you are a bad loser and you normally get very pissed when you lose a bet, then it is better to avoid wagering, especially if you are experiencing health problems. As previously mentioned, sports betting implies both winning and losing, while your goal is to win more money than you invested. In conclusion, if losing makes your blood boil and affects your health and well-being, then this is not an activity for you.
10. Don’t get emotional, irrespective of whether you are winning or losing
Emotional in this case refers to yelling and screaming when you win while moaning and whining when you lose, particularly if you’re a regular of the local parlors. Because nobody likes gloaters and whiners, the best thing you can do is to maintain your calm and act like you’ve been down that road before every single time.