Betting on sports is a popular hobby for many people worldwide and unlike some other forms of gambling, you can actually make money in the long run if you stick to a smart strategy and do it sensibly.
Whether you just want to bet on the football with your mates every weekend or intend to spend more time researching niche sports and finding value in alternative markets, there are various things you can do in order to increase your chances of winning over an extended period.
Of course, there is no guarantee of success in gambling. It is a risky way to try and make money, but it is certainly possible, and what’s more, it can be a very fun way to enhance your sports viewing.
Some punters dedicate their life to online sports betting by developing sophisticated systems, which is at a more advanced level than the following five tips that even beginners can adopt in order to improve their gambling results.
Shop around for the best odds
Betting sites will always want you to only bet through them, but you should always look around for the best price on any market you want to wager on, just as you would buy any product at the cheapest price you can find in any walk of life.
For English Premier League betting, you might not find much disparity between prices across the top UK bookmakers when it comes to the most popular bet types, but if you are looking into stat bets for individual players or other special markets, there may be big differences.
The biggest differences will usually be found in niche sports and markets where there is less data, activity, and attention.
If you are not sure which sportsbooks to compare odds across, the best betting sites in Canada is a good place to start.
Follow niche sports
It is very tough to find an edge when betting on top leagues such as the NFL, NBA, and English Premier League.
If you are a fan of smaller leagues within the top sports, or less popular sports altogether, you may be in a better position to find value.
More and more sports are starting to appear on betting sites and there are plenty of Esports, chess, and table tennis experts out there and managing to outsmart certain sports traders at times.
Less is more
It can be tempting to bet on every game you watch, especially when you are on a winning run and feel invincible – but you should only place a wager when you genuinely believe you have found value and have formulated a strong opinion one way or another.
Betting too often can have a negative impact on your overall profits, and you could be focusing too much attention on bad wagers while you could be making better use of your research time.
Don’t only go for accas
Every bettor has placed an accumulator at some point, and in fact, it is probably how most people got into punting in the first place.
It can be tempting chasing those big odds, but if you have picked out a well-researched selection, it would be a shame to waste it by just putting it in an accumulator which loses due to another pick failing to come in.
Of course, sometimes accumulators can represent good value, especially when part of an enhanced odds promotion, but don’t be afraid to instead place multiple single bets at shorter odds.
Track your wins and losses
Most bettors that operate at an intermediate level have a spreadsheet or document in which they note their wagers and track their profits and losses.
This can help you stop betting recklessly, and also aid you in identifying where you are going wrong or doing particularly well.
By setting a bankroll and sticking to a budget, you can keep everything under control.