Have you ever felt trapped in this looming vibe of defeat and still on the losing streak? It sucks in the sports betting world. Realistically speaking, it happens to the best of us. Between bets and wagers, a solid strategy goes a long way from banking up profits or losses. Fortunately, there are efficient ways to turn that L into a W.
This article will discuss the basics but most effective means of keeping your wins high and losses as low as possible. This short guide applies to every sport you bet into, so take a few minutes here with us and see what you can apply to get banking by the millions!
Speaking of Banking, Bankroll Management
You always put your money at risk whenever you bet on your favorite sports. And just like most of us, we can only afford to lose so much inside the betting lines. That’s why reviewing or creating a bankroll strategy plan is vital to your success.
To simplify it, it’s just a manner of keeping your accounts in check and applying thorough decision-making in your wagers. It would be best if you already have an existing debit account made as your bankroll budget. In that way, you won’t be messing with your savings anytime. And in worst-case scenarios where you bled your bankroll dry from sports betting, you still have enough money to cover your real-world obligations.
Learn How Odds Work
At one point, you’ve bet on your favorite team without checking the odds. But don’t worry, most people do this, especially if they’re betting for fun. However, if you want to maximize your winnings, checking numbers is everything.
To keep it simple, odds represent the potential reward you’d get based on the result. These numbers fluctuate over several reasons, affecting your potential winnings with the teams involved. So why do you need to check the odds before betting?
Ideally, you’d want to bet on a wager with the most significant winning potential or the lowest risk. There’s little sense to play on a $500 bet with a potential cut of $700. On the other hand, small-time bets can get you $150 or higher under a $50 bet—in other words, betting big doesn’t always mean winning big. Even if the amount is small, it goes a long way to mold you to becoming an efficient bettor.
Steer Clear of Parlay Bets
Depending on the type of sport you’d wager into, parlay bets are generally betting lines with huge reward potential under a small stake minimum. What sounds good on paper, the odds of winning parlay bets are smaller than you think.
If you’re going to play long-term or are working with a small bankroll, avoid parlay bets as much as possible. Consider them slot machines; they have big jackpots, but you’d probably lose more the longer you play with them.
Hedging bets may be categorized as somewhere on the advanced level of sports betting strategies, but this can be useful if you understand betting lines and odds well. By definition, hedging involves betting against the original wager to either minimize losses or make a profit. By doing this, you cover all the potential outcomes of a wager and potentially gain a profit.
Let’s run over a quick scenario on how this works; look at the points below and take note.
Team A: Initial $1000 win over $200 stake, $500 win over $100 stake when paired with Team B
Team B: Rival to Team A, $600 win over $400 stake
Let’s say you initially wagered in favor of Team A, and early odd numbers say you can get a $ 1,000 win over a $200 stake. Hours before the game, Team B is announced as the rival team against Team A. Knowing that Team B fares well with Team A, your betting odds dramatically change.
Placing another bet against Team A, you can cover your losses regardless of who wins. When Team A wins, you get back your $400 loss on Team B; when Team B wins, you get back the $100 loss plus earn another $100. Hedging is an intelligent tactic to control your bets and ensure a profit or an equal payout.
Remember that this is just a simplified explanation, so we recommend getting an online hedging calculator to determine the math in-between odds.
Ride The Streaks
Team cooperation and individual performances go hand in hand in the betting lines. And with most sports, some players can get consistent, especially in the ”Zone”. This means that a player sometimes can’t miss a swing or has been scoring points consistently. When this happens, you can get analytic and understand the patterns to increase your chances of winning.
A lot of factors are coming in for a player to be consistent and get into the ”Zone”. While we can’t know them all, you can understand the factors contributing to their performances through record plays. This is especially true if you’re betting on a top team competing against numerous top contenders during their plays. Just make sure you look at all measurable factors and betting odds to get the best payout possible.
Unsurprisingly, the best bettors are patient, strategic, and cunning. You can improve your skills tenfold by understanding these tips above and incorporating them into your strategy.
Unsurprisingly, the best bettors are patient, strategic, and cunning. You can improve your skills tenfold by understanding these tips above and incorporating them into your strategy. Nevertheless, remembering to track your money, understand the game, and keep your wits can ensure a profitable and fulfilling betting experience.