Three Things to Do (and Not Do) for Successful Sports Betting

Sports betting can bring a whole new level of enjoyment to almost any event.  Irrespective of the size of the wager, there’s something uniquely exciting about the whole thing. 

Of course, sports betting is not a reliable way of making money on a regular basis. Nor are there any guarantees that even the ‘safest’ bets will pan out in your favour. 

But there are at least a few things you can do (and avoid doing) to support your cause. Ask any seasoned sports bettor and they’ll tell you the same – the secret to successful gambling lies in the following:

1 – Do: Conduct Plenty of Research

Sports betting is one of the only gambling activities when research and insight can tip the balance in the player’s favour. More often than not, there’s enough information and analysis available to figure out who is most likely to win or lose. And in doing so, ensure your bets are placed exclusively on the likeliest outcomes.

It sounds simple because it is – wasting money on outside bets is not a formula for success. It can be exciting to back the underdog, but pocketing prizes on outside bets is something that (very) rarely happens. With the exception of outcomes so inevitable there’s really nothing on offer in return, it’s almost always better to back the favourite. 

2 – Don’t: Place Bets Based on Bias 

You may be the ultimate superfan and you’d happily go to the ends of the earth for the team you support. All well and good, but if they’re up against a vastly superior team and have no chance of winning, backing them is a terrible idea. Though it’s something millions do instinctively on a daily basis, knowing full well they are basically throwing money down the drain.

Placing bets based on your own personal bias or preferences is a recipe for disaster. If betting against the other team goes against everything you believe in, you might want to hold off entirely for the time being. That is, unless the extensive research you have (of course) carried out suggests there’s a major upset on the cards. 

3 – Do: Consider the Value of the Bet 

This is where sensible lines need to be drawn between savvy bets and value for money. For example, an international fixture between the German national football team and San Marino will only ever have one outcome. All the miracles in the world aren’t going to change the inevitable result – a complete and utter whitewash. 

Backing Germany is therefore more sensible than backing San Marino, as you’re almost 100% guaranteed to win. But if putting £100 on the line means pocketing a prize of 50p, you need to ask yourself whether it’s worth it. The answer is, of course, no – it’s not. The prospect of a 50p prize isn’t going to add any enjoyment to the experience, or push you towards a higher tax bracket.

4 – Don’t: Limit Yourself to One Sportsbook 

Doing business primarily with one top-quality bookie you’ve come to like is fine. However, there’s much to be said for taking advantage of all the different bonuses handed out online. Most of which are exclusive to new customers, taking the form of anything from free bets to cash back on losses. 

Even if it means sticking around only to make use of the incentives on offer, it’s worth doing. Some of the biggest and best betting brands can be quite generous with their introductory bonuses.  Just be sure to consult the terms and conditions carefully, prior to accepting any online bonus offer. And remember that anything that seems too good to be true most probably is!

5 – Do: Keep Records to Manage your Bankroll

The administrative side of sports betting might not be its biggest point of appeal. But if you’re serious about getting the most out of the experience, good bankroll management is essential. This is basically where you set aside a finite amount of money for sports betting, which you never exceed. A sum of money you can comfortably afford to lose, without it adversely impacting your lifestyle.

Taking things a step further, the most successful sports bettors swear by the benefits of keeping records. This is where you maintain a log of your gambling activities, using a simple spreadsheet to record your wins, your losses and so on.  Slowly but surely, you’ll build an invaluable resource to help you make safer and more sensible decisions in future. Not to mention, a clear indication of how much you are spending, and whether you can really afford to do so. 

6 – Don’t:  Try to Get One Over on Your Bookmaker

Last up, countless millions have spent generations looking for ways to get one over on their bookies. Even today, you’ll come across all manner of guides and tutorials covering the art of ‘winning’ gambling and strategy. Roughly translated, the kinds of strategies with the potential to guarantee healthy and ongoing profits. 

Even from a simple common sense perspective, it should be obvious that no such strategies exist. If they did, they would have been exploited long before now, and the sector would be unviable. The simple truth of the matter is that even with all the most advanced technology on earth, there is no gambling system that guarantees wins. Putting any faith in such systems is therefore a big mistake, as you’ll be betting based on anything but logic.

In Summary…

The fact that there is always a degree of risk involved is what makes gambling enjoyable. It’s also what makes the industry sustainable, lining the pockets of bookies with generous profits.

Becoming a more successful gambler is not about winning more money or outsmarting the system. Instead, it’s simply about getting more enjoyment out of the experience and avoiding heavy losses.

Placing wagers can be fantastic for injecting energy and excitement into all types of sporting events. That is, just as long as you have the right intentions and expectations from the get go.

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