Wondering how to bet online and make money? Well you know most punters lose, so first learn from the most common sports betting mistakes and make sure you don’t repeat them!
We’ve put together a short beginners guide to help you improve the quality whether you just want to bet for fun or drastically increase your chances of winning. We’ve talked to professionals from the top sites in the industry to be able to present you the most common betting mistakes and how you can avoid them.
Register an account and learn how to bet online
Before you find out how to bet on football and win a punter needs to learn how to bet on sports online legally and, of course how to place a bet online. Even though the process itself is pretty straight forward, some sports bettors might require some particular betting advice. For instance, there are people who will wonder how to bet online without a credit card, fearing that something might go wrong, not knowing that the online sports betting industry invests hundreds of millions of pounds each year to ensure maximum security.
Check out the following resource if you are looking for a step by step betting guide that will teach you everything you need to know about sports betting completely free of charge. Make sure you learn the meaning of odds, how they work, why odds change, how bookmakers make money and the other basics of sports betting before wondering how to actually bet online and make money.
Proper Money Management
The lack of a proper money management will make it impossible for a punter to obtain success in the long run, regardless of the number of sports betting systems he will try to employ. The thing that happens very often is that sports bettors are forgetting to get the basics under their belt before dwelling with more advanced sports betting techniques.
Interestingly enough, most successful sports bettors use a simple money management routine as their betting strategy’s foundation. The pros seek odds with value, and in most cases that can be found in odds higher than 2.00, hence their average odds are mostly around that figure. That is why the best money management for even bets is the flat staking method: You basically pick a percentage between 0.5% and 5% of your bankroll which shall be used as your flat stake for the current season. You can, of course choose to adjust it whenever you deposit or withdraw a significant amount.
Never chase losses
Don’t try to win back the money you’ve already lost by increasing the stake or just wagering without any good reason, because you’ll surely end up bankrupt sooner or later – this is the most common mistake. Although it is natural for people to feel the need to recover their losses, letting yourself lead to disaster because of such behaviour more than once could actually be a sign that you might become addicted to betting.
How to forget about gambling losses? Simply comply with the money management plan and take a break whenever things aren’t going your way. Just switch focus and forget about sports betting for a day or two. Don’t even bother about visiting online sportsbooks or even sports related websites.
Even the best punters and tipsters in the world have losing streaks. There’s nobody on this planet that can avoid them. Losing is the part of sports betting all sports bettors have to learn to live with: Just accept it and move forward!
Specialise in a niche
Once you know what the best way to bet on sports is it is time to specialise in a certain sport and competition. Betting on lots of sporting events you know nothing or too little about won’t earn you any money. You won’t make profit sports betting unless you do things differently than the crowd do them. When it comes to betting on sports, football, tennis, basketball, cricket or horse racing, all are the same and it will be down to the individuals’ knowledge in the respective realm.
Understand and apply the Value Betting concept
The single most important concept to achieve long term profit from sports betting is Value Betting. Learn to bet the odds and not the outcome if you want to bet on sports and win. But how can someone spot value to bet on it?
It is really simple: Analyse the game thoroughly using a custom model you’ll devise to determine your personal opinion of a certain betting market. Indeed, you’ll have to establish probabilities, or in other words your own odds. After you’ve done that, compare what you’ve got on your end with the bookies odds and if you can find a better price than you expect, wager on that prediction because you’re probably found value. I’m saying probably because that’s really down to the quality of your analysis.
You’ll have to learn to generally avoid wagering on favourite teams (as the crowd will drag the price down in most cases, leaving no value there). Devise your own betting odds. Betting sites that provide sporting event previews and betting tips can be useful for you to collect data from, but not to copy their sports betting picks. Always ignore sporting events, betting markets and bet picks if they don’t offer any value, as convinced as you might be that the respective bet will turn out to be a winner.
Let’s recap. Keeps this in mind before attempting to devise successful sports betting strategy that will improve your betting and enable you to win real money:
- Learn the betting basics
- Choose a prudent online betting money management
- Bettors lose, so don’t ever chase losses – it’s one of the biggest mistakes you can make
- Specialise in a niche and don’t blame bad luck
- Develop a model that allows you to discover value in bookies odds
Successful betting is not easy. Make sure you avoid the common mistake. Make sure your betting decisions are based on value betting, not on favourite teams, hunches and other distractions. Horse racing or football betting: it doesn’t make a difference, as long as you properly evaluate your betting options properly. Making money from betting is possible, but for most punters it is out of their hands due to their lack of interest, discipline and dedication.
May the odds be ever in your favour!