Sports betting, like controlled gambling, is a profitable hobby for many – and can be tremendously rewarding if done sensibly. With the right amount of time and dedication, there are ways to consistently win money while minimising risk. Follow the steps below to win at sports betting.
Step 1: Open a Dedicated Bank Account
Opening a bank account dedicated to bets will enable you to separate your personal finances from your betting finances. This will make keeping track of losses and wins simpler and easier to evaluate. When the account is opened, ensure that you have invested enough money to cover your expenditure foran entire season or year.
The minimum amount that you should keep in your new dedicated account should be 100X your base bet. A base bet is usually around one or two percent of the original amount that you have decided to invest in sports betting.
Step 2: Create Sportsbook Accounts
Most Sportsbooks are available online, and it is prudent to open accounts with at least three different sportsbooks. This will enable you to compare offerings and make informed decisions about your bets. Remember to keep an eye out for signup bonuses!
Some popular online Sportsbooks are:
Step 3: Learn to Make Clever Betting Decisions
Improve your betting strategy by making informed decisions about your bets. The best way to make “smart” bets is to know the sport you are betting on. Details like the team’s statistics are important, but having overall knowledge of how the game is played and how the players operate will increase the likelihood of spotting opportunities.
Avoid placing bets that you are not confident about. Remember that each bet should represent about one or two percent of your bankroll, however you should decrease this to about 0.5 percent if you are not confident of the outcome. Another important factor when betting are personal viewpoints and biases, for example placing a bet on your favourite home team due an emotional connection.