If you are an avid sports fan and you would like to use your background knowledge to make some money by betting on sporting outcomes, this article was written with you in mind. We talked to a few sports betting veterans and here are the best of their tips.
- Focus on sports that you know a lot about – Whether football, boxing or MMA, you have more chance of predicting outcomes if you are very knowledgeable about the sport and players. Rather than playing online slot machines, when you bet on a sporting event, you have a better chance than 50-50. Research the form of teams and only wager when your team has an excellent chance of winning.
- Setting firm limits – One of the biggest dangers with sports betting is chasing your losses; set yourself a betting limit (per wager) and regardless of how things go, never exceed that limit. If you take an in-depth look at successful gamblers, you will see that they have a system they play to and they have rules in play to prevent impulsive bets.
- Free bets – Yes, some online betting organisations actually offer free bets when you register as a user. Some sports betters regularly change their platform in order to get free wagers and they can be quite substantial. You should do a lot of research into any online betting provider, to ensure they are legitimate and that they have the correct licence. There is a lot of competition among the bookmakers, which is good news for punters.
- Multiple bets – You can bet on just about anything; pick 6 Premier League teams to win next weekend and if you can pick the winners, you can make a lot of money. Called ‘accumulators’, these bets offer the chance of a big pay out with a small wager. There are quite a few millionaires who acquired their wealth by placing such an accumulator bet. You can even mix sports in a single bet; indeed, the bookmaker will accept most wagers and will give you the odds if you enquire.
- Don’t be emotional when betting – The less emotional you are, the more chance you have of predicting the right outcome. We all have emotions and when selecting a team/player, your personal feelings should never come into play. One such example would be betting on your football team who happen to be playing the champions; you would love to see your team win, but the odds are with the better team and allowing your personal preferences to cloud the issue is never a good idea.
It can be tough to stay on top when you bet on sporting events; we recommend starting to record imaginary bets and chart your progress over a period of 6 months. If you are ahead at the end of this ‘experiment’, you should start betting with real money and hopefully, your good luck will continue.