Sports betting might be fun and all, but we couldn’t lie to ourselves. Most of us have the same goal of making money. Yes, betting might make watching sports more exciting, but at the end of the day, we all want to walk away with some profits in our pockets.
But that’s easier said than done. If someone has created a strategy allowing him to win every single bet, we would already know about that, plus there won’t be sportsbooks popping out on every corner.
This suggests that sportsbooks are profitable, and most people don’t win any money wagering on sports.
But I would say that you can change that. Being more informed will allow you to make better decisions. No, you won’t win every single time, but that’s not the goal here. The goal here is long-term profit.
Yes, the house always wins, but you can deploy strategies that will increase your winning chances, like in any online casino, such as oc88.com.
So, is there a secret when creating a winning sports betting strategy? Is there something that professional bettors see that we as normal people don’t?
Not really. Even professional bettors with years of experience can make mistakes and lose money. After all, that’s what makes sports betting so exciting. The uncertainty of such events makes us like Indiana Jones looking for the next treasure in the form of a sports bet.
So, what can you do to win more money?
Let’s find out.
Understanding the Basics
Types of Bets
Before you even think about placing a bet, you need to understand the different types of wagers available. Here’s a quick rundown:
- Moneyline Bets: Simple and straightforward. You pick a winner.
- Point Spread Bets: Betting on the margin of victory.
- Over/Under Bets: Wagering on the total points scored by both teams.
- Prop Bets: These are bets on specific events within the game, like who will score the first touchdown.
- Parlays: Combining multiple bets into one. High risk, high reward.
- Futures: Betting on long-term outcomes, such as who will win the Super Bowl next year.
Key Strategies
Bankroll Management
Let’s start with the most boring yet essential part—money management. Imagine your bankroll as your precious, fragile little egg. You don’t want to drop it all in one go.
- Set Your Bankroll: Decide how much money you can afford to lose. Seriously, only use money you’re okay with parting ways with.
- Establish Unit Size: A unit is a percentage of your bankroll, typically between 1-5%. This keeps your bets consistent and helps manage risk.
- Flat Betting: Stick to betting one unit per bet. It might seem tedious, but it keeps you in the game longer and helps avoid emotional decision-making.
Research and Analysis
You wouldn’t walk into an exam without studying, right? The same goes for sports betting.
- Analyze Trends and Statistics: Dive into historical data to identify patterns. Look at win-loss records, points scored, margin of victory, and home versus away performance.
- Evaluate Team Performance: Check player injuries, head-to-head history, current form, and home/away records. This helps you make informed decisions rather than gut-based bets.
Value Betting
This is where you find bets that are mispriced by bookmakers. It’s like finding a $20 bill on the street.
- Identify Value: Look for discrepancies between the bookmakers’ odds and your calculated probability of an outcome.
- Bet Selectively: Only place bets where you believe the odds are in your favor.
- Long-Term Play: This strategy yields incremental profits over time. It’s a marathon, not a sprint.
Line Shopping
This isn’t grocery shopping, but it’s just as crucial.
- Compare Odds: Different sportsbooks offer different odds. By shopping around, you can find the best lines and increase your potential profit.
- Utilize Odds Comparison Tools: Tools like those from Odds Assist or Action Network can help you compare odds across various platforms quickly and easily.
Arbitrage and Middling
Arbitrage and middling are advanced strategies that require a sharp eye and quick reflexes.
- Arbitrage Betting: Bet on all possible outcomes across different sportsbooks to guarantee a profit. It’s low risk, but requires vigilance and speed.
- Middling: Bet on one side of a line early, then bet on the other side after the line moves. If the final score falls in the middle, you win both bets. It’s like threading a needle, but the rewards are sweet.
Advanced Techniques
Prop Betting
Prop bets offer a goldmine of opportunities, mainly because sportsbooks often misprice them.
- Research Extensively: Look into player performance, team strategies, and situational statistics.
- Find the Overlooked Bets: Since fewer people bet on props, there’s often more value to be found.
Hedging and Progression Betting
These strategies are for the cautious optimist.
- Hedge Betting: Place a bet on the opposite outcome of your initial bet to secure a profit or minimize loss.
- Progression Betting: Adjust your bet size based on your win/loss history to capitalize on winning streaks and recover from losses. Just be careful not to overextend.
