Have you ever placed a bet before and lost all your money? If you are a regular sports bettor, you probably have read about the so-called sports punters who give online tips on which teams they predict to win. However, upon placing your stake on their decision, you only come to realize that they are professional scam artists with an eloquent marketing practice.
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Or maybe have you once fallen victim to the fraudsters that claim to sell fixed matches, while feeding you lots of deceitful proofs from images of fake results, and fake testimonials? There are no rules to betting, and no one can guarantee that you will make any profit. However, since everyone wants to make a quick buck online, you will always fall prey to such hoaxes if you are not careful.
So how do you stay away from such betting frauds and bet like a professional?
Tips you can Follow to Avoid Basic Betting Mistakes
Bet with discipline only on sports you know
Professional bettors have to exercise moderation in their betting practices. Much like a professional sportsperson, you cannot bet on games blindly without adequate information. You need to be cautious if you want to use your bankroll effectively.
Stick to the games you know, and even better, a particular league that you have enough information on. To come up with a good betting strategy, it is best if you conduct enough research about different teams. If it is NHL, look at the past #NHL retrospective to understand their past and current trends. When betting, you should never have an allegiance to any sports team. Statistics will always change.
You need to have control of every bet that you place by not letting your emotions get in the way of your wager. There are high chances of losing your bet and damaging your cash flow when you place a bet emotionally.
Manage your money with solid principles
You need to have stable control of your money to become a professional bettor. You should breakdown your bankroll into units and reduce the risks you take on a bet. Only bet an amount you can afford to lose.
You should understand that losing too much money can negatively impact your mindset and derail your efficiency. Even though there is a risk when you place a bet, you have to find ways you can reduce the risk.
Keep a track record of your monthly finances to know how much money you should stake on every bet. Regardless of what happens, never go above your budget.
Choose a percentage to bet for every stake
A bankroll management system will help you determine how much you need to bet for every game to keep your flow of betting funds. You should only place a stake in a game in the range of 2 to 5 percent of your total bankroll. Maintain this range for every bet you make regardless of whether you win or lose if you want to sustain your bankroll.
Making a smart money bet
Even though accumulator bets may seemingly appear to be enticing, it is not mathematically possible to continuously make a profit from them. If you want to make a profit from betting, you need to make smart money bets. One way you can do so is by avoiding parlays that involve more than three teams.
Instead, you can focus your money on totals bets, point spreads, and money lines. Why should you? First, there is plenty of data ready for analysis for these kinds of bets that you can use when you want to handicap the teams to create a line totals bet or spread. Additionally, the wagers do not present you with a lot of options. Your outcome will either be a win or a loss.
Therefore, you can make an intelligent decision from the facts you have about the team and select the most appealing bet to make.
Other markets do not provide you with such an option. Before placing your money in a bet, you need to have reliable information about the team you are waging on. In that way, you have a higher chance of turning a profit than losing your money.
Choose an excellent and reputable bookmarker
A bookie helps you to pay off your bets at any event on odds that you agree. You need to select a reliable bookie and one that can offer you more options when it comes to odds. However, to choose the best bookmarker, you first need to understand how they create odds.
Bookmakers create odds depending on how popular the event is and how people react to the event. They do not rely on the probabilities of either winning or losing. Instead, their goal is to make you have a hard decision in choosing either team. By doing so, they can balance out their liability and earn a commission out of your option.
If you want to succeed in gambling, you need to find bookmarkers that support you to win. Unfortunately, most will not cheer your success, and some will out rightly ban you from their platform when you register too many wins.
It is a good idea to work with established bookmakers rather than opening accounts with new bookies. Most established bookies encourage wins since they can use the information they gather to develop their betting lines.
You can as well open several accounts with several bookies if you want to get plenty of options in the games to bet and a variety of odds. It is essential to track your betting performance in a spreadsheet if you want to improve.
Look for value when selecting a bet
It is not always a good idea to bet on the crowd favorite. What matters most is how much value you get from the odds you decide to wager on. Even though a team may have a high chance of winning a game, do the odds present you with enough value for you to place a wager on them?
Numerous bettors do not understand the value of an odd before they can place any bet. Thus they leave out plenty of opportunities to make good money. But once you can detect amount, you will continuously capitalize on these odds that many bettors do not pay attention to.
It is, however, not easy to spot the value of odds when you are new to betting. You need consistent practice to pull it off.
Time your wagers appropriately
Choosing the right time to bet, is very important in determining how much you can make from a bet. There are several things you need to monitor, such as bet signals and line moves before you can make a bet.
You should also consider news about player’s performances and injuries. Any information that affects a team will ripple to the odds of a game. With changing continuously, it is best to bet on an underdog early in advance before the game day, as it may cost less.
Have a long term betting plan
Serious bettors think long term when placing their bets. Just like any other kind of investment, you need to grow your bankroll slow and steadily for you to reap the profits. You can consistently bet on each game as you continuously increase your stake with time.
If you are patient, the amount you earn will compound and grow exponentially. You may have to deal with losing streaks or winning streaks. However, you should not let it get into your head. Instead, stick to your analysis and believe in your betting strategy.
Work on a proper betting strategy
When new to betting, it is only right is you stick to the basics and only place wagers on games you know. The goal of betting is never about making more profit but reducing the losses you make. Therefore, you should assess all the risk factors surrounding your bet before placing it.
Determine the right amount you should stake depending on your profit and loss and keep a record of your betting trend. Always have a plan of how much to spend on betting and do not deviate from it. Bet your money slowly and steadily, and you will grow your bankroll in no time.
However, avoid the impulse of increasing your betting amount after one win. You should only focus on math rather than your guts. Every type of bet has its merits and demerits. You should choose one when you are entirely sure how it works. One good betting strategy you can use is matched-betting.
It is one of the risk-free match betting practices you can employ to grow your bankroll. It involves canceling out the risk of a back bet by matching your stake with a laying bet of the same odds. The process consists of taking advantage of a bookies promotional offer and using their free bet to create a profit.
You may be wondering whether matched betting works. Yes, it works! The gains may be small, but they can quickly add up with time. If you want to become a professional bettor, you have to exert time and dedication to the craft. You need to gather up enough knowledge in the various sports and work on a fool-proof betting strategy to beat bookmakers and rake in profits.