Photo by CC user Neier on Wikimedia Commons
Is it possible to make money in the long run from betting on sports? This is a common dream shared by many fans, but few ever turn a profit on their picks in actuality. Is it possible to make money from choosing the winners of athletic contests?
It can be if you make the right choices from the start, and remain dedicated to working hard and remaining calm when things don’t go your way in the beginning (as they often do).
If you are ready to make sports betting a profitable hobby of yours, check these sports betting tips, as well as the ones listed below…
1) Establish a bankroll that is separate from your primary bank account
While this tip may not have anything to do with gaming the system or reading between the lines of a bookie’s odds-setting strategy, establishing a bankroll that is separate from your chequing account is essential to becoming a successful sports bettor.
Even the best in the business fall victim to the variance that is inevitable in this game. Edges in pro sports are often razor-thin, which can result in a sports bettor losing for weeks on end, even if they are doing nothing wrong.
By opening a separate bank account and funding it with 100 bets at your preferred limit, you can ride out the swings that every professional sports bettor goes through at one time or another.
Standard bets should never exceed 2% of your bankroll at any given time, and you should reduce them to anywhere between 0.5% to 1% of your bankroll if you are not confident in the outcome of a game.
Never, ever chase losses by betting increasing amounts of money to win back what you’ve lost on any given bet. Instead of martingaling your bankroll into oblivion, view the process of sports betting as one long session; this way, you won’t feel the pressure to win back any failed bet.
2) Never bet on your favorite team
Emotion is your worst enemy when one is attempting to take up sports betting as a serious hobby; in no area of sports does emotion run higher then when your favorite team is playing.
Never place a bet on the outcome of any game in which your favorite team is involved, nor any bet that has anything to do with the game itself (goals scored, penalties, etc).
The professional sports bettor performs at their best when they analyze a night’s slate of matches with a cold but analytical mindset; when your home team is in the mix, this is next to impossible to do.
3) Always be doing your research
The average sports bettor relies on clichés and innuendo to make their choices, and it is because of these uneducated choices that your average bookie makes a killing on a yearly basis.
As a sports bettor that is looking to incorporate facts, logic, and reason into your decision making process, it is incumbent upon you to faithfully consume as much sports media and relevant information sources so you can make the best picks possible.