Best Strategies for Sports Betting

Manage your Budget

The first thing that every successful sports bettor knows is key is to set a budget that you can afford and stick to it.

Once you’ve decided on a budget (be it daily, weekly or monthly), you’ll want to choose a unit size. Unit size is the amount of your budget that you intend to wager on each bet, and many experts recommend choosing a unit size of between 1 and 5% of your total budget.

Establish your Goals and Levels of Risk

If you’re a cautious bettor, you might want to stick to low-risk bets that can potentially bring you a small profit with a greater chance of success. In betting terms, these types of bets are often referred to as ‘favourites’.

However, if you have a higher risk tolerance, you might want to go for longer odds by placing bets on underdogs or unlikely events.

Be Realistic

Punters sometimes talk of being on a “winning streak” and, of course, there are those who blame losing streaks on bad luck or duff tips.

However, it’s important to know that even with all the experience in the world and the top sports betting strategies at your disposal, the most successful bettors only win around 55% to 60% of the time.

So, be realistic about your returns, but equally, if you think a particular strategy is working in your favour, stick to it!

Review your Previous Performance

Most sports betting sites and mobile apps allow you to view your previous betting transactions to see whether your bets won or lost and how much money you gained or lost.

By reviewing your previous performance, you may be able to sport particular trends which can help guide you when making future bets.

Bet Smart

If you truly want to “bet smart”, don’t let your heart influence your head. By this, we mean that just because you support a particular team or player, you shouldn’t always bet on them to win.

Equally, gut feelings and déjà vu are not always the most reliable methods of deciding which bets to place.

Know When to Cut your Losses

There’s a great saying, “there’s no point flogging a dead horse” and you should bear it in mind when placing your bets.

There’s no point throwing more money at the bookies when you’re obviously having no luck.

So, don’t be tempted to go over your budget. Simply cut your losses and try again another day with a clearer head.

Stick to What you Know

Many punters have an interest in multiple sports, but one of the simplest sports betting strategies that you can implement (in the early days at least) is to stick to just one, and preferably the one that you know most about.

With a better understanding of the teams, venues, managers, and players, you’ll already have the edge on the bookmakers.

Shop Around

Before placing any bet, it’s always worth comparing the different odds and lines that are being offered by different bookmakers.

As bookies always add a “vig” to their lines, you could intentionally be lessening your potential profits if you fail to compare and identify which operators are offering the best odds.

Use Hedging (With Caution)

We’re sure that you’ve heard of the term “hedge your bets”, and when it comes to successful sports betting, it’s a term that you might want to put into practice.

The hedging strategy involves placing wagers on a different outcome to your original bet so that you reduce the level of risk while simultaneously ensuring a guaranteed profit whatever the result.

Keeping Learning and Sharing

Each punter has preferred betting strategies, as well as experience in different sports. So, it makes sense to ask for recommendations and also share your own tips with fellow bettors.

You can do this in your local pub or via online forums – whichever is most convenient for you.

Be Patient

To become a successful sports bettor takes lots of patience, so don’t beat yourself up if employing these betting strategies doesn’t help you turn a massive profit on day one.

Have a budget; have a plan; don’t be afraid to learn from your mistakes and fellow punters, and most of all, have fun!