How to Become Successful at Sports Betting

Sports betting provides you with the exciting opportunity to earn large profits on the back of
your expertise. However, it is fiendishly difficult to earn a consistent profit when betting on
any sport.

The bookmakers are shrewd, experienced operators, and they build a house edge into all of the
markets they offer. Yet there are still plenty of ways to improve the expected value of your bets
and beat the sportsbooks on a regular basis.

These tips will help you join succeed as a sports bettor:

Practice Strong Bankroll Management

Every professional gambler manages their bankroll with great care. You should start out by
setting aside a pot of money that you can afford to lose in a worst-case situation. Then you can
assign a certain percentage of that bankroll – such as 2% or 3% – as your base unit.
That base unit is the amount you should bet on each game. If you are winning, your bankroll
will grow and your stakes will increase. If you are losing, your stakes will be smaller, ensuring
you stay in the game long enough to turn things around. Make sure you stick to that base unit
and grind out some profits.

Find the Best Odds

It is absolutely vital that you shop around for your odds. Rival sports betting sites offer
significantly different prices on the same game, so your profits can be seriously eroded by
failing to seek out the best value.

You should sign up for accounts with at least four of five sports betting sites. That means you
will have access to a very broad selection of betting options, and you can also quickly claim
the best available odds on every bet you wish to place. Certain sportsbooks regularly offer
above average prices, as they operate on low margins, so make sure you include them in your
rotation.

Claim Bonus Offers

Bonus offers eat into the house edge that bookmakers build into their sports betting markets. If
you claim free site credit via sign-up bonuses, reload bonuses, daily promotions and loyalty
schemes, your chances of securing an overall profit in the long-term will improve.
However, you should avoid bonus offers that come with onerous rollover requirements. Some
sites make you turn over your deposit amount and your bonus credit several times before you
can make a withdrawal. It is best to avoid them and stick to the sites with a 1x playthrough
requirement.

Be Careful with Parlays / Accumulators

You will notice that sports betting sites make very high margins on parlays or accumulators.
These bets are very enticing, because they provide you with the opportunity to earn large
payouts from a relatively small risk amount.

However, the house edge ramps up with every selection you add, making it difficult to compile
winning accumulators. If you want to place them, be careful with the selections you add, and
try to find a betting site that offers “parlay insurance” or “acca insurance”, whereby you get a
refund if one leg lets you down.

Become an Expert

You should ideally stick to one or two sports if you want to generate a long-term profit. Watch
as much action as you can, put in the hard work to study the statistics and become an expert on
that sport.

You should also stick to what you know. You may be an expert on the Premier League, Serie
A and La Liga, but you are taking a real punt by betting on a lower league game taking place in
Nicaragua or Tanzania at 2am.

Hedge Your Bets and Seek Arbitrage Opportunities

Some professional bettors have mastered concepts such as dutching and arbing, whereby you
essentially cover both options on a bet and lock in a guaranteed profit regardless of the result.
This involves exploiting the discrepancies in the odds offered by rival sportsbooks. These
discrepancies are known as arbitrage opportunities.

You should also hedge your bets if possible. If you bet €100 on Real Madrid to win the
Champions League at the start of the season, and Los Blancos reach the final, bet on the other
team to ensure a profit either way.

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