Most people bet for a reason. For some people it's the fun of it all, but most people are really trying to make some money and win big. With all of the available methods of sports betting today, people are making more bets than ever before. We can make bets any time of the day or night, on any event or game, right from the comfort of our home.
But is it possible to really win a good deal of money, and keep doing it over the long haul? Many people win big once but lose small 20 times, and so it evens out or worse, you end up losing money.
You need to learn some key strategies and techniques that can keep you in the game and winning over an extended period of time. These include really knowing and researching the sports and events you betting on, taking time to make smart decisions and hoping that every now and again, you run into a streak of perfectly timed good luck.
Consider a few of these factors to keep in mind.
Setting Your Bankroll
You have to determine, before you ever place a bet what your total bankroll is. Once you figure that out you have to stick with it no matter what happens. Emotional betting and trying to make up for losses or close calls only will hurt you in the long run.
This is the first most important rule, you have to set a limit to the amount of money you are willing to bet with and can safely bet with. No matter what happens, you follow this limit and you always use money that you can afford to lose.
You always want to limit the size of your individual bets, capping out at about 10% of your total bankroll. Larger bets can seriously hinder your long term success and they can leave you in trouble when one small thing goes wrong and leads to a surprising loss.
Having Discipline
The second most important rule of sports betting is that you should not increase your bets or make more bets to try to make up for a previous loss. This kind of emotional betting can wreck you and your bankroll.
You should never try to chase your losses and make up for a defeat. If you're losing a lot or you feel like you're having terrible luck, take a quick step back and reevaluate before you bet again. Remember, there's always another day.
You also need to have discipline when you are winning. Don't become overconfident and start making huge bets or outlandish bets when you're on a winning streak. Stay in control and stick with your system. Don't make the mistake of thinking anything is a guaranteed win either. Every bet carries a risk, so never think otherwise.
Another way you have to use discipline is by avoiding favoritism, or betting on your favorite teams in every game. You are betting to win and betting to make money, so be sure to separate your fandom from your betting.
Handicapping Bets
You have to remember that a betting line represents two things, the way the public feels about the game and the amount of betting done on each side. It doesn't necessarily paint a picture of which team is better or which team will win. Therefore be sure to evaluate the situation for what it's really worth and make a wise decision. Do all of your homework on the teams involved, from players, coaches, lineups, changes, weather conditions, injuries and so on and make the choice you feel is backed up with the most evidence.
Take advantage of available forums and online sources of information. Other people have a wealth of knowledge about various games and teams, so why not use this knowledge for your own advantage? Ask other experienced gamblers for tips and advice, and always be prepared to offer some of your own when somebody asks about your local team or your area of expertise.
Also keep in mind that trends and past performances don't count for too much. If a team lost all away games following home games dating back 10 years, why does that matter? Surely the players and coaches are different now, as are many other factors.
But is it possible to really win a good deal of money, and keep doing it over the long haul? Many people win big once but lose small 20 times, and so it evens out or worse, you end up losing money.
You need to learn some key strategies and techniques that can keep you in the game and winning over an extended period of time. These include really knowing and researching the sports and events you betting on, taking time to make smart decisions and hoping that every now and again, you run into a streak of perfectly timed good luck.
Consider a few of these factors to keep in mind.
Setting Your Bankroll
You have to determine, before you ever place a bet what your total bankroll is. Once you figure that out you have to stick with it no matter what happens. Emotional betting and trying to make up for losses or close calls only will hurt you in the long run.
This is the first most important rule, you have to set a limit to the amount of money you are willing to bet with and can safely bet with. No matter what happens, you follow this limit and you always use money that you can afford to lose.
You always want to limit the size of your individual bets, capping out at about 10% of your total bankroll. Larger bets can seriously hinder your long term success and they can leave you in trouble when one small thing goes wrong and leads to a surprising loss.
Having Discipline
The second most important rule of sports betting is that you should not increase your bets or make more bets to try to make up for a previous loss. This kind of emotional betting can wreck you and your bankroll.
You should never try to chase your losses and make up for a defeat. If you're losing a lot or you feel like you're having terrible luck, take a quick step back and reevaluate before you bet again. Remember, there's always another day.
You also need to have discipline when you are winning. Don't become overconfident and start making huge bets or outlandish bets when you're on a winning streak. Stay in control and stick with your system. Don't make the mistake of thinking anything is a guaranteed win either. Every bet carries a risk, so never think otherwise.
Another way you have to use discipline is by avoiding favoritism, or betting on your favorite teams in every game. You are betting to win and betting to make money, so be sure to separate your fandom from your betting.
Handicapping Bets
You have to remember that a betting line represents two things, the way the public feels about the game and the amount of betting done on each side. It doesn't necessarily paint a picture of which team is better or which team will win. Therefore be sure to evaluate the situation for what it's really worth and make a wise decision. Do all of your homework on the teams involved, from players, coaches, lineups, changes, weather conditions, injuries and so on and make the choice you feel is backed up with the most evidence.
Take advantage of available forums and online sources of information. Other people have a wealth of knowledge about various games and teams, so why not use this knowledge for your own advantage? Ask other experienced gamblers for tips and advice, and always be prepared to offer some of your own when somebody asks about your local team or your area of expertise.
Also keep in mind that trends and past performances don't count for too much. If a team lost all away games following home games dating back 10 years, why does that matter? Surely the players and coaches are different now, as are many other factors.
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