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Sports Betting Tips to Succeed
To become a successful sports bettor and develop a winning sports betting system, you need dedication, persistence, attention to detail and an analytical mind. These qualities will ensure you have the necessary mix of perseverance and discipline, as well as the skills required to succeed in sports betting. Of course, it also helps if you like watching sports and are good with numbers. Even if you have these fundamental qualities, you may find that your sports betting is not as successful as it could be. I suggest the following general sports betting tips to help you succeed…
The importance of record keeping cannot be underestimated. Without a sufficiently detailed sports betting log, the task of tracking and identifying your record becomes nearly impossible. I suggest recording at least the following information: odds, units bet, type of bet, result, bookmaker. By recording this information over time, you will be able to analyze it and determine which bets are the most successful, and therefore adjust your betting habits appropriately.
Money management is another key to becoming a successful sports bettor. After establishing a bankroll for your sports betting, I recommend you apply the Kelly Criterion to determine the optimal betting unit. You can then change the amount of your bet by betting multiples of your betting unit. In other words, if your system indicates a large difference, you can increase the amount of your bet by betting 2 or 3 times your betting unit as defined by the Kelly criterion. Again, it’s important to track your results so you can see the success of your multiple betting unit bets.
The internet makes it much easier for sports bettors to compare bookmaker odds. By comparing odds, you can place your bet at the bookmaker with the best odds. It should also be kept in mind that the odds may fluctuate before the game is played. A general rule of thumb is to bet early if you plan to bet on the favorite (because odds for favorites often tighten as money rolls in close to the match), and bet late if you plan to bet on the underdog. (for the same reasons).
By following these general sports betting tips, you can become a successful sports bettor.
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