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Betting On Sports – 6 Rules For Winning
People all over the world like to bet on sports. Since you are reading this, you are probably part of this majority. While some do it just for fun or to make watching a TV match more exciting, there are others who will always bet on their favorite team or player, period. However, there is a third elite group who bet on sports with one and only goal in mind… to make money. Whichever group you belong to, sports betting should be treated the same as any other financial investment. To be done correctly (and profitably), here are some very crucial rules to follow.
Rule #1 – Use Good Money Management – This is the most overlooked rule and is why Vegas keeps building all these multi-billion dollar casinos. Never bet more than you can afford to lose, so be honest with yourself about what you can comfortably set aside for leisure or otherwise. Second, never bet more than 2% of your total bankroll on a single bet. If you set aside $1,000 for the game, your individual bets should be in the range of $20 and no more. If you win, the 2% per bet automatically increases as your bankroll increases. Conversely, if you are on a losing streak and the bankroll decreases, your bet sizes will decrease accordingly. Inexplicably, wins and losses often come in streaks, so slowly raise your bets on a hot streak and back off on the cold streaks. Stick with 2% and never double up and chase lost money.
Rule #2 – Never Perform Under the Influence – To coin a phrase, “Talk when you’re drunk and you’ll probably give the greatest speech you’ll ever regret.” The same sensible theory applies to sports betting. Drugs (legal or not) and alcohol can cloud your judgment and cause you to make decisions you wouldn’t normally make. To be successful at anything, your mind must be 100% clear and functional. If you’re on medication, drugs, or alcohol, or are just in an upset or disturbed mood, be smart and don’t play until you’re back to 100%.
Rule #3 – Spend time shopping – This can be compared to buying a new car or even buying groceries. Always look for the best prices or the best numbers. Winning odds and point spreads are not set in stone in any industry and on any given day can vary widely from store to store. Thoroughly research several sports books and compare the numbers. After checking several well-established and solid options, choose 2 or 3 of them, then divide and deposit your initial bankroll equally between each of them. Then, before making your bets, check each book and always take the best number on your particular event. Over the course of a year, that ½, 1, or even 2 point difference will come into play multiple times, and believe me…it will be a lot of money.
Rule #4 – DO NOT PLAY Parlays or Teasers – Parlays, teasers and other exotic bets are offered for a reason. Yes, you can bet a 3 team bet, and if you win it normally pays around 6 to 1 in football and basketball. If it were really possible for anyone to consistently pick 3 out of 3, parlays (and teasers) wouldn’t be offered by sportsbooks. Stick to direct action only. If you bet on 3 teams in a row and only win 2 of the 3, you have just won money. Hook them all together in a bet and you have to win all 3, or you’re sunk. This is a proposition for losers only, so don’t do it.
Rule #5 – Do Your Due Diligence – As a bettor you normally have the opportunity to do your research well before you have to make that final decision on a bet. This gives you an automatic advantage over the bookmaker, so use it to the fullest. Perhaps one of the best ways to win at sports betting is to find your own special niche and follow it closely. For example, if you live in California and become a PAC 10 expert, you can increase your chances of winning by focusing solely on your niche.
Rule #6 – Seek a Professional – There is a wealth of valuable information available on the internet, but you need to take the time to do proper and thorough research. Most people just don’t have the time to properly study things like past stats, line movements, trends, angles, precious lines, inflated numbers and much more. Watching ESPN and/or reading opinion pieces from sportswriters on the internet is not the right way to do your homework. If sports betting is more than just a recreational pastime, or if you simply don’t have the time or resources for Rule #5, seriously consider hiring the services of a professional sports handicapper. If you are sick, you go to see a doctor. If you really want to win more bets than you lose, you should listen to a professional.
Whether you are a recreational player or just doing it for profit, may you always have more winners than losers, and always remember to have fun along the way, but play by the rules.
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