Having a betting strategy is key for anyone wishing to make good returns at a bookmaker for the long-run. Not every bet you make will be a profitable one, that is pretty obvious, however a strategy can minimise risk, which is something that everyone should do to make their journey a sustainable one.
We understand not everyone needs tips, but there are sports that punters might not be familiar with, for example GAA betting, which is why we find these tips useful to some bettors. Nevertheless, the following tips we would recommend for you and your future
sports gambling journeys ahead are listed below.
The basics of betting strategy
There are multiple forms of betting that you can become familiar with, however the two central concepts that we will mention today, are the concept of value, and the bankroll management strategy. These are key and are huge game changers for those that are looking for really successful days ahead when gambling in the future.
Value betting
So, the first strategy that we advise you to try out within your gambling journey, is value betting. How it works is, for every set of odds that is offered by bookmakers, they come with something called an implied probability. Implied probability means that the odds shown are what the bookmaker really reflects the event to occur as. This could therefore be shown as the outcomes of a loss, draw or a win for sports like the UFC, football and so on. Odds at 1.75 or ¾, have an implied probability of 57.1% overall. So mathematically it would bode
well for you to go for this in your betting choices moving forward.
Detecting the right bet values will allow you to really reap in the rewards later on, so that you can reel in the most profit for yourself on your journey. With odds that weigh more in your favour, you will as a whole be winning more than losing, which is what every gambler looks to make happen when they start betting.
Bankroll Management
The next thing that you need to take into account is bankroll management. This is probably really important and a discipline to get into the habit of. Why? Well, it can make you last and have a more persistent chance of a long-term presence in gambling. Most people think that when you gamble sustainably, it gives you more reason to see profit, as you know when to let go of possible losses. The habit that bettors get in the habit of doing is splitting up their bankroll according to the amount of times, days or a complete time span that you want your budget to last you for. The starting percentage of gambling that has been proved as rather successful, 1 to 3% of your entire bankroll per bet. This should help you diversify the amount of risk that you will be exposed to and improve the handicapping skills that you develop on your gambling journey.
Return on Investment
Return on investment is the yield and profit that you make on what you put into something. This is a gold rule that you need to keep checking and keep in mind on your journey. Usually, this will help you figure out how sustainable your gambling habits actually are. Meaning it is a good idea that you keep a consistent habit of checking your ROI, every week and month, to really know how much you are making from your spending habits in gambling. Seeing the numbers will help you make more achievable goals for the long term, and hey, mathematics never really lies!
Gambling Fallacy
A gambling fallacy is where a bettor will make sure to understand that each bet and outcome is always independent of the next. This is something many people neglect to keep in mind and it really truly can make a messy set of gambling habits to keep hold of. A great way of explaining this is, imagine you place a bet on the roulette wheel for a black bet, and a red pocket outside bet ends up showing up. Many people would think well, a red one has made an appearance, so a black should be due next. This is not the case and each outcome is always independent of one another, meaning a red could very much occur again. That is just how it happens to work in the world of gambling. Learning this concept will certainly help you gain discipline for your bets and be able to let go when the outcome does not appear to be in your favour. Rookies would keep betting, just because they do not understand this key concept, and it can be disastrous to your bankroll.