Are you a cold-blooded gambler?
Do you want to make sure that you take calculated risks?
We crafted a mini guide that touches on the main strategies that will help you gamble wisely.
Though nobody can predict the Stanley Cup champions with 100% certainty, there are a few practices that will keep you out of trouble.
If this type of information is what you are looking for, make sure you grab a pen and paper. We are about to reveal our list of 10 things every sane gambler needs to know.
1.Winning Percentages and Betting Units Explained
While most gamblers look at winning percentages first, betting units are actually more important.
Betting units reveal how much money a group that bets on a certain team wins or loses.
Experts recommend you use a standard amount of money for each bet and spread out your risk. Most use 2% of their bankroll.
No matter what percentage you choose to use, make sure you keep it consistent through the entire season.
2. Risk Management
Risk management is usually the most ignored strategy in the betting world. If you want to transform your hobby into a source of income, no matter on what you are betting on.
Whether it’s horse racing or the Stanley Cup champions, you must learn how to manage your money.
One of the best risk management strategies is to spread your bets out and keep your betting wage consistent, no matter how small it is.
3. How Much Should You Bet?
If you are a beginner when it comes to betting on the Stanley Cup champions, you should ask yourself a few questions.
Do you want to to take a more aggressive approach? It’s usually recommended for a beginner, and even professionals, to use between 1% and 2% of their bankroll.
Why not more?
The most aggressive professional betters typically bet 3%. If you increase your betting size unit to 5%, the risk becomes too significant, and you can lose even half of your bankroll.
4. Betting Against the Public
Keeping an eye on trends is the best way to get the most out of a sports bet.
Betting against the public is one of the most popular ways to use trends to your advantage. If you get lucky and the impossible becomes possible, you could earn a large amount of money, since everyone else is wagering for the other side.
Make sure you don’t invest more than 1% from your bankroll on bets against the public because these can be quite risky.
5.The Reverse Line Movement
This strategy is similar to betting against the public. When you use this strategy, make sure you look at the betting percentages.
For example, if one team in the Stanley Cup champions is the favorite of the public, and 80% of the public is betting on the team, you should be in the 20% who bets on the least favorite.
This method requires some research and good timing. Betting on the last favorite blindly doesn’t always end up well.
6.The Best Line During the Whole Season
If you are quite certain that your favorite team is going to knock everyone out during the whole season, maybe you should place your bets on them.
Since you are probably betting on a team that is most likely the favorite, or the second favorite, your winnings won’t be as big. But it is a much safer route.
7.Use Flat Betting When Looking for Stanley Cup Champions
Flat betting is the safest route to success. It means you bet the same amount of money for every game. If you increase your bet size based on the last bet, you expose yourself to a lot of risks.
You may have heard about systems that advise you to increase your bet size based on a series of play, or based on the “potential” of one team.
This usually encourages betters to place large amounts of money on one team. When that happens, you put yourself at risk of losing large amounts of money.
Flat betting will keep you afloat no matter how unpredictable the Stanley Cup champions is.
8. Pay Attention to the Statistics
Hard data is impossible to beat.
Before you place any bets on the Stanley Cup champions, make sure you get yourself familiarized with the teams, their history, and their potential.
Many place bets on certain teams just because their friends are fans or their family believe they’re the best team on the planet.
Research the team you’ve set your eyes on, and make betting decisions based on cold, hard data.
9. Never Bet With Money You Can’t Afford Losing
If you want to make some money from sports betting, it’s going to take some discipline.
First of all, make sure you only place a bet with money that you comfortable with losing. What if your favorite teams lose?
How are you going to pay your rent?
If you place bets with money you don’t afford to lose, then you are limiting your ability to take calculated risks.
Make sure all the money you place on bets isn’t vital to your survival.
10. Write Down Your Failures and Successes
Few keep records of their money lost, as well as their winnings.
It’s important to keep track of everything to make sure you are on the right path. Many people add more and more money to their bankroll without seeing any successes.
Writing everything down will also keep you accountable. It enables you to track how you spend your money. Your records should feature the following:
- The team you placed your bet on
- The odds the team had
- The stakes
- The return on your investment
Sports betting is not an exact science. However, staying informed saves you from making foolish mistakes.
Make sure you always keep track of the money you invest in sports betting. Also, look at your odds, and always bet based on a strategy that minimizes your risks, such as flat betting.
To find out more about how you can get the best out of sports betting, take a look at our blog, where passionate sports betters share their secrets.