The key to long-term profitability with sports betting is to treat any bet you make as an investment you’d make on the stock market. While betting is about having fun and making sport that little bit more exciting, if you can actually turn a profit with your punts then so much the better!
By taking an investment approach to your sports betting, you’ll need to build a portfolio of strategies to compound your profits over time. The best way to transform any betting portfolio is to include selections from professional tipsters that can generate a steady stream of profit week after week.
These tipsters are effectively your fund managers.
But how do you build a tipster portfolio from scratch? With so many ‘professional’ tipsters purporting to be making vast sums of money, how do you know which ones to trust?
Let’s take a look at some of the key elements involved in developing and refining a profitable portfolio of sports tipsters.
Review a Tipster’s Past Performance
It takes time, but it’s vital that you set aside resources to review the past results of any professional tipster that catches your eye. The ease of online marketing makes it easy for illegitimate tipsters to make outlandish claims for attention, but in truth, the vast majority of these fail to deliver consistent profits month after month.
Our top tip here is never to part with any cash to a professional tipster without asking for a comprehensive database or spreadsheet of their previous results. Any tipster worth their salt will be more than happy to share this with you; in fact, any genuinely profitable tipster will be proud to share it!
At Betting Gods, our community of professional tipsters must first pass a rigorous 16-week qualification process before being accepted into the network. This ensures their results are not simply down to sheer luck and they are capable of beating the variance of sports betting results.
When it comes to results, you need to consider not just the overall profit, but also the monthly breakdown, longest winning and losing runs, strike rate and return on investment.
Ensure Results are Independently Verified
It’s equally important that any tipster’s previous bets are independently verified to offer further peace of mind and assurance that you are paying for the knowledge and services of a genuinely profitable sports tipster.
It’s incredible easy for anyone to make claims about the profit they make. And ultimately, there’s no way to verify results until an outside, independent platform reviews a tipster.
Select Tipsters which Match your Betting Style
The best sports tipster portfolios will feature tipsters who suit your own betting style.
If you’re more risk-averse, it’s not recommended that you subscribe to tipsters that punt for good value long-shots or each way bets that only win now and then.
Mentally, this might not be the type of tipster for you and you’d probably prefer subscribing to tipsters that make safer tips and ensure a steadier drip of profits. It’s all about getting the right balance between risk and reward.
Diversify your Portfolio Across Different Sports
When putting your sports tipster portfolio together, one way to evenly spread your risk is to consider subscribing to tipsters with expertise across a range of sports. By diversifying your sports betting across football, horse racing, golf, tennis and other sports, you’re giving your bankroll the opportunity to compound on multiple fronts.
It’s very much like a financial trader would plan their investment portfolio. They try to reduce their risk by not committing their funds to just one share or multiple shares in the same industry. Consider subscribing to an equal share of tipsters that focus on favourites and good-value outsiders.
Take your Time to Prepare a Bank
Of course, no sports betting portfolio is complete without a rock-solid staking plan. Most sports bettors will look to break up their bankroll into percentage ‘points’, for example, 100 points for a £1,000 betting bank at £10. You can then set a sensible staking system that ensures you only risk a set amount of points per trade; often 1pt.
The reason so many sports betting punters fail is that they simply don’t stick to a plan. They’ll punt 4-5 points on a single bet, which loses, and then they’ll punt another 6 points to try and claw back their losses. That’s just not a sustainable way of managing your bank. Treat your bankroll as you would a business bank account.
Many beginner punters will stick to a 1 point per bet strategy. This means that you’re restricting your potential loss on any bet to just a single point. Although this will mean you’ll win less when you do win, if you can find more winners than losers you’ll continue to grow your bank.
Consider Paper Trading Initially
If you’re a risk-averse sports bettor and you want to see for yourself the potential profits you can earn with a specific tipster, consider paper trading their tips for a period of time. This way, you’ll learn quickly about their approach with absolutely no risk to your bankroll.
However, all subscribers to BettingGods.com tipsters can bet from day one, safe in the knowledge that our tipsters’ results aren’t a flash in the pan – back-tested for a minimum of 12 weeks.
Don’t Use your Portfolio to ‘Get Rich Quick’
When building your sports tipster portfolio it’s important to keep in mind that sports betting as a whole is by no means a ‘get rich quick’ scheme.
You’re unlikely to become a millionaire overnight, but with a solid portfolio of betting strategies and professional tipsters in your ear you’re going to stand a much better chance than the average punter on a Saturday afternoon, ensuring a steady drip of profits into your bank that will compound as you increase your stakes in line with your profits.
As with any other type of long-term financial investment, sports betting should be considered as a marathon, not a sprint.
In the same way that financial investors trade the fluctuating value of shares, as a sports bettor, you will be required to cope with result swings, losing streaks – and winning streaks, too!
Spotting the best value in sports betting needn’t be difficult, thanks to Betting Gods. Our approved network of global sports tipsters gives you the chance to follow our most successful tipsters and diversify your profile of sports you bet on and the strategies you employ. With no limit on the number of tipsters you may follow, why not join the thousands of punters who receive daily betting tips and transform your betting bank from today?