Some people participate in sports betting as merely a hobby; a fun activity to pass the time. Others, play more competitively and do everything in their power to outplay the bookies.
If you’re new to sports betting, it can be quite risky. But, it also can be highly profitable, if you know what you’re doing.
That just goes to show you that it’s entirely possible to outsmart the bookies – especially if you know their secrets.
You need to employ a solid strategy to make some real money, though.
Bookies are basically your opponent, so it’s all about out-smarting them, and ultimately beating them, so you can make a profit.
Ready to finally make money sports betting?
In this post, we’re revealing the betting secrets that the bookies don’t want you to know.
1) Use Money Management To Make Money Sports Betting
Poor money management can lead to serious losses, more so than picking the wrong teams. But, there’s more to it than you’d think.
When you think of ‘money management’ you likely think of budgeting or something along those lines. But, this is a whole other playing field.
If you know how to manage your cash-flow correctly, you can increase your odds of winning.
Getting started with money management to beat the bookies:
Open a specific bank account for sports betting. Don’t use your own personal bank account. You’ll want to make sure this money is extra money – money you can afford to lose.
Be sure to deposit enough money in your account for the whole season. This is your bankroll. it’s crucial to have enough in your sports betting bank account for the whole season, not just for one game.
You want to make sure you have enough bankroll by multiplying your base bet. Multiple your base bet by 50 (or more). Keep this amount in your sports betting bank account at any given time.
Figure out how much your wagers will be. Once you have opened a bank account strictly for sports betting and deposited your bankroll, you will need to figure out how much your wagers will be. It’s a safe bet to wager 1-2% of your total bankroll. Never go over 5% though.
Money management is essentially laying the foundation for your success. If you want to beat the bookies, don’t skip this step. The number one reason why people lose money is because they haven’t gotten their money management situated.
2) Follow With Your Brain, Not Your Heart
Now, this may seem silly, but I can assure you, it’s essential to you success.
Follow your head, not your heart, when it comes to sports betting.
You’re going to be tempted to bet on your favourite team, and this is what the bookies are banking on.
The fact is: Your favourite team isn’t always going to win. In fact, they may not win at all. You can’t bet on a team just because it’s your college football team, or because you’ve been a die-hard fan for your whole life.
You need to bet based on the form, odds, or tipster advice, not because you want someone to win, or you just have a ”feeling” they’ll win.
This also means that betting on the underdog can be a smart move. If you’re betting on the underdog when the odds are right, you could end up making some serious money.
Bookie’s generally want you to bet on the popular teams, but the popular teams aren’t always the teams who win.
So follow your head with this one, and you’ll make money sports betting in no time.
3) Have Multiple Bookmakers (Bookies) Accounts
To get the best bang for your buck and ensure you make money sports betting, you need to shop around and think about having multiple bookmakers.
By having multiple bookmakers, you have the ability to decrease the bookmaker’s odds.
Different bookies offer different odds, so if you take the best odds, the book maker’s margin drops to around 1.5% or lower.
So, this means your odds of making a long-term profit go up.
Bookmakers don’t want you to know this. Especially since bookies don’t always play fair. So you’ll want to stack the odds in your favour as much possible.
Shop around and make sure you’re not sticking with only one bookie.
4) Use Maths To Outsmart The Bookies
First, you will need basic maths knowledge to be able to make money sports betting using math. But the rest can be self-taught.
Next, you’ll need to get familiar with odds-to-probability.
It’s recommended to calculate the odds-to-probability for every bet – every single time you place a bet.
Basically, you will need to figure out the probabilities for each potential outcome and consider them with your odds.
Then, you would obviously place your wager on the one with the higher probability than the bookie’s odds.
The idea is that you’ll eventually know your odds better than the bookies.
And usually, bookies will make their predictions based on what everyone else is doing (the public), so this can be to your advantage.
If you do your research and learn about different math techniques, you will stack the odds in your favour.
After all, most of gambling is just a numbers game.
Gambling is big business. There’s no doubt about that.
Sports betting has taken the world by storm with all the possible places online and in person, that you can participate in it.
If you want to make money sports betting, it comes down to a few simple factors:
Use money management to your advantage. This is not something people often think of. But you can bet the bookies are aware of this fact.
Follow your brain, not your heart. Don’t place a bet on a team just because you enjoy watching that team play.
Shop around and get multiple bookmakers. This decreases the bookmaker’s odds of beating you.
Use Maths to defeat the bookmakers. Know your odds-to-probability ratios. And don’t place your bets based on the public is doing.