There is one aspect of sports betting that is shared by the vast majority of players. The fact is that most regular sports bettors will end up on the losing end in the long run. Most players who prefer to bet on sports over playing in an online casino participate in sports betting for the fun and excitement. They often fail to observe what it truly takes to become successful and make a profit.
Successful sports bettors look at the activity as an investment, paying dividends over time. Unfortunately, recreational players don’t usually see sports betting the same way and won’t invest the time or use the proper strategies to win. The following steps are what serious bettors should follow if they want to stop losing when wagering on sports:
Have a Starting Bankroll
The saying is that it takes money to make money. Unfortunately, most players make the mistake of not having a bankroll when they start betting on sports. Anyone who wants to take sports betting seriously and make a profit should have a starting bankroll of at least $1,000. Betting smaller units won’t make much of a difference if you’re looking to be a winner, as the long-term results will put bettors on the losing side who don’t use the strategy of having a bankroll.
Margins in sports betting are very thin, with the break-even point for players being around 52% after accounting for the vig. Bettors winning more than 60% of their wagers is extremely rare, meaning the difference between winning and losing is only a few percentage points in either direction. Keeping that in mind, the most important thing bettors need to do is learn how to manage their bankroll properly.
Learn To Be Disciplined
One of the biggest reasons sports bettors lose is they sometimes become anxious and place bets to have some action on the board. Unfortunately, bettors are mostly throwing away their money without proper research before placing wagers.
Winning at sports betting requires patience and discipline. Without those two attributes, players have guaranteed themselves to become losers.
Like any investment, sports betting takes time to make a profit. Therefore, players should pick and choose their wagers carefully and never have too much action down at once. Players making 10-15 wagers every day need to reevaluate their strategies as it’s impossible to do the proper research with so many picks on the board.
Be Careful with Parlays
It’s a great feeling for a sports bettor when they can hit a parlay. The fact is that the chances of hitting even a three or four-team parlay are pretty low, with the player usually losing one leg. Three of those bets would have been winners if that money were invested into individual wagers instead of a four-team parlay. Of course, the payout isn’t as much, but the player comes out ahead.
No matter how many times players want to parlay, just keep in mind that in the long run, you will be a loser. There is no strategy or formula for winning parlays. Often, playing them is a losing battle that will set any player up for heartbreak.
Have An Investment Approach
Being profitable betting on sports is not quick money. It’s about building wealth over the long term and not just trying to get the quick double-up. Investing in the stock market gives an average return of seven to ten percent on investment.
Players need to be satisfied with the small returns, which will add up over time. This is a critical step for not losing when betting on sports.
Have a Solid Strategy
Successful sports bettors always use a proven strategy that helps them build their profits. Players who blindly pick games based on a gut feeling will lose eventually.
There are different strategies used by successful players, such as line shopping or betting on the middle, to increase their chances. The key is to study the system you think is best and be consistent in following all the rules regarding it, which will result in profits.