The online gambling industry is booming and there are more people than ever before signing up to casinos, sportsbooks and bingo sites. Many people enjoy a sensible wager on their favourite sport or a few spins on the video slots to help unwind at the end of a busy and chaotic day but very few can lay claim to making a steady profit. Despite very few bettors expecting to make their fortune this way, there are a few rules and disciplines which should be followed to minimise losses and maximize the possibility of profit.
Source: Up to the Point via Twitter
Whilst many players have made a profit from online slots sites, sports betting is generally seen as a punter’s best chance of outsmarting the bookmaker. Contrary to popular belief, you don’t need to know every single sport inside out or have an encyclopedic recollection of every player to achieve betting success. It helps to have a working knowledge of the sport itself and if you are able to specialise in one particular area, this is beneficial. There are many online databases available; for example, basketball bettors no longer need to ensure they catch every single NBA match as the official league pages offer comprehensive coverage and statistics.
Knowing the Betting Markets
This is absolutely key. Anyone who is new to online betting is advised to study the betting markets before leaping in feet first. Follow the progress of a particular match and make mental notes of the constantly fluctuating betting markets. You’ll begin to get a good idea of how each match-event affects the odds and this will eventually help with picking out value mid-match. It’s no surprise that betting in-play has increased significantly in popularity over the past few years as it gives bettors complete control and occasionally offers the opportunity to make amends for misguided pre-match bets.
If a pre-game favorite is too short for your liking, knowledge of the betting markets will help identify the correct time to get involved. For example, if one side are overwhelming favorites and expected to cruise to victory, rather than accept the insufficient pre-match price, wait until the 30th minute and if they still haven’t made the breakthrough, the value is likely to have increased substantially.
Savvy bettors generally place their wagers in advance in order to secure the value. Key injuries will generally result in odds fluctuating and it can be frustrating if value is lost. Horse racing ante-post markets are particularly popular especially ahead of events such as the Kentucky Derby or the UK’s Cheltenham Festival. One recent example has seen a market reshuffle following Death Duty’s withdrawal from both the RSA Chase and the JLT and, as explained by Oddschecker, this has been a huge blow to ante-post bettors who had already backed Gordon Elliott’s charge for success at the festival. If you’re getting involved in these markets, always seek a bookmaker which offers non-runner insurance.
Source: Racing UK via Twitter
Finally, discipline is absolutely essential. Most successful bettors will have a ‘bank’ which they use for wagering purposes. Every player has a different system and it’s important to never chase losses or throw money at a bet for the sake if it. If you can’t see an attractive looking wager, step away. Profitable sports bettors are those who carefully select their events and don’t go in search of a bet due to boredom. Also, don’t wager on an event that you know nothing about simply because you’ve received a tip from your mate or somebody down the pub.
Betting can be a profitable experience but it is generally a slow process and doesn’t always come easy at first. Keeping tight control over finances is essential but it’s also important to stick to what you know and always shop around for value.