In this report, I would like to present the ten most important rules for successful sports betting to betting beginners and possibly also experienced betting friends.
1). Strategy is everything
It is important to invest a lot of time to look for value odds or estimate reasonably. To sound out your strengths, that means in plain language that not everyone likes soccer odds or that you are hardly successful with a normal three-way bet, but in the two-way bet all the more. As soon as you have found your strength, you should only use it. If on certain days you do not find any interesting odds on the current betting market, then it is time to take a break. So, you also learn to discipline yourself.
2). Mathematics as a basis
To be successful with sports betting, mathematics is indispensable. Since no one can predict the outcome of an event, the odds (and thus the percentage outcome) are the most important prerequisite for successful sports betting. It is important to have the probabilities of the often-occurring odds roughly in mind.
3). Money Management
What efficient money management means is not clearly defined. However, four basic elements of successful money management can be identified. The betting budget is known and is only used for betting. The amount of betting capital must be such that a total loss has no drastic consequences on everyday life. The money management system used is designed to maximize winnings. Whether fixed stakes (always the same stake amount) or variable stakes (stake amount is constantly changed), the number of bets must be determined with the help of efficient money management. As a guideline, you can bet between 2 to a maximum of 5% of your bankroll per bet.
Admittedly, often there is a huge summer slump and if you do not have the necessary discipline, you simply look at the daily program and blindly bet on an odd without having estimated correctly beforehand. Such a thing can go quite fast into the eye. If you have your strengths in ice hockey, then for them the summertime is the vacation time when betting. Make calmly a break, to win distance from numbers and Co. Especially after a negative losing streak, a few days, even weeks, can do wonders.
5). Understand the value of bets
“Value”, the term is haunting the world of sports betting and yet some bettors do not know what Value actually means and that it is only Value that can play sports betting a profitable business in the long run.
Value is translated as “worth”, but in the language of sports bettors it is understood as “added value”. Added value in the sense that the bookmaker’s odds for a particular event are set too high. The bookmaker’s odds should always be set against your assessment. For example, if I think that Team X will win a match with a 50% probability, then the fair odds would be 2.0 (= 1/50*100). However, a bookmaker offers odds of 2.30 for the win, which corresponds to a win probability of 43.5% ( = 1/2.30*100). If my estimation of the probability is now better than that of the bookmaker, then I have just found a “value bet”. Of course, value bets can also be lost – in the example mentioned, 50% if the assessment is true.
Playing value bets does not mean winning every bet. What is important is the long-term perspective. Because if my assessment is better than that of the bookmaker, then I will inevitably make a profit in the long term.
6). Find the best odds
Since the odds always represent the percentage profit expectation minus bookmaker tear down, finding the best odds is a very important requirement to succeed with sports betting. You can find a good odds comparison on the betting base.