You lunaspins88 need to be critical. If you are not, this is not for you. Sure, you can be sure that a favourite at odds of 1.25 will win, but is there any value in the game itself? Plenty of times we’ve heard casual gamblers say: “There’s no risk of losing this bet.” – Absolutely clear favourites, but is the probability of them winning better than the odds on offer? Betting this way is a bit like buying a Mercedes at an inflated price and claiming it was a steal just because you think it’s cool and cool. Sure, you might be happy with your car anyway, but unfortunately the same principle doesn’t work at all for sports betting. Betting value is a simple concept, but most bettors don’t really know much about it. And maybe that’s fortunate, because the betting market is largely based on these “naive” gamblers who have a far too skewed view of various odds – and then those of us who have read up can take advantage of this fact and recognise a value bet for real.
2. SIMPLE MATHS
If you’ve ever uttered the phrase: “I know zero maths…” then don’t venture into the betting world headlong. Some gamblers may be able to achieve short-term success by betting by feel and instinct, but long-term success requires you to be more analytical and get to grips with different terms, such as whether the odds reflect probability, etc. If you can do this, you have a much better chance of success. In short, it’s a numbers game – and you should have a reasonably good grasp of the maths so you’re not completely out of luck against the bookies.
3. LEARN TO UNDERSTAND HOW BOOKMAKERS SET THEIR ODDS
This will depend on the popularity of the match/event, but in general the bookmakers’ odds will reflect how the public is expected to play – rather than the actual probabilities. Of course, it’s not quite that simple, but generally bookmakers will set their odds to attract bets on either side of the odds to balance their credibility (and extend their commission). This gives smart players little room to find good betting values – where the public opinion is simply wrong. It also means it’s possible to find over odds on big events where many people are just playing for interest. This could be betting on the Super Bowl, the World Cup football final, Wimbledon, for example. As the public on average has very little knowledge of the teams/players, the odds simply become favourable to us more educated players with more knowledge of the situation.
4. THE FEELING OF FINDING TEAMS/PLAYERS THAT OTHERS DO NOT SEE POTENTIAL IN
The longer I’ve been betting on sports, the more in love I’ve become with the team that no one else seems to like. In fact, the worse a game looks on paper, the better it feels. Might sound a bit strange, but the less the public likes a team the more game value I can see. Especially teams that have been doing well for a long time but have had a bit of a dip in the last 4-5 games. If the average Joe skips a bet because the game doesn’t seem interesting/the team in question has been bad, the odds may be in our favour and once again, a value bet has revealed itself.
5. DON’T CRY OVER SPILT MILK
Don’t depress yourself too much over a lost bet. If you have faith in what you are doing, you simply have to continue with your plan, just like in online poker, for example – you can’t win every hand. It’s also important not to be lulled into any false sense of security after a few wins in a row. Be harmonious, level-headed, and smart. We’re all different and if you know you’re struggling to keep your emotions in check, simply take up yoga or something else that can calm your mind and help you become a successful tipper.
6. WATCH OUT FOR COMBINATION BETS
Combination games, jackpots and other enticements from the gambling companies are usually not a good idea if you want to make money in the long run. Here you need to clearly consider what is worth playing and what is not. Sure, a large prize is often offered, but if you have not done a thorough analysis, it can be a real trap. Let’s take a closer look… If you place a combination bet, say 4 matches in total a’ 2.00 in odds, worth a total of 16.00. Another bookmaker offers only 1.90, but you think “that’s almost the same thing” and place your foursome at odds of 13.00. That’s a difference of 3.00 in odds! A lot in the betting sites. If you really want to place these combination bets, you’ll at least have to make sure you find the absolute best odds to outweigh the risk.
The average bettor will usually place ten
7. LONG-TERM THINKING & LIVING ON THE GAME
Making a living at gambling is something most people dream of. After all, it would be amazing if you got rich overnight. However, the probability of that is almost zero, of course. Thinking long-term and building up a gambling account is really the name of the game in the gambling industry. You may think that one month is plenty, but you need at least a full calendar year to make judgements. The stakes you place can also increase over time and who knows… you might even be good enough to make a living from gambling, but you’ll need a big buffer and careful planning if you’re going to make a living from gambling in the end.
LIVING ON GAMBLING
Making a living from gambling requires hard work, dedication, bookkeeping and a large buffer.
8. REASONABLE STAKES
If you want to make money, you need to start with a gambling account that has the ability to take some losses. If you are going to bet in units, with an average bet of 1 unit, I would recommend a gambling account of at least 50 units as a minimum. Let’s say you start with 1000 Euro in your betting account. 1000 / 50 units = 20 Euro. So this is your unit you will bet on each game – which may not sound like much when you have half a Svensson’s salary in your betting account, but this is simply how we have to work in order not to risk the losses affecting us too much and also eventually going broke with our account. But with 1000 euro your account, you can obviously climb quite fast. Once you have doubled your investment, you can now play for Euro 40 per match – and then we start to make money for real. Let’s say you now have 2000 euros in your betting account. You decide to bet a maximum of EUR 40 per match for a whole year, no matter how well things go. Your return ends up at 5% (which is a good guideline). You place a total of 500 bets. 500 bets * 40 Euro = 2000 Euro bet. 2000 * 1,05 (return) = 1000 Euro profit. Your account is now at 3000 and next year you can play for 60 EURO instead!
Many people fall into the trap of thinking that playing for euro 40 every now and then is enough to become a pro – but that’s not really the case. But if you do your homework and instead place around 2500 bets a year with a lower return, let’s say 4%, you will quickly calculate a net profit of 4000 euro. That’s 3000 euros more than the previous example. But also, a lot of time and love invested.
9. NOT HAVING THE NEED TO “MAKE IT INTERESTING”
We’ve heard it plenty of times: “Oh, sometimes I play just because I think it’s fun!” It’s certainly good and healthy, but if you want to be a successful bettor, it’s something you might do 5 times max in a year, (you need to relax and have fun with your betting too of course).My tip is that if while you’re playing on a casino for long term, you also want to add some fun to your everyday life: join a betting competition, fantasy league or something else sports related that doesn’t cost a lot of money.