The difference between being a winning or a losing bettor is a difference of a couple of percentage points. Professional handicappers lose 40-45% of their bets, and if those losses are not managed in the correct way, your profit margin will sink as quick as the Titanic. By using these basic strategies, you will instantly
become a smarter bettor.
Finding value in your bets is the best place to start, because if you do, you’re automatically going to win more. When I think about value, I can’t help but think about the TV show Pawn Stars. The premise of the show if you haven’t seen it is they are a pawn shop that buy items from people off the street, among other things of course.
Rick Harrison, one of the shops owners, is a shrewd negotiator that will not buy anything unless there is real value in it. Even if he brings in a professional appraiser to price the item, he will always pay less than half of what the item was appraised at. It’s the only way to win, and help give you the best chance to profit over a long period of time.
Let “square” bettors sway the line in your favor, and then jump on the value. Players that constantly wager on heavy moneyline favorites just aren’t finding the best value being offered on the betting menu that day.
Take your emotions out of play all together. You need to develop a strategy and stick to it. No matter if you have files and files of excel spreadsheets or you pay for a pick service, however you decide which games you are going to wager on, don’t deviate from the plan.
When talking emotions, having a “homer” attitude and betting with your heart, bad beats and being intoxicated would all fall under that category. Betting on your team is lots of fun, but can sometimes be a bankroll killer. If your team is having a “down season”, and betting them to cover has been detrimental, have a look at other betting options for that game. Live betting will offer you a full array of betting options all game long.
Bad beats lead to players “going on tilt” with alcohol being the fuel that could fire it. Do you think casinos serve free alcohol to those gambling because they like them? Going on tilt refers to a player that gets upset at something and let’s his/her emotions take over, leading to bad decisions.
How many bad stories have you heard that start with, “I was out having a few drinks, and…..” Although many things will affect how we react, alcohol is one that is readily available and goes hand in hand with sports. Be sure to set a budget and follow it, which leads us into our last point.
Establish a bankroll, set a budget, formulate a unit size and stick to it. These four steps will not only help with the first two strategies, but money management may be the most important thing to consider when considering what will make you a smarter bettor.
To even consider making any money betting on sports you will need a start with a sensible bankroll. One that is big enough to take a few hits and not be a worry. The only definite in sports betting is that there will be ups and downs. Most smart gamblers will use units, which would break down into a % of your bankroll. You’ll see an average of 3% per bet, with pros taking it up to 5%. Units are good when you feel confident about a wager (higher unit value) and when you’re iffy about an outcome (lower unit value).
Budgets vary, but using a combination of yearly, monthly, weekly and daily practices is most common. Not only will these give more order to your wagers, but it will also help to stop you from chasing your tail after a bad beat and a few too many tequila shots.
This article definitely wasn’t providing any breaking news, with all these strategies being common every day things, but the amount of bettors that overlook these is astounding. Don’t tell the sportsbooks, but by following these three basic strategies, you will be winning more and losing less.