If you think just picking the team that you think would win is all it takes then you’ve been treading the wrong part as a bettor. Why? Because you’re far from the truth. Having this mindset as a bettor is one of the causes of leaking bankroll and zero profits. In this article, we would be discussing things to consider while making your betting selections and also the right way to make these selections. When you’re done with this article, you will be more exposed to what it takes to be a successful punter. First and foremost, what is the “right way”?
Table of content:
Meaning Of The “Right Way”
The “right way” we’re talking about is the right way to make selections. Any random person could make a selection and bet, but it’s not just about making selections, it’s about making the right selections that would give you a better chance of securing wins and making more profits. Professionals don’t see sports betting as a way of having fun but rather a serious business. Becoming a successful bettor isn’t easy. An intelligent strategy is required for making selections.
Below are some things you should consider while making selections:
➢ Be on the look for values and not winners
What does this even mean? This looks weird because every bettor wants to win and the only way to win is to stake on winners. Value is also crucial for your success in sports betting. The best way to effectively explain this is by proving a fact. As a bettor, you can have a good winning record that is, you win consecutively, but have still lost more money than you have gained. You could also have a bad winning record that is you lose very often but has gained more money than you’ve lost. The point here is that not all stakes have the same worth. If you’re a fan of favourite betting, you would definitely win more but wouldn’t be making much money. On the other hand, if you’re an underdog betting fan, you would most likely lose lots of games but earn much more in the long run. For example, let’s say you place bets on four separate favourite games with odds of 1.20 for each game and a stake worth $100 for each game. Fortunately, you won 3 out of the four stakes but technically, this means you lost $40 because each game is expected to yield a $20 profit. Winning 3 of your bets means you gained $60 and lost $100 leaving you with a net loss of $40. Why is this important to every bettor while making selections? Anybody can come out and pick lots of favourite games and stake on them to keep a good winning record. It takes a professional bettor to come out and make bets that would yield huge profits. This professional move is termed “making bets for value”. If you want to succeed in betting try to be on the lookout for bets that have value.
➢ Implied probabilities
Implied probability has to do with the odds. It’s the probability that odds imply. Odds of 2.50 don’t just tell you how much profit you would make from the bet but also tells you the likelihood of your bet winning based on that number. To effectively make use of this nugget, you will need an “implied probability calculator”. There are several implied probability calculators online, you could easily get any. How this calculator works is that you oil insert the odds of the game where necessary then click convert. The calculator then displays the probability of your bet winning.
The probability is always in percentage. Let’s say for example you insert game odds, and you get an 80% probability result. This basically means you have got an 80% chance of winning the bet. Therefore, your payout would be in relation to the chance of winning. Now, here’s what we are talking about. You should be on the lookout for bets whereby the implied probability is LESS than what you actually presumed (predicted probability). Bookmakers pay based on the probability of something happening. The less likely it is for the presumed outcome to come through, the more profit you earn.
The more likely it is for the presumed outcome to come through, the less profit you earn. Knowing a good value like this would make you pick the best bets and earn more in sports betting.
➢ Underdog picks
Every bettor should understand that there’s value in underdog picks. It’s advisable that you bet on underdogs frequently. Remember, sports betting is not just about winning the next bet. It’s about making lots of cash in the long run. The more bets that you make with great value, the more cash you are going to acquire in the long run. Not everyone is aware of this underdog strategy because small teams are major turn-offs for bettors. One thing about underdog betting that you should know is that it takes more stakes and selections for you to make your profits.
Moving on, let’s now discuss some game selection strategies you could also employ in sports betting:
- As a beginner, you’re most likely going to win lots of cash when you start. This is often regarded as beginner’s luck, and it doesn’t last. As a professional bettor, you shouldn’t pick your selection based on normal assumptions, rather you should imbibe the habit of good preparation and analysis of the games before staking.
- Simple maths calculations could also help in sports betting. For example, in a match between Bayern Munich and Dortmund, the odds for Bayern to win is 1.33. On a probability scale of 100%, the chances of winning this bet are 75% according to the bookmakers. After figuring out the bookmaker’s perspective, you can do your own calculations using REC my games played by Bayern. If after your calculation you discover that your result was lower than that of the bookmaker you shouldn’t place bets on the game, but if you get a higher percentage, you can carry on with the bet.
- Lastly, you shouldn’t let greed get the best of you. Let’s say you lose £10 in a game, you now decide that your next stake and odds would be higher than the one you lost because you want to recover your loss. You shouldn’t do this as it would only lead to further losses. Try to be patient, and you can always get your cash in the long run.
Conclusion
A professional bettor doesn’t rush to make decisions in sports betting. Success in sports betting requires patience and commitment. Learning these strategies takes time, which is why as a bettor, you have to create ample time for betting if you really want to earn big.
