One of the most commonly asked questions is “How can I improve at sports betting and beat the bookies?”
If everyone had the answer, then the bookmakers would be out of business! The reason that they are able to come out on top so often is because they like to stack the odds in their favour. It is like when you are playing at a casino, the house always has an edge.
The key to becoming more successful in no matter what type of gambling is to do whatever you can to swing the odds in your favour. There are many different ways in which you can do so.
This will allow you to be more consistent with your sports betting winnings and show the bookies whose boss once and for all!
Make sure you are always thinking about value
This is absolutely vital if you are to come out on top in the long run against the bookies. If you do not understand the meaning of betting value, then you will most likely not make profits over the long term when it comes to betting.
While you may be certain that a hose is going to win a race, if they are very short odds, they will not provide you with any value. The probability of the horse winning the race and potential reward you get from backing them is not adequate.
The goal is to find bookies who are offering good value on certain markets, where the odds are greater than the probability of the selection winning the event. This means that you are getting more bang for your buck thanks to the better price.
Most gamblers don’t understand the concept of betting value, which is why you can get a great leg up on the bookies by incorporating this into your betting armoury from here on out.
Know how the bookies set the odds
When it comes to odds offered on a market, they often depend on how popular the event or market is going to be. Often times the prices will reflect what the odds setters think the punters are going to play, rather than reflecting the actual probabilities of the outcome.
While there is more that goes into it than that, this is the core principle. Bookies want to attract betting on both sides of the market, so their potential liability is minimised and they will get a nice commission.
This leaves room for smart gamblers to identify good opportunities for value betting when the general public’s opinion is blatantly wrong. The public might be convinced that a team is going to win a cup final, but you know that their opponents also have a great chance and as the public have been betting on the one team, the other team will have favourable odds available to you.
This is why there are going to be better value to be found on events that are popular, as many casual punters are placing bets and skewing the odds in your favour.
Fall in love with the ugly duckling
When you have been engaging in online sports betting for a certain period of time, you will more than likely take a fancy to a certain team or person that is not very popular. You may see things that others for farther away do not.
The less the public fancies the chances of a team or even simply does not like the team, the better it is for you in terms of betting value. This is especially the case if they have not been performing well for a certain period of time and the public have lost faith in them. You will see the value rise and rise just in time for you to pounce when the time seems right.
Live in the present
It can be very easy to get caught up in your past glories or your missed opportunities. You want to avoid this at all costs. You don’t want a losing to run to throw you off your strategy or have a win inflate you ego and lead to you making certain mistakes. You want to keep a level head and let your strategy and analysis do the work for you, taking emotions out of the equation.
Don’t rely on hitting it big
When it comes to online sports betting, everyone will have heard the stories of that punter who placed a couple of dollars on a twenty team football accumulator and it won, leading to them winning hundreds of thousands of dollars.
While you think that bookies would not be happy about making these types of losses, they actually use this as a marketing opportunity. They actually make a lot of money from people attempting these bets every day, so they are looking to entice even more people into doing so by showing them the potential winnings.
You need to know when you should use these multi-bets and when you should leave them alone. Unless you have located multiple sources of good value, they are a really poor way to bet.
The key to finding a great multi-bet is finding value in multiple areas that you are fully confident in.
Have access to multiple bookies
The best way in which you can quickly take advantage of any signs of good value is to have a portfolio of different bookies at your disposal. There are so many different options to choose from in this day and age, you would be silly if you weren’t taking advantage of the variety of odds that are being offered across different platforms. Different odds setters work for each bookie, so they are likely to have different opinions on how an event is going to turn out.
This means that you should use an odds comparison tool to see which bookie lines up the best in terms of value bets you are looking at. You will be surprised at how much of a difference in odds there often is between different bookies.