Top Tips on How to Make Money Betting on Your Favorite Sports

Sports betting has been around for some time as a favorite pastime by many. Of course, aside from the excitement and thrill it gives to a usual game of football or horseracing, you can also make money from it. In fact, a good amount of money in betting, that is also why many people wants to try their luck to make money betting on their favorite sports.

Although you can bet in your favorite sports, you can however bet on many other sports that might give you interest. Although you may not know much about how the game is played, you can still bet, minimize losses and maximize wins for as long as you have a system in place.

Here are a few tips that can help you on how to make money betting.

– Understand that losing is part of sports betting and in some point or another, you may have your own share of losses. One thing that you can keep in mind in betting is to be comfortable working with risks and learning to accept losses. Of course, you don’t have to just wait for your win, but you have to also have a strategy to maximize winnings and reduce risks.

– To make money in betting on your favorite sports, it is important to understand the different types of bets and the risks and rewards that you can get out of it. Indeed, one of the keys to big winnings in sports betting is knowing where to put your money. Different types of bets have different risks and rewards, thus being familiar with what types of bets can give you the good winnings with a manageable risk and help you on how to make money betting in sports.

– Only play the amount that you are willing to lose. Even if you have lots of money in your bankroll, it is still important to consider putting at risk an amount that you are willing to lose. Otherwise, you will be dwelling on your losses and chasing them that you forget to stick to your strategy and forget the fun of sports betting as well.

– Have a system and stick to it. Sports betting can be tricky as there are a lot of risks involved. Although there is no single formula to make sure you win in sports betting, there are some tips that can help you make wiser decisions when it comes to betting.

– In any sports you are betting, do your homework and research on the teams and their past performances. There may be no formula to be winning always in sports betting, but a few research would help you minimize the risk and maximize your profits as well.

If you want to make money betting on your favorite sports, it is important that you have the courage to face risks and the ability to accept losses.

How to Profit From Sports Gambling

The goal for sports punters is to earn a profit whilst enjoying our favourite sport. The sad truth is that for the majority of gamblers, this is an elusive dream. However by developing and carefully following a stratagem anyone can make this dream a reality.

There are two factors to consider to profit from sports gambling:

  • Bet Selection
  • Staking Plan

Bet Selection

The first, Bet Selection, is obvious – we need to back winners at least some of the time. Let’s consider Horse Racing, anecdotally there are many professional punters who earn a comfortable living from picking horses, but the key word here is professional. Research and analysis of each horse in the 59 racecourses across the UK takes a sizeable amount of time and experience. If you want to be successful then it’s a full time job! For the majority of us this means we have to use the advice of experts to do some of the legwork for us.

Horse Racing Tipsters

UK horse racing has no end of self-proclaimed “experts” on the Internet charging up to £100 per month. When selecting a horse racing tipster the most important factor we need to consider is long term results.

The Internet is awash with tipsters who have had one good month but then go on to post a loss for the next six – but you will only see this one month on their home page! Never follow any tips without first checking the tipster’s full result history. Choose a tipster who publishes all their horse racing tips history, ideally where the results of the tips are published the next day along with a complete history of all their tips.

Take a look at a Tipster Proofing site such as Racing-Index who grades the results for a number of tipsters. Consider which tipster gives you gave for money and fits with your own betting profile – can you actually place the 100s of tips each month some tipsters require?

Following tipsters alone is not likely to earn us riches – the best tipsters are locked out for new members or charge such high rates that any profits are lost immediately. The solution is to develop our own system using tips from expert sources combined with our own research. This is the strategy successfully used in greyhound racing by followers of the site. As with most things; the more you put into your system the more you will get out.

Staking Plan

Once we have a betting strategy in place it is time to look at a staking plan. The simplest is Fixed or Level Stakes where we simply bet the same amount, for instance 2% of our initial betting bank, each time on our selected horse, however we would want to increase our wagers as our betting bank grows. This leads to Percentage Staking where a percentage of the current betting bank is wagered each time. This means as we win our stakes are larger and conversely the stakes shrink when the betting bank decreases.

However, intuitively we know these staking plans to be overly naive as we would be putting the same amount of money on a horse with low odds compared to a horse with high odds. As we are looking to maximise our profits we should be putting a larger stake on a low odds bet as the return will be less.

To find the optimal staking plan we could take a correspondence course in statistics and dedicate several years into research. Fortunately we live in age where this research is at our fingertips. From probability theory we have the Kelly Strategy where the optimal percentage of our betting bank is calculated from the odds of the bet and our own estimate of the probability of the horse winning.

Using an online Kelly Strategy Calculator just feed in the values to get the percentage of the betting bank to put on each horse. Now the Kelly Strategy can give us some scary percentage stakes if we have an initial run of high odds horses so we could adapt it to a Half Kelly Staking Plan where we wager half the percentage advised by the Kelly Strategy. This would result in a slower accumulation of gambling profits but a less hair-raising ride.

The most important sports gambling advice to heed is only bet with funds you can afford to lose. Always gamble responsibly – if you feel you need help and advice with problem gambling visit http://www.gambleaware.co.uk.

5 Top Tips to Win More at Sports Betting

Have you had enough of losing your money to the bookies? Then check out these five tips on how to beat the bookmaker.

1. Claim Free Bets

There are many, many bookmakers out there competing for you business and most of them will offer you a free bet. This free bet will typically be for £20 to £100 (or your currencies equivalent) depending upon the bookie. By taking advantage of all these free wagers you really can put things in your favor when embarking in sports betting. Look at the free bet as a way of subsidizing your betting provided by the person you are betting against!

There are often conditions involved with the free wager but they are not as difficult to meet as what the casinos and poker sites have to offer. You rarely have wagering requirements (other than the first bet) and the free bet will be credited to your account once you have placed the initial qualifying bet. One of the main things to look out for is the minimum odds at which your bet must be placed at to receive the free bet. One bookie might insist that you place a bet at odds of 2.0 to qualify, while another might say the odds must be at least 1.0. Make sure you check the terms and conditions before attempting to qualify for a free wager.

2. Use Odds Comparison Software

Why would anyone not want to win as much as they can from a bet? You would think that everyone would, but the majority of people still do not compare betting odds before placing a wager. Again, with the sheer volume of bookies on the market, the difference of odds available can be huge. By choosing one without checking the market, you could be missing out on ALOT of money. The quick and easy way to compare odds is to use odds comparison software to check the best return in real time. It is such a quick and easy thing to do that it is a wonder that not everyone does it.

3. Bet on what you Know

If you are serious about sports betting then make sure you only bet on the sports you are knowledgeable on. If you know nothing about basketball, but loads about cricket, then just place bets on the cricket markets.

4. Use Odds Matching Software

There is a new piece of software out there called Odds Matcher that basically manipulates bookmakers so you can receive hundreds of pounds in free bets with no risk required. The way it works is by highlighting bets you can lay with an exchange and back with a bookie where there is no loss potential. For each bookmaker you do this with you will receive a free bet and again – there is no chance of you losing a penny.

5. Follow Betting Tips

There are a whole shed load of sites out there offering betting tips and it is important to distinguish the good from the bad. For example, you do not want to be following guidance provided by a ten year old on his old man’s computer. Check out the Racing Post, Sporting Life, and GG.com, all of which have some very seasoned betting professionals writing for them.