You firstly need to develop your knowledge of the sports you want to bet on to the point where you can make an analysis of how you think matches, tournaments, and leagues will play out. You also need to be able to factor in other considerations, such as motivations, player changes or injuries, etc.
Once you feel comfortable analysing the sports events you want to bet on, it’s not just a case of always betting on the most likely outcome. It’s important to understand where the ‘value’ is in the bets that are available.
Great knowledge, sound analysis, and understanding value are fundamentals that all successful sports bettors need, but you’ll also need to have discipline. Can you walk away from a bet that you think will win but doesn’t offer any value? Can you put together a betting bank and grow it without jeopardising your chances of being the most successful sports bettor you can be?
We’re discussing all of this and more in our article about how to bet on sports successfully. And don’t worry if you think you might fail because, even if you don’t currently have the skills you need to become a successful sports bettor, there’s still a way that you can make money betting on sports.
Become Knowledgeable About The Sports You Want To Bet On
Most successful sports bettors specialise in one sport, but some build up the knowledge to cover more than one. It doesn’t matter whether you want to specialise in horse racing, football, golf, tennis, or even something obscure like cockfighting, providing you have what it takes to make a profit betting on your chosen sport.
Professional sports bettors spend lots of time both watching their chosen sport. They also digest a lot of information, whether it’s news feeds that keep them up to date of the latest happenings or analysing the statistics and data that is freely available online for most sports now.
The more hard work you put in, the more knowledgeable you’ll become.
Analysing Matches And Tournaments
Once you’ve accumulated a lot of knowledge about a sport, you can apply it to your analysis of any match or event you’re thinking about betting on.
As part of the hard work you do to become a better sports bettor, it’s a good idea to make predictions on events, even when you’re not having a bet, then analysing why your predictions came true or not. This way, you’ll quickly build up an understanding and a formbook that will help you bet better in the future.
If your focus is on horse racing then our how to read a race card guide, found here, might be useful reading:
You’ll be amazed how much better you get at betting when you spend time to make predictions and analyse why they came true or not.
Understanding Value In Betting
Value is a concept that punters who lose rarely consider. It’s easy to look at a match between two tennis players that are priced up at 1/5 (1.20) and 4/1 (5.00) and say that the 1/5 shot is much more likely to win. But betting blindly on short-priced favourites is a mistake that many punters make.
It’s important to understand whether the 1/5 (or any other odds) offer a value bet. By value, we mean the odds are bigger than they should be.
For example, if a tennis player has beaten an opponent nine times in their previous ten matches, then 1/5 would be an excellent price, providing there were no other influences that suggested otherwise.
However, sports betting is rarely this simple. A good sports bettor will factor in whether players are improving or regressing and doing this will often allow them to find value.
For example, head-to-heads might show that player-A has won nine of their last 10 matches, but player-B won their only previous match on clay. Today, they’re playing on clay, and suddenly the 4/1 for player-B to win suddenly looks the value bet.
How To Use A Betting Bank
One of the biggest mistakes that rookie sports bettors make is not knowing how to use a betting bank. Let’s say that your average bet is £20. It’s not a good idea to just try and find £20 whenever you fancy a bet.
What you should do is set aside a sum of money to be your betting bank, money that you don’t need to touch for any other reason. If your average bet is £20, this betting bank should be between £1,000 and £2,000. Go for the lower amount if you bet at short odds and the larger amount if you prefer to bet on outsiders. Your betting bank will see you through any poor runs and still leave you with money to bet.
Having a betting bank also makes you feel like you don’t have to chase losses. Sure, your betting bank goes down during a poor run, but it’s easier to see how a good run will quickly recover any losses and turn those losses into profits. There’s no need to chase losses, just wait for the next good bet that fits your system and offers you some value.
Once you start growing your betting bank, you can take your profits out and spend them when you hit an agreed milestone. You can also increase the size of your average bet. Or, for example, when you double your betting bank, you may wish to split it into two betting banks and start betting on two different sports.
Follow Professional Sports Tips To Become A Successful Sports Bettor
If a lack of knowledge, an inability to find value bets, or a lack of discipline is leaving you wondering how to bet on sports successfully – make betting on sports easy by following the tips of professional sports bettors.
Free tips and subscription tips are available, and all come with advised stakes, making these tips easy to follow in just a few minutes. There’s no need for you to have a great knowledge of sports, just follow the tipster’s advice and start betting.
We advise you start by following just one tipster but, once you start growing your betting bank, you’ll soon know how to bet on sports successfully.