We often get asked how to win consistently in sports betting. Most punters find it difficult to make consistent profits from betting on sports but, by following a few simple steps, we aim to show you how to become a successful sports bettor.
Hopefully, you’ll learn a lot from our article about how to win consistently in sports betting. But if only take one thing from it, make sure it’s understanding the concept of value in sports betting.
What you need to understand is that the odds offered by bookmakers are just their opinion of the probability of that selection winning. They then reduce these odds slightly, because bookmakers bet to what is generally referred to as an overround book.
An overround book is when the odds offered by bookmakers add up to a percentage bigger than 100%. For example, if the odds add up to 110%, a bookmaker will make a 10% profit if they can lay all the runners to lose the same amount of money.
But as the odds offered by bookmakers are just an opinion, you can still make a profit from sports betting if your opinion of what the probability of a selection winning is more accurate. For example, if you think a horse that is priced up at 3/1 by the bookmakers should only be a 2/1 chance, you will take this bet all day. This is called finding value and, if you can consistently find value selections, you have a genuine chance of winning consistently in sports betting.
Specialise In Sports You Know
One dilemma that many punters face is they like betting on a variety of sports, because they like to have a betting interest in all the sports they like to watch. But not many people have an in-depth knowledge of lots of sports, and that makes it difficult to consistently find value bets if you spread yourself so thinly.
Many professional gamblers make a living by betting on just one sport, while others are good enough to make a profit by betting on two or even a few sports. You need to find what works for you but starting by concentrating all your efforts in one sport is what many successful professional punters do.
Staking Plans And Betting Banks
Lack of cash flow is a problem that many unsuccessful punters suffer from. Be honest, have you ever bet all your spare money on a selection you really fancied, and it’s lost? Worse still, have you then wanted to bet on another selection you fancied but didn’t have any money, and it’s won?
Whether you’ve struggled with cash flow problems in the past or are considering gambling for the first time, it’s important to get your staking plan and betting bank right.
There are a variety of staking plans out there, such as the Martingale and the Kelly Criterion, which are based on mathematical analysis. You may want to consider these, but most professional gamblers prefer to use a points-based staking plan.
Points based staking plans are based on an average per point stake, for example, £10 per point. You may choose to limit the points you bet to between one and five, and you bet more when you think the bet offers more value.
For example, you may bet 1 point on a selection at 7/4 (2.75), when you think that the selection is a 13/8 (2.675) chance. But you may wish to have 5 points on a selection at 2/1, when you think the real odds should be even-money. Just remember, value is only your subjective analysis about the probability of any selection winning.
Once you have decided on your staking plan, you then need to start betting with a proportionate betting bank. If you’re using the £10 per point, one to five pints staking plan, a betting bank of between £1,000 and £2,000 is advised. If you consistently bet at short odds, then the lower betting bank should suffice. If you prefer to bet at bigger odds, then go for the larger betting bank.
Your betting bank is there to give you the cash flow to make sure you never miss a value bet and cover any losing runs that you may experience. By having a betting bank, you should be able to come through any losing runs and still have money left. Of course, if you lose your betting bank, gambling may not be for you.
One of the biggest advantages of winning consistently at sports betting comes is you will have more money. What you’ll need to decide is what you want to do with this extra money.
You may decide that after you’ve won, for example, £1000, that you will treat yourself to a holiday. Alternatively, once you have grown your betting bank, you may decide to increase your per point stake. Of course, you can also split the money you make, reinvesting half of it and spending the other half.
Let’s say that you successfully double your £1,000 betting bank within six months, so you now have £2,000. You take £500 and treat yourself to something, and you now have £1,500 in your betting bank. You increase your per point stake to £15 and continue betting for another six months.
If you enjoy the same 100% increase in your betting bank in this period, you’ll now have £3,000. You can take out £750 and start again with a betting bank of £2,250 and bet at £22.50 a point. This example highlights how quickly you can increase your betting bank and per point stake exponentially, and still treat yourself with some of your winnings.
Of course, if you’ve set a target of winning more money for something special, leave your profit in your betting bank and increase your per point stake more until you hit your target.
Follow Professional Tips
Now you understand value betting, staking plans, and betting banks, the big question is, have you got the knowledge and skills to pick value priced winners? If you have, it’s time to show the world how to win consistently in sports betting.
If you don’t think you have the skills to pick valued priced winners, don’t worry, there’s still a way that you can win consistently at sports betting. Many professional gamblers also provide tips for a variety of sports, and you can follow their advice.
Whether you want to bet on horse racing, football, basketball, cricket, tennis, NHL, golf, or any other sports, you can find a tipster that serves your needs.
We hope that’s showed you how to win consistently in sports betting.