Online sports betting can turn into one of the most profitable hobbies if done properly, but the number of players who actually succeed in beating the bookies is low.’ Chances are increased dramatically if you follow a set of golden rules’ said John Pentin, an expert from a UK betting guide website.
We have mentioned some of the key ones in this guide, and hopefully, it will help players to achieve long term profits. Making mistakes is not that dramatic if you learn from it and try to avoid them in the future.
The Importance of Odds
The first thing online betting rookies have to learn is the importance of odds. The whole betting business is built on the odds. Odds are showing the probability of a certain outcome for one sports event – the higher the rate is, the outcome is less likely to happen.
If there is a big favorite to win a match, the odds are obviously going to be lower. More experienced bettors can get a picture of a certain event just by looking at the odds, not knowing much about the participants or teams. What new players struggle to notice is the value.
Sometimes bookmakers tend to underestimate certain teams and offer higher odds for particular outcomes. Bookies are using several algorithms to create odds, which is an opportunity for players. Recognize good bets, back it with proper stakes and you will earn a profit in the long run.
There are many guides on how to calculate the probability of an outcome online. A big majority of these are free and our recommendation is to do a small research.
Another thing important for online sports betting is to compare odds and have accounts with multiple bookmakers.
What if one betting operator offers 2.10 odds on your favorite team, while the odds on the same event are at 1.90 with your local bookie? Make sure to always get the best odds and profit margins. There is a couple of great software available that will compare the odds across the internet for you.
Selection of Bets & Stakes
We are about to kill one of the biggest myths when it comes to online sports betting. Huge, big accumulators are not going to net you profit in the long run. The winning percentage of a 12-fold accumulator is insanely low. Even though the potential winnings are super-lucrative, we strongly advise you to stay away from these.
Placing a big acca from time to time with a low stake just for fun is fine, but expecting it to land multiple times in one month is delusional. Beginners should focus on doubling or tripling small stakes in the beginning. Find the niche you know the best, be consistent with strategy and always be in control of your betting bankroll.
One of the most fun parts when it comes to sports betting is to find correct bets and profit from it. Aiming for jackpots and big returns are rarely to give a good result in the long run.
Setting the stakes though is a completely different thing. Not a single professional bettor became successful by placing a couple of big bets and getting lucky. One bad move can simply annual all the good decisions you made previously, so the importance of following the set of golden rules reflects here.
There are going to be multiple good and bad streaks, so it is important not to get overconfident after, let’s say, five consecutive winners. Placing half of your bankroll on the 6th is a rookie mistake.