Now that sports betting is legal, you are raring to get started this season!
But how do you make sure you don’t lose too much? Or better yet, how do you actually make money on sports gambling?
Here are some betting strategies to get you started.
In order to actually make money while betting on football, there are a few strategies you need to employ. Never fear, we have you covered.
Don’t Chase Losses with Bigger Bets
If you lose, don’t bet more the next time you place a bet. If you have a budget (doesn’t sound very exciting, does it?), you need to stick to it. Place between 1%% and 5% of your season bankroll on each bet and you will do fine.
Professional bettors often say that “scared money always loses.” I would argue that this claim is generally true so don’t chase losses with equally-poor bets.
There Is More Than Prowess That Determines Odds
Remember that often a team who has better players and is ranked fairly high will still lose in the right situation.
Things like home field advantage, the weather, motivation (Does one team seek revenge? Does one team still have a chance at the playoffs?), and exhaustion (How far did they travel? Have the players had a tough schedule lately?) can all contribute.
Set Aside a Bankroll
As mentioned above, it’s a good idea to decide ahead of time how much you will wager for the season before you get started. Then place 2-5% of your season bankroll on each bet, depending on how much you like the play.
For example, if your season bankroll is $1000, you should only bet between $20 and $50 every time. Don’t get carried away, and you won’t lose too much money.
Bet Against the Public
As with any strategy, it’s a good idea to keep perspective. This isn’t always the best idea, but it is true that most people who bet on football lose, so it would make sense to place bets opposite of what they are betting, in one sense.
Bookies are really good at setting odds, though, so consider carefully. Don’t just blindly employ this strategy across the board.
One safer way to try this is to choose the home underdogs. We discussed this above under prowess – sometimes motivation is more powerful than skill, and who is more motivated than the team at home who doesn’t want to embarrass their fans?
Don’t Use Betting to Make Football More Exciting
If you want to make money, don’t place a bet on every game. Carefully consider the games, and choose a few that are a good play.
Some weekends you may only bet on one or two games. But this way, you are more likely to win, and even if you lose, you’ll still have money to place bets again next weekend.
We like Those Odds
Now you’ve got some great betting strategies to use this season. Remember to use them while clear-headed, and not to let emotions or alcohol influence your decisions. For more ideas and strategies for sports betting, visit our website.