Do you love placing bets on sports? If so, Australia is most definitely the place to be.
More than 500,000 Australians admit to placing at least one bet on a sporting event every month. They bet on sports like football, tennis, rugby, and more. And on average, they gamble more than $7 billion annually on sports, which has turned sports betting as a whole into a big business in the country.
It’s simpler than ever to find an online sportsbook to take a bet on a game. There are dozens of sportsbooks to choose from. But if you want to win, employing smart sports betting strategies is the only way to go.
It’s impossible to eliminate risk altogether when placing bets on sports. But, you can cut down on your risk significantly when you use sports betting strategies that work. Try these 10 sports betting tips and strategies and watch your luck change.
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1. Choose the Right Online Sportsbook to Take Your Bets
Before you place a single bet on a sporting event, it’s important for you to do your homework and find the online sportsbook that’s right for you.
As we mentioned earlier, there are dozens of options for you to choose from. But not all online sportsbook are created equal. Not by a long shot, actually.
Before signing up for a sportsbook, take a look at the betting lines they’re offering on certain contests. You’ll find the odds of games will change, sometimes dramatically, from one sportsbook to the next.
If you sign up with a sportsbook which doesn’t offer good odds, you’ll be assuming more risk than you have to right from the start. Look through the sportsbooks that are available to you and choose one with a reputation for offering the best odds in the business on sporting events.
2. Avoid Betting on Only the Favorites
One of the most common mistakes sports bettors make when placing bets on games is relying on the favorites to help them cash out big.
It’s not hard to see why so many sports bettors do this. They take a look at a matchup and have absolutely no idea how Team A could possibly lose to Team B. Team A is just so much better and shouldn’t lose to the less-talented Team B.
But there is, as they say, a reason why they play the games. Every now and then, Team A, no matter how much they’re favored to win by, will lose to Team B. And when that happens, tons of sports bettors end up walking home empty-handed.
Favorites are favorites for a reason, and there are times when you’ll want to bet on them. But if you bet on them more often than not, you’re likely going to see your bankroll dwindle away over time.
3. Learn How to Manage Your Bankroll More Effectively
As a sports bettor, managing your bankroll more effectively is difficult to do. When you take a series of losses in a row, it can be tough to stay disciplined and stick to the script as far as your wagers go.
But to reduce the risk of you blowing your entire bankroll, you need to come up with a system for how you’re going to bet. Ideally, each bet you place on a sporting event should represent somewhere between 1 and 5 percent of your total bankroll.
If you bet too much at a time, you’re going to have trouble sustaining losing streaks. It won’t be long before you’re going into debt and struggling to stay in the game.
4. Research Games Before You Place Bets on Them
This should really go without saying. But there are far too many sports bettors who make the fatal mistake of betting on games without doing any research on them.
If you’re planning to bet on a game, take a closer look at past head-to-head matchups between two opponents. See what their records against the spread look like. Read up on what other sports bettors are saying about both sides.
Once you get good at researching sports bets, you’ll be able to pick up on patterns. For example, you might find that a certain team rarely covers the spread when they’re a favorite playing on the road. You can use that information to place a smart bet rather than a blind one.
5. Stick to the Sports and Teams You Know
In an effort to take on as much sports betting action as they possibly can, some bettors will put down bets on sports they’ve never watched and teams they’re unfamiliar with.
This is, as you might guess, a recipe for disaster. While it’s not a terrible idea to branch out and try betting on new sports and teams after doing your research on them, you should never bet on sports just to say you did it.
If you’re tempted to bet on a sport or team you don’t normally watch, step back and ask yourself why you’re doing it. You’re going to be putting a lot on the line for very little in return when you take miscalculated risks.
6. Pick One or Two Games to Bet On Instead of Betting the Board
In your mind, you might think that placing many bets on multiple games is a smart decision. After all, it gives you more opportunities to win, and even if you don’t hit on all your bets, you’re bound to win a few.
The problem with taking this approach is that there’s no way for you to properly research for a bunch of bets at once. You might be able to do your homework on one or two matches, but you’re likely just making educated guesses when betting on the others.
Rather than going that route, pick one or two games you plan to bet on and research them as much as you possibly can. Win or lose, you’ll feel better about how you went about placing your bets.
7. Fade the Public Whenever Possible
Does it feel like EVERYONE is betting on one team or competitor to win? You might think this is a sign that you should bet on them, too.
But more often than not, this is actually a great opportunity for you to do what’s called “fading the public.”
Fading the public is when you bet on the thing that everyone else seems to be betting against. This bet isn’t always a surefire winner, but it will end up hitting for you a lot of the time.
8. Resist the Urge to Chase Your Losses
Winning a sports bet will send adrenaline coursing through your veins. It’ll feel so good to see the team you picked taking home a win.
But losing a sports bet can create the exact opposite feeling. The only thing you’ll want to do is place another bet and get a win to erase it.
Chasing losses is never, ever a good idea, though. When you engage in chasing losses, you’ll be more prone to making mistakes and placing larger wagers than you normally would.
You can put your bankroll at a real risk if you don’t slow down and think about what you’re doing before you begin to chase.
9. Keep Tabs on Your Bets and Look for Patterns That Develop
Are you in the habit of writing down all your bets and the outcomes of them? If not, start doing it as soon as you can.
When you keep accurate records, you’ll be able to figure out your total wins and losses over a specific period more accurately. This will help you gauge how much you’re really winning and losing.
It’ll also let you see patterns which might be developing. Just like you research the patterns of the teams you bet on against the spread, you should look at your own betting patterns to see what you can find.
10. Understand That You’re Probably Not Going to Strike It Rich With Sports Betting
Everyone thinks they’re going to walk away a big winner when they start betting on sports. They’re under the impression that it’s easy to pick winning teams and competitors and cash out.
At times, you might feel like you’re on top of the world when you’re betting on sports. It can be so much fun to collect your winnings when things are going great.
But regardless of how good you get at researching teams and competitors, you’re going to suffer through rough patches, too. The key is to never get too high or too low when you’re betting on sports.
Stick With These Winning Sports Betting Strategies to Achieve Success
Sticking with the sports betting strategies listed here is easier said than done. The first time you take a bad beat or sustain five or six losses in a row, you might start compromising your beliefs and doing things you said you wouldn’t when betting on sports.
But these genius sports betting strategies will minimize the risk you take on when you bet on sports. They’ll also help you have more fun when you’re betting since you won’t ever get yourself into too much trouble. Read our blog for more tips on turning yourself into a successful sports bettor and contact us with any questions you have!