Top Tips on How to Make Money Betting on Your Favorite Sports

Sports betting has been around for some time as a favorite pastime by many. Of course, aside from the excitement and thrill it gives to a usual game of football or horseracing, you can also make money from it. In fact, a good amount of money in betting, that is also why many people wants to try their luck to make money betting on their favorite sports.

Although you can bet in your favorite sports, you can however bet on many other sports that might give you interest. Although you may not know much about how the game is played, you can still bet, minimize losses and maximize wins for as long as you have a system in place.

Here are a few tips that can help you on how to make money betting.

– Understand that losing is part of sports betting and in some point or another, you may have your own share of losses. One thing that you can keep in mind in betting is to be comfortable working with risks and learning to accept losses. Of course, you don’t have to just wait for your win, but you have to also have a strategy to maximize winnings and reduce risks.

– To make money in betting on your favorite sports, it is important to understand the different types of bets and the risks and rewards that you can get out of it. Indeed, one of the keys to big winnings in sports betting is knowing where to put your money. Different types of bets have different risks and rewards, thus being familiar with what types of bets can give you the good winnings with a manageable risk and help you on how to make money betting in sports.

– Only play the amount that you are willing to lose. Even if you have lots of money in your bankroll, it is still important to consider putting at risk an amount that you are willing to lose. Otherwise, you will be dwelling on your losses and chasing them that you forget to stick to your strategy and forget the fun of sports betting as well.

– Have a system and stick to it. Sports betting can be tricky as there are a lot of risks involved. Although there is no single formula to make sure you win in sports betting, there are some tips that can help you make wiser decisions when it comes to betting.

– In any sports you are betting, do your homework and research on the teams and their past performances. There may be no formula to be winning always in sports betting, but a few research would help you minimize the risk and maximize your profits as well.

If you want to make money betting on your favorite sports, it is important that you have the courage to face risks and the ability to accept losses.

Sports Betting Picks – Where to Get the Best Sports Betting Advice and Tips

Betting on sports has become a very popular past time, every year more and more people start making sports betting picks. Many of these people do so in haphazard manner and have no real chance of success. The smart ones have a system that helps to ensure that sports betting is profitable endeavour.

The first thing that you need to understand about any betting system is that it is not going to allow you to win every time. You frequently see ads for betting systems that promise that they have a 99% winning percentage, or some other unrealistic number. No system can do this and any that promise that they can are scams.

An effective betting systems is one that allows you to win more often than you lose. This is an important point that needs to be understood, you will have losing bets, if you go in expecting to win every bet you are going to lose your shirt. A system of sports betting picks will allow you to pick more winners than losers, you profit over the long term, not by winning every bet.

Before you even start making sports betting picks you need to determine how much you are prepared to bet. You need to have a bankroll that you can afford to lose, do not ever bet money that you can’t live without, it’s called gambling for a reason. Even with an effective system there is still a chance that you could lose. It is also a good idea to limit the amount that you wager to no more than half your bankroll at any one time, if things go bad you want to be able to rebuild.

The next thing that you are going to want to consider is how much you are going to gamble on each game. You should be betting the same amount on each game, this is called the unit. The biggest mistake that most gamblers make is to vary the size of their bets from one game to another, this increases the risk. By always wagering the same amount on each game you will find that you don’t run the risk of big losses that you otherwise would. It also removes a variable from the equation and makes it easier for you to make good sports betting picks.

The other common mistake that most amateur gamblers make is that they bet on too many games. Every day there are dozens of games to bet on and a lot gamblers feel that they need to bet on them all, this is a mistake. You want to select the strongest sports betting picks and only bet on them, you really shouldn’t be betting on more than five games a day.

More than that and you won’t be able to properly analyze your bets. There is also a good chance that you will be betting on teams that you aren’t sure about, you should only be betting on the games that you have the most confidence in. If you aren’t confident about the outcome of a game don’t bet on it.

Football Betting Tips And Money Management

The hunt for profit doesn’t end as soon as one has found the most ideal football betting tips. There are still a great deal to be accomplished to make sure of consistent earnings. Money management is simply as essential as utilizing the best football betting tips.

Then again, in the rush to get one’s money on, a lot of individuals overlook this essential aspect of soccer betting. So, what’s money management? Let us look at it in basic terms: One is betting on 2 soccer matches. He knows that one would produce earnings 80% of the time while the other has a fifty-fifty odd of winning. One will want to place more money on the game with an 80% odd of profit wouldn’t he? That’s money management.

It’s simply managing one’s money to deal with risk. So, logic states that on one’s risky bets, he must risk less cash, and on the stakes that are stronger, one needs to wage more cash. This might appear like common sense to one, but it’s often disregarded.

Now, the next query is: How does one compute how much money to bet on a soccer team? The most typical means is to utilize a similar amount on every selection. Whilst this could work long term, in the short run one has to look out for long series of losers from the higher priced soccer tips. 4 or 5 losers successively could quickly deplete one’s bank. Thus, it might be better to find another approach.

One more method recommended by many is called the Kelly Criterion. Then again, Kelly needs one to know the likelihood of a win. The football bet size is then decided by initially converting the cost on bid into a probability. One then has to approximate the chances of his bet succeeding. The difference between one’s probability and a sport book’s cost probability has to be positive. If it’s negative, one must drop this soccer bet & move on to the following game. The bet size is then computed using such probability difference. A bigger difference will suggest bigger investment and vice versa.

Now, as one could imagine, the average individual couldn’t approximate the chances of his soccer prediction winning. So, such a method is of little help to him. Indeed, the mathematicians & professionals rave about such formula, and do not get it wrong, it’s terrific in theory – but it disappoints in practice.

This being said, lots of people prefer to utilize the usual methods available. Sports books have scrutinized the games in depth and it isn’t frequently that they get the odds wrong. So, why not make use of such to one’s advantage? This makes one’s foes’ greatest strength their weakness. Indeed, upsets do happen, but if one looks at a sport book’s probability tips long term, one would find out that if they cite an outcome at even money, such result would occur really close to fifty percent of the time.

Needless to say, there are different methods for one to use when it comes to football betting and/or money management. Hopefully, the above football betting tips will be able to help you finally decide on which one.

How to Profit From Sports Gambling

The goal for sports punters is to earn a profit whilst enjoying our favourite sport. The sad truth is that for the majority of gamblers, this is an elusive dream. However by developing and carefully following a stratagem anyone can make this dream a reality.

There are two factors to consider to profit from sports gambling:

  • Bet Selection
  • Staking Plan

Bet Selection

The first, Bet Selection, is obvious – we need to back winners at least some of the time. Let’s consider Horse Racing, anecdotally there are many professional punters who earn a comfortable living from picking horses, but the key word here is professional. Research and analysis of each horse in the 59 racecourses across the UK takes a sizeable amount of time and experience. If you want to be successful then it’s a full time job! For the majority of us this means we have to use the advice of experts to do some of the legwork for us.

Horse Racing Tipsters

UK horse racing has no end of self-proclaimed “experts” on the Internet charging up to £100 per month. When selecting a horse racing tipster the most important factor we need to consider is long term results.

The Internet is awash with tipsters who have had one good month but then go on to post a loss for the next six – but you will only see this one month on their home page! Never follow any tips without first checking the tipster’s full result history. Choose a tipster who publishes all their horse racing tips history, ideally where the results of the tips are published the next day along with a complete history of all their tips.

Take a look at a Tipster Proofing site such as Racing-Index who grades the results for a number of tipsters. Consider which tipster gives you gave for money and fits with your own betting profile – can you actually place the 100s of tips each month some tipsters require?

Following tipsters alone is not likely to earn us riches – the best tipsters are locked out for new members or charge such high rates that any profits are lost immediately. The solution is to develop our own system using tips from expert sources combined with our own research. This is the strategy successfully used in greyhound racing by followers of the site. As with most things; the more you put into your system the more you will get out.

Staking Plan

Once we have a betting strategy in place it is time to look at a staking plan. The simplest is Fixed or Level Stakes where we simply bet the same amount, for instance 2% of our initial betting bank, each time on our selected horse, however we would want to increase our wagers as our betting bank grows. This leads to Percentage Staking where a percentage of the current betting bank is wagered each time. This means as we win our stakes are larger and conversely the stakes shrink when the betting bank decreases.

However, intuitively we know these staking plans to be overly naive as we would be putting the same amount of money on a horse with low odds compared to a horse with high odds. As we are looking to maximise our profits we should be putting a larger stake on a low odds bet as the return will be less.

To find the optimal staking plan we could take a correspondence course in statistics and dedicate several years into research. Fortunately we live in age where this research is at our fingertips. From probability theory we have the Kelly Strategy where the optimal percentage of our betting bank is calculated from the odds of the bet and our own estimate of the probability of the horse winning.

Using an online Kelly Strategy Calculator just feed in the values to get the percentage of the betting bank to put on each horse. Now the Kelly Strategy can give us some scary percentage stakes if we have an initial run of high odds horses so we could adapt it to a Half Kelly Staking Plan where we wager half the percentage advised by the Kelly Strategy. This would result in a slower accumulation of gambling profits but a less hair-raising ride.

The most important sports gambling advice to heed is only bet with funds you can afford to lose. Always gamble responsibly – if you feel you need help and advice with problem gambling visit http://www.gambleaware.co.uk.