How To Win At Sports Betting – Top 5 Expert Sports Betting Tips
Intro To Sports Betting
Betting on sports can be a fun hobby, but with the right skills and strategies, you can also turn sports betting into a second income. Unlike casino games like roulette and slots where the house always has an edge, with hard work, determination, and experience it is possible to become a profitable sports bettor.
It is impossible to consistently win money on sports betting without understanding all the basics and to maximize your return you’ll also need to master advanced betting strategies. That includes knowing the different types of bets you can make like moneyline wagers, bets against the spread and over/under betting. You will also need to understand how the odds work and how to read line movements to know when to place a bet and when to pass and simply walk away.
You also need to keep in mind that profitable sports betting is something that requires time and dedication. It’s a marathon, not a sprint and you will need to embrace the thought of climbing the mountain at a time rather than with one giant leap. Profitable sports betting is not about going all-in on a single huge bet; it’s all about making a series of smaller sharp wagers that will build your bankroll over time.
Below you’ll find our top 5 sports betting tips which will give you all the knowledge you need for how to win at sports betting.
1. Create Accounts With Several Sportsbooks
In order to place bets online, you will need to have an account with at least one and preferably several online sportsbooks. We recommend that you sign up with at least three so you can shop around for the best lines and prices. Line-shopping is in a nutshell taking advantage of pricing discrepancies between the same event at different sportsbooks. Finding the best odds/line possible can have a significant positive effect on your sports betting return on investment (ROI).
Additionally, many sportsbooks offer signup and reload bonuses, which can give your bankroll a nice boost, particularly when you are just starting out. Three of the top bookmakers in the business are:
- Bookmaker.ag – 100% sign up bonus up to $1,000. One of the most reputable sportsbooks online. Generous loyalty program. High betting limits.
- 5Dimes Sportsbook – Multiple reward plans, including reduced juice. A+ rating on all reputable sportsbook review sites. High betting limits.
- Nitrogen Sports – The world’s biggest bitcoin gambling site.
With these top-rated online bookmakers, you never have to worry about receiving a cashout or being treated unfairly.
2. Bankroll Management
Next up, you need to decide how much money you are going to set aside as your bankroll, a set amount of money dedicated to your betting and nothing else. The size of your bankroll will determine how much you are going to bet on any single game, and we recommend that you bet no more than 3% of your bankroll on any single wager.
If you stick to the 3% rule and have a bankroll of $10,000, your max bet will be $300 ($10,000 x 0.03).
The beauty of this bankroll management strategy is that you will never go broke if you hit a cold patch, and on the flip side, as your bankroll grows your wager sizes get bigger as well. If your starting bankroll is small and you want to start more aggressively, you can temporarily set your max bet to 4 or 5% of your bankroll and adjust your wager size later on.
3. Treat Sports Betting As An Investment
One of the key concepts to win at sports betting is to treat sports betting as an investment. That means you better be prepared to spend a lot of time handicapping games, reading box scores, creating betting models, etc.
A less time-consuming alternative is to purchase a premium pick subscription from an expert handicapper who will provide you with picks to bet on. You can find the top documented handicappers in the world at our sports handicapper ranking page. These are sports bettors who have proven they can beat the bookmakers over a large sample.
Premium picks are sent to your email as soon as they are released, so all you need to do is lock in the wager at a sportsbook. Take a look at the best online sportsbook bonuses page if you need a new online bookie. Whether you are new to sports betting or a more advanced bettor, the experts can save you a ton of time and make you a lot of money with their betting predictions.
4. Keep a Betting Record
While keeping a betting record might seem trivial, it is nevertheless an incredibly important part of knowing how to win at sports betting.
With detailed spreadsheets you’ll be able to analyze and isolate which type of wagers you should focus on or avoid. We recommend you keep separate records for each sport and also find a way to analyze separately for spreads/moneylines and totals. Maybe you’ll realize that while you’re doing extremely well with NFL sides only to throw the profits away on College Basketball totals.
Tracking all your wagers will also help you with your discipline and will hopefully stop you from making unresearched wagers.
5. Sports Betting Traps To Avoid
Discipline will be key to how well you do on your sports betting adventure. Here are a few ground rules we recommend that you stick to.
- Never bet drunk – You know how you shouldn’t drink and drive, right? We have that law for a very good reason as we humans tend to become careless and make rash decisions when intoxicated. Treat your bankroll like your baby, nourish it and don’t put it in any unnecessary danger.
- Never chase – If you bet long enough you will eventually take a bad beat so tough that you think your brain is about to explode. If you are anything like the standard bettor, your immediate reaction will be to place a wager to win back that money that is rightfully yours! At this point, you need to cut your losses and stay away from any type of gambling for a day or two. Don’t worry, there are an endless amount of games coming up with neverending action from countless sports. Everyone, even professional bettors take bad beats, and they are out of our control. What we can control is our own reactions, and now is a good time to take a break so you can come back with a clear head.
- Stop playing parlays – To maximize profit and minimize variance you should make more straight bets and play fewer parlays. The key to sports betting success is to aim for a steady stream of return instead of hoping for that one big parlay payday.