Every bettor has their tips and strategies for winning money, and only a few forms of gambling give you a chance to make long-term profits. Sometimes those strategies work sometimes they don’t.  Every bettor knows that making money out of betting sports can be quite hard, but there are those professional bettors who win consistently. These professional bettors are making a good living out of sports betting. This is what makes betting on sports unique since you can earn money over an extended period. Furthermore, a better stands a chance of making vast amounts of money from a small investment. The best part about sports betting is that the better get to watch the game with their money on the line. Of course, more fun is watching a match where your team is winning meaning that your bet wins.  For one to increase their chances of winning and making more profit from sports betting they will need some great tips and strategies for that. They are not tricks on how to win, but by following these strategies, you will increase your chances of making a fortune through sports betting. The sports betting companies are making lots of money from ‘squares’ which means those bettors without any strategies on winning and still place their bets. Check out this list of some of the best sports betting strategies that transform bettors into Billy Walters.

1. Do your research on whatever you are betting on

Researching is the number one rule of any speculative activity where your money is involved. Any professional knows that doing ‘homework’ results in a good cashouts. The law applies to betting as well. Many people do make the mistake of indulging in betting without the proper research just because the next person is doing well at it. Before placing any sports bets, the interest in the game you are betting on should be developed. This increases the feeling of being in action even from the sidelines. Second get to know the teams involved. Lastly, remember who is playing in the games you are betting on. A thorough history of how the team performs, either at home or away matches can mean the difference between a payday and a broke day. Having statistics and probable outcomes in mind while betting substantially increase the chances of a win. Many have fallen prey to lack of research, in turn, giving betting a bad name.

2. Betting money management

After figuring out what teams you wish to bet for the next logical step would be determining how much to place on them. It is common to hear that ‘only bet what you can afford to lose.’ This means that do not bet all your rent since a hunch tells you that the bet is a sure win. The decision of knowing how much to allocate to gambling dramatically lies in the experience held in the field. A rookie is safer making small bets. These bets will let one know the ropes of them, and as they get more accustomed, then the stakes can grow larger. Betting has made an equally broken pocket. Setting the accounts straight before landing on the betting tables will guarantee you are not the next Harry Kakavas.

3. Bet while still sober

While placing a bet, it would be advisable to be with a clear mind. Taking a drink or two before your bet can impair the decisions you make. However, being sober does not always mean that you are intoxicated. This rule also applies to your state of mind. A win or a loose can significantly affect the emotional state. Some people would get over excited by a win and feel that they are on a winning streak and nothing can stop them. The thought would drive such a person to put back the profits which in turn would evaporate as quickly as they came in. On the other hand, a significant loss might at times lead to more betting to recover the lost money. However, not all are so lucky and the deeper they dig to redeem themselves the deeper a debt grave they are falling into. After a big win or loss, it is advisable to take a breather to clear the mind before proceeding to the next bet.

4. Betting on positive expected value

Expected value in betting means the bettor’s advantage on every bet. Expected value can either be negative, positive or neutral. Neutral expected value is not very common, but it implies the bettor stands to gain an equal amount as they would lose. In other words, if a bet is a dollar, the returns or loss will still be a dollar. In the case of positive expected value, the better stands to gain a little more than they had waged. If they bet a dollar when they win the position to earn a dollar plus interest but if they lose they lose a dollar. While one side of the bet experiences positive expected value, the opposing team has negative expected value. By losing, more is lost than what was expected in the case of a win. In a wage, losing means a dollar plus would be lost but a win will only bring in a dollar. Professional bettors hunt for positive expected value since returns are much higher than what they waged.

5. Double chancing

This is a concept on sports games that have more than two outcomes. This strategy rules out volleyball, golf or the like where only one winner is expected. In second chance, for example in football, where it is mostly used, you can bet on a win and a draw or a loss and a draw. The drawback of a second chance is that odds are significantly lower than average bets. On the plus side, the risk of losing money is drastically reduced. Ideally, two out of every three stakes are guaranteed. This strategy would be ideal for a beginner to increase their chances of a win as they learn the betting field.

6. Multibet strategy

This strategy is a beginner’s favourite. It involves having multiple bets consolidated into one, and the overall odd is calculated by multiplying the individual stakes. This increases the amount that stands to be won. With high gain also comes high risk. With the increase of accumulated bets, the possibility of loss grows directly proportionally. If one bet is missed, then the whole stake is lost. Therefore, to make a win then all games should be predicted accurately. This makes this strategy less popular with professional bettors.

Conclusion

Sports’ betting is an activity that has proven to be a money earner just like any other. Its unpredictable makes it much more exciting and having your money on the games makes one feel as if they are right there in the field along with the players. Just like any other activity, there is the need for preparation and familiarization. No bet will bring back profits on just plain hunches. Lucky enough the strategies to capitalize on sports are endless. But most important of all is doing research both on the policy and the games before placing the bets. Once a suitable plan is locked in then betting can be a money earner.