Top 10 Betting Sites Strategies
There’s an endless number of “experts” out there who claim to be have strategies for winning with betting sites. The harsh reality is that there’s no sure strategy with betting. It takes knowledge, experience, and dedication to become a better bettor. Strategy is a key part of the process. Here are the top 10 betting site strategies.
1. Properly Manage your Bankroll
It’s important that you determine how much money you are willing to lose. Everyone has their own individual financial situations to consider. Ensure that you never bet more money than you can afford to lose.
Now you’ve come up with a designated bankroll, decide on the unit size. We recommend beginners stick to 1-5% of their bankroll for each bet they make. Don’t go higher. Proper bankroll management is the first step into being a better bettor. The smart people regularly scrutinize their bankroll and unit size.
2. Understand your Goals and Risk Tolerance
Different bettors make different types of bets. The sooner you are able to decide on which kinds of bets you want to make, the sooner you’ll be able to perfect your strategy and begin winning. Some people prefer betting on the underdog or improbable events. They want to put money down on long odds. These kinds of bettors are also likely to create parlays and make out-there bets.
Other bettors prefer strategic thinking. They consider the long-term perspective. They spend most of their time and bankroll on futures.
Perhaps you just make one weekly bet to stay active in the scene, or you make bets each day; including betting several times on a single event.
Of course, those bets are not mutually exclusive. Seasoned veterans are active in all different kinds of wager, no matter whether the odds are long or short. Focusing on a particular kind of bet is a smart way to improve your gambling skills.
3. Have Realistic Expectations
A good bettor can expect to win around 54% of the time. Truly great ones win around 60% of the time, and they really are the best of the best. No one is perfect, and wanting to achieve that level of success immediately is just not possible.
Even if you are able to win with your first ten bets – which isn’t entirely unheard of – the law of averages says that a loss is going to come your way eventually. Being aware of this and being realistic about your expectations helps to avoid any issues. Stick to the script.
4. Keep Records of your Bets and Regularly Review Them
This sounds cumbersome, but it’s still important. Revisiting losses is no fun, but you could prevent yourself from making a common mistake if you take the time to recognise them. Sometimes you may lose a bet even though you’ve done everything right. Then there are times you knew it was a stretch, but still made the bet. Correcting any misguided reasoning helps you in the future.
5. Bet with Your Head
Most people using betting sites get started because they are fans of what they are betting on. That means they tend to have an allegiance to a particular team. If that applies to you, then you should abstain from betting on events related to those favourite teams. Loyalty will cloud your judgement, and we recommend that you are rational and measured when betting. Bias affects us both consciously and unconsciously. That’s why we recommend skipping any lines where you’ve got a personal or emotional investment.
6. Avoid “Sunk Cost Fallacy”
We’ll be borrowing a parlance from behavioural economics for this one. The “sunk cost fallacy” as it’s called means that the more you invest in something, the harder it becomes to stop investing in it no matter how much of a loss it generates. That includes everything from actual investments to personal relationships. Your decisions will be tainted by emotional attachments associated to the investment. People who give into the sunk cost fallacy throw their money into doomed projects and ventures, just because they have already invested in it. They don’t know when they have to cut their losses. If things aren’t going your way, cut your losses and walk away.
7. Stick to One Sport
They say that you should invest in what you know. That includes using betting sites. If you’re relatively new to betting, then you should stick to sports and games that you know the most about. You should already know what you need to get an edge over the bookies from the knowledge you already have about how the game is played. You’ll be able to evaluate players and teams, and know where you can find more information to make smarter bets. This is an important part of smart betting.
8. Line Shop
Line shopping is when you take advantage of the pricing discrepancies of different betting sites. Finding great odds is sure to have a positive benefit on your winnings. It is the closest to shaping a foolproof strategy in sports betting. It should see you get higher profits and more success with betting. The sooner you get started with line betting, the better.
9. Hedge your Bets when Appropriate
Hedging your bets is a common risk management technique, and it’s one you can take to betting sites. It allows you to either reduce your risk or guarantee some small profit on a bet. Hedging can be difficult to do properly, so be sure to hedge your bets by betting on results that are different from the original bet.
10. Do Some Research and Talk to Other Gamblers
It’s never been easier to connect to the overall betting sites community in the modern age. Join up with some sports betting forums, look through subreddits, and chat with anyone you know in real life that may have an interest in sports betting. This is going to help you learn more about betting while also encouraging you to share strategies with your friends.
Patience is a Virtue
Keep in mind it really does take time to become a successful bettor. As you continue to develop your strategies and knowledge within sports betting, you’ll begin to see a bigger return on your investment. Remember that you should never let yourself become a gambler. Everyone has their bad days, but sticking to the plan and knowing when to walk away helps you to stay successful. Discipline is key when it comes to having fun and being successful on betting sites.
Carl Hughes - Editor
Carl Hughes is a leading expert on sports and casino betting. Carl began his career with a BSc in Sport, Exercise and Health Sciences from the University of Birmingham before working within the industry for some of the bigger names (GVC and Bet365) and has been praised as being "a leading sports betting commentator".