Set A Time Limit
You’re never going to get good at something if you don’t set limits. When I first started out as a sports bettors, I’d sit down and calculate odds for 20 minutes, then go into action. After a few weeks, I started to realise that if I didn’t stop once my brain started to wander, I was going to keep getting confused, which would lead me to keep losing money. So I’d set a time limit for myself – 20 minutes, and then I had to move on. Now when I sit down to do my odds, I only look at scores and statuses from the last 4 hours, and I’m usually on my way to Vegas by the time the 4th quarter has started.
Study The Stats
I know, I know. This is really basic advice, but until you actually start placing bets and making money, it’s not easy to know exactly how important it is. The basic concept is to study the statistics. Find out what’s happening from week to week in your favourite sports, and make sure you understand the dynamics of the game (reds vs blues, favourites vs underdogs, etc). The more you know, the better you’ll be able to place winning bets. The most important statistics to look at are the spread and the over/under points totals (O/U).
Learn How To Lose
If you’re going to get good at anything, you’re going to have to learn how to lose. The earlier you start learning, the better. By the time you’re a pro, you’ll be able to place winning bets, but you’ll also know how to lose money too. Knowing how to lose is all about being smart about your losses. When you lose, it’s usually because you made a bad bet or you misunderstood the rules. In the end, though, it’s all about odds and stats, so if you keep losing, it’s probably because you’re doing one (or both) of the things I mentioned above.
Don’t Be Foolish
I know, I know. This sounds really obvious, but until you actually start winning, it’s easy for you to become overconfident. When you start winning regularly, you’ll start to think that the whole thing is easy, and you won’t pay close attention to the little things that can mess you up. So take a bit of a break after you place a winning bet (especially if you’re on a streak), and then pick up where you left off before the winning streak started. This is especially important if you’re on a mobile phone, as it’s so easy to put it down and walk away with your eyes focused somewhere else. The better you become at placing bets, the less you’ll have to do to keep them active, so take some time off when you need it.
Borrow Money From Family And Friends
If you’re going to be investing in anything, the best place to get money is from family and friends. Most sportsbooks will allow you to open an account with a small, unsecured loan, which you can use to buy betting tickets. The great thing about these loans is that as long as you keep up with your payments, they don’t ask any questions, and they don’t report you to the credit agencies. So it’s the best of both worlds. Your family and friends don’t have to know what you’re doing, and you get to enjoy the occasional winning bet without risking too much money.
Follow The Money
Betting on sports is a great way to make money, but it’s not the only way. The key to being a successful sports bettor is to follow the money. Look at the odds for each team and follow whoever is paying the most (often, this will be the favourite). The favourite’s odds will start to decline as the game goes on, and eventually, they’ll reach an all-time low. This is your best chance to make a profit, so don’t hesitate to place a bet when this happens.
Specialise In One Or Two Sports
If you’re going to succeed as a sports bettor, you need to specialise in one or two sports. To start with, I’d recommend American football and horse racing, as they have the same required information (team, score, time). If you can get the hang of placing bets on these two sports, you’ll be able to switch to whatever you want, as there’s usually plenty of action on each one. You can then go back and place smaller bets on other sports, which you’re sure to win (as long as you’re selecting your bets wisely).
Learn To Be Reasonable
One of the main reasons why most people lose money at sports is because they’re not reasonable. I know, I know. This sounds like pretty basic advice, but until you actually start placing bets and making money, it’s not easy to know exactly how important it is. When you get paid, you’ll be feeling pretty good about yourself. Every now and then, you’re going to make a lot of money, and others are going to make a lot of money too. This is your chance to be a bit of a hero. Be reasonable about your bets. If you think that a team is going to win by a certain score, but the spread is saying otherwise, there’s no need to make a bet. It’ll just cost you money if they don’t cover the spread. You have no idea how many times I’ve seen people place ridiculous bets thinking it’ll make them rich. People like this always end up losing, as there’s a reason why the saying ‘never put your money on a game you’re not sure of winning’ exists. Keep an eye on the spread, know how many points your team needs to win, and only then, make a decision whether or not to place a bet.
Keep Track Of Your Wins And Losses
The best bit of advice I can give you is to keep track of your wins and losses. This is something that will help you at the end of the day. When you’ve paid your bills, you’ll have some money left over. This is what you’ll use to pay for groceries and bills for your apartment. It’s also a good idea to put a percentage of this money into an online wallet, which you can then use to play casino games. This is how I made my first $10,000. I kept track of my wins and losses, paid my bills, and then used the rest to play blackjack. It’s a great feeling to know that you can do this, and it’s something you should look forward to. You’ll then be able to go out with your family and friends without feeling bad about spending too much. This is how you’ll be able to enjoy yourself without risking your financial security.
Enjoy What You’re Doing
Above all else, enjoy what you’re doing. It’s extremely easy for things to start going wrong, and it’s important that you keep your head up and continue following the advice I’ve given you. Above all else, enjoy doing what you love. When you start seeing results, this will become even more apparent. If you follow these tips, I guarantee you’ll be able to get good at sports betting. Just keep in mind that it’s not going to be easy. It’ll take some time, and it’ll require as much patience as you’re willing to give. But in the end, you’ll be glad you did.