Starting fresh in 2024 is excellent, especially if you’re preparing for the upcoming sports events in the first three months. There are many ways to prepare for sports betting, but few are effective and foolproof.
In this article, we have collected the best betting strategies that remain effective regardless of the sports you’re into. Read more on our foolproof betting strategies below and start this year’s betting season strong.
Start-Up On Research
It is already established to many of us that sports betting comes with heavy research. Going with luck and hunches may work sometimes, but that is not viable for long-term success. You need to know what you’re looking for and where to start to get proper wins and profit from sports betting.
One good tip is to start on sports news and online communities. Through this, you can get real-time updates on important information like NFL spreads or the latest injury reports, and online communities are filled with experts who can share a thing or two about sports betting.
Simply put, spend more time researching before putting a wager.
You can start researching at any point, but you are encouraged to study months or weeks before the event. Understand that the best bettors are those who study the most.
Money Management
It’s no secret that managing your bankroll is crucial in determining whether you profit or lose in sports betting. However, it is easier said than done. You could still face significant losses with many factors considered when betting on sports.
Amongst many strategies available for bankroll management, we will provide two key points to start, especially for beginners.
- Fixed Bet Size
When you have a set budget, try computing how much money you are going to risk for every bet. For example, if you have a budget of $500, only bet at least 5% or $25 per wager. This allows you to play longer (in this case, you can bet 20 times per session.) and avoid losses that may bankrupt you early on. At the very least, you are sure that you only lose 5% of your money per wager.
- Hedging
Hedging is a risk management technique used to minimize losses. This is an effective way to apply to any sport, but it can be complicated initially. To give you an idea, hedging is betting in favor and against your team, hoping that a win from either side covers the amount you’ll lose.
This works best if the odds suddenly shift and your initial bet is more likely to lose. Remember that there’s no profit made from hedging, only for minimizing losses and ensuring you stay in the game longer.
Only Play Sober
Alcohol and sports blend well together whether you’re watching in the stands or on the TV. However, Things turn sharply downhill when you bet while you drink.
Allow us to state the obvious: alcohol is not great for things that involve rationality and decision-making skills. And since sports betting is all about strategy, there’s no way you can sustain a long-term career that’s profitable when mixed with alcohol.
Still, you must have fun throughout the session. So, strategize when and what alcohol you should take when sports betting; we recommend taking a drink after playing or taking a break to unwind from all the action.
Don’t Tilt
Tilting is a standard gambling term that means playing while emotionally charged. Placing bets while you’re too sad, happy, or stressed could lead to bad choices and make one bad thing worse.
Always strive to be calm and collected when betting on sports. To avoid playing while emotionally charged, take scheduled breaks to clear your mind to ensure bias goes over your betting strategies. In any case, do prioritize your mental health, as most live establishments would escort you out if they think you’re overly stressed or bursting out from the game.
Be Realistic
Only in movies do you see the main character winning a jackpot from a small wager. While that is the dream of most sports bettors, reality tells you the opposite. If you haven’t played a proper sports betting event before, you’d realize that many professionals have the tightest budgets and rarely play big-money jackpots.
Winning streaks in a sports betting event only happens almost half the time; most of your playthroughs would be managing losses, taking small but profitable wins. The reality of sports betting is you are guaranteed to lose at any time. That said, stick to strategies that make you win more and try not to do anything rash.
Final Thoughts
Sports betting is fun as long as you do it the right way. With so many strategies readily available, you need to start at the roots first. This article includes the most essential practices but has proven its effectiveness over time.
So before you set out on your sports betting journey, ensure you’ve prepared enough, be sober, and have realistic expectations on how it will turn out.