How to Make Sports Betting a Money Making Business

Unlike other forms of gambling that are purely luck-based, sports bettors can use their extensive knowledge and research tactics to give themselves a distinct edge against the oddsmakers. From football to basketball to tennis, several key sports betting strategies apply across virtually all types of wagers. You need to start off with a healthy bankroll, bet conservatively, find the best deals on lines, and even place bets against yourself if need be to guarantee a profit. The most successful sports bettors need to put a lot of time and effort into researching their bets, but here are five simple sports betting strategies that anyone can use.

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Start with a Bankroll

If you want to make sports betting a part of your financial life and not just a fun thing you indulge in every once in a while, you’re going to need to create a sizable bankroll for your gambling before you begin. While most sports bettors simply wager on English Premier League (EPL), NBA or other big events, serious gamblers wager day in and day out on virtually every sporting event. You can’t possibly spend your entire bankroll on just one bet, so you need to have a large amount socked away to even begin seriously gambling in the first place. Of course, make sure you’re financially comfortable in all other aspects of your life before saving for gambling purposes.

Find the Best Line

Different sports books release different betting lines all the time. If there’s a game or match you really like, look around the Internet at the various sports books to find the fairest line. It’s a good idea to have accounts set up at multiple sports books anyway: they often reward you with generous bonuses for signing up and depositing money in their accounts. Once you have accounts at three to four different books, look at each of them, and find the fairest line. The extra money you make by shopping around like this doesn’t seem like much in the short term, but it can add up quickly.

Research Analytics

These days, many sports have been thoroughly analyzed and broken down using advanced statistics, metrics, and analytic data. Most of this information is available online, and you only need to go looking for it to find it. For instance, if you’re betting on college basketball, analyze the data of the team you wish to wager on to either see how they perform at their home court or own the road. Some teams are dramatically worse on the road, so that information can help sway your bet. For baseball, look at the advanced statistics of the game’s starting pitchers, and go with the one who has historically performed better in the ballpark they’re playing in or against the batters he’ll face. Its simple stuff, but this extra level of research can help give sports bettors a big competitive advantage.

Hedge Bets

It seems counter-intuitive, but a good way to either make money or prevent big losses is to place opposite bets. For instance, if you bet on the Manchester United at -3 at one website, go to another sportsbook and bet on their opponent by their spread. Only do this if you are unsure of the outcome, or if you do research at the last minute and find out about a factor like an injury that you weren’t previously aware of. This strategy can help absorb some of the loss, and can even result in a profit if you wager more heavily on the underdog.

Bet Conservatively

Above all else, if you want sports betting to be a long-term lifestyle, you need to bet conservatively. This means only betting between two and five percent of your overall bankroll on each individual bet. This helps to absorb your losses over the long haul and guarantee, if you’re making smart bets, which you’ll walk away with about a 60 percent profit margin. Though many people think you can get rich quick betting on sports, it’s a much safer and more sustainable strategy to bet with small percentages each time you wager.

Sports bettors need to be conservative with their bets and take the long view of their betting strategies. Hedging bets, doing heavy research beforehand and shopping around for the right line are all effective ways of improving your gambling strategy and making more money over the long haul. Though many people bet heavily once or twice a year on big sporting events, if you truly want to make sports betting part of your financial future, you need to take it seriously and give it the kind of thought and attention that it deserves.

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