Sport betting is fun and provides the opportunity to win big – we all know that. What’s not to love, right? However, sports betting is not as simple as you might initially think. Newbies to the sports betting world should add a bit of caution and research to their wager placing strategy.
3 Ways to Increase Your Chances and Win More with Sports Betting
The BBC released an article stating that between October 2017 and September 2018, a massive £14.5bn was spent on gambling in the UK. This includes all forms of gambling: land casinos, online casinos, national lottery, bingo, and also sport betting. Just how much was spent is clear, but how much was paid out? Only those who made a smart bet will have earned anything off of their wager.
If you want to make the most out of your sports betting activities, you need to place better bets. Sounds easy right? Wrong! The sports betting world, especially if you are new to it, can be difficult to champion. Don’t despair though! Just because it’s not easy doesn’t mean that you can’t win. We have taken some time to give you a few hints and tips
- Get Real – Be Realistic
One of the most important tips for getting the most out of sports betting is to set realistic expectations. If you are the type of person hunting for get rich quick schemes or don’t actually want to put in the work to earn your wins, you are going to fall short. Sport betting is nothing like playing casino games where the game play is straightforward and the wins are luck based. There’s a great deal more thought and effort that goes into betting on sports. When playing the typical casino games, you are almost guaranteed a win eventually. With sports betting, there’s never an inkling of a guarantee – you really are taking a chance. You need to be realistic about the potential to win (base all wagers on research) and you need to be prepared to put in the effort to increase your chances to win. Some in-depth knowledge of the sport you are betting on always helps too.
- Brush up on Your Maths Skills
Sport betting is partly based on maths, even if most people don’t consider it to be. It’s a numbers game and if you don’t have the foggiest idea of how odds and probability work, your wagers are going to earn you more headaches than wins. Successful sport betting relies on a good understanding and working knowledge of division and multiplication – and that’s just to start with. Of course, you could place bets based on your ‘gut feeling’, but you might find yourself wasting money.
- Get Inside the Mind of the Bookmaker
Most newbies to sport betting don’t really understand how bookmakers make the odds, and that’s okay. You are soon going to learn. In a survey done by Statista in 2018, it was found that 12.93% of the gambling population in the UK bet on sports regularly while 45.33% bet on sports sometimes (every now and then). This shows that some Brits who don’t bet normally (on the average day), do actually bet when there is an event or occasion on.
With that in mind, know this; bookmaker odds aren’t a reflection of who they think will win. They can be quite tricky in how they set the odds, so it’s good to be aware. Often the odds reflect:
- Who bookmakers think the general public will bet on.
- Bookmakers attracting betting on either side of the odds, so as to lessen their liability and improve their commission.
How can you use this to your advantage? Well, here’s the thing. If you get to know a bit more about odds and how they work, you are already in a better wager placing position. If you can keep an eye on how certain bookmakers work, you can place smarter bets when popular events roll around.
Why is this? When big events such as the Super Bowl or a Major Horse Racing event comes around, the average sports fan will place a wager “just because” and in most instances, they will bet on their favourite team winning. At these events, most bookmakers will set the odds in favour of the public favourite teams….and this is where you can place a smarter bet as you know more about the odds and of course, have done your research into the teams playing. The general sports fan placing a bet “just because” has no real understanding of how it all works. Remember that bookmakers don’t want you to win. Always keep that in mind when placing a wager.
Is Sport Betting for You? You Decide!
It all depends on whether you enjoy it or not. If you love watching sports, then placing a small wager on the outcome can often increase the excitement – even more so if your knowledge of sports ends up winning you money. At the same time, if you would rather spend your money on something a little more luck based then go ahead. Casino games are certainly more luck based, however if you want a break from sports betting and you are a slots player, you can look up the best pay-out slot games in order to increase your advantage against the casino.
Make no doubt about it though, when it comes to sports betting, a little knowledge can take you a long way. Happy betting!