Online sports betting can be more than just an entertaining hobby. When you play sensibly and make wise decisions, it can also be a hugely valuable way to make some extra spending money too.
Getting to grips with the game
There is a vast amount of guidance and advice available online to help you turn a profit while reducing your monetary risks. However, even with all this information, it can be a struggle to know exactly where, when and how to place wagers. After all, you are taking a risk with your own money and if you’re gonna put your money where your mouth is, you have to be up to scratch. If you are dedicated to playing seriously and potentially turning in serious profits too, here are just some of the tips and advice you should adhere to if you want to increase your chances of winning big.
The top 10 tips
Pick a sport you enjoy watching
It goes without saying that if you want to seriously focus on earning big with sports betting, you need to bet on a sport or sports you have an interest in. The major online bookmakers will offer wagers on pretty much every sport you can think of, from football to rugby, MMA and even darts. The insider knowledge that will really help make a difference between winning and losing takes time and effort to keep up to date with, so you need to have a passion to put in the work. In return though, sports betting will make the sports you already love even more thrilling to watch.
Register an account with major bookmaker websites
With the vast array of online bookmakers available, choosing where you want to place your bets can be a difficult decision. However, you don’t have to stick exclusively to one site. Make the most of the huge choice available and sign up with multiple player accounts. If you’re only just cutting your teeth, it’s wise to stick to the big bookmaker brands, such as William Hill and Bet365, as these will be the most trustworthy. If you’re a more seasoned punter, you can also shop around at some of the many websites to see what’s out there.
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Compare all the odds to make sure you’re getting the best deal
The odds on offer will always be quite similar no matter where you play. However, there can be some variety depending on your wager. While it’s probably not worthwhile for smaller bets and more casual players, those who are serious about seeing their winnings roll in should always compare odds, as the difference can sometimes add up quite significantly. In order to do this, you should ensure you have registered for multiple player accounts across various sportsbook sites. The easiest way to see all the best odds at a glance though is by using websites such as oddschecker.com, which calculate all the best odds on a certain wager. This will save you time and effort and could save you some extra money too.
Consider placing an accumulator bet
Accumulator bets can be a great way to increase your potential winnings. These are made up of several different bet selections that are all combined to make one larger wager. You should bear in mind that the risks with accumulator bets are much higher than other types of wagers, seeing as a single loss means you lose entirely. Despite this, they can be worth it in certain types of sports betting, as if your picks come in, you will see a much higher financial return than if you have placed your bets individually. While novice punters may not want to take the risk, it’s worth considering that if you’re smart about accumulators, you could get richer faster.
Make sure you shop around for promotions and offers
Almost every casino website and online bookmaker will offer new and loyal customers some type of incentive or reward. By taking advantage of these, you can really make your money stretch further. The easiest way to do this is by simply signing up with a player account. You’ll most likely be given an introductory offer as a reward, usually a free sports bet or deposit match. This can be a great way to get to know the site well without having to spend much of your own money. You do need to be aware of any wagering limits or requirements on these bonuses though, as not every promotion is as good as it seems. Once you like a certain site though, be sure to check if there are any loyalty schemes that you could benefit from in the future.
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Don’t overcomplicate things
As mentioned above, advanced wagers like accumulators can be a great way of increasing your chances of netting yourself big winnings. However, these more complex types of bets should only be used when you have an expert knowledge and in depth understanding of the game, players, teams and various other factors. When this is not the case, it’s best to keep your bets simple. More straightforward bets will give you the opportunity to improve your betting skills and your understanding of the game, which is great if you are just starting to branch off into new sports. As soon as you are confident in your knowledge, you can take the risk and place a more advanced type of wager.
Stay up to date with the news and stats
The world of sport is ever changing and while a bet may look good one day, an injury, sub or change in weather condition could completely turn things around the next. That’s why it is always so crucial to stay on top of your research. Betting on sports you are interested in will make this part of the process much easier, but there are also various ways to get easily digestible news and stay up to date on the go. In addition to the sports news channels, there’s a whole host of apps, such as Sky Sports, which will deliver all the up to date information, stats and stories straight to your fingertips. Remember, if you’re better informed, you’ll make better bets and have a better chance of walking away with a win.
Stake your money wisely
If you’re going to be making multiple bets, then you need to know the different types of staking. These different methods take into account mathematical and statistical strategies and can mean you walk away with more money from the same wager. The best ways to stake your money is with a fixed wager, where you divide a set amount between the potential winners and do not vary from the wager amount, or proportional betting, where you increase your bet based on a certain sum. These can be difficult to get your head around initially, but once you understand them, you can use them to your advantage.
Get to know your bet’s value
This often neglected piece of advice is pretty crucial. In addition to evaluating the odds, you should also be comparing the size of the odds to the wager’s chance of winning. By doing this, you will be able to understand the true value of your bet and you may even learn that some bets are not always what they seem: you may find a short priced favourite with heavy odds is worth putting your money behind, whereas a long shot with decent odds should be avoided. This type of knowledge and know-how is what sets apart the winners from the losers.
Always play responsibly
You’ve probably heard this a million times, but it is one of the most important sports betting tips. While sports betting is a great way to add some extra excitement to your favourite sports, it does need to be taken seriously. You always need to be patient and disciplined when it comes to wagering your money and you should never ever bet more money than you are willing to lose. Never go chasing your losses and once sports betting stops being fun, stop.
To keep sports betting as a fun hobby and a way of earning some extra cash, it’s a good idea to allocate a set amount of money, whether this is for a one off day at the races or for your entire month’s wagers on football. Make sure you stick to this amount, no matter how much of a return you get. By doing this, you can also keep track of your spending and know which bets proved the most profitable. As a rule of thumb, you should also avoid placing significant portions of your bankroll on a single wager, unless you are very confident in the bet. Try to stick to around 5% or less of your bankroll per bet to help it stretch further. Overall, don’t get bogged down by big losses or go over the top with big wins. Play sensibly and have fun with it!
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