Betting on Sports: Five Easy Tips
Whether you bet on sports for fun, to enhance your viewing experience, or for profit, the bottom line is you want to win. Here are five quick and easy tips that should help you keep your bankroll growing instead of watching it circle the toilet.
Look for the best odds – Sign up at two or three different sports books at least, so you’re not stuck with only one set of odds. If you’re thinking about betting on a game, go over all of your sports books and check out what odds they are offering on that game. You can make yourself a lot of extra cash over a year by betting on more profitable or more beatable odds.
Money Management is extremely important! – The only thing more important then picking the winners is managing your money when you’re picking the losers. No matter why you bet on sports you have to effectively manage your money if you want to keep betting without emptying your wallet every couple of weeks. A good rule is to make bets that are equal to no more than 3% of your overall bankroll. As you win your bets become larger, and as you lose they become smaller, so you don’t clean yourself out in one night of bad picks.
Do your research – Don’t bet on a team just because you think they’re the better team. Do some research on the game and actually know which is the better team, and which you should place your money on given the circumstances. They might not always match. The Internet is chock full of free useful betting information; you’re a fool not to take advantage of it.
Don’t follow the crowd – Don’t be a lemming. Just because the majority is betting on a certain team doesn’t mean they’re right. If the favorites won every bet there would be no sports betting, because no one could make a business case to offer it. Don’t bet on something because everyone else is doing it; bet on something because you think it’s the smart pick.
Don’t lose your cool – Everyone falls on hard times every now and then when making their picks. When it happens to you (and it will), don’t go crazy trying to make your money back. If you’re on a losing skid, the best thing to do is take a little break and clear your mind before getting back on the horse.
Here are some great sports books to get you started:
Bodog Sportbook is a personal favorite to play at because they have some of the best odds; they are great with payouts as well. But don’t limit yourself to just one, here are some others.