Truth be told, most people don’t understand the mathematics behind sports betting. Nevertheless, even that’s not a deal breaker, since it’s possible to win without extensive betting knowledge. For example, match-betting, trading, arbitrage or value betting are more about taking advantage of the bookmakers offer. All the same, you will need to avoid these 10 pitfalls in order to make it pay!
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BEING COMPULSIVE OR GREEDY
I have known potentially good gamblers fail because they are compulsive or greedy. A racing industry contact of mine is one such example, he’s in the know but still loses out. To make a long story short, this guy gets a load of valuable information and makes big profits on those races. However, it’s never enough and he always want mores, so he starts betting on races with no knowledge. Whether he’s greedy or addicted is open to perception, the fact is he loses the money he won and more. Never get ahead of yourself is the message!
TAKING WRONG ODDS
Professional betting is all about obtaining the best odds. We are not referring to what is commonly known has ‘’value-betting’’ , i.e. when punters simply take advantage of out-of-line odds. Wrong odds is when you accept shorter odds than required. For example, if a proven (profitable) tipster is telling his/her followers to bet Chelsea @ 1.90, they should be aiming to get those odds or more. Take it from me, accepting 1.80 about the same will lose you money in the long term! - Profiting from betting is about taking advantage and not just accepting what’s on offer.
ps - If the odds have gone, forget making the bet. Like with buses the next one will come along shortly!
When everyone is chasing the same bet it’s inevitable what’s going to happen, the odds will go artificially short. Bookmakers respond to the weight of money being placed, and they adjust lines accordingly. When punters see odds dropping they often jump on the bandwagon and create a stampede affect.
The message is don’t bet with the public for the sake of it, and that’s especially the case when value has gone. Being a sheep will only lead to one thing, and in this situation it’s going to the bookmakers slaughterhouse.
If you start becoming profitable, you will soon find out Bookmakers won’t be loyal to you! They will close/limit your betting accounts before you can say Jack Robinson, that’s the hard reality check. If on the other hand you are a regular loser, they will get the red carpet out for you! When punters talk about regular bonuses from their bookmaker, it’s because they are losing big money. Birthday presents, rake backs, prizes, and other incentives are par for the same course, in that bookmakers are targeting your loyalty!
Under no circumstances should you be betting with a single bookmaker, and note should you be loyal because you like the platform. If you stay loyal to one brand of supermarket, your shopping will be more expensive than if you buy products from various shops at best prices. Suffice to say, it’s the same with sports-betting. The more online betting accounts you have, the more you will be able to shop around for the best odds available. I reiterate, betting below true odds will make you a loser in the long term, whereas betting above true odds will give you an advantage.
You bet 100 and win 100, you do the same on the next and it also wins. This carries on for a couple more winners and you start to think i’m invincible. At this stage you bet 500 and it losers. Shit, you had 5 winners and one loser and come out with zero profit. Betting strategies are a subject within themselves, the fact is you need to stay focused and bet according to the plan!
The problem with being opinionated, you can watch two flies crawling up a wall and have an opinion which one will reach the ceiling first! Professional sports betting isn’t about guessing and using silly statements such has that’s the winner is 10,000% guaranteed. Betting is about the maths, so start by being realistic. Gather all the information you can, then decide what are value odds. It will help if you are analytical in your approach, but baby steps at first!
If the law forces you to pay betting taxes on stakes or winnings, maybe betting isn’t a good idea. If you are in a jurisdiction which doesn’t allow betting, bare in mind you won’t have any legal footing if the bookmaker doesn’t pay.
Most countries require bookmakers to be licensed locally, and they restrict citizens from placing bets outside there jurisdiction. That in turn limits the number of quality bookmakers available, and it’s that lack of choice which ruins value. It’s important to figure out whether the bookmakers you can access are viable!
Ask yourself this, do you bet on stuff just for the sake of it, and if losing do you chase? Are you betting with money you can’t afford to lose, and do you have self control? It goes without saying those addicted need to stop.
Stay on top of emotions, and if you can’t stay away from betting!
FORUMS - DON’T GET EGGED ON
Not all betting forums are bad, but they are frequented by losing punters. If you are visiting Betting Forums just for the banter, that’s fine if you are just enjoying the chat. However, if you are easily egged-on and believe all you read, then it’s time to be careful!.
In short, take everything with a pinch of salt, anything more will get you into bad habits!
If a betting tipster has banners/links to leisure bookmakers, they are profiting from sign-up losses. Websites are set up for the reason of making money, so you clearly need to avoid ones which need you to lose. It’s really no different to bookmakers giving tips on their website, why would they help you beat them?
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