Introduction to improving your betting

A lot of users think that there is little they need to know in order to...

Table of contents:
  • Seven tips that will aid your betting!
  • Summary and conclusion
Posted by Tom
Share

Seven tips that will aid your betting!

A lot of users think that there is little they need to know in order to place bets successfully. There is nothing further to truth than this statement. Human beings learn day after day something new, and the same thing concerns betting. There are dozens of things even experienced bettor doesn’t now. So how to enhance your betting? What to do in order to be better?

The article we presented for you provides you with 7 interesting ideas that will definitely help you in becoming successful bettor. Of course you need to bear in mind that besides the knowledge we are about to present you, you still need to know basics in order to understand how betting works and how to place bets without constantly losing all your events. So, without any further ado, let’s take a look at some of the advice!

Read also: What are the virtual sports?

1. Know the difference between odds and probability

A lot of people think that football club that is a favourite in an event (namely it has 1.20 odds in winning) will most certainly win the game. However, have you ever wondered why there are so many failed bets? Did you ever wonder whether the value of this bet reflect the odds? Obviously, the odds are a great indication of which team has better chances in winning. It doesn’t change the fact; however, that the probability of one team winning can be different.

betting predictions reviews image
best betting tips providers
our detailed reviews

That is why it is extremely important to know the value of each and every bet. Value is basically a concept that lets you know whether the bet you are thinking about is really worth it or not. For example, there can be two events with pretty much the same odds. Two favourites can have 1.20 ratio on winning. However, the thing that differs is probability. In other words, there is, let’s say, 65% for the first team to win, whereas in the second event the favourite has got more than 75%.

But how to spot the value? What ones needs to do in order to find the right events? Obviously, it has to deal with maths, with your knowledge about the discipline and of course with the statistics! If you can spot the odds that are too high, then this is most likely the best way of gaining profits. Of course not everyone knows how to do that because it requires a lot of knowledge and experience.

2. Be good at math!

Although we tell you a thing or two about mathematics participation in betting and understanding value, the fundamental thing in becoming a successful bettor is to simply know a lot about math! It is possible to earn a lot on “your feeling” or by being lucky. However, if you are interested in placing bets in a long term, then you will notice how important it is to have mathematical knowledge.

Read also: Is match fixing still a thing?

3. Don’t fall for favourites

After a while, a lot of players tend to find their favourite teams that, despite all the odds, can surprisingly win and give you a lot of money. It is obviously a good thing to know which team is capable of heroic victories that can result in huge gains. However, the more we bet on that team, the more we like them. In such situations we can break one of the fundamental rules when it comes to betting – do not place bets on teams that you support.

4. Know your enemy

Enemy in this metaphor means bookmaker. Not everyone understands how bookmakers calculate the odds, and it is a very big mistake. To put it in an extremely simplified explanation, the bookmakers will prepare odds for the publicity. It means that it all depends on how the public would bet, not minding the probability at all. It means that they will make odds in a way they will attract bettors that will be interested in both betting for one side and for the other.

Since general view is not always right when it comes to forecasting results, it creates a great opportunity for everyone who knows a thing or two about given event. That is why it is very probable to find a great value in more popular matches, since bettors who know little about either betting and football would like to bet.

Unfortunately, the enemy (the bookmaker) has got several aces in his sleeve. There are bookmakers that, when notice your constant wins, will try and suspend your account or at least impose some limitations.

An interesting solution that may save you from switching from one bookie to another is the use of betting exchanges. These are simply services that offer betting against other players. It means that you either bet with others or against others. In that way you are not going to be limited by bookmakers, since you will be one of many other users betting against each other.

5. Take losses the same as victories

You cannot think about a loss for too long, since it won’t do any good. Do not forget about things that make your results good. Always have your analysis, always have faith in your skills. Of course it means that you cannot let your wins cloud your judgement. Once you win, make sure you don’t make a mistake simply because of overreaction. Stick to your plan, browse through statistics and remember about the appropriate analysis!

6. Don’t go for big stakes

Bookmakers usually encourage people to place bets on doubles and the so-called parlays. These are multi-bets, where in one coupon there are at least three different events. Of course, the ratio in such cases is much higher than in case of single or double bet. However, the chances of winning parlay is significantly lower than you could expect! That is why the worst value is in case of multi-bets.

Read also: Is AI going to dominate the betting market?

Of course if you manage to find an event with interesting value, then multi-bets can be not only very profitable, but probably one of the most profitable bets you would ever do. However, it is extremely difficult to find ones and it is better to leave big stakes alone for now.

7. hink long-term

Always remember that there are days when you are going to win several bets, but there might be a day when you lose several bets. That is why you have to always think about bigger perspective. In other words, you need to prepare yourself for a days with great gains and great losses.

It means that you need to have funds that will allow you to play for longer than several days without a win. Keep in mind that like any other investments, betting is a marathon, and not a sprint. Even if you win big at the beginning, you will most likely encounter some difficulties with more losses. That is why you have to be prepared for better situations and for worse situations.

Summary and conclusion

Although these ideas have been around us for quite a long time, it doesn’t mean that you know them. Simply because a lot of bettors don’t care once they learned a thing or two. However, if you wish to be a successful bet placer, you need to remember about all these tips, because eventually they will be very helpful.