Struggling to make money out of sports betting? Maybe you need a strategy! Lots of professional punters have sports betting strategies that they swear by. Others manage to get ahead of the bookies without using a strategy at all. But there are plenty of options out there.
Once you have a full understanding of odds, markets and so on, you might start thinking about a strategy. There is a wealth of information on the internet about sports betting strategies, after all. But not all of the advice out there is good and lots of it is bad. Stick with us and we will help you to get to where you need to be.
What strategies are available? How do they work? And how do you know if one is right for you? What are the pros to sports betting strategies? And what are the cons? We’re here to tell you everything you need to know about sports betting strategies. So let’s crack on!
Sports Betting Done Right!
A lot of people who bet on the sport on a casual basis will never have considered a strategy. But without one, it is easy to lose track of what you are spending, winning and losing on gambling. A strategy can help you to stay on track rather than selecting random bets that have no cohesion
Sports betting strategies are not like the cheats some people use for poker, for example. There is nothing illegal or against the rules about having a strategy. The only point of a strategy is to make sure you are placing the right bets. Bet on the wrong things and you will lose more often than not. Therefore keeping track of all your bets is such an important place to start.
It might not be very exciting to keep a record of your bets. But it is a very useful thing to do. A very simple spreadsheet is all you really need to be able to do this. Just make a note of all your bets, the odds they were placed at, and whether they won or lost. Then, at a glance, you can see your winning and lose bets.
This is useful for a number of reasons. If you do not know which of your bets are winning, how can you hope to repeat the trick? And on the flip side, the same is true. Lose track of your losses and it is easy to keep making the same mistakes. And that is a fast route to losing what could mount up quickly to be a lot of money.
Most Popular Strategies Used for Online Betting
Recording your bets is just a starting point for a sports betting strategy. But what options are out there? And what are their advantages and disadvantages? Let’s have a look at some of the most popular options out there to help decide which is the right sports betting strategy for you.
Betting Strategy – Martingale
The Martingale betting strategy dates all the way back to the 18th century. That might be reassuring for people who want a proven history for their sports betting strategy. Founded in France, the idea behind the Martingale betting strategy is that it provides guaranteed winnings. This is obviously very attractive, so it is no wonder it remains a popular choice today.
For the Martingale betting strategy to work, the gambler doubles his bet after every loss. The theory goes that the first win would recover all previous losses plus win a profit equal to the original stake. But does this work on sports betting, or only on games such as roulette?
Critics of the Martingale betting strategy suggest that it can only work if the gambler has unbounded wealth, bets and time. As this is unlikely, a lot of people decide to steer clear. Another problem with the Martingale betting strategy is that information about losing bets is not necessarily useful to predicting what bets will win in the future.
Some users of sports betting strategies have also tried out the anti-martingale approach instead. Rather than doubling stakes after a loss, the bet increases after wins, while reducing them after a loss. This, on the face of it, seems to be a more logical approach to gambling.
Betting Strategy – Fixed Betting
This is a popular betting strategy for those who have a lot of patience. In theory, the fixed betting strategy should result in slow and steady increases in your bookmaker balances over time. But how does it work? It works like this.
Gamblers who use the fixed betting strategy bet a fixed amount for each bet. Let’s say for the purposes of this example that the amount in question is $100. With a 55 percent probability of winning the bet, the idea behind the system is that this method means your entire balance quickly will not disappear quickly.
Those who do not like this strategy say it does not make sense to use the same stake for all bets. It feels more natural to have a larger stake on a bet you are more confident will win. And if you are less sure, you could reduce your stake to a smaller amount. But for those who are not in a rush to make their money, it can be very useful and profitable in the long run.
Betting Strategy – Fibonacci
The Fibonacci betting strategy is similar to the Martingale betting strategy. This is due to the fact that the stakes involved go up with each losing bet. A negative progression betting system, the Fibonacci betting strategy works on the same theory as all other negative progression betting systems. That is as follows: higher stakes are more likely on winning wagers than on losing wagers. While it might not be the most straightforward betting system, those who use Fibonacci find it becomes less complicated with experience. Knowledge of the Fibonacci sequence of numbers is crucial for those adopting this betting strategy.
For example, the Fibonacci sequence begins with 1, 1, 2, 3, 5, 8, 13, and 21. You can work out the next number in the sequence by adding together the last two numbers. So 13 plus 21 would make the next number 34, and so on.
The idea behind the Fibonacci betting strategy is you move to the next number for your stake each time you lose a wager. In theory, this means that in the long run, you come out with profit.
Betting Strategy – Proportional Betting
Perhaps the key selling point of the proportional betting strategy is a simple one – you should not go bankrupt. This is because for each bet you will use a set proportion of your remaining bankroll, for example, 10 percent.
Some who bet on sports betting lines have been able to make millions as a result of this system. But if you have a run of losing bets you could find yourself quickly playing for very small stakes.
The theory goes that proportional staking should be potentially more profitable and safer than fixed staking. This is the case when judged over a long period of time. When you win when using the proportional betting strategy your returns will be larger. However, the opposite is the case as well. When you lose a bet using the proportional betting strategy, it takes longer to bounce back and rebuild the damage done to your bankroll.
That is all the basics covered for a number of betting systems. You can test them out for yourself to see if they work for you. But remember that they should be judged over a long period. It is also worth remembering that no betting strategy can even guarantee profits.