Just as the best teams succeed because they have a gameplan and stick to it, even if things don't immediately go their way, your only chance at successful sports betting is to design and implement a system that works within the parameters of the bankroll and the knowledge that you have in your possession. Should a football team give up an early touchown, they are aren't about to try and get it back with a Hail Mary pass on the first play from scrimmage of their next possession.
Successful Sports Betting Is All About Strategy
Neither should you if you have a bad day of wagering. Long before you place that first bet, you need to sit down and design your wagering gameplan. You will do this by following a few simple yet logical rules. First of all, don't bet more than you can afford to lose. If you have $1000 to bet on the NFL this season, then you must limit yourself by playing $25, $50 and $100 bets over the course of the season. The general rule of thumb followed by bettors is to never utilize more than five percent of your bankroll for wagering on games.
Maintain A Steady Pace
You wouldn't eat an entire cake in one sitting, so don't go gambling most of your bankroll on the first week of the season, because if luck isn't on your side from the get go, you'll be in a big hole before you know it. A good friend who is an expert horseplayer gets the program each morning, analyzes it and chooses his bets well before the race will got postward. And win or lose, those are the only bets he will make that day. He has his strategy, he sticks to it, and let me tell you, he wins far more often than he loses.
Don't Throw Away Good Money After Bad Wagers
Don't go chasing your losses. Even the best teams in sports are bound to lost at least 20 percent of their games. You have to expect that even if you have a great year of wagering, their are going to be days where everything goes wrong and all your bets are losers. Again, here is where the gameplan must be adhered to stringently. Follow the blueprint you've laid out. Take your losses in stride. Consider it similar to playing the stock market. Some stocks will take off instantly, where others will turn out to be duds that never increase.
Keep Your Winnings
Set your winnings aside in a separate account. Don't make bets from what you've won. You have to look at sports betting from a business point of view. You are the company and your bets are the company's investments. The winnings you accrue from successful wagers are the dividends, the funds that will keep the company in business going into future years. At the end of the betting season, when you sit down and assess, that's when you should take your winnings into account as part of the big picture.
Don't Follow The Crowd
An uneducated consumer is an oddsmaker's best friend. Popular teams are always going to draw more action, whether it be the New England Patriots in the NFL, the Golden State Warriors in the NBA or the Pittsburgh Penguins in the NHL, so you can expect that in games involving these high-profile teams, the odds will tend to be skewed in favor of the more popular club because the bookmakers recognize that more money will always be bet on these teams. That's why it might not be a bad idea to wager against them.
Use Your Head
Your dad loved the Chicago Bears, his dad loved the Chicago Bears and you love the Chicago Bears. But when it comes to betting on Bears games, never let your passion override your common sense. Don't ever allow your personal feelings to impact how you wager. You may hate the Minnesota Vikings, but it the Vikings are the chalk against the Bears, you play the Vikings. This isn't personal, it's business. When you bet with your heart, you only give yourself a heartache.
You Better Shop Around
When it comes time to wager, the beauty of the explosion in sports betting, with so many online sportsbooks and now, with legal sports betting blossoming in the United States, is that the consumer is king. You have options upon options when it comes time to wager, and these sportsbooks recognize that they must compete to earn your betting dollar. That's why the wise wagerer looks around before placing a bet. Lines on games will vary from book to book, so do your homework and line shop for the best offer at your disposal.
Stick To A Sport
Sure, betting on jai alai or greyhound racing might be a kick, but do you really know what you are doing? The list of sports available for wagering is growing exponentially, but that doesn't mean you are required to sample from every section of the menu. Everyone has a favorite sport and in general, that's the sport you know the most about. So when it comes to betting, it's wise to stick to that spot. If you go for the gridiron, bet football. If pucks are your passion, play hockey. If you are a seamhead, then baseball is the game on which you should wager.
Don't Drink And Bet
It sounds crazy that we even have to bring this notion up, but the fact of the matter is, friends don't let friends wager drunk. Keep a sober heard when betting. There's a reason why they dole out free booze in the sportsbooks of casinos and it's not because they really like you. Fill your glass with water, soda or coffee, maintain a sober approach and keep your eyes on the prize. Then, after you collect your winnings, go ahead and go out on the town and celebrate. After all, you've earned the money, and the right to enjoy it.