In this article, we will name five basic principles that every bettor should keep in mind when placing bets on sporting events, and we will discuss each of them in more detail.
Even years of proven betting strategies do not guarantee ultimate success. That said, there are a few basic principles, seemingly simple, but if you stick to them rigorously, you can eventually become a successful bettor.
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Knowing these principles will be useful, of course, first of all for beginners, but experienced players, who have “eaten a lot of salt”, perhaps, will discover them again, or understand what they previously made strategic mistakes.
Strive for the end goal
At some point, a number of players lose their bearings and stop understanding what they really want from betting. This may not apply to those who place bets purely for fun, but everyone else undoubtedly wants to make a profit in the end.
But you should not measure your success by every single bet placed, because even with the most accurate prediction there is always a chance that, for example, a ridiculous ricochet in the last seconds of a soccer or hockey game deprives you of a seemingly sure win. Therefore, every bettor should be aware that sports betting is a game in which it is important to stay on top in the long run, despite the ups and downs.
One cannot pay too much attention to individual bets. In practice, this means that if you lose, you should not try to win back the amount you lost immediately and blindly – on the contrary, you should carefully analyze the reasons for your loss, in order to avoid making a mistake next time.
On the other hand, in the case of winning should not be a sense of excitement unnecessarily carried away – this leads to the placement of ill-considered or unreasonable bets. Players should always be aware of the consequences of their decisions in a week, month or year.
Betting requires persistence, patience and determination. Success never comes instantly. Yes, there are times when beginners get lucky, but you should remember that you can lose everything the very next day. Analyze each bet, win or lose, don’t stop there and remember the ultimate goal.
Study the competitors
Newbies, when betting at a bookmaker’s office, believe that they need to beat the bookmaker. The logic here is simple: since the office takes money from them and then, in the case of a winning bet, returns it with a profit, it means that it is the competitor. Only with time does one realize that in fact the bettor is not fighting with the bookmaker but with the market, or rather, with other players present in the market who have placed the opposite bet.
It is obvious that if you win, it means that some other player, probably living on the other side of the globe, has lost. As for the bookmaker, at any outcome of a particular event he will make a profit due to the margin included into each odds; otherwise all the “Books” would have gone bankrupt long ago and ceased to exist.
After the initial odds are published (the so called “opening line”) their further changing is also conditioned by the stakes of other market participants, which is what you are competing with for the final reward. However, such competition is relative: the one whose predictions are the most accurate will always be better.
Learn from Mistakes
Even the most experienced professional bettors can’t win all the time. They may have made the most accurate prediction, found the most inefficient odds – but still lost due to chance. That said, it’s likely that nine out of ten times their bet would have played out, but not this time. That’s why you shouldn’t get upset about every lost bet.
Some people think that professionals in the betting world have found a gold mine for themselves, and lead a carefree and luxurious life, enjoying a sense of their own superiority over all the other, less fortunate bettors. In reality, however, their work is painstaking and far from easy, and their advantage over the market is achieved not by the fact that they win almost all the time, but by the fact that they lose less often than others.
Loses must be learned to be overcome, and the best way to do this is as follows. If your bet didn’t play, analyze it, “scroll” it from all sides, and ask yourself if you did everything right, and if you would bet exactly the same bet another time. If the answer is yes, don’t hesitate to move on. If the answer is no, you may want to reconsider your approach or your strategy as a whole.
Accept the impossibility of controlling everything
It is important to remember that, no matter how hard we try, we cannot completely control all the distortions associated with a particular sporting event, and therefore we can never be 100% sure of the success of our bet. Many people find this difficult to accept and it sometimes provokes them to make inadequate decisions when placing bets.
Meanwhile, such distortions can affect everything from selective memory and changes in previous opinion to the reason we do or do not place a certain bet. By their definition, they cause us to deviate from rational judgment, which does not bode well for success in the world of money risks.
Manage your gaming account
A wager of a thousand or a million rubles may mean the same thing to two different players. Regardless of its size, optimizing your gambling account is one of the main keys to long-term success. Money management plays an incredibly important role when placing bets. If you place bets for the sake of making money, the difference between a successful career and going broke lies in maintaining your playing fund by maximizing potential winnings and limiting possible losses.
In order to maximize your returns, you not only need to optimize the amount of each individual bet, but also consider the odds at which they are placed. The difference between 2.12 and 2.14 odds may seem insignificant, but in the long run even it makes a difference. At the same time, an extra 10 rubles added to a potentially winning bet can bring you a total profit of tens of thousands per year, which is a totally different figure.
We hope that the principles stated here will help you when placing bets.
