Most successful bettors know that just innate understanding of sports betting is not enough as commonly believed by most people.
Football is a beautiful game that fills you with all sorts of emotions during the 90-minute play, but you need to have skills more than the love for the game and understanding of the scenarios and situation to be a successful punter. Ask any skilled soccer bettor you know, and he will tell you insights and knowledge of the game are ok, even necessary, but to ensure that you are successful, in the long run, you need to nurture few crucial skills that have nothing to do with football at all.
Yes, you read it right. To give yourself the best possible chance to earn secondary income through betting, you have to master these skills.
Become a Number Cruncher For Sports Betting
No matter what else you believe, but sports betting is entirely based on mathematics, more specifically, probability. And, when we say number cruncher, we don’t want you to go all Russel Crowe or Stephen Hawking, but skilled enough to know where math is playing its part in a bet and where not.
If you get good enough with numbers to understand whether the displayed soccer odds are correct or not and how you can mathematically prove it, you are golden.
For instance, any ardent football fan will tell you that the Manchester United can easily beat the West Bromwich Albion at home, but as a skilled punter, your position must not be set by belief but on what odds suggest. Break down the event based on some facts-how many games did the Manchester United has won against WBA at home out of 10? The number would give you a fraction that you can use for the calculation. For instance, if it has won 6 matches out of 10, then you have 6/10 odds. In a bookmarkers’ parlance, it might be represented as 3/5. Now you know that the odds offered are quite correct and you can confidently bet on the same.
Manage your Money Efficiently
You might be the most successful sports bettor in the world, but if you are clumsy with the money management, your ambition to make betting as a secondary income source might never become a reality.
Punters are usually known to stake more when they are on a winning streak, some do the same when they are losing. An interesting fact is that there is no such thing as a winning streak. Statistically speaking it is common for bettors to connect wins and losses at some point before regressing to the mean. Never fall in the trap of perceiving good or bad run, be objective and practical, when you bet long enough you will get the experience with both.
Another rookie mistake bettors make is to stake different amounts depending on the perceived value of the bet. For instance, you are more likely to bet $10 on Arsenal beating West Brom but $2 on Man City beating Chelsea. Now you might think that this behavior is based on logic but what you miss to anticipate (some of you) is that the bookmarkers have already done the value evaluation part for you. Do not try to bring your personal logic into the picture. When you differ the stake for the same odds you are actually making it easier for sportsbooks to make more profits.
It is strongly recommended that either you level stakes on each and every bet you place or wager a certain percent of the bankroll on every bet.
Don’t be just lucky, be lucky and good
On occasions, luck might play a part in winning football matches and the same happens in betting too. If you think about it, players falling over during a game at the wrong time, bad referring decisions, weather conditions, injuries, all of it can be called a stroke of luck. Who can forget the Liverpool vs Sunderland match in 2009 when a rouge beach ball that found a way into the pitch directed Darren Bent’s wayward shot into the net, now that’s luck brilliantly at play.
Sports betting is also ruled by the same wisdom when it comes to luck- ‘the harder I work, the luckier I get.’ Do your research, know the teams, know the stats, and learn to anticipate the football odds, and you will become a successful long-term bettor with or without luck.
Be void of emotions
Emotions make us decent human beings, but for sports bettors, emotional responses can wreak havoc.
It is not uncommon to see bettors get frustrated from a particular situation during the game and put a stake or succession bets throwing logic out of the window. We understand that acting in response to assuage of the moment, but as a punter, you have to keep it together. You are not allowed to lose your mind over the spontaneity of the events.
Keep away from these emotions-hypersensitivity, chasing losses, inherent bias, overconfidence and illogical perception. You have to find your own way to deal with these emotions or else they will ruin your betting career.
Most successful bettors are methodological in their approach who pick the selections and matches in advanced based on their calculations, place the wagers and walk away. If the bet ends in profit then good, if not they refine, improvise and repeat. They seldom fret over the losses.
Measure, Analyze, Improve
Remember-what can be tracked, can be improved.
Recording and analyzing your bets is the only way to come out of the ‘fumble in the dark’ business. Analyze what works for you and which areas need improvement. We recommend you keep a spreadsheet of your performance and employ an analytical approach to easily find out your strong areas and improve the segments where you lack. You might be able to spot a draw from a mile away or have a penchant for win-draw-win odds, this is where your edge lies, use it to your advantage.
Becoming a successful bettor in sports betting has very less to do with luck or even having an innate knowledge of the game, its more about nurturing the qualities that make you successful in the long run.