So here’s the thing..I used to be terrible at gambling. I had no idea how much money I was losing. I knew it wasn’t a lot, it could have been $10 a week or $20 a week. But to not know how much your losing is the first sign that you don’t have a clue what your doing.
Now things are going better. Two weeks ago I had a five game Parlay win and last weekend my final match in my Parlay lost but I was able to cash out for a 11X profit. I was in control of the stakes, the risk and when I should cash out for a profit.
I was actually enjoying it because I had more control over what I was doing. So I want to share 10 tips which have helped me get to this stage.
1. Limit the number of teams in your parlay. I’ve been there myself. I used to pick as many 10 matches in my Parlay and I never came close to winning. By limiting your number of selections to 3 or 4 games you have much better chance of winning.
2. Go for low odds. Unless you are in a very strong situation then it never pays to be greedy. Gambling will be far more enjoyable (and potentially profitable) if you are regularly picking up winners or have strong chance to cash out and get your stake back. Not only do high odds bets rarely win the chances of cashing out reduce massively if your is losing.
3. Don’t place to many bets. I tried this method once. Just placing lots of $1 Parlays at massive odds. Its just like buying a lottery ticket. You have a slim chance of winning and the experience gets frustrating. It’s best to place a limited number of bets that you are in control and can decide when the best time to cash out is.
4. Cash out at the right time. Let’s say you place a $10 bet with the chance to make $40. Your team are only 2 points clear and you can cash out for $30. At this stage a lot people think they are no longer gambling but the truth is you are. You have the option to cash out and take home a profit. Sure you might win an extra $10 if your team goes on to win but often its smart to quit whilst your ahead and take the profit.
5. Mix your sports. This point has helped me greatly. Let’s say your looking at the weekends NFL fixtures out pick out four strong teams to win. It only needs an upset in football that weekend for your bet to lose. But choosing two football games and two soccer games you are spreading the risk of hitting an upset across multiple sports. Many professional gamblers mix their sports to held avoid upsets.
6. Bet with your head. Everyone wants their favorite team to win or believes that losing team will change their form around but the truth is whatever your emotions tell you they have nothing to do with the outcome of a sports match.
7. Be consistent. A lot of gamblers jump from one betting market to the next and all they end up doing is confusing themselves. Yes they can make money in the process but they also miss opportunities and fall into a vicious cycle of repeating strategies that don’t work. High odds and not monitoring what is taking place. You might be betting on corners in a soccer match whilst you have the chance to cash out on a Parlay with a football match.
8. Use live betting to reduce your losses. If you a strategy which regularly hits winners but you are making to many losses then you still won’t make money but if you can create a situation that enables you to reduce your losses then when you do win you will be in an overall profit. Sure we would like to take two steps forwards every gameday but there’s also nothing wrong with taking two steps forwards and one step back. Use live gambling to bet on the score or winning margin of the opponent when you are losing to reduce losses instead of cashing out completely.
9. Have a plan in place. To gamble responsibly and effectively you need to have a plan in place. Sure you can set yourself a budget but by having a plan you will not only control your gambling but learn and enjoy the process. When planning your bets you also need to factor in your other daily activities. For example, you may have a 4-Way Parlay with two soccer matches on Saturday and two football games on Sunday. If both the soccer matches win on Saturday you need to have a plan in place of how you will handle to the two football matches. If they take place at the same time you will find it harder to trade out so you may want to chance your Parlay to two football matches which take place at different times. With a plan in place you will not only identify how to reduce your losses but naturally control your budget and also enjoy the experience more.
10. Understand the rules and mix your betting platforms. There hundreds of different gambling websites available. Each with their own rules and betting limits. For example, some betting websites pay out early if your football team is 17 points clear or will return your stake if a soccer match finishes 0-0. Understand the rules to identify opportunities to lock in profits and reduce your losses. Also ensure that you are using multiple betting websites. If you do go on a hot winning streak with a single betting company you will quickly find that you will trigger their betting algorithm and close your account. That’s just how it is but are there are simple methods to avoid it.
So I hope these 10 sports betting tips helped. Enabling you to not only enjoy betting on sport but also get close to making a profit.