Simply put, sports betting is the fastest-growing industry in the United States. Since it became legal, the industry has amassed over $135 billion.
Sports betting is allowed in different corners of the country. If you want to start sports betting, make sure that your state allows it! If so, it’s time to create the best sports betting strategy for you.
Read the rest of the article to piece together your new strategy!
The Ultimate Guide to Creating the Best Sports Betting Strategy
If you are a sports fan and looking to make money, sports betting is for you. With several sports gambling apps, you can bet easily. You will make money and you will enjoy having more excitement while watching a game.
Understanding how to bet is crucial. Any good strategy needs to have knowledge and information. If you do not understand how betting works, you will not make any money or win your bets.
Create a Budget Size
To start betting, give yourself a budget. Do not go over this budget and make sure that you are being honest with yourself. If you do well and win your bets often, you can make your budget a little bigger.
This budget will be different for each person. Factors that should go into your budget size include sports knowledge and the amount of time sports betting. If you are a beginner, it is wise to start with a small budget.
Manage Your Bankroll
Without money, you can’t bet. You need to constantly check on your finances to ensure that you can keep betting. If you do not do this, you can expect to stop betting faster than you want to.
This is important for outside of betting as well. If you do not manage your finances properly, you will not have enough resources to bet.
Create Units
Units are what you wager each bet. These will also be different for each user. Set aside a certain amount of money based on your budget to place on each bet you make.
It is a good idea to make a unit 1-4% of your entire budget. If you place several bets a day, these will be smaller units. However, if your strategy is to place one bet every couple of days, you can have a larger unit size.
Analyze and Reevaluate
If you don’t think you are doing very well or making as much money as you want to, make some changes. Be thorough and find what the problem could be. Once you have the problem, find the solution.
Make your units smaller if you keep losing, and increase them if you keep winning. Each bettor needs to reevaluate based on what they want to have as an outcome.
What NOT To Do With Your Sports Betting Strategy
You might make some mistakes when you are sports betting. However, you want to keep these to a minimum. When you are creating your strategy, you need to make sure that you are doing everything you can to avoid these common mistakes.
Not Caring About Your Money
If you start to slip on checking your bankroll, you could be in trouble. You need to constantly check your money. If you don’t match, you could slip into a bad situation and owe more money than you can make.
Never go all in. Make sure you are not using your entire budget on just one bet.
High Emotions
Sports are emotional. This is especially true if you are betting on your favorite team. However, you need to remember that you are betting to make money. Don’t let your emotions take hold.
Stay unbiased and money-oriented. The goal is to make money, not to see a certain player do well or a team win. That’s a nice bonus but do not get caught up in this.
Betting Without Knowledge
Know the sports you bet on. You can have multiple sports in your betting strategy, but you need to know them. You should know how each sport is played, the key players, and more about each game.
You need to conduct research before each game that you are betting on. If you do not know much about the sport, you will be losing money faster than you could imagine.
Create Your Sports Betting Strategy
Now that you have some basic information, it’s time to create the best sports betting strategy for you. Remember, a sports betting strategy will be different for each person.
Decide Your Bets
Several bets can be placed. Sports betting strategies can focus on one type of bet or several types of bets. This will vary based on the expertise and knowledge of the bettor.
Moneyline bets
Moneyline bets are the easiest bets to place. All you need to do is select who is going to win the game. You can take the better odds or you can research to find probable outcomes for any game.
This bet should be a staple in any sports betting strategy. It is the easiest way to make money in sports betting!
Betting the Spread
The spread is a little more complicated. In the spread, you select how much a team will win or lose. This bet is referred to as the 50/50 bet where it can go either way.
Here is an example of spread betting. If the Dallas Stars are +2 against the Chicago Blackhawks, then the Stars need to not lose by more than 2 points. If the Stars lose by more than 2 points, you have lost the bet. If the Stars lose by 1 point or win the game, you win the bet.
This is a little more advanced but should be in every strategy.
Over/Under Betting
This type of bet is also very easy. All you need to do is select if the game total will be over or under a set amount of points. Each game will have a set number provided by the sportsbook that is based on team trends and previous point totals between the two teams.
Parlays
Parlays are the bets that are the most fun. Here you select multiple outcomes from multiple games and place one large bet. You will have much larger odds but also a much larger risk.
Stringing several bets together is challenging. The more outcomes you add, the more unlikely the bet is to hit. However, this is extremely fun but could cost you a lot of money from losing.
Other Bets to Add to Your Strategy
There are several other bets you can place. While creating your strategy, it can be fun to take advantage of these fun options. These options include live betting, prop bets, and futures bets.
Prop Betting
Prop bets are super fun and can be thought of as a game within the game. These bets do not include the spread, total, or moneyline. They are smaller bets that can occur.
These bets are normally in the form of “yes” or “no.” Wherever you bet, you will find different prop bets. The most popular prop bet each year is the color of the Gatorade for the Super Bowl-winning team.
Each game usually has several prop bets. An example of prop bets in the MLB would be a certain player to record a certain amount of strikeouts or a certain player to hit a home run.
Live Betting
Live betting on sports is for those who have been sports betting for a while. These bets are hard to predict and require quick responses to plays happening in real-time.
Online betting allows for super-fast reactions within each game. This way you can make a bet in between plays or predict the next play. These live bets have different odds than the closing lines. They will change based on the flow and trajectory of the game.
Futures
If you have a magic ball, this is perfect for you. If you don’t, these bets are still perfect for you. Future bets require you to select an outcome of something that won’t happen for a while.
This could be the Super Bowl winner, league MVP, or anything along those lines. Future bets are different for each sport but will often be around league awards or team win totals.
Future bets have great odds. Since they are not going to happen for a while, a lot can happen between the time you place the bet to that event occurs.
Create Your Account and Start Betting
Having the best sports betting strategy is crucial to each bettor. You need to know what works best for you and how you can make the most money.
There are many different sports and many different bets you can place. Stay true to your budget, understand the sport, and be honest with yourself. If you feel like you are becoming addicted, step away for a little bit.
Have more questions? Keep browsing through our articles for answers!
