Sports betting has become popular over the last few years due to various factors promoting its growth. Top among the reasons is its lucrativeness – good punters can earn a living by placing bets, which has prompted many people to consider this a potential career. Another great reason is the increase in reputable bookies like Mozzart MK due to the increased legality of sports betting in different regions. Take North Macedonia as an example – authorities have licensed physical and online sports bookies, enabling punters to access domestic and international options. Other factors include 24/7 access to betting opportunities, the affordability of wagers, the increased availability of bonuses and rewards, and a growing betting market. So, how can you take advantage of these and more factors to excel in this industry?
Tips To Succeed As A Sports Bettor
It’s easy to see someone making a living out of sports betting and assume it’s because they are lucky. However, that is not the case. Sports betting is like playing in a casino; you can only get to the top if you rely on a good strategy. Below are tips you can use to further your career.
1. Get The Basics Right.
In casinos, you can play games of chance (like slots) and win without knowing much about the game. But with sports betting, relying on luck does not work. You should treat all wagers like a potential investment. Say, for example, that you want to place a wager on the EPL matches. You’d need to review the teams in the lineup, how they have performed in the past, their playing styles, their players, and their management. This knowledge helps you pit them against each other and determine the team with the upper hand. Always do your research regarding teams (or people) you want to back.
Additionally, look at the different markets to ensure you understand how betting works. As a beginner, it’s best to start with the simple markets, such as overall winner. Later, you can move on to more complex wagers that offer to pay out more but are harder to predict.
2. Choose The Best Deal.
Suppose you want to buy a gift for a loved one. What would you do? Most people start by looking at different options before choosing the one that they like best. The same goes for sports betting. You want to choose a reliable bookie who will have your back in various ways. Consider the factors below:
- Are their odds competitive? The better they are, the more you get paid when you get the predictions right.
- Do they offer rewards? Consider what perks you get for signing up or making a deposit and the requirements you must meet to cash in on such rewards.
- What payment options are available? They should be convenient to you. You should also consider the deposit and withdrawal limits and timelines.
- Do they have a license? Licensed bookies operate within set guidelines that govern their finances and operations, which makes them more reliable.
When reviewing possible options, consider reviews about the bookies regarding their betting markets, customer service, and overall user interface.
3. Manage Your Money.
Consider an investment in shares. What would you do to ensure your money worked for you? Those are the same strategies you should use when investing in wagers, as follows:
- Have a goal. How much money do you want to get from the wagers? For example, you could start with an investment of £100 that you want to double in a month. That goal lets you know when you are doing well, as it is your key performance indicator. It also helps you develop a good strategy as you know what you want and can thus figure out how to get there.
- Set aside a reasonable amount. Placing wagers is like an investment – you have no control over how much money you get back and whether you can recoup it. As such, you should only use money you can afford to lose. Once you run out of money, you can stop playing, as chasing losses is almost always a sure way to lose more money.
You should also figure out how you will manage the money you earn. For example, you can decide that you will take 30% of the money as profits for each win and invest the rest into the games.
4. Track Your Decisions.
Like investors, punters make mistakes and learn from them. An easy way to progress in this industry is to take note of your failures and strengths so you can tweak what’s necessary to refine your strategy. Here are things to consider:
- Your rationale. Are you making decisions based on facts, or are your emotions getting in the way? Bias can make it hard for you to be objective.
- Your lines. Are you choosing the markets that offer the best value or relying on those whose profits are below par?
- Your specialisation. Have you chosen one niche, or are you spreading yourself too thin?
An excellent way to keep winning is to reduce or eliminate your bias, choose the best lines, and choose one sport and betting market. Doing this helps you improve your winning rates. Becoming a skilled punter is not an overnight process. Instead, it requires you to be honest with yourself and maintain a high level of consistency that helps you actualise your goals.
