We’ve all laid down some bets at a sports book or bookie for various reasons. You got a good tip, connected the dots on a news announcement, ran some statistical analysis, bet on your favorite team or one of a hundred other reasons. The problem is that over time, you win a few and now you think your an oracle of sports betting, or at least a great investment to make some extra dough on the side.
But like many punters out there today wagering on football or basketball or whatever their favorite sports may be, either never take the time to learn the few fundamentals that are characteristics of winning sports bettors, sports investors and sharps.
So if you forgot, or just never learned, here are 6 forgotten tips to beat your bookie on this weekends game.
1. Learn to make smart bets
There are a number of rules that apply to this, and while some are about the numbers, others are about which teams you should, and shouldn’t bet on.
- For instance, while each bet should represent about one to two percent of your bankroll, you can reduce this to 0.5 percent if you aren’t confident about a bet. Similarly, you can increase the bet if you’re very confident, but never place a bet that exceeds four percent of your bankroll.
- There are also some experts tipsters who say never to place a bet if you aren’t confident, because it’s better to walk away and find a better bet that you feel good about.
- Many experts recommend not betting on your home team in any sport, because your bias can cloud your judgement, and this can lead to great losses
2. Create a betting schedule
Don’t just bet on every game: every week, look at the upcoming games and pick the ones you want to bet on based on your confidence in the potential bet. One tip is in your free account in our site (SocialSportsBettingPicks.com), you can set any game to watch, and one-click set an Odds Alert to notify you if the games odds swing to your target rate, giving you a good buying (or betting) signal for the game. And if the lines don’t hit your target…perhaps you’re better off waiting for the next one.
- Don’t be afraid to walk away from a bet right before the game. Odds change, lines change, and point spreads change, and if you’re no longer confident about a bet, either don’t make it or reduce the bet.
3. Don’t chase bad bets
This refers to the practice of trying to recoup losses from a previous bet with more betting. It’s dangerous to do this because many people will set aside good judgement and place more bad bets in an attempt to win back what was lost, and this results in further losses.
- The opposite is also true: don’t chase a good bet (one where you won) with more bets in an attempt to win more or double your money. Have a betting schedule or routine and stick to it.
4. Shop for the best lines
This is where having accounts with multiple sportsbooks, will come in handy, because some will offer better moneylines on the same games, meaning you have to risk less for the chance to win the same amount of money.
- The best time to line shop is about an hour before a game.
- To get the best value, consider opening accounts with at least three books.
5. Don’t be afraid to bet on the underdog
This doesn’t mean betting on a long shot, but rather betting on the underdog when the odds are right. Sometimes, the favored team is chosen based on popularity rather than skill, so it doesn’t necessarily mean the favorite will win.
6. Take advantage of matched betting
Matched betting involves taking advantage of the bonuses and incentives offered by books to place bets for and against the exact same event. Learn more about Match Betting and how to beat the bookies for free, here.
- For instance, in a basketball game between the Raptors and the Knicks, you would place a bet for the Raptors and then match that same bet against the Raptors.
- Matched betting is all about taking advantage of free bets and betting for both possible outcomes on the same game, so this type of betting is as near to risk-free as you can get in gambling.