We’re often contacted by aspiring sports bettors that are struggling to make money and want the advice of ours. Many of them have fallen into the trap of over complicating things, so we know EXACTLY what advice we have to offer them.
Keep. It. Simple.
Honestly, this is among the most valuable pieces of advice we’ve to offer. Lots of folks believe that the only way to beat the bookmakers is to make use of strategies and systems which are super complex, but they are WRONG.
Yes, you’ll most likely have to use advanced strategies in case you would like to make SERIOUS money. That can and must be the long term goal of yours, but when just starting out any style of profit is well worth celebrating. Small profits can be achieved through simple strategies. Once you consistently start making small profits, you can see what adjustments need to be made to get it to the next level.
For now, we’ll focus in on the wide range of simple betting strategies that will enhance the overall chances of yours of making money. We’ve detailed the best ones below. None of these’re perfect, and they are all limited to some extent. Nevertheless, they’re best to use while you are still learning and developing your betting skills.
As you gain experience and knowledge more, you will most likely have the ability to adapt these methods and make them even more effective. For now, though, just focus on keeping it simple.
Betting two % or even Less of Your Bankroll
A common scenario for casual gamblers is actually to enter the casino with around $200 dollars and make bets between ten dolars and $25.
This seems harmless in theory, if you are gambling with expendable income. But the problem is you’re very likely to run out of money this way.
One good idea that comes from sports betting is only risking 2 % or less of your bankroll on any given wager.
Professional and serious amateur sports bettors do this to minimize their short-term risk. But you can truly apply this system to any casino game.
The Martingale betting strategy has 2 things going for it:
This system will theoretically provide a profit every time.
The Martingale calls on you to double bets after every loss. The objective is usually to always win back the losses of yours and earn a small profit in the process.
You must also make even money bets with the Martingale in order to simplify things and minimize your risk.
Pros of the Martingale The Martingale’s best aspects include its ease of use and how it is able to theoretically achieve success.
As long as you’ve the capital to continue doubling bets after losses, you’ll eventually win back your money. You will also book small profits along the way each time you win.
The Martingale is one of the best systems for the people looking for consistent short term profits.
Cons of the Martingale The Martingale’s downside is that it is an incredibly risky strategy. You will be betting much more than your original wager after five to six losing wagers.
This can make you hesitant to pull the trigger on the next double bet. Even worse is that your bankroll will vanish if the losing streak continues.
One other issue is the fact that casinos impose table limits to prevent wealthy gamblers from the using the Martingale to the fullest. Or else, Mark Zuckerberg ($56 billion net worth) would always win with the Martingale as his bankroll would probably never run out.
You will inevitably run right into a losing streak that’s long enough to hit the table limit. In this case, you take a major loss because you can no longer double wagers to win everything back.
In the context of betting, the term steam is used to describe significant movements in the betting markets that happen in a very short space of time. There is a theory that such techniques are often caused by professional bettors and betting syndicates putting their money down. Because they typically wager for very high stakes, the weight of their money by itself can cause lines and odds to move significantly.
Chasing steam involves watching for these big movements, and then betting on whatever the money appears to be materializing. The aim would be to “copy” what the smart bettors are doing, since they are the ones making the most money. In theory, this makes a lot of sense.
Unfortunately, chasing steam is EXTREMELY challenging these days.
There seemed to be a time when this strategy was quite helpful. The betting markets are definitely more efficient than they used to be though, and there is a great deal more money at stake. This means that big moves in the odds are a lot less common. It’s also hard to understand what causes them when they do happen.
Even in case you can identify steam moves, the collective market itself moves much more quickly now. If the odds at one bookmaker or perhaps betting site change dramatically, all the bookmakers and sites make similar changes almost instantly. This will make it very difficult to get some money down at the same prices as the smart bettors. You have to be able to spot opportunities once they happen, and react immediately. This is simply not practical for most bettors.
With all that being said, this is a strategy to check. Especially in case you bet regularly, and are often paying attention to the odds and lines. It’s really likely that you will spot steam moves on occasion, and be able to take full advantage of them. This will not happen on a daily basis, but you’ll still make some extra profits every now and then.
The Martingale in Skill Based Games We just covered how the Martingale is a very risky betting strategy. What is more is this method does not do anything to change the house edge.
But imagine if you could incorporate the Martingale’s effectiveness with skill?
This betting strategy can be profitable in skill based games as DFS and sports betting. Not merely are able to you win back your losses with the Martingale, but you can also swing the odds in your favor with enough skill.
Here’s an example of how this works in DFS:
You lose a $10 $1 (fee) head to head contest (- eleven).
You lose a twenty dolars $2 head to head contest (- 33).
You lose a $40 $4 head to head contest (- seventy seven).
You win an eighty dolars $8 head to head contest (- 5).
You win a ten dolars one dolars head to head contest (5).
The tough thing about DFS contests is you’ve to fork out an added 10 % entry fee to the sites. But as the above example shows, the Martingale strategy can still enable you to book a profit even in case you lose the majority of contests.
Let us look at one more example involving sports betting:
You lose an $11 bet (- eleven).
You lose a $22 bet (- 22).
You lose a forty four dolars bet (- 77).
You lose an $88 bet (- 165).
You win a $176 bet and earn a $160 profit (- five).
You win an $11 bet and earn a $ten profit (+5), The drawback to sports betting is that the house takes ten % juice from the losing side. But the Martingale can really make it easier to be profitable when you string together two or perhaps more wins.
Pros of Using the Martingale in Skill-Based Games The great thing about working with this system in skill based contests is that you can overcome short term variance by consistently winning back losses.
The sports betting example above shows how you can earn back your losses plus a small profit even after several losing wagers.
Another benefit is actually you are not simply using the Martingale in a casino game with a house advantage. Instead, you are playing skill based games.
The end result is actually you get the enviable combination of getting your losses back and having a chance to win long term profits.
Cons of Using the Martingale in Skill Based Games
You’re taking a risk on 3 fronts with this betting strategy:
You may be at a skill disadvantage to opponents/other bettors.
You’re still dealing with the Martingale risks.
You need to pay 10 % fees (DFS) or perhaps 10 % juice on losses (sports betting).
The first issue is essential because you could be dealing with an even worse proposition compared to house-banked casino games if you’re not better than opponents.
Add in the standard Martingale risks along with sports book/DFS fees, and non skilled bettors are actually looking at a potential bankroll disaster.
Value betting may be the process of getting maximum value out of situations where you’ve a long term advantage. This term is frequently used in poker, but it can also describe how blackjack card counters operate.
Value betting requires being able to spot and take advantage of favorable situations.
A good example is when a poker player believes they’ve probably the best hand and bets in a way that extracts maximum value from their opponent. Going further, their wagers have to be big enough to get the most value from the opposing player, yet small enough that the opponent won’t fold.
Another example involves how card counters keep track of the deck until the count swings in their favor. They then make larger bets to maximize situations where the deck is actually rich in 10s and aces.
More Simple Betting Strategies
You will find three more simple betting strategies that we’d like you to consider using.
Building simple statistical models Following trends Claiming bonuses at online betting sites We have not covered these in as much detail as the others on this page as we’ve already covered them in another section of the site of ours. Here is a quick overview of each one though, along with links to even more information.betting strategies that work