We’re often contacted by aspiring sports bettors that are struggling to make money and want our advice. Most of them have fallen into the trap of over complicating things, so we know EXACTLY what advice we need to give them.
Keep. It. Simple.
Honestly, this is among the most valuable pieces of advice we’ve to offer. Lots of people believe that the only way to beat the bookmakers is actually to use strategies and systems that are actually super complex, but they are WRONG.
Yes, you’ll most likely have to use advanced strategies if you would like to make SERIOUS money. That can and should be the long term goal of yours, but when just starting out any variety 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 will focus in on the great selection of simple betting strategies that can enhance the overall chances of yours of making money. We have detailed the best ones below. Not any of these are perfect, and they’re all limited to some extent. Nevertheless, they’re ideal to use while you’re still learning and developing your betting skills.
As you gain more knowledge and experience, you will most likely have the ability to adapt these strategies and make them much more effective. For now, though, just focus on keeping it simple.
Betting 2 % or Less of Your Bankroll
A typical scenario for casual gamblers is actually to walk into the casino with around $200 dollars and make bets between $10 and twenty five dolars.
This seems harmless in theory, in case you are gambling with expendable income. But the trouble is you are 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 the short term risk of theirs. But you can truly apply this system to any casino game.
The Martingale betting strategy has two 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 to always win back the losses of yours and get 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 the way it is able to theoretically be successful.
Provided that you have the resources to continue doubling bets after losses, you’ll eventually win back the money of yours. You will also book small profits along the way whenever you win.
The Martingale is one of the best systems for those looking for consistent short-term profits.
Cons of the Martingale The Martingale’s downside is actually that it’s an extremely risky strategy. You’ll be betting far more than your original wager after five to six losing wagers.
This is likely to make you hesitant to pull the trigger on the next double bet. Even worse is your bankroll will vanish if the losing streak continues.
One other issue is that casinos impose table limits to prevent wealthy gamblers from the using the Martingale to the fullest. Or else, Mark Zuckerberg (fifty six dolars billion net worth) would always win with the Martingale since his bankroll would likely never run out.
You will eventually run right into a losing streak that’s long enough to hit the table limit. With this situation, you take a major loss because you are able to no longer double wagers to win everything back.
In the context of betting, the term steam is actually used to describe significant movements in the betting markets that happen in a very short space of time. There’s a principle 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 on its own can cause lines and odds to move significantly.
Chasing steam involves watching for these major movements, and then betting on whatever the money appears to be taking place. The objective would be to “copy” what the smart bettors are actually doing, since they’re the ones making the most money. In principle, this makes a great deal of sense.
Unfortunately, chasing steam is EXTREMELY challenging these days.
There had been a time when this strategy was quite helpful. The betting markets are more productive than they used to be though, and there is a great deal more money at stake. Meaning that big moves in the odds are much less common. It’s also difficult to understand what causes them when they do happen.
Even if you can identify steam moves, the collective market itself moves much more quickly now. If the chances at one bookmaker or betting site change dramatically, all the bookmakers and sites make similar changes almost immediately. This will make it really hard to get some money down at the same prices as the smart bettors. You’ve to have the ability to spot opportunities as soon as they happen, and react immediately. This is simply not practical for most bettors.
With all that being said, this is a method to consider. Particularly if you bet regularly, and are often paying attention to the odds and lines. It’s quite feasible 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 will still make some extra profits every then and now.
The Martingale in Skill Based Games We just covered how the Martingale is actually a very risky betting strategy. What is more is this technique doesn’t do anything to alter the house edge.
But what happens if you will be able to combine the Martingale’s effectiveness with skill?
This betting strategy can be profitable in skill based games as DFS and sports betting. Not only are able to you win back the losses of yours with the Martingale, but you are able to also swing the odds in your favor with enough skill.
Here’s a great example of how this works in DFS:
You lose a $10 one dolars (fee) head to head contest (- eleven).
You lose a twenty dolars two dolars head to head contest (- 33).
You lose a forty dolars $4 head to head contest (- seventy seven).
You win an $80 $8 head to head contest (- five).
You win a $10 $1 head to head contest (5).
The tough thing about DFS contests is actually that you have to pay an added ten % entry fee to the sites. But as the above example shows, the Martingale strategy can still make it easier to book a profit even if you lose the majority of contests.
Let us look at one more example involving sports betting:
You lose an $eleven bet (- eleven).
You lose a $22 bet (- 22).
You lose a $44 bet (- 77).
You lose an eighty eight dolars bet (- 165).
You win a $176 bet and earn a $160 profit (- 5).
You win an $11 bet and earn a $ten profit (+5), The drawback to sports betting is the fact that the house takes 10 % juice from the losing side. But the Martingale can still make it easier to be profitable when you string together two or more wins.
Pros of Using the Martingale in Skill-Based Games The great thing about using this system in skill based contests is that you are able to overcome short-term variance by consistently winning back losses.
The sports betting example above shows how you are able to earn back your losses and a small profit even after several losing wagers.
Another benefit is actually that you’re not just using the Martingale in a casino game with a house advantage. Rather, you are playing skill based games.
The outcome is you get the enviable combination of getting your losses back and getting 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 might 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 even 10 % juice on losses (sports betting).
The first issue is crucial because you could be struggling with an even worse proposition compared to house banked casino games in case you’re not better than opponents.
Add in the standard Martingale risks along with sports book/DFS fees, and non-skilled bettors are taking a look at a potential bankroll disaster.
Value betting will be the process of getting maximum value out of situations in which you have a long-term advantage. This term is most often 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.
An example is when a poker player believes they have the best hand and bets in a way that extracts maximum value from the opponent of theirs. Going further, their wagers have to be large 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
There are 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 haven’t covered these in as much detail as the others on this page since we have already covered them in another section of our site. Here’s a quick overview of each one though, along with links to even more information.blackjack betting strategies that work