We’re often contacted by aspiring sports bettors who are struggling to make money and want the advice of ours. Most of them have fallen into the trap of over complicating things, so we know EXACTLY what advice we have to give them.
Keep. It. Simple.
Honestly, this is one of the most important pieces of advice we have to offer. A lot of people believe that the only way to beat the bookmakers is to make use of strategies and systems which are super complex, but they’re WRONG.
Yes, you’ll most likely need to use advanced strategies in case you want to make SERIOUS money. That can and must be your long term goal, but when just starting out any type of profit is actually 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 bring it to the next level.
For now, we will focus in on the wide range of simple betting strategies that will improve your overall chances of making money. We’ve detailed probably the best ones below. None of these’re perfect, and they’re all limited to some extent. Still, they are best to use while you are still learning and developing your betting skills.
As you gain more knowledge and experience, you’ll most likely have the ability to adapt these strategies and make them even 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 to enter the casino with around $200 dollars and make bets between $10 and twenty five dolars.
This seems harmless in theory, if you are gambling with expendable income. But the trouble is actually you are very likely to run out of money this way.
One good idea that comes from sports betting is only risking two % or even 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:
It is easy.
This system will theoretically provide a profit every time.
The Martingale calls on you to double bets after every loss. The aim will be to always win back your losses and earn a small profit in the process.
You ought to also make even money bets with the Martingale in order to simplify things and minimize the risk of yours.
Pros of the Martingale The Martingale’s best aspects include its ease of use and how it is able to theoretically be successful.
So long as you’ve the funds to continue doubling bets after losses, you will inevitably win back the money of yours. You’ll also book small profits along the way every time you win.
The Martingale is among the best systems for those looking for consistent short term profits.
Cons of the Martingale The Martingale’s downside is it is an incredibly risky strategy. You will be betting far more than your original wager after 5 to six losing wagers.
This can make you hesitant to pull the trigger on the next double bet. Even worse is actually that 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 ($56 billion net worth) would always win with the Martingale because his bankroll would probably never run out.
You’ll inevitably run into a losing streak that’s long enough to hit the table limit. Through this situation, you take a big loss as you can 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 short space of time. There is a principle that such moves are generally due to professional bettors and betting syndicates putting their money down. Because they typically wager for very high stakes, the weight of their money alone can result in odds and lines to move significantly.
Chasing steam involves watching for these major movements, and then betting on whatever the money appears to be taking place. The aim would be to “copy” what the smart bettors are doing, since they’re the ones making the most money. Theoretically, this makes a great deal of sense.
Unfortunately, chasing steam is EXTREMELY challenging these days.
There was a time when this strategy was extremely effective. The betting markets are more efficient than they used to be though, and there is a lot more money at stake. What this means is 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 chances at one bookmaker or even betting site change dramatically, all the bookmakers and sites make similar changes almost immediately. This will make it difficult to get any money down at the same prices as the smart bettors. You have to have the ability to spot opportunities once they happen, and react immediately. This’s just not practical for most bettors.
With all that being said, this’s a strategy to consider. Particularly 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 actually a very risky betting strategy. What is more is that this technique doesn’t do anything to transform the house edge.
But imagine if you could combine the Martingale’s effectiveness with skill?
This betting strategy can be profitable in skill based games like DFS and sports betting. Not only can 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 an example of how this works in DFS:
You lose a $10 one dolars (fee) head to head contest (- eleven).
You lose a $20 $2 head to head contest (- thirty three).
You lose a forty dolars $4 head to head contest (- seventy seven).
You win an eighty dolars $8 head to head contest (- five).
You win a $10 one dolars head to head contest (5).
The tough thing about DFS contests is you’ve to spend an extra ten % 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’s look at one more example involving sports betting:
You lose an $11 bet (- 11).
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 (- five).
You win an $11 bet and earn a $ten profit (+5), The drawback to sports betting is the fact that the house takes ten % juice from the losing side. But the Martingale can really help you be profitable when you string together 2 or even 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 and a small profit even after several losing wagers.
Another advantage is actually you are not simply using the Martingale in a casino game with a house edge. Rather, you are playing skill based games.
The end result is actually that you get the enviable combination of getting your losses back and having an opportunity to win long term profits.
Cons of Using the Martingale in Skill-Based Games
You are taking a risk on 3 fronts with this betting strategy:
You might be at a skill disadvantage to opponents/other bettors.
You are still dealing with the Martingale risks.
You must pay ten % fees (DFS) or ten % juice on losses (sports betting).
The first point is crucial because you might be dealing with an even worse proposition compared to house-banked casino games if you are not much 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’ve a long-term advantage. This term is frequently used in poker, but it is able to 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 the best hand and bets in a way that extracts maximum value from the opponent of theirs. Going further, their wagers need 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 rich in 10s and aces.
More Simple Betting Strategies
You’ll 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 because 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 info.football betting strategies that work