We are often contacted by aspiring sports bettors that are struggling to make money and want our advice. 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 have to offer. So many individuals think that the only way to beat the bookmakers is actually to make use of strategies and systems that are super complex, but they’re WRONG.
Yes, you’ll probably need to use advanced strategies if you wish to make SERIOUS money. That can and should be the long term goal of yours, but when just starting out any style of profit is actually well worth celebrating. Small profits can be achieved through simple strategies. Once you consistently start making small profits, you are able to see what adjustments have to be made to bring it to the next level.
For now, we’ll focus in on the wide choice of simple betting strategies that can enhance the overall chances of yours of making money. We’ve detailed probably the best ones below. None of these are perfect, and they’re all limited to some extent. Nevertheless, they’re ideal to use while you are still learning and developing your betting skills.
As you gain experience and knowledge more, you will probably have the ability to adapt these techniques and make them even more effective. For now, though, just focus on keeping it simple.
Betting two % or even 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 $25.
This seems harmless in theory, in case 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 2 % or even 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 are able to 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 aim is 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.
So long as you have the funds 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 it is a really risky strategy. You’ll be betting far more than your original wager after five to 6 losing wagers.
This could make you hesitant to pull the trigger on the next double bet. Even worse is actually your bankroll will vanish if the losing streak continues.
Another problem is the fact that casinos impose table limits to prevent wealthy gamblers from the using the Martingale to probably the fullest. Or else, Mark Zuckerberg ($56 billion net worth) would always win with the Martingale because 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. In this case, you take a big loss because you can no longer double wagers to win everything back.
In the context of betting, the term steam is used to refer to significant movements in the betting markets that happen in a very short space of time. There is a theory that such techniques are usually 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 big movements, and then betting on whatever the money appears to be materializing. The goal is usually 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 had been a time when this strategy was extremely helpful. The betting markets are more productive than they used to be though, and there’s a great deal more money at stake. This means that big moves in the odds are a lot less common. It’s also tough to translate 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 odds at one bookmaker or even betting site change dramatically, all the bookmakers and sites make similar changes almost instantly. This makes it really hard to get any money down at the same prices as the smart bettors. You’ve to find a way to spot opportunities the moment 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 quite possible that you’ll spot steam moves on occasion, and be in a position to take full advantage of them. This won’t happen on a daily basis, but you will 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’s more is this system does not do anything to alter the house edge.
But what happens if you can combine the Martingale’s effectiveness with skill?
This betting strategy can be profitable in skill based games like DFS and sports betting. Not merely are able to you win back your losses with the Martingale, but you are able to also swing the odds in the favor of yours with enough skill.
Here’s a great 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 (- thirty three).
You lose a $40 $4 head to head contest (- seventy seven).
You win an eighty dolars eight dolars head to head contest (- five).
You win a $10 $1 head to head contest (five).
The tough thing about DFS contests is you’ve to pay an additional 10 % 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’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 $88 bet (- 165).
You win a $176 bet and earn a $160 profit (- five).
You win an $11 bet and earn a $10 profit (+5), The drawback to sports betting would be that the house takes ten % juice from the losing side. But the Martingale can still make it easier to be profitable when you string together 2 or 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 are able to overcome short-term variance by consistently winning back losses.
The sports betting example above shows exactly how you can earn back your losses plus a small profit even after several losing wagers.
Another benefit is that you are not simply using the Martingale in a casino game with a house edge. Instead, you are playing skill based games.
The end result 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 have to pay ten % fees (DFS) or perhaps ten % juice on losses (sports betting).
The primary issue is crucial because you could be dealing with an even worse proposition than house banked casino games in case you’re not much 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 will 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 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 have probably the best hand and bets in a way that extracts maximum value from their opponent. 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 the favor of theirs. They then make larger bets to maximize situations where the deck is actually rich in 10s and aces.
More Simple Betting Strategies
You can find 3 more simple betting strategies that we would 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 as we have already covered them in another section of the site of ours. Here’s a quick overview of each one though, along with links to additional info.football betting strategies that work pdf