We’re 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 provide them.
Keep. It. Simple.
Honestly, this’s one of the most useful pieces of advice we have to offer. Lots of individuals feel which the only way to beat the bookmakers is actually to make use of strategies and systems which are actually super complex, but they are WRONG.
Yes, you will most likely need to use advanced strategies in case you wish to make SERIOUS money. That can and must be the long-term goal of yours, but when just starting out any variety 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 have to be made to take it to the next level.
For now, we’ll focus in on the great selection of simple betting strategies that will enhance your overall chances of making money. We have detailed probably the best ones below. Not any 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 two % or Less of Your Bankroll
A typical scenario for casual gamblers is actually to enter the casino with around $200 dollars and make bets between $10 and twenty five dolars.
This seems harmless in theory, in case you’re gambling with expendable income. But the problem is actually you’re very likely to run out of money this way.
One great idea that will come 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 are able to really apply this system to any casino game.
The Martingale betting strategy has two 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 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 the risk of yours.
Pros of the Martingale The Martingale’s best aspects include its ease of use and the way it can theoretically achieve success.
Provided that you have the capital to continue doubling bets after losses, you will ultimately win back the money of yours. You will also book small profits along the way every time you win.
The Martingale is among the best systems for the people looking for consistent short term profits.
Cons of the Martingale The Martingale’s downside is it’s an extremely risky strategy. You’ll be betting much more than your original wager after five to 6 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.
Another issue is the fact that casinos impose table limits to prevent wealthy gamblers from the using the Martingale to the fullest. Otherwise, Mark Zuckerberg (fifty six dolars billion net worth) would always win with the Martingale as his bankroll would likely never run out.
You’ll eventually run right into a losing streak that is long enough to hit the table limit. Through 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 describe significant movements in the betting markets that happen in a very short space of time. There is a theory that such methods 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 by itself can cause odds and lines to move dramatically.
Chasing steam involves watching for these big movements, and then betting on whatever the money appears to be materializing. The aim is to “copy” what the smart bettors are actually doing, since they are the ones making the most money. In theory, this makes a great deal of sense.
Unfortunately, chasing steam is EXTREMELY challenging these days.
There seemed to be a time when this strategy was really helpful. The betting markets are definitely more efficient than they used to be though, and there’s a lot more money at stake. This means that big moves in the odds are far less common. It is also challenging to interpret what causes them when they do happen.
Even if you are able to 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 immediately. This makes it very difficult to get any money down at the same prices as the smart bettors. You’ve to be able 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. Especially in case you bet regularly, and are often paying attention to the odds and lines. It is really possible that you will spot steam moves on occasion, and be able to take full advantage of them. This won’t 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 technique does not do anything to transform the house edge.
But what 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 your losses with the Martingale, but you can also swing the odds in the favor of yours with enough skill.
Here is a great example of how this works in DFS:
You lose a $10 one dolars (fee) head to head contest (- eleven).
You lose a $20 two dolars head to head contest (- thirty three).
You lose a forty dolars four dolars head to head contest (- seventy seven).
You win an $80 eight dolars head to head contest (- 5).
You win a $10 $1 head to head contest (five).
The tough thing about DFS contests is actually that you have to spend an additional ten % entry fee to the sites. But as the above example shows, the Martingale strategy can still help you 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 (- 11).
You lose a $22 bet (- 22).
You lose a forty four dolars bet (- 77).
You lose an eighty eight dolars bet (- 165).
You win a $176 bet and earn a $160 profit (- five).
You win an eleven dolars 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 help you be profitable when you string together two or even 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 plus a small profit even after several losing wagers.
Another benefit is that you’re not only using the Martingale in a casino game with a house advantage. Instead, 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 may be at a skill disadvantage to opponents/other bettors.
You are still dealing with the Martingale risks.
You need to pay ten % fees (DFS) or even 10 % juice on losses (sports betting).
The very first issue is key as you may 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 in which you have 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.
An example is when a poker player believes they have 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 the favor of theirs. They then make larger bets to maximize situations where the deck is rich in 10s and aces.
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 our site. Here‘s a quick overview of each one though, along with links to more info.betting strategy that works