We are 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 need to offer them.
Keep. It. Simple.
Honestly, this is among the most important pieces of advice we have to offer. Lots of individuals feel that the only way to beat the bookmakers is to make use of strategies and systems which are actually super complex, but they’re WRONG.
Yes, you will most likely need to use advanced strategies in case you want to make SERIOUS money. That can and should be your long-term goal, but when just starting out any variety of profit is 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 wide choice of simple betting strategies that can improve the overall chances of yours of making money. We have detailed the best ones below. None of these are perfect, and they are all limited to some extent. Still, they are ideal to use while you are still learning and developing your betting skills.
As you gain experience and knowledge more, you’ll most likely have the ability to adapt these strategies and make them more effective. For now, though, just focus on keeping it simple.
Betting two % or Less of Your Bankroll
A common 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 are gambling with expendable income. But the trouble is that you are very likely to run out of money this way.
One great 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 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 goal is to always win back the losses of yours and obtain a small profit in the process.
You must also make even-money bets with the Martingale to be able 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 achieve success.
As long as you have the funds to continue doubling bets after losses, you’ll inevitably win back your money. You’ll also book small profits along the way whenever 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 it’s a really risky strategy. You’ll be betting a lot 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 your bankroll will vanish if the losing streak continues.
Another issue is that casinos impose table limits to prevent wealthy gamblers from the using the Martingale to the fullest. Otherwise, Mark Zuckerberg ($56 billion net worth) would always win with the Martingale since his bankroll would probably never run out.
You will eventually run right into a losing streak that is long enough to hit the table limit. Through this situation, you take an enormous loss since you are able to 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 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 lines and odds to move significantly.
Chasing steam involves watching for these big movements, and then betting on whatever the money seems to be taking place. The objective 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 had been a time when this strategy was quite effective. The betting markets are more productive 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 far less common. It’s also challenging to interpret what causes them when they do happen.
Even in case 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 instantly. This makes it hard to get some money down at the same prices as the smart bettors. You’ve to find a way to spot opportunities once they happen, and react immediately. This is just not practical for most bettors.
With all that being said, this’s a method to consider. Especially in case you bet regularly, and are often paying attention to the odds and lines. It is quite possible that you’ll spot steam moves on occasion, and be prepared 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’s more is this technique does not do anything to change the house edge.
But imagine if you will be able to incorporate the Martingale’s effectiveness with skill?
This betting strategy can be profitable in skill based games like DFS and sports betting. Not simply 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 good example of how this works in DFS:
You lose a ten dolars $1 (fee) head to head contest (- eleven).
You lose a $20 $2 head to head contest (- thirty three).
You lose a forty dolars four dolars head to head contest (- 77).
You win an eighty dolars eight dolars head to head contest (- 5).
You win a ten dolars one dolars head to head contest (five).
The tough thing about DFS contests is actually you have to fork out 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 in case you lose the majority of contests.
Let’s look at one more example involving sports betting:
You lose an $eleven bet (- 11).
You lose a $22 bet (- 22).
You lose a $44 bet (- seventy seven).
You lose an $88 bet (- 165).
You win a $176 bet and earn a $160 profit (- 5).
You win an eleven dolars bet and earn a $10 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 help you 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 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 actually you are not simply using the Martingale in a casino game with a house edge. Instead, you’re playing skill based games.
The outcome 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’re taking a risk on 3 fronts with this betting strategy:
You could 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 ten % juice on losses (sports betting).
The primary point is essential because you may be dealing with an even worse proposition than house-banked casino games in case 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 most often 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.
An 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 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 actually rich in 10s and aces.
More Simple Betting Strategies
You can 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 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 more info.sports betting strategies that work