Are you done with losing money and keen on winning like a professional as an amateur sports bettor? Do you have to practice some magic trick? Maybe not, but these proven tips may help you on your next best:
Checking the Odds
Ask a professional sports punter who they’re betting on and you may be surprised that it’s not the one they think will win. This is important because winning punters generally bet on results that they think are highly probable, rather than what the odds are saying. These pros accumulate wins over time by watching out for outcomes that bookmakers undervalue. This could mean betting on the underdog or on the favorite, but still only when the odds are right.
Mind Before Heart
Many people bet for emotional reasons instead of an objective assessment of the probable result. They may bet for their country, their hometown, their idol, etc. Note that bookmakers will respond to this and tweak their odds as needed. This means the odds-on favorite to win may be picked more because of popularity, instead of what the bookmaker actually thinks of their chances of winning. So you’re so impassioned by your favorite team, forget them and be cautious when you bet on whatever outcome.
Knowledge Is Power
As you may know, Warren Buffet, one of the most successful stock market investors ever, advises against investing in something you don’t understand. This is true even for sports bettors. You want results that are more likely that what the odds tell you, so you have to be knowledgeable enough in your chosen games before that happens.
The Big Picture
Sometimes, people get too serious about sports betting that they start obsessing about researching stats and analyzing them before deciding which teams or plays to bet on. Based on a Journal of the Association for Psychological Science (APS) study, doing that could actually reduce your chances of winning. Not to say that you should ignore the data, but experts advise looking at the overall picture instead of being overwhelmed with small and usually irrelevant factors.
Finally, no matter how great you become as a sport bettor, accept the reality that you will lose many games. Nobody likes losing money, but allowing yourself to be consumed by the frustration of losing can lead to a psychological phenomenon called the sunk cost fallacy. It’s when you feel so bad about losing money that you start to behave irrationally, making you lose even more. In short, as any pro punter would tell you, embrace both the good and bad days.
3 Gambling Tips from Someone With Experience
Gambling Tips for The Average Joe