Need tips for Sports Betting? Don’t stress, we’ve got you covered. If you’re a fan of football and a fan of sports betting then you’re probably looking forward to big tournaments such as the 2022 World Cup and Champions League final. If you want to increase your chances of winning you may want to read these tips.
Tips for Football Betting
If you’re into football betting these tips will help you have better sports betting sessions.
Set a Budget for Sports Betting
It is vital to set a budget at the very beginning. Some golden rules include never bet more than you can afford and never chase losses. How you budget is up to you. You may have a daily, weekly, monthly, even yearly. Some just have a stash set aside for football and other sports betting. It doesn’t matter how you budget but follow the golden rules. Following famous bookmakers like Ladbrokes Opening Times Near Me helps understand the rules of the game.
Determine Your Staking Plan
A staking plan is simply how much you are prepared to wager on a single bet. It is a good idea to stake around 1-2% of your budget on one bet and never go above 5%. A staking plan like this ensures that you won’t be blowing your budget after a couple of bets.
It also helps to:
- Not chase losses
- Not lose money made from a good session
- You’ll be more likely to think rationally
Be Selective with Your Bets
You can easily be tempted to bet on a wide range of sports. Any competition in the world can be bet on and you can easily be tempted to bet on lots of sports. Generally, this is not a good idea for several reasons:
- It is harder to keep track of your bets if you have a game happening in your own country and another game in a different country a few hours later
- You may be tempted to bet on sports that are not popular in your own country but do you really know that much about them to be confident enough to bet on it?
- If you use in-play betting and why wouldn’t you, try and limit the number of wagers you make
A better strategy is to:
- Think through your bets
- Bet on sports you know a little about
- Limit the number of in-play bets. Try and identify good opportunities to win
- Limit the number of bets you make and only on matches where you feel confident
It is a good idea to play online as you can sign up for multiple sites and take advantage of bonuses. To that end ensure that sites you sign up to are reputable, have good customer service, and offer good bonuses to make winnings sweeter.
Understand the Value Concept in Sports Betting
Regardless of whether you are a seasoned player and play to make a profit, or play for fun, it is important to understand the value concept in sports betting.
Value is the relationship between the odds of a selection and the probability of the associated outcome happening. This boils down to:
If a selection has odds that are higher than they technically ‘should’ be based on probability, the selection is said to have a positive expected value.
Identifying selections with positive value is the art of sports betting and you should never place wagers on selections that have no positive value.
It is a good idea to at least read a few betting strategies. Do some research on the following:
- Arbitrage betting
- Backing heavy favourites
- Betting off market prices
- Betting based on winning streaks
It is worth reading a few strategies. It will give you ideas and you may implement a few of these words of wisdom into your sessions.
Compare Odds and Lines
As stated, it is a good idea to sign up to multiple reputable sites. This way you can place bets with the best odds. It is always good to remember odds are set slightly differently from site to site. Get in the habit of checking each site you’re signed up to for the best odds.
You may only win 10% more every time you win but that 10% on each win adds up.
It is a good idea to keep records of every bet you make. There are two reasons to do this
- It is a good way to track how much you’ve spent and keep within a defined budget.
- By keeping records you can study them and look for trends and try to identify ways to improve. Vital if your long term goal is to make profit.
When you keep records, include:
- Odds of selection
- Size of stake
- Results of wager
- Payout received where a win occurred
If you get into the habit of keeping records you can analyse performance and identify better ways to win.
Learn Sports Betting Terms
It is a good idea to learn all the betting terms. This way you can keep track of what is happening and make better informed bets.
And finally the best tip of all… Have fun!
Watch this space for updates in the Hacks category on Running Wolf’s Rant.
To stay in the loop, subscribe to our Newsletter.
Alternatively, feel free to check out our Featured Posts or scroll down to view posts related to this one.
If you live in South Africa and you're looking for a live music gig or music festival to attend, feel free to check The SA Gig Guide on our sister site (SA Music Zone).
You're also welcome to feed your brain some knowledge on our other sister site, (Interesting Facts).