Sports Betting Strategy
In this guide, we’ll highlight the best sports betting strategies for beginner and advanced bettors. We’ll also include some expert tips to help you develop smart sports betting habits.
A good sports betting strategy can be the difference between success and failure. Sports are unpredictable by nature and no betting strategy is guaranteed to make money in the long run. But adopting good habits can help maximize your winnings and minimize your losses.
The Basics of Sports Betting Strategy
There are sports betting strategies for beginners, intermediate, and advanced sports bettors. Regardless of how much experience you have, remember that a sound strategy can improve your chances of winning on a consistent basis. These four basic principles will give you a good sports betting foundation:
Manage Your Bankroll
When betting on sports, always have a set budget in mind to bet with. This money, referred to as your ‘bankroll’, is disposable income you can comfortably afford to lose. It may be a small fraction of your monthly income, for example.
With a set bankroll in mind, you can then think about stake size. We recommend only making bets with 1-5% of your bankroll as this will help you withstand any spells of bad luck. You can divide your bankroll into betting units to help you do this.
A common mistake for a sports bettor on a losing streak is increasing bet size to try and win back their money. This is called chasing your losses and it’s an incorrect mindset. This often results in making irrational decisions and losing even more money.
The best way to avoid this is by sticking within your bankroll limits and applying the management strategy. This will help minimize your losses when you are on a cold streak.
Bankroll Example:
Let’s say your bankroll for the whole NFL season was $1,000 and you want to bet on 5 NFL games every week:
- Total bankroll: $1,000
- Bankroll per week: ($1,000/18) = $55.55
- Total game units: ($55.55/5) = $11.11
In this scenario, your average stake should be $11.11. Therefore, you could stake between $8 – $12 per game with a $1,000 NFL bankroll.
Bet Sober/Don’t Tilt
There is a reason why Las Vegas casinos offer free alcoholic drinks to gambling patrons. Betting while under the influence can impair your judgment and lead to irrational decision-making. Avoid being intoxicated if you want to become a winning sports bettor.
The second part of this tip refers to ’tilt.’ Tilt is a commonly used term in gambling to refer to players who let their emotions take over. Playing while sad, frustrated, scared, or with extremely positive emotions, are all classified as playing with tilt. These emotions often lead to bad decisions.
You want to be calm and rational when sports betting. To avoid playing with tilt, take regular breaks and check in with yourself. Take a walk and clear your mind before placing any more bets.
Do Your Homework
Yes, sports betting comes with homework! You will want to conduct thorough, high-quality research before placing your bets. Going with a hunch may work every once in a while, but it will not lead to consistent returns over time.
To profit from sports betting, look at stats, find trends, create sports betting systems, and analyze past games. Do everything possible to ensure you have value in your pick before placing a wager.
Reading opinions from experts can be a great way to catch up on the latest news including key injuries, travel schedules and trades. There are also other tools available to bettors that can help increase your chances of finding good bets.
Utilize Free Picks and Prediction Sites
Check out these resources next time you are researching which bets to make:
- Daily free picks from sports betting experts
- Free sports picks daily from state-of-the-art AI software
- Betting odds calculator
Don’t Overlook Line Shopping
Lastly, get the most out of every bet by shopping for the best possible odds. Check the lines at the best sports betting sites to find the highest value. This can be time-consuming, but it’s well worth the effort to find the best potential payout available.
Over the course of a sports betting season, you can pocket a lot of extra cash by shopping the lines. We only recommend sites with great odds, but the fluctuating, dynamic nature of these means that no one sportsbook always has the best value. For that reason, line shopping is a must.
What’s the Best Sports Betting Strategy?
There is no single secret to betting and winning on sports. There are simply too many variables, from different sports and bet types, to different betting styles and bankroll sizes. That said, a combination of multiple betting strategies is usually the most effective.
Some sports bettors swear by hedge, parlay and teaser betting, or even sweetheart teasers. However, you should be wary of anyone who claims to have a foolproof sports betting strategy. The perfect strategy doesn’t exist! However, combining sound bankroll management with thorough research and sport-specific strategy offers higher chances of success.
Advanced Betting Strategy Guides
For more advanced bettors, we have dedicated guides to help you take your game to the next level:
Free Expert Picks and Predictions
See Our Picks PortalThe Sports Geek uses an AI computer to compile stats and crunch the numbers to give you free betting picks. In addition, our team of experts provide analysis and predictions on the biggest games of the week. These resources provide you valuable information to help inform your betting strategy.
Tips For Effective Sports Betting Strategy
Whether you’re adopting a basic or advanced sports betting strategy, there are some key principles you should stick to:
-
Understanding each bet type will help you find the best value in every match. Moneylines are the most popular, but eagle-eyed players will be able to spot when the over/under, spread or prop bet is a better option. Keep an open mind when reading the lines and don’t be afraid to make different types of bets.
-
Betting lines are dynamic. The Patriots might be the -110 favorites at NFL betting sites today, but big money bets on their opponents could see the odds shift to +120 by tomorrow. Bookmakers move odds to ensure that they will make profit no matter the outcome. Understanding this line movement can help you cash in when you see great odds.
-
Fading the public means to bet against the strong favorites. Betting against popular belief can be risky. But line movement, sporting unpredictability and good odds can make it profitable, too. If you’re looking to fade the public, we’d recommend betting futures early in the season when bookmakers tend to have better odds. Either that or betting on the home underdog.
-
As previously mentioned, a great sports betting strategy requires a sport-specific approach coupled with thorough research. Become an expert in one sport, or even one team, first. Once you’ve developed a method of online sports betting and have (hopefully) made a little money, you can start to look at betting on other sports too.
-
Backing your team is one of the greatest joys, but betting with your heart is not a sound sports betting strategy. Let’s say you’re a loyal Houston Rockets fan. While you may see the potential and talent within the team, statistically speaking, the squad has been the worst performing team in the NBA throughout 2023. Therefore, placing an NBA bet on them might not be the best choice. Betting with your personal feelings involved could lead to irrational wagers.
-
If you research thoroughly, become an expert, and bet based on the facts, you will be a highly selective bettor. This is to your benefit. Those who bet on a large range of outcomes at the same time are rarely successful in the long term. To increase your chances of success, be picky.
Online Betting Strategy Mistakes to Avoid
It’s hard to make money sports betting in the long term, but it does happen. If you have any hopes of being successful, you’ll need to avoid these common betting pitfalls:
Your bankroll budget should be a strict cap of only money that you can comfortably afford to lose. From there, you can divide your bankroll up and bet small fractions on each wager. Betting over and above a small amount is high-risk bankroll management.
Before you confirm your bet, double and triple check your betting slip. Make sure you’re betting on the right event, outcome, and with odds you’re happy with. Check your stake as well, as it’s easy to add an extra 0 when you’re working quickly.
Parlay bets come with higher odds and a larger house edge, so most professional bettors tend to avoid them. Nevertheless, if you’re keen to cash in on the extra value, it’s particularly important to shop around for top parlay odds. Each bookmaker uses a slightly different odds calculator, so you could miss out on significant value by not finding the best price.
Research using independent, respected outlets. Avoid searching for statistics and opinions that will reinforce your beliefs. Instead try to approach each bet objectively. Inaccurate statistics and misinformation (found on fan forums) can contradict official league statistics.
No sports betting system is fool-proof. For that reason, never follow one blindly. Keep track of your profit and loss, and check in regularly to see how the system is working out for you. Don’t be afraid to change up your habits if you need to.
Very few people make a significant amount of money through sports betting in the long run. We encourage all bettors to see it as a form of entertainment, rather than a moneymaker. Keep realistic expectations with regards to your betting strategy, and remember that Rome wasn’t built in a day.
