Betting on sports games is a hobby for many, and most people just consider it to be a fun and friendly pastime. But there are ways to consistently make money on sports betting, and the tricks are understanding betting strategy and the different types of bets you can make, understanding the odds, making smart bets, and walking away from bad bets. It’s also important to remember that making money on sports betting is something that requires time and dedication: it’s not about making a single huge bet and winning lots of money in one shot. Instead, it’s all about making a series of small, smart bets that add up over the season to an overall gain.

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 consistently. 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.

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.

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:

Learn The Types Of Sports Bets You Can Make

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.

Understand Line Movement

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 a profit no matter the outcome. Understanding this line movement can help you cash in when you see great odds.

Fade The Public

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.

Become An Expert In One Sport First

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.

Don’t Bet With Your Heart

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.

Don’t Make Every Bet

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.

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.

Conclusion

Winning in sports betting requires a combination of knowledge, strategy, and discipline. Start by researching the teams, players, and statistics relevant to your bets. Focus on sports you understand well and explore diverse betting markets for better opportunities. Manage your bankroll carefully, setting strict limits to avoid chasing losses. Use strategies like value betting to identify wagers where the odds are in your favor. Most importantly, stay objective and avoid emotional decisions.