Are you interested in sports betting? If so, do you understand the art and science of placing a winning bet?
Unfortunately, knowledge is not inherited. Nor is anyone born with the innate ability to wager successfully on a sports match without studying betting theory and practicing placing wagers in a demo environment before moving onto live betting.
Additionally, there is a difference between knowledge and talent. While some talent is inherited, it can also be developed in partnership with the knowledge gain exercise. Thus, the best way to increase your knowledge, skill, and talent to place successful wagers is to work hard at learning the ins and outs of a successful bet.
Finally, it is essential to be aware of the fact that, while beginner’s luck exists and you might benefit from this phenomenon at the beginning of your sports betting journey, beginner’s luck always runs out. Thus, it’s best not to rely on it at all.
A rudimentary guide to placing successful bets
Before we look at how to place successful wagers, it must be highlighted that it is vital to use sports betting review site like Silentbet.com in order to search for a bona fide sportsbook to sign up with. Otherwise, you run the risk of losing the total amount deposited as your bankroll and your personal information stolen and sold on the dark web.
Secondly, the next important decision to make is whether to place a wager on a particular sports match or not. And you cannot make this decision without the knowledge of what to look for as part of the decision-making process.
Thus, let’s consider the following tips on how to bet successfully on a sports match.
Only wager small amounts
Successful sports bettors do not wager most of their bankroll on a single bet. It is not possible to win every bet you place. Thus, it is vital to adopt the strategy of risking small amounts on each bet and using the overall number of small but successful bets to increase your bankroll.
Understanding the math behind betting odds
Investopedia.com states the following about the math behind betting odds:
“The math underlying odds and gambling can help determine whether a wager is worth pursuing.”
Another way to look at betting odds is to consider them as probabilities of winning or losing. They have implied probabilities, not direct probabilities. Thus, by way of explanation, let’s look at an example of a Moneyline or Win bet.
The Moneyline bet is the most straightforward wager available. Gamblers need to choose which individual or team they believe will win the sporting event. Of course, the match could end in a draw so there are actually 3 options: win, lose, or draw.
Bookmakers offer odds based on which individual or team is considered the underdog and which individual has the best chance of winning a match.
For example, if we consider a football match between two English teams, Liverpool and Manchester City. The bookmaker decides that Liverpool has a 75% chance of winning the game. Additionally, Manchester City has a 5% chance of winning, and there is a 20% chance that the match will end in a draw.
Thus, the odds are as follows:
Liverpool to win the match = 1.33
Manchester City to win = 20
And a draw = 5
Thus, if you bet $100 that Liverpool wins the match, you will receive 1.33 x $100, which is equal to $133. If you risk $100 that Manchester City will win, and they do, you will receive 20 x $100, which equals $2000. And, if you use $100 to place a wager on the fact that the match will be a draw, you will receive $500.s