The business of betting can be classified as a high-risk investment. You can lose a lot more than in investments in securities, currencies, or precious metals. But the returns can also be much larger. Experienced bettors manage to earn a steady income from betting, although the outcome can always be the most unexpected.
If you also decided to take a chance, this article is for you. bookmaker-ratings.com will tell you all about the betting business.
Rules that will help you not to lose everything
If you decide to enter the world of betting, first do everything to minimize the risks. Professionals recommend following these tips.
- Use the accumulated money like a bank. As we have already said, the risks are still high, so you cannot take for bets the amount that will be critical for your budget. Of course, you shouldn’t borrow from friends or take out bank loans for bets. Also, we do not recommend making plans for an estimated win, so as not to face disappointment in the future. Play only with money that you can easily part with.
- Learn to keep your emotions under control. Any investor knows how important it is to stay cool and be able to ignore momentary impulses when it comes to high-risk assets.
- Strive for self-education. If you want to make accurate predictions, learn more about sports, start understanding sports analytics, statistics and betting mathematics. To do this, you need a desire and a couple of hours of free time every day.
- Love what you do. Betting will be boring for those who are not interested in any sport. Also, without knowledge of any championship, you are unlikely to be able to make accurate predictions.
General recommendations for successful bets
Alt: recommendations for successful bets
Title: recommendations for successful bets
Source: flickr.com
If you want your betting business to be profitable, you need to understand how betting companies work.
For offices, the most important thing is not to go into the red. To do this, they include a margin in the odds.
As an example, let’s take the Manchester City vs Liverpool odds. The in-house analysts at the bookmaker’s office prepare a prediction that City have a 60% chance of success, a 25% chance of a draw and a 15% chance of a Liverpool win. But if the odds are distributed in this way, the company will not make a profit. Therefore the bookmaker adds a commission (margin) of 10 to 20% (more is added on the favorite). Then the distribution turns out to be as follows: 67,5%, 30%, 17,5%. If you convert that into odds you get 1.48, 3.33, 5.71. The odds for winning the favorite are always heavily involved and include huge margins.
That is why, when betting, just like in the stock market, you should not blindly follow the crowd. If possible, it is always better to breast the current. However, it should not just be done on the contrary, but in an informed and balanced manner. That is where the knowledge about the particular sport, betting theory, and analysis comes in handy. Professionals always try to create their style of betting, their tactics.
Working strategies
For beginners who have not yet developed their tactics, we talk about classic strategies that are quite effective.
Bets on underestimated events. This is what was said above. Non-professionals more often than not just place bets on the favorite, without even looking at the odds, because they are sure that the leader of the championship will always be stronger than the underdog. However, this is not always the case. Professionals prefer to find underestimated outcomes and bet against clear favorites. At the same time, the odds are very high, so one loss of the leader is enough for you to win back the losses on previous bets.
To successfully use this strategy, you need to conduct a good analysis before the match. Study the condition of teams, statistics, find trends (for example, the favorite loses during the last away meetings), information about injured players. All of this will help you find overrated events.
Chase betting. The essence of this tactic is to bet such an amount that, in case of a successful outcome, will be able to cover the loss. Let’s say the pot is $100 and we bet on the outcomes with odds of 2.00. For the first bet, an amount of no more than 2–5% of all money in the account is suitable, so the first bet will be $3. If it wins, we return to the initial amount and make the next $3 bet. If it loses, bet $6. In case of failure, you will have to bet $12. If this bet is successful, we will cover the losses and benefit: 12 x 2.00 = 24.
24 – 12 – 6 – 3 = 3. The net profit will be $3.
This strategy has several pitfalls. The amount of the bet grows exponentially, and therefore you need a large enough pot to be able to win back. Also, the bookmaker’s limits may simply not allow you to bet a sufficient amount, so you need to be especially careful when choosing a company.
