Reema CummingsThe path from sports betting beginner to betting professional is not possible for everyone. You have to meet certain requirements and be willing to learn. In our article, we have put together for you the rules and basics that every sports fan must have in order to make money from sports betting.
Financial security
If you don’t have a financial background, you should refrain from sports betting. You must be in a secure financial situation in order to be able to cope with one or the other interim loss. If you have to turn over every euro twice to secure your livelihood, sports betting is certainly not ideal for earning the desired side income. Never forget that every bet win is a separate investment. Losses should always be taken into account.
General interest in sports
Without sporting interest and knowledge, it is not advisable to get started with a bookmaker. You should definitely have a soft spot for certain sports in order to apply your expert knowledge and make profits in precisely this category. The bets are then an additional small tension factor for you, parallel to the actual sporting event. Each tip must be considered from game day to game day in order to be able to make the best prediction.
Understand how bookmakers work and odds
Betting providers always have an advantage over you, which is expressed in the bookmaker margin. Bets offered on a game are always balanced in such a way that your own risk is reduced to a minimum. The providers specify the quotas in such a way that a few percent are withheld. In the main sports of football, tennis, basketball, ice hockey, American football, handball and baseball, the quota key, i.e. the repayment value, is around 94-96%. In niche sports, the betting odds always fall, as does live betting, simply because the bookmakers in other sports categories take a greater risk and the stakes of players usually decrease. You should also know how betting odds are calculated and what probability of a result can be derived from it.
Understand betting terms
Draw No Bet, Asian Handicap, Outrights, Double Chance, Accumulator, Goals Over/Under – each betting market has its own name. There are also a number of terms from the world of sports betting that are bohemian villages, especially for beginners. Only those who understand the betting terms can correctly assess and evaluate the options.
Tip: If you don’t understand a word or term, look it up in our betting dictionary. A table of contents helps you to find your way around the sports betting glossary.
Willingness to learn and time commitment
A betting tip is placed with a reputable sports betting provider within a few seconds. There are practically no hurdles for you. If you want to be a sports betting expert, you will not succeed with quick bets. You need to allocate a time commitment to your analysis and research of a sports bet. You should also have the necessary willingness to learn to learn and try out new betting systems. Try to learn all things sports betting relevant to get more out of your bets. At the same time, learn from the betting systems and strategies of the pros.
Soft spot for mathematics, statistics and probabilities
The sporting side of betting is only one side of the coin. You also need to be mathematically fit, for example to calculate odds from bookmakers. Sports betting and math go together. Reading statistics and deriving relevant key facts is the second point. In the sports betting history, you can read the probability of certain results occurring, which are then mathematically related to the betting odds. At first glance, this sounds more difficult than it is. You don’t have to be a statistician, but the rule applies that whoever knows more about a team or a player minimizes luck and at the same time increases the chance of profit. At this point it can be said that no sports betting professional has fallen from the sky. However, there is no guarantee of profit or a master plan. Practice creates masters.
Get to know and try out proven betting strategies and betting systems
In the early stages of sports betting, it is useful to fall back on the tried and tested. Try different betting strategies and betting systems. Do these match your desired sports interests and betting plans? You will quickly find a sports betting strategy that you can then use to make the “right” start.
Make the right bet selection
The betting providers are at the start with a huge betting program. You never have to check all betting offers. Concentrate only on sports you are familiar with and only on leagues in which you have the necessary knowledge. As a local fan of German football, for example, you shouldn’t bet on South American or Eastern European junior leagues.
Detailed betting analysis – interpret statistics correctly
Never do without a detailed betting analysis. Try to incorporate as much information as possible about the match and about the teams or athletes into your betting forecast. The more extensive the input, the more successful your bet will be.
Choosing the right betting market
If the betting analysis has shown a “certain” result probability, do not place the betting tip yet. Check possible alternatives. Is it worth increasing the betting odds via handicap? Can the tip be secured with a double chance or as a Draw No Bet bet? What betting alternatives to the game are there at the bookmaker?
Play the best possible odds
Once the final betting decision has been made, compare the betting odds of several bookmakers. Take advantage of the differences in the offers of the betting providers. compare as many providers as possible to really place your bet on the best terms. In the long term, even minor deviations bring you a huge plus on your betting account. In principle, you should not only have one account, but several accounts with different betting providers in order to be able to react correctly to the odds comparison.
avoid emotions
Always remain sober and factual when betting. Many bettors make the mistake of betting emotionally. Your analysis should never be influenced by emotions. Never play your wishes, for example on your favorite team in the Bundesliga. You should accept losses. Don’t get carried away by frustration bets in an emotional tantrum.
Choose the right amount of stake per bet
Not to be forgotten is the clever, defensive money management, which is built up on your bankroll, i.e. the available betting balance. Choose the correct stake size for each sports bet. Either play fixed flat amounts based on your credit balance or adjust the stake to the risk of your sports bet.
Define goals and set limits
When betting on sports, always set clear goals in advance. Step away from the dream of becoming a millionaire through sports betting and choose realistic goals. How much money do you want to make in sports betting per week or per month? Based on your goal, you determine the betting strategy and the associated betting scheme as well as the number of betting slips required. Constantly adjust your goals based on your success or failure.
Discipline and honest control of success
Be disciplined when betting. Many tipsters lose their nerve too quickly and have little discipline when betting. Stick to your strategy even if success doesn’t come immediately. Keep statistics on your bets. Conduct an honest success review. Depending on the result of the profit and loss account, you can then refine your betting system step by step. The more data you collect from yourself, the better you understand when your bets are profitable and when the quality of your tips is declining. Anyone who documents everything exactly creates the necessary advantages to be able to earn money with sports betting.
