We can all agree that the age of sports betting is taking over the entertainment industry with a massive force. Everywhere you go, there is just a form of sports betting, whether it is on a casual or professional level. In fact, an October 2022 study by TGM Research in 44 countries globally revealed that approximately 35.4% of people had placed a sport bet within the last 12 months.
However, despite almost everyone knowing how to place a sport bet, not all are pros. In fact, many punters are not even effective in their betting. But someone would argue, how can you be a pro while you cannot predict the future? Well, as much as you are never guaranteed an outcome, at least there are some things that you can do to reduce your risks and increase potential gains. This is what the likes of Parlay Patz, Billy Walters, Tony Bloom, and others do. Now, this article will be highlighting a couple of things that can make you step over from being an average ‘Joe’ to being a better quality bettor.
Research is key
Now, the first thing to do before you can place any sport bet is doing some proper research. You must know that there is absolutely no way that you can become a pro bettor if all you do is place bets based on your gut feelings. It’s not just about luck. There is a lot of responsibility on you to come up with the reasons why you believe the outcome will be as you predict it to be.
For example, when there is an EPL game that is oncoming, there are a number of things you should look at. Start with the historical data. How have these teams been performing on previous collisions? Which team has the most wins at home or away? After that, look at the current players, whether there are injuries or red cards, the performance of players during home and away games, and anything that might affect the performance of a team. After doing all that, you are at a better place to place an informed sport bet. You can’t just go in blindly.
Also, research does not end with the teams that are playing. You also have to find the best odds. A punter who does not do line shopping is on the verge of failing. Line shopping allows you to find the best possible odds that will maximize your potential wins and reduce your potential losses. You can also learn how to do value betting so that you maximize the chances that sportsbooks might present.
Know your limits
The last thing you should do as a bettor is compare your ability with that of others. There are people who have a huge capacity and those who can’t afford to lose a lot. Professionals know what they can afford to bet on a game in such a way that the potential loss does not tip their accounts.
A good example is in 2022 when Texas businessman Jim Mclngvale, aka. Mattress Mack lost $9.5 million when the Los Angeles Rams beat the Bengals in the Super Bowl. Well, when asked, he said that he was okay and that that would not deter him from betting. You see, this is someone who actually understands himself! Now, if you would want to compare yourself with a business mogul, with a net worth of $300 million, then you’d be putting yourself in a hot mess. In as much as he might have heftier potential gains, his risks are even higher.
Well, we all know that losing is a part of the game and the most successful bettors know that losing is not a reason to quit. The only thing to understand is that betting above your limits will actually mess you up. In fact, it will destroy you since you’ll end up eating money that was intended for other purposes. If you can only afford losing $50, then don’t go ahead and place a sport bet of $200.
Understand your emotions
Apart from doing research and knowing your limits, emotions also play a very big role in distinguishing pros and average “Joes.” If you understand your emotions, then you will not be blinded by wins or destroyed by losses.
You see, a big trap that many bettors find themselves in is winning and losing streaks. Today, you might be making bets and you are on a winning streak. Since you are excited, you keep continuing to make even bigger bets. The problem with this is that, the higher they go, the harder they fall! On the other hand, losing streaks might mess with your mind. You keep on trying to recoup your losses, but to no avail. With good emotional control, you learn to work using targets and not how you feel.
One good example of a self-aware professional gambler is Cathy Hulbert. She was very successful and made such an illustrious career in betting. Her mantra was always, if agitate, then lower bets. Knowing how your emotions affect you is a skill you must learn if you want to make it through this world.
Final word
We can all attest to the fact that online betting has become one of the most popular sources of entertainment, and it’s going to be so even in the coming years. However, if you want to make sure that you making a sport bet is not just as normal as other casual bettors, you had better put in the work.
