Sports Betting Strategy
Online sports betting can get rather confusing, particularly if you’re new to this form of gambling. Unfortunately, this means that many inexperienced punters make easily avoidable mistakes, which end up costing them a lot of money. Below you will find some basic tips, which are guaranteed to help you in avoiding these beginner mistakes while simultaneously allowing you to maximize your winnings as you work on improving your handicapping skills.
Hedging Your Bets
Hedging is one of the most common sports betting tactics, but it’s also frequently misunderstood. Many novice bettors hedge all of their wagers. While this guarantees that they’ll get some money back regardless of the winner of the contest, there’s simply no denying the fact that in many cases all they achieve is minimizing their profits.
If you’re an inexperienced bettor, you should consider hedging your bets only if you’re no longer comfortable with the bet that you’ve already placed. For example, if you learn that a key player of the team that you’ve wagered on won’t be able to participate in the match in question, you might consider hedging your bet in order to minimize the risk in this bad situation.
Betting the Underdog
Many successful bettors earn a lot of money by knowing precisely when to bet on the underdog. In most cases, knowing when to take the risk is a result of a serious handicapping effort. For example, if you’re planning to bet on a boxing match and you know that the underdog has a strong knockout punch, you should consider putting some money on him instead of the favorite. However, you should always remember to take the odds into account – even if you believe that an upset if fairly likely, you probably shouldn’t put your cash at risk unless the potential payout is well worth it.
Parlay bets are often considered to be a great choice for bettors who enjoy high-risk, high-reward action. This is precisely why you should be very careful when it comes to placing wagers of this type. Each time you place a multi-selection parlay, you risk that your entire investment will be lost due to a single upset. Consequently, it’s always a good idea to do some serious research before opting to go for a parlay. All things considered, novice bettors should probably avoid parlays altogether or focus on betting the favorites and keeping the number of selections extremely limited.
Compare the Odds
If you own an account on multiple sports betting sites, comparing the odds offered on the games that you’re interested in is an excellent way of maximizing your long-term profits. Even if the differences seem to be rather miniscule, you should always remember that every dollar counts. However, you shouldn’t be overzealous when it comes to placing your bets on multiple sites. Many online sportsbooks offer amazing bonuses and promotions, including reduced juice offers, which allows you to get some additional value by sticking with the best site.
Take Advantage of Bonuses
While online sports betting bonuses aren’t as generous as the ones offered by online casinos or poker sites, there’s simply no denying the fact that even the smallest free-play promotion gives you access to some free cash. Furthermore, sports betting bonuses are very easy to clear, which means that in most cases you won’t have to worry about impossible playthrough requirements. Finally, it is worth pointing out that many sportsbooks offer amazing reduced juice promotions, which allow you to get better odds on a wide range of sporting events. You should always prioritize offers of this kind, as they give you plenty of additional bang for your buck for as long as you stick with the site.