When it comes to sports, betting strategies play a vital role in maximising your winnings. Betting significantly depends on luck, but choosing the right strategy can be a game changer. You need to give yourself the best possible opportunity to profit from betting. Let’s understand its importance along with different betting strategies.
The Importance of Using a Betting Strategy
A betting strategy helps in applying logic to all bets. By simply not choosing an option, you evaluate the game’s criteria and betting rules and use the best strategy to create value from your bets to earn profits. Although many sports can be hard to predict, a strategy improves your chances of winning the bet.
The lack of a proper strategy can make you lose money a lot quicker than you think. This is why you need a solid betting strategy to garner profit from the bets.
Best Betting Strategies
There are a wide variety of professional sports betting strategies that you can use for different games. Here are some of the most popular strategies for betting money for profits:
- Line Shopping
Line shopping is essentially an integral strategy where expert betters (“sharps”) use different sportsbooks to find advantageous games to bet on and at the best odds. Since the margins of profitability on sports betting are low, finding an edge provides you with a much-needed advantage.
By using this strategy, you can take advantage of the price discrepancies between the same event at different sportsbooks. This is how you can find the best odds that can provide you with a guaranteed or positive return on your betting ROI. Start using this strategy as early as possible to increase your profits and gain long-term success in sports betting.
Hedging is a risk management strategy that helps you to minimise losses and maintain a healthy bankroll. Although this sport betting strategy may seem challenging, the concept is pretty simple. This strategy involves placing a new bet on a different outcome than the one you had originally wagered on.
So, if you had originally placed a massive bet with long odds but later realised it would not work out, then you place additional bets on the opposing outcome to reduce your negative odds. These opposing bets act as your insurance policy or your hedge. Therefore, the goal of this strategy is to limit the potential losses and secure guaranteed profit regardless of the outcome.
- Arbitrage Betting
Arbitrage betting is a process of placing strategic bets that guarantee you profits. Also referred to as “risk-free betting” or “sure-betting,” this strategy relies on identifying arbitrage opportunities through line shopping. This strategy requires you to spot inefficiencies in the betting marketplace to garner profits.
Bookmakers usually assign odds and probabilities to specific events. Once you successfully recognise the discrepancies in sports odds, you can wager on every possible outcome of a game to ensure profits. The easiest way to spot arbitrage opportunities is when you observe the positive odds are higher than the negative ones and when the implied probability of two outcomes is less than 100%.
- Matched Betting
Matched betting is another risk-free money betting strategy where you can earn profits from free bet offers at online sportsbooks. You essentially use hedging against them at an online betting exchange. Since you have removed chance from the equation, you know the outcome with complete certainty.
The goal of this strategy is not to win a bet in the traditional sense but to guarantee your free bet offer ends up a winner. Use your free bet to unlock a wager at the sportsbook. Although you will need money for the betting exchange, the amount is minimal compared to your guaranteed win. Get guaranteed profit by betting both sides of any wager that is eligible for a free bet.
- Removing the Vig
The vig (short for vigorish) or “juice” refers to the fee a bookmaker or sportsbook charges a bettor for placing their wager. This allows the bookmaker or sportsbook to make profits on every betting line, regardless of the outcome. That’s why, by eliminating the vig you can earn a significant profit.
To remove the vig, you need to know how to read and calculate bets on sports. You need to gain a clear understanding of the oddsmaker’s expectations. By doing so, you can compare the price a sportsbook has inflated on a betting line. Compare the implied probability with the actual probability to gain a clear understanding of how you can remove the vig.
Middling is an effective betting technique that exploits a shifting point spread line or a moving totals line. A middle line occurs when you place two opposite bets on the same event. This is kind of a hedging strategy where you can gain an opportunity to win because of the moving line. Therefore, you get the chance to win both your first and second bets. Although this strategy is a low-risk venture, it does not provide you with guaranteed results.
- The Maria Staking Plan
The Maria Staking Plan is a bankroll management strategy that allocates a certain percentage of your existing bankroll to each bet. This percentage is determined by the odds connected to the wager. When your bankroll increases, so does your wager. However, the amount does not decrease even if your bankroll decreases until it reaches 65% of the starting amount.
This is one of the betting systems that effectively works if you have a solid method of picking winners. This system helps you keep your bet size small and stops you from allocating too much to relative longshots.
- Round Robin Betting
When betting in sports, you can choose round robin betting by making multiple parlay bets at once. This betting method is a great way to minimise your losses without hurting your potential payout.
You can construct a round robin bet by creating at least three parlays with at at least three different lines. So, even if one parlay fails, you can manage to earn a profit by creating three different two-team parlays.
- Chasing Steam
A “steam” or a “steam move” is a large wager bet on a game that can result in a significant shift in the betting line. These moves are usually made by experienced bettors or sharps due to which the bets you make can bring extremely profitable results.
Keep your eyes on sportsbooks to identify the dramatic shift in a specific game’s odds. Check and go to another sportsbook immediately where this change has not been reflected yet and place your bets down at the original odds. A steam move causes a reaction in that particular sportsbook within minutes. That’s why you need to find a book that’s slower to react to get your worth of money.
- Focus on Single Bets
A single bet, also known as a straight bet, is where your wager is graded on the result of a single game. In this bet, you take the moneyline, point spread or total in one game, and this is the extent of your entire wager.
Single bets can be an effective strategy when you do your research. Read articles, listen to podcasts or check multiple other sources before you decide on which team to bet.
- Reverse Line Movement
Reverse line movement in sports betting occurs when a line moves away from the side receiving majority bettings. In this strategy, you wager on the side opposite of the higher percentage of action which is called the “non-public” side.
The line movement can be due to multiple reasons such as personnel changes, injuries of players, or other changes. This could also mean that the line shifted without any money actually being bet. Therefore, you need to be aware of the changes and study the game to have a sure-shot chance of winning your bet rather than just relying on the reverse line movement.
Dutching is a betting process where you can bet on more than one selection during the same event. This ensures you gain a profit no matter which team wins. You can use this strategy to increase your risk by carefully selecting which teams or players to bet on. The fewer choices you make, the fewer losers you support and the more profit you make.
Dutching is ideal for multi-outcome events where you can bet on any number of selections. However, this strategy should only be used when the outcome is very likely.
- 1X on Home Outsiders
You can use the 1X strategy to successfully bet money on sports. This strategy aims to bet on the “double chance” 1X if an outsider plays against a favourite at home. In this case, the 1X bet brings favourable odds and interesting opportunities to gain profits.
Despite this logic, do not go blindly for any team. Check the statistics and advance information about injuries or suspensions that can impact the line movement.
- All-in on Odds at 1.20
As per this betting strategy, you can win numerous bets, one after the other and always use the maximum offers to earn money. If you manage to win 30 or 40 times in a row, you get big money. But, this strategy has a significant disadvantage as well. All your money is gone if you lose a bet.
This betting strategy uses odds around 1.20 which can be sometimes lower or higher. It is integral to play the same odds when using this strategy. So, if you bet $10 and lose, that’s all you lose. But, if you find a bet with odds 1.20 and win it, immediately play the $12 you won on the odds that are around this amount. You win $14.40 which you can invest in the next bet. The profit slowly becomes noticeable as the stakes grow higher.
- The 1-3-2-6 System
The 1-3-2-6 system, similar to the Paroli system, is a positive progression betting system which involves increased stakes after a win. It involves a cycle of bets ending at a fixed point that follows the betting sequence of 1-3-2-6. Popularly used in casino card games like Roulette table, Baccarat, Blackjack and dice games where you can play with even sums.
When you lose a bet, the sequence ends and you start a new one. And if you win, you adjust your stakes according to the sequence and increase your stake by $30 (three betting units). If you win the next round, then increase your bets by $20 (two betting wins) and if you win the next round again then increase it by $60 (six betting units) as per the 1-3-2-6 sequence. If you win all four rounds, the sequence is complete and you start all over again.
- The Fibonacci Betting
The Fibonacci betting strategy focuses on betting on a tie. If you lose, you bet in the next tie according to a certain key and start increasing your stake. The amount you start increasing depends on the Fibonacci sequence which is: 1-1-2-3-5-8-13-21-34-55-89-144-233-377-…
If you lose a bet, you return to the start of the sequence, but if you keep winning, then you add money according to how the sequence proceeds. Although a controversial betting system, you can offset the previous losses as per the sequence and even make a net profit. However, it also negatively impacts your bankroll if you have a losing streak.
- The Kelly Formula
When you bet on sport, the Kelly formula can help you calculate the ideal stake on a bet. Although there is no guarantee that your bet will always be correct, this formula helps you choose the size of your bet.
As per this formula, you choose a game or event and rate the outcome as a percentage. Then, you look for an odd number for this event that seems fair to you. After this, put the probability (in decimal odds) and the odds of winning subtracted by 1 (probability of 100% is 1) in the Kelly formula to get a value for it.
After you get this value, continue to calculate and find the best possible stake for this bet. Find the percentage of bankroll to bet set by dividing the value by odds and subtracting it from 1.
- System Bets
A system bet is a football betting strategy where a mixture of several accumulator bets makes it possible to win part of the bet even if you lose one or more bets. In the system bet 2 out of 3, three bets on any events are selected where all possible pairs of two are created from the three picks.
The bets result is three possible pairings and thus three accumulator bets in a system bet. Similarly, the bet 2 out of 4, 3 out of 4 and 3 out of 5 follow different combinations where bets are created in different events.
The system bet with the bank is another safe bet strategy where you pick a safe event in every single combination. Likewise, there are many types and combinations of these bets which you can use according to the game and its condition.
- Live Over 1.5 Goals Betting
This lucrative betting strategy follows live betting on “over 1.5 goals.” The bet has an advantage due to the development of the odds. Only use this betting strategy to find a game where you can expect an over 2.5. Before the game, you will usually find the odds to be very slow. However, the rates increase every minute when the game is missing and goals are being missed.
Wait for the 35th to 55th minute so that the odds on the over 1.5 are fair and higher. In this effective betting strategies football, you can bet early if there is an early goal, resulting in a profitable exit strategy. You also have the option to have the bet paid via cashout or virtually set it. It gets riskier the more you wait for the second goal.
- The ZigZag Theory
The Zig-Zag theory is a betting strategy which advocates betting on the team who lost their previous game. The strategy focuses on the likelihood of the team (50%>) to rebound and win the following one. The principle of the zig-zag strategy applies to any series that has a 2-2-1-1-1 format. Most commonly used in basketball and hockey, the odds on the team who lost the previous round will favour the “sharp” bettor.
The best time to apply this theory is when you bet on a team to avoid a sweep. Although there is no guarantee that this strategy will work all the time, use your knowledge to form your unique conclusions about a team’s chances before betting.
- Money Race
In the money race betting strategy, the profit amount from a winning bet is directly invested in the next bet. You can continue this strategy through numerous bets until you achieve the desired amount. You can run different types of bets using this strategy by focusing on low odds, making the bets safe.
This strategy is interesting for sports bettors who have a high bankroll. However, if the game starts with a high stake, then the risk of losing also increases. In this case, you should only bet when the probability of winning is high since you can get high winning money.
- Using Home Team Advantage
Betting by understanding the home team advantage can help you win against all odds. This is because whenever a team is playing in their own country, the weather and location play a critical factor. Along with this the effect of the crowd and the bias of home team officials also impact the game outcome.
The opposite teams not only suffer from travel fatigue but also face the disadvantage of not knowing the field or court they’d be playing well. To evaluate if this advantage would work in your favour, you need to assess the team’s profitability in specific seasons. Compare their winning percentage at home to their winning percentage on the road for a bet.
- Fade the Public
Fade the public is one of the common betting strategies where punters have the chance to take advantage of inflated lines. This strategy is not solely based on the likely outcome but also considers the amount of money wagered on one side of the market.
The bookmaker usually tries to balance the books by moving the lines based on different factors. You need to bet by assessing which team offers you greater value that will help you win the bet.
Betting on Different Forms of Games:
Apart from the different sports betting strategies, it is beneficial to see how you can bet depending on the different aspects of a game:
- Betting on a Draw
A draw is usually not the most popular bet, however, draws pay well if you can bet correctly. Find games where both teams have a hard time defeating each other. For example, you can look for teams who are strong league players who as a visiting team face disadvantages to the home team. In such a situation, both teams have a fair winning chance and can most often result in a draw.
- Betting on Late Goals
To bet on late goals, look for games that have a clear favourite with a 3-way winning odds of less than 1.30. Spread the risk over as many games as possible during the betting round and then bet on late goals for each of these games. Statistically, you have a 60% chance of winning all of these bets.
- Betting on Cup Games
Betting on cup games is rare because you need to consider a plethora of factors before you can bet. However, if you prepare beforehand, you can try your hand at betting on cup games. Check which bookmaker is offering the lowest commission rate and you can even try a wider range of odds.
- Betting on Live Games
Make smart bets by leveraging your smartphones and mobile apps. Live betting offers you the chance to bet on games in real-time. Treat live bets the same way you treat pre-bets. Since the odds change quickly in live games, try and analyse certain ranges of odds and calculate their value to get a better deal.
Best Betting Strategy by Sports
You need to use different betting strategies for different sports. Let’s check out some of the most effective strategies for betting on sports:
In the National Basketball Association league, a common strategy is betting against the public. The odds often get inflated because of the significant support for each team. Track initial lines and see how the odds change as the tip-off gets nearer.
In Major League Baseball, you need to target over/under bets, specifically on games that have big lines like +/- 7.5 runs. Check the spread and even the moneyline to see if they offer you any value as these lines have the scope of high-scoring games.
In the National Football League, bookmakers usually have a rate of 50.3% covering the spread. You need to assess the reason and context of previous games and just not the outcome to determine how a team is playing and if you can place your winning bet on them.
The National Hockey League is the lowest-scoring sport among the “big four.” Like the NBA, you can use fading the public strategy as most bets go on the home-ice advantage. Due to this, the underdog offers a strong value and should be assessed for each game within both spread and moneyline bets.
In Golf betting, you can use bets for futures and cash out strategies. This sport offers huge pre-tournament odds, due to which you have high odds of locking in a profit before the event ends and winning big money.
Tips for Effective Sports Betting
Combine various betting strategies along with these effective tips to make more accurate bets and improve your odds of winning:
- Use Live Tools and Data
Betting success depends on your luck and the strategy you undertake. You can only develop the strategy based on several factors like the past performance of the teams. Leverage the help of live tools, find best bets website and make data-driven decisions.
- Focus on Bankroll Management
Your bankroll determines how much money you should wager. You need to stick to certain limits so that you don’t end up losing too much. That’s why by focusing on bankroll management, you wager based on a points system. So, if your bankroll is $1000, then 1 point would be $10 (1%). Adjust it according to your budget and increase and decrease accordingly.
- Learn How Odds Work
When placing bets on sport, it’s critical to know how odds work. Odds represent the payout based on the probability of the outcome. You also need to understand why the odds change so that you can place your winning bet.
- Find Best Betting Lines
Invest your time in searching for the best possible betting lines for your picks. You can refer to online sportsbooks, however, they will have different lines for the same bet and you can end up losing money. Compare all the prices before you place your bet to make the most out of your investment.
- Create Your Betting Lines
You can even start your betting lines as you become accustomed to online betting. Use the available data and become your bookmaker. Work out the implied probability of a market based on a percentage and compare the odds with a preferred bookmaker to see what they are offering.
- Avoid Parlay Bets
You should avoid parlay bets as you can rarely win using it and lose a lot of money. This is not a strategy you should use if you want long-term profits from online betting or just starting in this field.
- Specialise in a League
One of the pro betting tips is to become an expert in a team or league that helps you place winning bets. As you learn more about a team, your chances of placing a correct bet improve which is critical to success. You can use team data, their recent performance and a variety of other sources to make your decision.
- Avoid Future Bets
Future betting focuses on placing a bet based on the past performance of the team. These bets are most common before the start of a season. Bookmakers are the ones who make the most profit out of these bets as the odds can change anytime during the matches.
- Make Early Cashout
Cash out can be an effective tool when used correctly with online betting. According to this concept, you close a bet before the market has closed. This allows you to either lock in a profit or limit a loss. Track games and then reach out to events within the game to utilise this strategy successfully.
Thus, when betting on sports, you need to have a clear understanding of its rules along with how you can use different strategies to your advantage. Start small and learn how these bets work and slowly increase your stakes to improve your chances of winning big.