This point will be more useful to beginner bettors than to experienced bettors, but a reminder never hurts. Even if we really want to believe it, we must understand that there is no miracle method on the internet allowing you to succeed in sports betting thousands of euros per month without doing anything. Forget all these techniques that are offered to you on the internet. Among the best known is of course the martingale which offers us to bet double the money each time we lose a bet until we win. Let’s not go into detail about these methods to take them apart one by one because there are so many that it would take me a week.
All of these methods have the sole purpose of getting you to register with bookmakers via the affiliate links of the sites offering you these methods so that they can earn commissions on your future losses.
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Rule n°2: Have a Healthy Bankroll Management
A bettor’s bankroll constitutes his gaming capital. This is the total amount of his money reserved for making his bets. This amount evolves as gains and losses occur and it must be clearly distinct from the rest of your money (to live on, feed yourself, dress yourself, etc.).
What is very healthy bankroll management?
To put it simply, the bankroll management is not to exceed 1% of your total capital per bet. So, if you have a bankroll of $1000, you almost certainly could not go bankrupt (lose everything) by only betting $10 per bet (from the moment you are a winning player in sports betting over the long term).
However, let’s bring nuance to this. Indeed, we can already hear you telling us how to build a bankroll quickly to be able to place bets that are starting to be interesting as quickly as possible. For us, a bet unit of $100 can start to bring in interesting winnings. Indeed it is problematic since by maintaining very careful bankroll management (“nit” as they say in poker), we risk taking a long time to build it up.
It can therefore be wise to bet at the beginning up to 5% of your capital ($50 for example for a bankroll of $1000) in order to make it grow faster at least at the beginning with the aim of reaching the The goal later is to only bet 1% of your bankroll on each bet when you reach your final bankroll objective.
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Rule n°3: Play Value Bets
The motto could be: “you find value, you will succeed in betting”. This is the ultimate (and probably the most difficult) rule to follow to succeed in sports betting. To put it simply, a value bet is a bet with a positive expected gain.
Here is an example to understand this concept: you play a coin with a friend. You bet it’s going to be heads and tails. In theory, there is exactly a 50% chance that heads will come up and the same chance that heads will come up. Now in your agreement, you give your friend $10 if heads and he gives you $11 if tails (this is what we call the odds in sports betting). In this case you have a value bet and you must accept the bet. Indeed, if we imagine 1000 throws, you will have won a lot of money at the end while he will have lost some. Your expected gain is positive in this diagram.
The principle is to find the same patterns in sports betting.
Here is another fictional example from sports betting: imagine a tennis match between Murray and Federer with respective odds of 2.1 (Murray) and 1.8 (Federer). Is there a value bet on this match? The answer to this question will depend on your analysis or that of one of your tipsters. If after analyzing this match you determine that Murray has more than a 50% chance of winning for example, then you have found a value bet (provided that your analysis is good and that you are right, i.e. Murray has well over 50% chance of winning).
