Sports Betting Keys to Success

Sports Betting Keys to Success

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It goes without saying that to be a successful sports bettor, there are a lot of things you have to do well, and do them consistently. No one becomes a successful sports bettor overnight. However, we’re constantly asked by our followers and clients about what it takes to be a successful sports bettor over a long period of time. There’s no one size fits all formula. Everyone is different and therefore can and should tweak the process so that it best suits them. However, there’s some things that are universally true.

  1. Money management and discipline

We talk all the time about managing your bankroll and being disciplined about when you deploy your money. As we always say, there’s always going to be a game on tomorrow. You don’t HAVE to make a bet everyday, or even every week or month. Sometimes, taking time off is a good thing to reset your mind and get back into focus. Sportsbooks are generally profitable because they are slow and methodical, and have the discipline to be methodical over a long period of time. The more effective you are at managing your money and emotions, the better off you’ll be.

2. Hard Work

Warren Buffett didn’t become a genius stock picker over night. It took years and years of studying balance sheets, company fundamentals, and learning all about the important metrics in the financial markets. In fact, he still keeps the same habits today, and that’s why he is who he is. The same is true in sports betting. Think about it from a sport or even a fan perspective. Did you learn all the rules in the NFL or the history of your favorite team overnight? Of course not. It took a long time, likely years, to have all the knowledge you do now. Sports betting is about studying trends, learning about how players react off rest days, how teams play at home versus on the road, which stadiums are the toughest to play in, and so on. Keep all of this in mind when making your next bet!

3. Know Your Limits

Once again we can use Warren Buffett as an example. Famously, he refused to invest in technology stocks because he didn’t understand their business models. He invested in what he knew. The same is true for sports betting. If you know the most about the NFL and MLB, don’t feel pressured or the need to bet on college basketball. There are THOUSANDS of baseball and football games throughout the year. There’s always going to be another game to bet on. Don’t ever feel like you’re missing out on the sport of the moment. Sportsbooks have an army of workers that are dedicated to specific sports. They stay in their realm of expertise, and generally speaking, you should too.

4. Only Bet What You Can Afford to Lose

This is, by far, the biggest key to success. Losing streaks happen. Bad beats and tough losses happen. The easiest way to overcome this is by not sweating individual losses. Sports Betting, at its core, is supposed to be fun and entertaining. Making money is secondary and is more likely to come if you play safely and responsibly. It may sound simple in theory, but it may be tempting to chase losses and bet bigger than what you normally would to try and make back earlier losses. Don’t ever do that. Stick to what you normally bet on every game. Winning streaks and losing streaks will come in time. Both types of streaks come with the territory.

As we said earlier, there’s no one size fits all policy when it comes to being a successful sports bettor. However, if you follow and stick with these tips, you’ll put yourself in the best position possible to succeed. And after all, isn’t that the only thing we can ask for?