Really? Is there a strategy or strategies for betting? Believe it or not, there are strategies for succeeding in anything. To the uninitiated, everything is chucked down to luck but to those who know (those one who seem to always get lucky), there are strategies that put them where they are. It’s no different with betting.
The betting industry is a huge one and is getting even bigger by the day. As at 2017, this industry was put at a value of about USD 104.31 billion. This figure is expected to increase to about USD 155.49 billion within the next five years.
Bookmakers are constantly making a killing because most of the people who bet do so without a strategy so they just lose their funds. A few times they win but this does not cover for all their losses.
Like we mentioned earlier, success is not a function of luck but of a deliberate set of actions. The purpose of this article is to help you understand how to begin to record regular successes with your betting activities.
Having the Right Mindset
The first important thing to develop is the right mindset when approaching any kind of betting. A lot of people treat betting like a get rich quick scheme. It’s not the lottery (of course you see how many people win the lottery).
Approaching betting as a long term activity will put you in the right frame of mind to adopt a strategy. This will not be the case if your plan is to hit it big with one heavy bet. While we hear of people who hit it big every now and again (betting companies love advertising these heavy wins), ask yourself how many times such wins occur.
Like someone said, this is a marathon and not a sprint. With this in mind, ask ourselves some other important questions.
Why do You Bet?
This is an important question. A very high percentage of people who engage in sports betting do so for fun. They also usually do not put down a lot of money. Another group of bettors bet do so because they are addicted to it. These are the ones that get reckless, losing a fortune on senseless stakes.
A final group approach betting like you would an investment portfolio. These ones are deliberate and strategic with their betting.
If you are doing it for fun, then you are likely not losing much and you are likely winning a few hands every now and again. You can improve on this if you choose. If you are a bet addict, seek help before it destroys your finances.
What’s My Objective?
This is another question to ask yourself. Are you looking to make a quick buck or are you looking to gradually build a profitable base? If you want to make some quick buck, you are likely to lose your money. If however you want to gradually build a financial reserve, you are already in the right frame of mind for success.
Important List of Don’ts
To avoid heavy overall loses, there are a few mistakes to avoid. We will quickly list a few.
- Do not be emotional with your bet.
- Do not be carried away by a single loss or win.
- Avoid betting with money you cannot afford to lose.
- Do not bet too heavily on one stake.
- Avoid putting all your funds on one stake.
- Do not spread yourself too thin across many different sports and stakes.
- Don’t think you know it all, do some research.
- Avoid buying into services that promise results that are too good to be true.
This list is not exhaustive but it contains some of the more common mistakes to avoid.
Using the Right Tools
One important aspect of strategy is the tool you use. People who are serious about recording more wins than loses on their bets use the right tools. A person who uses sports analytics simulator for the top betting trends in NCAA, NBA and NFL is likely to achieve better outcomes than a person who simply relies on their ability to name the starting team.
When you combine the right mindset with the right strategy and then an efficient analytics tool, you set yourself up for a much higher winning rate.
Take the necessary steps today to turn your betting fortunes around. Remember – it’s not luck, it’s strategy.