How much can you make following a tipster? (really) At one point, every sports bettor would have pondered the question: “should I get a tipster’s opinion first, before betting my money?” This is the part where you seek out a tipster, which is a person who earns a living by recommending bets to punters. Just like in every other industry, there are different types of tipsters you’ll come across. Some tipsters are excellent, others give awful advice, and then there are the scammers. But, knowing how to utilize the advice of a good tipster to your advantage, can go a long way in helping you make money in sports betting. Understanding how much you can get out of a sports betting tipster is important, no matter if you’re signing up on your mobile phone or visiting a land-based sportsbook in person. In this article, we discuss how to identify good sports tipsters, how to earn money using tips, the benefits of following a tipster and how to maximize tips to earn profits in the long run. Similar Article: Can You Make Money Backing The Favorites Article Content: 3 ways to identify a good sports tipster  Benefits of following a  tipster Make money following a tipster  How to utilize sports betting tips  3 Ways To Identify A Good Sports Tipster There are lots of bettors who search for tips because they want to increase their odds of winning. But, your main goal should be to come out on top every time and value betting as well – this means you should bet in a way where the probability of you winning is greater than the odds reflected by the bookmaker. Doing this is your best chance of gathering long-term profits. Same way, there are many bettors who just want to pick the winner. And oftentimes, the demand for betting tips outweighs that of value bets. This proves that seeking advice from a knowledgeable third party can place you ahead of other bettors. Thankfully, finding a good sports tipster isn’t a difficult task. These are 3 ways you can identify one, below: 1. A Good Tipster Charges Money It is better for you to pay for the services of a good tipster and be sure you’re getting the best because free tipsters can be audited and might not be legit. 2. Avoid Acclaimed “Insider Information” Any tipster claiming to have “insider information” or advertising any other services in this manner, is most likely a scammer and you should not get involved with them. 3. Read Bettors Reviews The best way to learn, especially in sports betting is from the experience of other bettors.  So, when you find a trader, ensure that you go through the reviews left of their pages and pay attention to the ones that raise concerns. You should also feel out about their services. If the tipster has a good track record and is recommended to be honest in their dealings, then use them over the ones who promise you quick profits. Benefits Of Following A Tipster While it is always advisable to use a Prediction Site to place your bets, there are still some really good benefits that can come out of following a tipster: 1. Higher Earnings  When you work with a talented and professional tipster, you increase your chances of earning more money. To measure how much you can make following working with a tipster, calculate the return on investment in the time you started working with them. You can also delve into the tipsters’ records to see if they’ve produced results before, this should give you some confidence that they can work the same wonders for you. 2. Getting Valuable Insights Sports tipsters who know their onus are experts in their respective industries and should be regarded as valuable sources of insights and information on a particular sport. For example, if what you need is Football betting tips, the tipster you use should be a renowned expert in this sport. By combining their vast knowledge with unmatched mathematical skills, these experts can give you vital insights. Additionally, since sports betting is a social event often done amongst friends, having a tipster in your corner can give you a much-needed headstart. Don’t forget, anybody advertising “insider info” is most likely trying to fill their pockets rather than genuinely help you make money. 3. Managing Your Opinions There are a million thoughts that come into your head when placing a bet, and most of them translate to opinions that require immediate action. If you have a gut feeling and don’t want to run it by your friends for fear of them acting on it, using a sports tipster is what you should do. A tipster takes some stress off your hands by either confirming or condemning your selections. No matter what they do for you, you’ll come to bet with a much clearer mind. See: How Do I Make Money From Football Betting? Making Money By Following A Tipster  Earning profits in sports betting is more about getting the odds to favour you and constantly being on the right side of statistical probability than it is about knowing how a sport works. Working with an experienced tipster can get you there faster, but you too can get the odds in your favour by yourself if you can just identify small prices that represent value. Value is where the price is more than the true probability; a defect in the market or the bookmaker has made a mistake. To make money while following a tipster, you would also have to put in some effort on your part to amplify the tipster’s abilities. Here is a quick rundown of what you should do, so that you can process this information faster: 1. Find Value Bets To find value bets by yourself, you’ll need expertise in understanding odds, modelling prices, and reading betting markets. But, if like most bettors you don’t possess the time, skills, or expertise to always

Does anyone know how bookmakers make their money? One good thing about sports betting is that you can make profits consistently by understanding the system and applying the right strategies. But, winning in sports betting needs more than understanding how it works. No matter how good you are, you’ll lose money. There are a lot of reasons why this happens, and one of them is bookmakers using some hidden techniques to give themselves an advantage in every prediction. Being successful in sports betting? Cashing out every other week? Is dependent on your understanding and then destabilising this advantage, and how bookmakers make their money. Read also: Can You Make Money Backing The Favorites Article Content: Who is a bookmaker? Types of bookmakers Bookmakers and how they set odds How do bookmakers make their money? The basic principle of bookmaking  Charging the vigorish / overround: How it works Odd compilers and what they do Bookmakers margins: how they work  how bookmakers create a balanced book Key Takeaways: How to make money from bookmakers  Who Is A Bookmaker? A bookmaker or bookie is a sports personnel who oversees gambling, especially on sports events. A bookie sets the odds you find on a Prediction Site, accepts and places your bets, and pays winnings on behalf of oddsmakers. Types Of Bookmakers There are three types of bookmakers to select from when betting online. 1. Fixed Odds Fixed odds bookmakers issue odds in fractions to create betting markets. Odds are offered in three outcomes of a match – Home, Win, Draw, and Away Win. The odds have an inbuilt profit margin or house edge. Bookies take bets on every option that reflects a probability and creates a profit. 2. Spread  Here, bettors wager on the outcome to be lower or higher than the spread. Spreads are represented in two numbers, traders buy at a high number and sell at a lower number. Spread-betting bookmakers earn money from the difference in stakes and payouts. Markets change depending on buy and sell stakes. 3. Exchange  Betting exchanges are represented in decimal odds and support peer-to-peer betting. It puts together bettors who want to back an outcome and layers who bet against it. Exchange bets are matched at equally beneficial prices, partially or not matched at all. These bookmakers issue a back and lay price for outcomes in sports. Back prices are lower than the lay price. An exchange bookmaker makes money from commissions on winning bets. This ensures that they make profits regardless of the outcome. Bookmakers and How They Set Odds One way bookmakers win is by calculating the odds of them winning an event. They do this using statisticians and developing complex models. “Moneylines” and “spreads” are important factors for them. Other times, their calculations are based on the ones developed by casino actuaries or risk calculators. Basically, they underscore which teams the bookmaker believes will win a match. Lines and spreads can be adjusted in the time leading up to an event based on the bets made in their books or fluctuations in casino bets. Bad weather, injuries to players, and doping scandals influence odds too. A bookie aims to maintain balance in the books by adjusting the odds as much as they can so that an even number of bettors back a win or loss. If the books are balanced, the bookmaker earns only the vig. But, if a bet is one-sided on a team or outcome, they have a higher chance of losing money. How Do Bookmakers Make Their Money? Bookmakers make their money by charging a fee (“vigorish” or “vig”) on every bet they take, and pay out earnings when customers win a bet. Their goal is to earn more cash than they pay bettors. They do so by adjusting the odds to even the amount of people betting on a win or loss. A vig is up to 10%, although high-profile bets like a tight line on the Super Bowl can be higher than this.  Here is an outline of other ways bookmakers make money: Bookies set the right bet prices. They set and change betting lines. Balancing the book and curbing risks. Counting on bettors’ emotions and lack of knowledge. See: Betting Basics: Optimizing Your Betting Selections Basic Principle Of Bookmaking  The basic principle of bookmaking is, a bookie accepts money when they lay a bet for a customer, and pays out money any time the customer wins a wager. Professional bookmaking ensures that they take in more money than they pay out. Bookmakers can’t control an event’s outcome out, but they can control how much they’ll lose or win in any results. Bookies set the odds for all the bets they lay, which always guarantees them a profit. Charging The Vigorish / Overround: How It Works Vigorish (juice, margin, or overround) is the main method bookies use to set odds in their favour. They build it into odds to help them make a profit. But, how does a vig work? We’ve explained everything using this coin toss example: A coin toss has two outcomes – “Heads or Tails” and both are equally likely. There is a 50% chance of heads and a 50% chance of tails. If a bookmaker offered true odds on the toss of a coin, they would offer more money than they already do. This would be: 2.00 in decimal odds +100 in moneyline odds  1/1 in fractional odds. A $10 bet at even money returns $20, which is $10 profit plus the initial stake back. If the bookmaker had 100 customers betting $10 on the toss of a coin, half bets on tails and the other half on heads, they won’t make any money in this scenario. In the image above, if the bookmakers are accepting a total of $1,000 in bets, they must also pay out a total of $1,000 in winnings no matter the result. But, since they are in business to make money, this scenario does not favour them. That

What is the difference between betting for fun and betting for profit? Many people all over the world, view sports betting as a favourite pastime, and as such, they tend to favour some games like football or horse racing over others. And since betting is a source of entertainment for sports enthusiasts, they engage in it regularly and at some point, they start developing a reason for why they keep gambling. You see, betting for football, horse racing, or any other sport gives bettors two benefits which they can decide how they want to enjoy. It can either offer you fun or profit. Whatever your reason is, betting is a serious game that still requires focus. But, back to our question, what are some key differences between betting for fun and betting for profit? We have given the answer in this article, as well as discussed how to navigate both choices. See: Football Betting: Important Facts And Questions That Must Be Answered Article Guide: Betting for fun Betting for profit Betting for fun vs betting for profit  Importance of betting for fun Importance of betting for profit  Tips and strategies for Betting for fun Tips and strategies in Betting for profit Advantages and disadvantages of betting for fun Advantages and disadvantages of betting for profits  How to bet for fun and profit  Betting For Fun Betting for fun is wagering money on a particular sporting event merely for entertainment. You don’t care whether you lose money or not, as long as you’re entertained by a match, you’re good. Watching sports without betting on them is exciting. But watching football or basketball when there’s no obsession for payouts involved, intensifies the fun you’ll have because you’re doing it with a clear mind. Here, you’re less likely to be affected by the outcome, compared to when you’re betting for profit. Betting For Profit Betting for profit is the riskier side of sports gambling, especially because anything can happen. You must fortify yourself with an edge over other bettors.  If you consistently bet for profit, you will never really enjoy a match, and neither will you feel the same excitement the other type of bettor does. This is because you’re fixated on making money, more than you are feeding your passion for sports. Making profits from a bet takes a lot of research and preparation, which sucks out all the fun for you. You’ll only ever be happy when you win a wager. Losing a bet also breeds negative emotions like stress, depression, and addiction if it’s not managed well. This is when you start chasing losses or accumulators’ bets because you want to compensate for the money you lost to feel good.  However, you can still make betting for profit enjoyable, by mastering self-control, applying the right sports betting strategies, and not overplaying your hand. Betting For Fun Vs Betting For Profit Some bettors gamble for the fun of it, while others gamble for a chance to win money. In the table below, we have examined some differences between betting for fun and betting for profit, to give you an idea of what both gambling choices entail. Fun  Profit Don’t care if you win or lose money. Gamble for a chance to win money. Enjoy the thrill of gambling. Risks losing money. Bet for the experience alone. Should have a bankroll. See gambling as a medium of entertainment. Avoid emotional attachment to bets. Uses betting to socialize with friends. Understands odds and how to use them. Bet to pass time the time. Learns to pick winners more than losers to increase profits. Important Points For Betting For Fun If you bet on sports to simply relax and be entertained, it is important that you know the practices that’ll make this experience worth it, since you’ll be predicting outcomes. Focus on a sport that intrigues you the most. That is how you have fun. Budget only an amount you can lose. And after you’ve lost, stop betting. Gambling stops being fun for you when you lose more money than you can afford. Don’t place huge stakes on single wagers. They should get a very small fraction of your entire daily budget. Reduce the number of bets you throw to win. Only back meaningful wagers, don’t jump on everything in the market. Getting involved in different types of wagers doubles the excitement, has more meaning, and places you closer to a win. In-game betting is more exciting, and so do it. Don’t obsess over the results. Understand the basic strategies of betting, they guarantee more fun when you use them and they work for you. Importance Tips For Betting For Profit So, you’re betting for profits? The tips you need to succeed in this area, are more straightforward and to the point. Be smart and know how to properly analyse the different factors that influence certain results. Know that hard work is essential if you want to win consistently. Exercise patience. This helps you to not be discouraged when your expectations aren’t met. Have a good knowledge of basic mathematics if you want to keep money from sportsbooks. Master control of your emotions so that your feelings are in check and you bet with a clear eye. Gather information on how to succeed by getting details on wagers, options, markets, and sporting events. Luck is good, but having a strategy is more important. This will help you assess what brings you successful wagers and why you fail. Tips And Strategies In Betting For Fun There are different ways you can be for fun. Do you want to just enjoy the game or get involved and place bets?  No matter what you want, these strategies can help you: First, find a good bookmaker where you’ll be placing your bets. You get extra points if you use a Prediction Site that gives you good lines and odds. After you’ve found a good bookie, the next thing you need to do is to open an account

How good is your knowledge of football betting facts and questions? When it comes to football betting, anyone who considers themselves a sports betting enthusiast must equip themselves with information surrounding certain facts and questions in this industry.  We say this because knowing these things don’t just help you make smoother bets, but it also gives you a better understanding of betting for football. On that note, we have written down answers to some frequently asked football questions you might have. These answers cover enquiries regarding betting odds, using football betting sites, types of bets, etc.   By the time you are done reading this article, we hope you’d have improved your football betting knowledge. Now, without further ado, let’s see what these facts and questions are.  Related: Betting Basics: Optimizing Your Betting Selections Important Football Betting Facts And Questions That Must Be Answered What should I know before betting on football? What is the most profitable football betting strategy? What is the secret behind football betting? What are some sure tips for football betting? What are the odds? Do football odds vary by bookmakers What are the different types of football odds? What does vigorish mean? Who sets the odds and lines in football? Why do odds and lines change? Why do different football betting sites have different odds and lines? Do own goals count for both teams to score? How does the first goal scorer work in football? What does draw no bet mean? What is double-chance betting in football? If two or more players tie for the golden booth, who wins it? How many red cards are issued before a football match is abandoned? How do booking points work in football betting? What is regular time in football betting? Should you bet on the draw in football? What is an assist in football? How does corner betting work in football? What do match odds mean in football betting? How do bet builders work? What is score cast betting in football? See also: Top Football Betting Myths Dispelled! 25 Football Betting Important Facts And Questions That Must Be Answered Football bettors have a lot of questions about betting for football, and it’s only right that we answer them with the appropriate answers. These are some football betting facts for you: 1. What should I know before betting on football? Before you start betting on football, there are a few things you need to do to make your betting experience more enjoyable. We listed some of the below: Find the best available odds in the market. Utilise matched and arbitrage betting. follow football tipsters and their predictions (to an extent) Keep a record of your bettings. Be content with the little wins and profits. 2. What is the most profitable football betting strategy? There are numerous football betting strategies, which you can follow to consistently cash out in this industry. However, some strategies are more profitable than others: Early cashouts. Bet over 1.5 goals live. Find a league to specialise in. Bet on the draw, late goals, cup games, and live games too. 3. What is the secret behind football betting? The secret behind football betting is wagering when you have higher than a 50-50 chance of winning a bet.   Or if the chances are less than 50%, you can win and then the bookmaker will make the amount they’ll pay as good or better than the risk you took. 4. What are some sure tips for football betting? There are some core football betting tips every serious bettor should always keep in mind if they want to succeed in this industry: Maintain discipline. The golden rule of betting is that you only wager an amount you can afford to lose. Utilise bonus offers. Shop around to find the best odds, don’t just accept the first one that comes your way. Do thorough research on odds, bookmakers, and football events. Always keep a record of your betting. It helps you track your wins and losses accurately. 5. What are the odds? Odds show the expected profit on each bet you place. For example, a 10 euros bet at odds of 2.2 will get you a profit of 12 euros on a winning bet (10 X 2.2 – 10). They also indicate the probability of a specific event happening. The lower the odds, the greater the probability of the event occurring ( odds = 1/ probability).  Odds of 4 show that the event has a 1 in 4 (¼ = 25%) chance of happening, while odds of 1.2 correspond to a probability of 83% (1/1.2). 6. Do football odds vary by bookmakers? Yes. the odds offered by bookies for a match might change due to unforeseen circumstances. But, once you’ve placed your bets, they cannot be changed, no matter what happens after that. 7. What are the different types of football odds? Football odds can be represented in many different ways. Decimal or European odds are offered mostly in Europe, and they differ from American odds or British odds (fractional odds). 8. What does vigorish mean? Vigorish (vig, juice, or overround) is the amount or commission a bookmaker charges bettors for each bet they place for a sporting event.  This vig is part of your bet so you don’t have to pay an additional fee. It’s how bookies make their own profit from sports betting. 9. Who sets the odds and lines in football? Odds and lines in football are set by oddsmakers or odds compilers in the employ of bookmakers. These professionals have extensive knowledge of football and their job is to ensure that the opening odds and lines are accurate. Oddsmakers are the ones who also adjust the odds and lines based on a number of factors. 10. Why do different football betting sites have different odds and lines? Odds and lines reflect the opinions of the odds compilers on what’s likely to occur in a sporting event. When the odds and lines vary in football betting sites, that

How good are you at optimizing your betting selections? Sports betting works in the direction you lead it, and it can be as easy or complex as you want it to be, based on how you decide to select or optimize your bets. In this article, we’ll break down the workings of optimizing your betting selections. The good thing is you don’t need to be an expert bettor or have much knowledge on how to optimize your sports picks and bets. This makes it very easy for you to get entertained, while still making money from sports betting, without needing to do a lot of learning. But, the downside to this is that making good selections consistently or making lots of money solely from sports betting is not simple. This means you must put in the effort and learn so many things to be a professional bettor that actually succeeds. We have listed out some strategies that can help you optimize your selections better. 8 Strategies For Optimizing Your Betting Selections Making good betting selections is the third and final requirement in becoming a successful bettor, but it is the most difficult and it isn’t something a single article will teach you.  But, in the absence of an exact blueprint to follow, our guide can provide some clarity on the things you don’t understand. We’ve made it comprehensive so that you get all the information and tips you need to build your own working approach. Keep in mind that this article won’t magically transform you into a successful gambler, but it’ll get you one step closer to it. It features several useful hacks for optimizing your betting selection process. So, let’s see what we have for you: 1. Expert Selectiveness In professional betting, you must be selective with the wagers you back. And there are certain areas you should apply this selectivity to if you want to succeed: The amount you bet in a given period. The number of sports and sporting events to wager on. Value of the odds and lines offered to you. Types of bets you place – point spread, money lines, or game totals. 2. Apply Rational Thinking As a rule of thumb, the decisions you make in sports betting should be based on rational thinking. “Hunches” or unproved “theories” won’t do you much good in the long run.  This is why it’s important that you ignore your instincts and focus on making selections born for rational and objective reasons. Reviewing your thought process before every selection is a great place to start. Step back and try to understand your reason for any bias, preconceptions, or assumptions. 3. Don’t Choose Picks Emotionally Love and support your favourite team, but don’t pick them because you’re hoping they win a match.  Matter of fact, do not bet on the team or player you like because those emotions can affect your judgment. But if you must pick a team you favour, be objective about your reason for doing so. Similarly, don’t be complacent when you’re on a winning streak or let a series of losses lead you to make bad betting decisions. 4. Work Hard Working hard is one of the simplest ways to improve your betting results, and this can be done by putting in more time and effort to research. Research gives you information about important things in sports betting like teams and players, helping you assess the outcome of events better. By committing your hours to put in the work, you can also interpret and analyse this information to your advantage. However, as you do your research take these factors that affect the likelihood of events occurring into consideration: Team/player quality. Key strengths and weaknesses. The current form of players/team. Recent injuries/fitness levels. Motivation. Consistency in performance and results. Venue. Schedules. 5. Look For Value Bets Finding value bets means assessing sports betting lines and then backing the odds which offer the most value with lesser risks and more opportunities for profits. Outrightly betting $1000 on a heavy favourite for an earning of $100 is not a smart move, and so is backing a team whose odds are undermined. Before you bet, research, calculate, and watch out for lines that offer you the most value. Note, value can be found by shopping for a good Prediction Site, rather than just good odds. 6. Bet Less Most bettors believe that wagering on as many sports as they can improve their chances of winning big money. This is a wrong notion. You must not place too many wagers weekly to earn money. The fewer bets you place, the more time you can spend on each of them. Spending quality time on your betting selections is a good way to improve them. So, instead of betting on every market you see on the bookmaker’s website, be more selective. Also, consider these points: How many sports to wager on. How many different leagues or competitions to bet on. The number of games/ events to wager on. How many bets to place on a game/event. 7. Weigh Risks And Rewards As it is with all good businesses, having a stable cost-benefit analysis is important if you want to make accurate betting selections. Follow this simple rule, avoid selections where the risks outweigh the rewards and vice versa. 8. Observe Selection Essentials In addition to every strategy that has been laid down in this article, make sure that you observe other important selection process essentials such as: Statistical and performance analysis. Betting trends. Good bankroll management. Tips That Help When Optimizing Your Betting Selections If you are a bettor who has a hard time conducting thorough research on sports events before making your betting selections you can get help with this.  There are certain tips that could help you with conducting research and ultimately making good selections. Here are some of those tips you could use for easier research: Check the implication of the event. Validate statistics. Steer clear of opinion

Do you keep records of your betting? If you are someone who regularly bets on sports but doesn’t keep records of your betting, then you’re making a huge mistake. Keeping betting records is an essential step you should take as a serious bettor if you wish to increase your profits. This also applies to you even if you’re just betting for fun. Taking note of your betting records is not difficult, but most bettors don’t do it.  All you need to do is make little notes tracking every wager you’ve made in the past.  There are several benefits that come with keeping records of your betting, and in this article, we discuss all of them.  See also: 5 Common Mistakes Bettors Make. 5 Reasons Why You Should Definitely Keep Records Of Your Betting 1. To help you track your wins and losses 2. Access sustainable strategies and systems 3. You’ll identify your betting strengths and weaknesses 4. Record and categorize individual wagers 5. Evaluate your performance better Reasons Why You Should Definitely Keep Records Of Your Betting Although keeping records of your betting can prove useful in a number of ways, there are some bettors who still won’t do it. That being said, there are numerous benefits you could enjoy when you keep records of your betting.  See 5 reasons why you should definitely keep records of your betting below: 1. To Help You Track Your Wins And Losses Most bettors often struggle to remember how many times they won or lost in sports betting. This is especially common amongst recreational bettors. While this doesn’t seem like a big deal, there are some reasons why you should know the number of times you’ve won or lost a wager. One such reason is that you may be losing more money than you think.  Being bled dry by sportsbooks might not be a problem for you if you’re wagering with money you can lose.  But you should still keep track of these numbers so that you ensure you’re not exceeding your betting budget. If your records show that you’re spending more than you budgeted, then it is time to reduce your stakes or the number of bets you place.  Similarly, you may be making more money than you think you are. In this case, you should be more serious with your betting. StakeToys and Bet Tracker are two bet-tracking software you can use to keep records of your betting. 2. Access Sustainable Strategies And Systems Even if you are in sports betting for entertainment rather than to make money, you should always strive to get the best out of your betting experience. Spending money you won’t get back on fun might not seem like a big deal to you, but we guarantee you’ll enjoy placing bets more if you won from them. With that being said, you must find new ways to improve your results and maximize your earnings. A good way to do this is to try out new strategies and systems. Keeping detailed records of your betting is the only trusted method of knowing if your strategies or systems are working for you. 3. You’ll Identify Your Betting Strengths And Weaknesses Sports bettors have never been restricted from wagering on different sports and events or even placing a range of bets.  There is nothing wrong with this betting style. However, if you do this without keeping records of your betting, then you’ll never know which areas you’re strongest or weakest in betting.  No one bettor, no matter how experienced they are, can be an expert in all types of sports. They’ll always be one or two you excel in more than others.  With a record, you can easily identify which sports complement your strengths the most and channel your energy and money toward those ones. Read: 5 Expert Football Betting Tips You Should Never Ignore. 4. Record And Categorize Individual Wagers Keeping simple records of your betting is better than keeping no records at all. But, the amount you spend and what you make back is not all you should keep track of. For a more detailed well-rounded betting record, you should include information like: Selection Odds of selection Stake Result of wager Payout Profit/loss Another thing you should note is that your records don’t have to be sophisticated. A simple spreadsheet can suffice. Every time you place a bet, you enter the details in a fresh row. Categorize your wagers by keeping different spreadsheets for every sport you bet on. One for football, soccer, tennis, etc. Also, add extra information for every wager you place by including extra columns for relevant events or competitions. Additionally, include a column for the type of wager to help you record if it’s a point spread, totals, futures, etc. With these columns, you can track your performance accurately and see which sports you’re getting your best or worst results in.  5. Evaluate Your Performance Better If you’re not just betting on sports for the sake of it, then keeping records of your betting will help you evaluate your performance better. With a record, you’ll know where you stand, how much you lost or won so far, and which wagers to back or ignore.  The knowledge you have will guide you on which steps to take and ensure that you don’t fall into a losing streak. More importantly, your sports betting experience will be more fulfilling. How To Keep Records Of Your Betting If you wager online or with a land-based casino, an easy way to track your profits or losses is to note down the deposits and withdrawals you make with a bookmaker. Although a simple pen and notepad can work, using a spreadsheet is better. And the sheet doesn’t need to be complex. In the spreadsheet you use to keep records of your betting include these fields: Date of the wager Outcome wagered on  Odds Betting site Deposit Withdrawal Results (win or loss) Running total To become a professional bettor who

What are the 5 common mistakes bettors make? Sports betting is one of the most common lucrative leisure activities that require you to make smart decisions in order to place successful wagers. However, since sports betting is based on chance, winning in it is never guaranteed no matter how much of a good bettor you are.  Nevertheless, some bettors often mitigate their chances of winning by making some common betting mistakes like not having a bankroll, chasing losses, and not keeping track of bets.  This article discusses the 5 most common mistakes bettors make that constantly put them in their own way and minimize their chances of backing successful wagers. You can learn this so that you can avoid these errors at your next bet. See also: Two Major Things That Make You Lose In Betting. 5 Common Mistakes Bettors Make 1. Poor Bankroll Management 2. Chasing Losses 3. Betting With Non-Reputable Betting Websites 4. Not Shopping Around For The Best Odds 5. Lack Of A Clear Betting Track Record Common Mistakes Bettors Make These are 5 common mistakes bettors make when placing wagers and how you can work towards avoiding them. Let’s go! 1. Poor Bankroll Management Poor bankroll management is a recurring mistake sports bettors make. Before you even begin betting on sports, you must first learn bankroll management techniques. Knowing how to manage your bankroll is important for both new and experienced bettors, whether you’re betting for sports or entertainment. Learning how to be disciplined with your funds can make them last longer. Another thing you can do is to put in place rules like setting cap limits (the maximum amount you’ll bet in a day) and determining the size of your betting unit (the standard size of your wager). A cap limit can be set daily, weekly, or monthly. The money in your bankroll should be a guide when you’re setting limits. Bet with only your available money so that you don’t run into debt. Define your betting units depending on how much cash you have. Units are also a good way to account for your total wins or losses and track them over time.  Follow strict guidelines when managing your bankroll and do not spend more than you budget. Doing these things will help you manage your betting bankroll more efficiently. 2. Chasing Losses No bettor ever sets out just hoping to lose a bet, which is why when they wager, they do so hoping to win. However, things don’t always pan out, and losing a bet is inevitable.  After a loss, it can be tempting to want to make up for the money you lost by placing a new bet. This is known as chasing a loss and if not stopped earlier, can lead to a dangerous cycle of you always placing bets because you are “supposed” to win back your losses.  This habit is discouraged amongst bettors, although the majority of them still indulge in it. The more you try to gain back lost money, the deeper you dig yourself into a hole of recurring losses. Chasing your losses in severe cases leads to more losses you can’t manage and ultimately to you going into gambling debt. Therefore, rather than betting to cover lost money, instead, come up with betting strategies that can maximize your winning chances. 3. Betting With Non-Reputable Betting Websites Your online sports betting experience is only as safe as the bookmaker you use. And honestly, if you bet with a non-reputable betting website, then you’re just looking for trouble. Gambling with a Prediction Site whose platform isn’t trusted or licensed doesn’t just put your money at risk, but your personal information can also be exposed to unauthorized personnel.  Only use a bookmaker that has a verified gambling license and they should also provide their license number for confirmation.   The betting site must be SSL-secure with a sustainable firewall system that protects your banking information and guarantees your privacy too. See D0’s And Don’ts To Winning In Sports Betting. 4. Not Shopping Around For The Best Odds Different bookmakers provide different odds to bettors and while most times one odd might be slightly higher than another, that tiny difference can give you a higher wager.  It is essential that you shop for odds that different betting websites have on the same bets to ensure that you get the highest winnings available for your selections. You can even go on to open multiple accounts with different bookmakers. No one company can have the best odds in sports betting, so if you want to succeed as a bettor, shop for better odds wherever in the market you can find them. Set your sites on the ones with competitive odds. One good place to start will be with new online betting sites. New bookmakers desperately want to attract more clients, so they always have amazing odds.  By settling for only the best odds, you’ll get a huge amount in payouts every time your bet wins. 5. Lack Of A Clear Betting Track Record Taking a data-driven approach to sports betting can provide you with valuable insights. It is advised that you consistently track the amount of money you deposit in your account. The amount you win, how much you win or lose, the type of sports, markets, and submarkets that you were most or least successful in. That way, you can build a clear roadmap that shows where you are and in what direction you should go with your wagers. Also,  there are betting sites that provide players with statistics relating to user activity so, you might want to use these types of sites too. Strive to take account of every bet you place. Having a clear track record of your bets, helps you determine if you are truly making money on sports betting or not.  You will also get concrete evidence you can refer to, rather than basing your betting career on illusions and assumptions. Sports betting is entertaining and following