4 Tips To Stop Losing Money In Sports Betting

Home
/
Blog
/
4 Tips To Stop Losing Money In Sports Betting

July 10, 2020, by Toby Banks

How To Stop Losing Money In Sports Betting

Are you one of those sports bettors who are always looking for winning betting strategies but most of the time you lose? Then, you must review what is wrong. First, don’t worry you are not alone. There are many punters in sharing your situation. But, most important yet is that you will find here some tips you need to stop losing money in sports betting.

With good information, discipline, and being patient you can get out of the loser’s club in sports betting.

How to stop losing money in sports betting

Managing your bankroll correctly

A poor bankroll managing can ruin you quickly. If you are one of those who allocate $ 100 to bet and then you just place continuous $20-bets until your bankroll goes out, you are on the wrong way. Therefore, you must manage your bankroll by determining the amount of each stake based on the risk and the loss that you can admit. A widely used criterion to determine stakes in the world of sports betting is the Kelly Criterion. Another sensible criterion is to invest in each stake between 1% and 5% of your bankroll, no more than that.

Good odds selection

When you place a bet, do you analyze the related odds? Or maybe you just place your wager on a pick directly? Sports betting are not about fortune-telling. You will be a winner if you choose favorable odds for you constantly. It means you have to place your bets on convenient odds. So, you must analyze the odds and look for that sportsbook that offers you the best possible odds.

Follow a strategy

Analyze well and choose betting strategies and recommendations. It is a bad idea to bet on our favorite team by letting ourselves be carried away by heart and fanaticism. This will only make you lose all your funds sooner than you think. Each bet can have a thorough analysis behind it that allows estimating well the real probability of occurrence of a possible result. This is what allows you to detect those favorable odds we talked about before, also called "value bets"

Be constant

All tipsters and all strategies go through bad times as well as good results periodically. To minimize the streaks' effect, you must follow several parallel strategies different from each other. Good and bad streaks will continue to occur. This has a statistical explanation that has to do with the normalization of statistical data.

For example, it will have happened to you that if you go through a bad run then you change to a strategy that is giving you greater success. At that time, the strategy that was on a roll goes into a bad moment and you lose again. In the meantime, the strategy that was in a bad streak has normalized again becoming a winner. But, you put it aside and you missed it!

For this reason, you have to be prepared to resist the bad times and take advantage of good ones. Be patient and draw conclusions about long-term results.

Finally, we can say that these tips will help you stop losing in sports betting. Even you could become a winner by following them. In the end, it is just about being methodic, patient, and having discipline. Remind that luck will smile to those who work hard.

tag