Online betting is hugely popular all over the world, and the range of bookmakers that now offer sports betting odds and casino games is constantly growing.
Many betting site users play for fun and don’t worry too much about profit and loss, but on the flip side, lots of bettors take their wagers seriously, with some even taking the plunge and doing it full-time.
It is very difficult to turn over a long-term profit through online betting, and given the variance that happens in sports, nothing is ever a guarantee. But if you are looking to become more skilled at sports betting, the below five tips are a great place to start.
1. Focus on skill rather than luck
Casino games are undeniably fun, and if you play online slots with big jackpots there is of course the opportunity to earn big payouts, but ultimately this is not the best way to make money through betting sites as you cannot overcome the house edge.
There are also a number of sports betting markets that are more luck-based than skill-based, and you want to avoid these. For example, you can bet on who will win the toss in cricket matches, and whether there will be an odd or even number of points scored in a frame of snooker.
You are simply leaving too much to chance in these situations, and there are far more efficient ways to find value.
2. Know your sport inside out
Just because there are 20+ sports listed on betting sites like 888sport, that does not mean you should be betting on all of them. In fact, the more you can focus on one particular sport, or even one league, the better.
Many recreational bettors wager on big events across a range of sports, but advanced punters will hone in on one specific competition, more often than not.
It is also worth being an expert in something that is less mainstream – for example, Polish basketball – as your knowledge may indicate to you that the odds may not be completely accurate. Meanwhile, it is highly unlikely that Premier League or NFL odds will be wide of the mark.
3. Shop around for the best odds
Regardless of your opinion on how a match will play out, the odds are the only thing that should dictate whether or not you bet on it. It should only be a bet if you genuinely think you are getting good value.
For various markets, there may be some difference between the odds across different betting sites. This is why it is crucial to look for the best price, rather than just settling for whatever you can see on the betting site you are logged into.
Be sure to compare odds across a selection of bookmakers. It is hard enough to win bets as it is, so you want to be paid out properly when you do manage it.
4. Claim betting offers
The vast majority of online bookmakers have betting offers and free bet promotions for users to take advantage of, and many of them are well worth a look.
Betting sign up offers can be very lucrative, and often come in the form of free bets of a deposit bonus. Existing customer promotions are also excellent, as you can get free bets, enhanced odds, and more.
Keep an eye on the promotions section of the betting sites you are registered with, and make sure you have opted into anything that could be beneficial.
5. Maintain your discipline
This is a vaguer suggestion, but discipline is so important in online betting. If you go on a winning run, don’t start upping the stakes. Likewise, if you lose a few bets, don’t go chasing that money by placing silly wagers.
Some punters like to keep track of all of their bets through a spreadsheet, and this might not be a bad idea if it helps you see what you are doing well and where you may be going wrong.
Setting a bankroll is also smart, and it is suggested that your stakes are somewhere between 1-3% of your bankroll, unless you are placing lots of bets every day, in which case you should reduce the stakes.