Becoming successful in sports betting requires some level of strategies. The three most successful people in betting in the world are Matthew Benham, Billy Walters, and Tony Bloom. They went as far as developing mathematical models that they have continuously used over the years. They all became rich through sport betting- that is their common denominator.
Is your goal to be like them and beat the odds?. We have outline 10 steps you could take to achieve your aim
1. Understanding the concept of value:
This is very important. If you don’t possess this, please walk away. You might be certain that a favorite with 1,20 is going to win ,but are the odds offered worth it? We have heard bettors say that there is no way for a favorite team to lose the game. They might be legitimate favorites but ask yourself “ Is the probability of them winning better than the odds offered”. When you bet with such mindset, is like say an over-priced car was good value just because you needed it so badly. It doesn’t work that way
Value is a straightforward concept that is misunderstood by majority of gamblers. It could mean doom for the naïve bettors while becoming a rich haven for the few that could recognize it.
Being able to spot value means you are able to spot odds that are consistently too high and capitalize on them. Your job here is to find the undervalued teams and “buy their stock” each day which doesn’t seem too easy. Recognizing value is all about judging chances more correctly than the market does. It is difficult for each game though but isn’t impossible. Your big leverage over the bookmaker lies in the power to skip matches with unfavorable odds- just like when you don’t need to buy all the shares in the stock market.. The bookmakers always do offer odds for almost all games but mostly in the most popular leagues.
Recognizing value is the hardest thing to do in this business and you will need lots of practice to achieve this consistently. Once you are able to acquire this “superpower”, you will have the systematic edge, and your chances of getting rich through betting will soar
2. Elementary Maths.
If you have ever hated maths, then you should probably avoid betting. Plenty of gamblers can bet based on intuition and win, to be successful in the long run, you need a sustainable staking plan and you need to understand how probability works with odds. It is a number game and your relationship with multiplication and division should improve.
3. Understand how bookmakers make their odds.
This lies on how the event is popular and it reflects on how the bookmakers think the public will play than on the actual chances of either outcome. In essence, the bookmakers set their odds so as to attract people to bet on either side of the odds so that they would not lose their commission.
This attracts smart gamblers to find great value where the general public is taking a different route of thinking. There are usually great values in areas that the normal gambler can’t recognize profit. There are markets such as the Super Bowl, Cup finals and major horsing racing events that present such opportunities.
Recognizing the right bookmaker can increase your chances of being successful. You have to choose bookmakers that allow you to win. In the reality, most bookmakers would not allow this and will limit their successful customers or may ban them outrightly. You could also make use of betting exchanges that act as medium to bookmakers. Betting exchanges will not ban you for winning either as you are betting against other customers on the exchange, rather than a bookmaker directly. Some betting exchanges are better than bookmakers in terms of odds and bet sizes in major leagues and sports.
4. Ability to love teams that the general public hates.
The longer we continue betting, the more we are able to spot and love teams that the general public doesn’t like. In fact we better about a potential bet when it looks uglier on papers. These clued ones that that have performed well in the past and have lost 4 or 5 games. The more a public hate a team, the more we drawn towards them.
Continue reading the part two here