What Makes a Successful Sports Odds Bettor?

Posted by Joe Solari on Wednesday,March 16, 2016 6:06, EST in

Anyone—including my nana—can pick a winner or two in sports betting. But if want to become a long-term and successful sports bettor like Gambler Extraordinaire, Billy Walters, then you will need more than just stringing up a couple of wins. No doubt, only a very small percentage of gamblers get sustained success in sports betting, but the truth is that the fundamental factors between winning and losing are actually quite simple–It’s all a matter of discipline, approach and consistency. And in case you are asking, the answer is Yes; anyone can learn these elementals and develop long-term profitable online betting strategies that will make them successful sports bettors. Below are some of the important things you need to become a successful bettor.

Making a Succesful Sports Odds Bettor

Join the Best Site(s)

By now, I am guessing most of you probably know how invaluable it is to join an informative and well-tailored site that suits your needs. There are several sites out there and most of them are perfectly designed, but not all of them have the best odds and good payment systems that will match your betting wants. As a rule of thumb, always go for site with the highest quality of services and best possible experience. And while you are at it, have the ability to sport the best lines and odds from the site(s) you join.

Knowledge, Knowledge and More Knowledge

Whether you want to bet on a horse or a team in the NFL, you have no option but to acquire the necessary knowledge about which wagers are likely to make you a winner, including issues like past trends, current form, player injuries etc. Also be on the lookout for house-specific information such as betting rules and free betting giveaways that can prove very pivotal in your betting. Knowledge is literally power (and money) in sportsbetting, and without it, you won’t have a chance to become a long-term success. Of course, luck plays an important role in winning, but only a fool would want to trust in chance for lasting success. And yes, betting is a numbers game, so you must have some modicum knowledge about mathematics, especially in regards to calculating which odds will give you the most value for your money.

Stay With Simple Bets for As Much as You Can

This rule particularly applies to those who are just getting started in the world of sportsbetting. Tempting as it is to make advanced and complicated wagers to win big, you are better off keeping it simple, at least until you master the tricks of the trade regarding making tough wagers.

Avoid the Following Betting Mistakes

  • You should be ready to accept the fact that losing and winning are both parts of betting, so don’t over-celebrate when you win, or over-criticize yourself when you lose. Be ready to accept that both can happen to you at any time and always be prepared to deal with both outcomes at any given time.
  • Avoid chasing wins and losses: No matter how big your bankroll is, know when to say no, especially when you are on a losing skid. Chasing losses can easily lead to disasters, just in the same way pushing your luck does when you are winning. I know it’s not easy to say no, no wonder we primarily said that you need to be disciplined if you want to be a successful bettor.
  • Keep away from markets you aren’t familiar with: If football betting is your thing, then stay loyal to it and avoid rushing to horse racing just because you heard someone made some big bucks in the Kentucky Derby. If you want to extend your betting tentacles, only go to markets that you are familiar with.

Have a Sound Betting and Money Management Plan

It’s okay if you are a recreational bettor and you place your wagers for fun, probably because your boyfriend loves a particular team (and so do you), or simply because you went to a particular college that you hope to win in the NCAAB lines. But if you are all about serious betting, ensure that you employ a smart game plan and an even smarter way of managing your money when making the bets.

Bet with your Head, not your Heart

Do I have to explain this?

Bet when you are Sober

If you aren’t a drinker, or a heavy drinker, then you are well covered here. But if you are one of those people who indulge to the point of forgetting what happened the previous night, then you probably need to keep away from placing wagers when drunk, as you could easily blow away money and undo years of hard work by making an ill-advised bet.