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Whether you’re new to sports betting or not, it’s always good to sharpen your skills. In this article, we’re going to discuss sports betting tips that will help ensure you have the best chance at making consistent profits.
Bankroll Management
In order to become a profitable handicapper, you need to stay in the game long enough. There are multiple ways to manage your bankroll, such as flat betting a unit size or using the Kelly criterion method.
I recommend learning the Kelly method and then applying the fractional Kelly method to ensure that your bankroll isn’t at risk with a few losers. Ideally, keeping your bets around 2% of your bankroll is safe.
Getting the Best Odds
There isn’t a single sportsbook that offers the best odds on every game. This is why it’s often recommended to open accounts with multiple bookmakers, as it allows you to shop around for the best odds for your wagers.
Let’s say you want to bet the Devils to win in the NHL. If they’re -150 at Book A, you need to bet $150 to win $100, but if they’re only -120 at Book B, you only risk $120 to win $100, which over the long run, will safe you lots.
Find the Value in the Markets
In the NFL, point spreads are often very sharp and most games end within a few points of the actual closing spread. However, there’s lots of value to be had when you handicap smaller markets, such as player props.
You don’t need to bet on the most popular sports either. If you follow a lower division soccer league, you can often dominate those markets until you’re limited, as the lines are looser due to less public action.
Take Advantage of Betting Promotions
There are always lots of betting offers to take advantage of depending upon where you reside. US bookies will often offer bettors sign-up bonuses, reload bonuses and entry into handicapping contests.
Offshore bookmakers often offer daily offers, such as enhanced odds on popular events, free bets on specific betting markets and more. In most cases, the offers are risk-free and can add to your bottom line.
Utilize Handicapping Services
I used to never use handicapping (Tout) services, but they have their place in the industry. A lot of us work FT and don’t have the entire day to spend at home handicapping and watching line movements.
In recent years, we’ve seen an influx of handicapping services and varying price points. With some research you can easily come up with a handful of inexpensive services that have posted consistent profits for years.
I never recommend buying single picks for $100+, as that’s not going to show a positive ROI most of the time, but there are plenty of monthly or season-long services that use data models to beat the bookies.
When researching these services, make sure you first look for data on how they’ve performed since releasing the service. If that data isn’t readily available, then move on immediately.
These are some basic sports betting tips that are designed to make sure you have the best chance at being a profitable bettor. Read through our other betting guides to learn how to handicap sports.
