Sports betting just keeps getting more and more popular. In October 2020 alone, more than $3 billion was legally wagered in the U.S.
Whether you’re new to sports betting or can’t seem to find a way to win, you need to know the basics of sports betting.
A sports betting strategy is the foundation of all successful gamblers. Keep reading to learn how to create a winning strategy and maximize earnings.
1. Sign Up With Different Sportsbooks
How would you like to gamble for free? Sportsbooks often have sign-up bonuses and free bets that you can take advantage of.
You can create an account with one betting company and get a match on your deposit. You deposit $100 and the provider matches $100, so you now have $200 to play with.
You can repeat this process to try out different providers. You’ll learn which ones have the best bonuses, incentives, and in-game bets.
2. Research Your Picks
No matter which sport you bet on, you have to do your research. You can’t just bet based on your gut feel. That’s an invitation to go through your bankroll fast.
Team sports depend largely on certain players in key positions. In football, you need to look at the performance of the quarterback and wide receivers.
In horse racing, take into account the horse’s recent performances and workouts. The jockeys and trainers are the key people you need to follow.
You can always look for free sports betting picks if you want to confirm your research. That’s a good way to go into a bet with confidence.
3. Pick Your Sports Betting Strategy
Your sports betting strategy largely depends on your sport and betting incentives. Let’s say that you’re betting on horse racing.
You did your research and you know what horses you want to bet on. The sports betting app that you use has an incentive. You get your money back on horses you bet to win if the horse comes in second or third, up to a certain amount.
You may prefer to bet exactas or trifectas, but a bet on a horse to win could make more sense because there’s less risk.
For other sports, you can set your strategy according to your bankroll. For instance, you bet 10% of your bankroll on playoff matches.
You can also create a sports betting strategy by always picking the favorites to win. This increases your chances to win, but you won’t maximize your earnings.
Hedging your bet is possible by betting on the favorite and then pick a longshot.
Increase Your Sports Betting ROI
What does a solid sports betting strategy do? It gives you direction in sports betting instead of just guessing. You also have a way to bet with someone else’s money and lower your risk.
Most of all, a sports betting strategy is a way to have fun and enjoy gambling.
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