For millions of people around the globe, sports betting is a hobby and an enjoyable pastime. However, there are many who would like to do more than that.
We are not talking about becoming professional gamblers here, instead we mean those who bet but take it seriously with the hope of winning money.
The professional step is a big one, but in between we have this step, where your aim is to win money, but it is not your livelihood that you rely on.
If you think you have the right sporting knowledge, and perhaps more importantly, the right betting knowledge, then here are three ways in which you can take your sports betting to the next level.
Record Results and Fine Tine for the Future
If you want to improve your betting over a long period of time then the only way to do that is to begin recording your results. Without past results, you have no way of knowing what you are good and bad at, and what you should be looking to cut out other than by guessing.
A record will show where you win and lose your money. For example, do you have a losing record on the PGA Tour, because you are only a casual golf fan, but win on horse racing where you have in depth knowledge?
Then when you have this data in front of you, it is time to fine tune things. Using the example above, you should either be cutting out completely your bets on the PGA Tour, or reducing the stakes of them.
If you go down either route but want to keep the same level of money being spent, horse racing is a sport you should be considering upping your stakes on.
Look for Ways to Preserve Your Betting Bank
There are ways you can preserve your betting bank. Ultimately, you profit and loss is determined by two things. The first is the profit you make when you win a bet. The second is the losses you make when you lose a bet.
Preserving your betting bank is all about cutting down on those losses. It could be a change in stakes based on the results you have above, or it could be knowing when you shouldn’t bet, as we will talk about below.
Another option is to use anything the bookmakers give you, these are usually offers. These mainly come in the form of free bets, and while ever you are using a free bet, you are not paying cash and potentially losing it.
Every time you get the bookmaker to pay for your bet, or give you a free bet for fulfilling something, you are cutting back on the amount you spend. If you are looking after your money at home, the first thing you look at is your expenses, do the same with your betting.
Know When Not to Bet
If you keep up to date with the latest sports news then you will know about all of the big events on the horizon. This is likely to lead to you betting on many different sports.
You can’t be an expert on them all, and if you want to move your betting to the next level then you need to learn when to stop betting. Wagering needs to be controlled if you want to make a profit, rather than wasting it on fun bets based on sports you don’t really understand.
Betting is vitally important, and you won’t win a profit without staking but there is a control needed for those who are looking to take things to the next level.