Sports gambling is becoming more popular each year, millions of people place bets annually, but less than 5% actually win long-term. Below, I will discuss why these people tend to lose money and how you can become a winning player. This isn't some get rich quick scheme, I am a winning sports bettor that is willing to give you free advice.
Things You Will Needpen and paper
Use psychology to determine the winner. In nearly all competitive events, your mindset is the most important thing. You can be an average athlete with a lot of "heart" and make more of an impact than a player with high potential and low energy. If a team is on a winning streak, they are more likely to play inspired football. A good team on a losing streak versus a bad team on a winning streak is usually not properly adjusted by the book makers, which usually means profit.
Bankroll management. This is the number one reason people go broke in sports betting, they bet all their money on one game. There is a lot of variance in sports betting. Which means, you will have days and weeks where you lose money. You have to prepare yourself for this by leaving yourself a large cushion incase you lose. You should never invest more than 2% of your bankroll on any game.
Don't bet on every game. This is one of the top five reasons why people lose money in sports betting. They bet on games they aren't sure of and lose money. You should always look through the lines and find the flaws made by the handicapped. You shouldn't bet on a game just to have more money on the line.
Create a "real" value for each team. After the first or second game of each season, you should have a value on each team. The media will often over publicize certain teams that haven't yet played any difficult teams. They will often leave certain teams under the radar. This leads to the general population betting on what they think is the best team. You can evaluate the real value of a team by watching how they play against good teams. Just because a team is undefeated, doesn't mean there a good team. Don't pay attention to the media hype for certain teams and create a real value for each team based on strength of schedule.
Pay attention to fluke plays. Fluke plays are part of the variance described above. Certain teams will go through a season getting lucky and winning games they should have lost. Tipped balls and fluke plays often result in undeserving teams getting better odds. You can take advantage of this by watching which teams are getting the most fluke plays and have a value higher than they should.
Extend winning streaks and cap losses. Sports betting often has large streaks where you can lose for a week or win for a week. If you haven't had a losing streak in a while, pay attention to the amount you are betting. The old saying goes, "what goes up, must come down." This means, if you have been winning for an extended period of time, you are probably at your peak and should reduce your bet sizes.