1. Discipline – Without a doubt the most important factor when it comes to sports betting success is discipline. It doesn’t matter how good you are picking winners hand over first if you lack the discipline to run your sports betting bankroll like a business. The most successful sports bettors in the world do not see money like most people do, money is just the tool of their trade so you must have the discpline to never chase losses, sticking to your betting system and never ever bet what you can not afford to lose. Sports betting is like any other business or investment, you must have the mind set to stay level headed and keep your cool. Losing streaks and other nasties will occur but you must keep your cool and remember your aim is to make money in the long run, not over one day or weekend.
2. Money Management – There is where most people go horribly wrong. There are so many amazing sports betting handicappers that will fail to take things to the next level and make a living from sports betting because of their poor money management skills and discpline. The fact is that a blind monkey can make money with sports betting when you understand that you are playing a numbers game and a game of probability. There is a good reason why many people who are average handicappers can make a tonne of money in the long run, they know how to bet. Too many sports bettings are focused on who to back and put their money on instead of their bet sizes, progressions and other variables that keep them in the black. Never evet bet money that you can’t afford to lose or need, keep your sports betting bankroll seperate to your other finances, your sports betting money and bankroll is your investment fund that can grow in time if you stick to a solid money management system.
3. Bet With a Sound Mind – DO NOT bet while under the influence of alcohol or other substances. Many sports bettors have learned the hardway how fast things can spiral out of control when under the influence. You are trying to run a business here, you are the boss, can you imagine the devastation of losing your hard earned money on a few impulsive bets, especially if you have grown your bankroll over time? Complete and utter devastation. This is when people usually continue betting, chasing losses and other silly things that can get them in hot water fast!
4. Become an Expert – Emmerse yourself in sport, it is not good enough to be a fan of the sport you must become an expert in the field. Understanding the sports you want to bet on should be an obvious factor but the problem is so many avid sports bettors are unable to recognize value and where they can maximize profits and reduce risk. Becoming an expert will take time but it is a critical to do your homework and research, you will quickly be able to spot opportunities that you can exploit and maximize.
5. Learn How to Bet – Understanding money management and how to bet is just as critical as you who back! The fact is that most people will miss out on juicy odds by not betting at the right times. Depending on who you want to back, the favorites or the underdogs, odds can flucate greatly, typically backing the underdog as late as possible will give you better odds, the opposite for the favorite is usually true as most recreational sports bettors will back the favorites closer to the event time. Understanding how much to place on each bet is extremely important, this is where money management and understanding how to manage your bankroll will either see you making money in the long run or slowly losing it as time goes on.
6. Shop Around for The Best Price – The is no shortage of sports betting books online and with that said there really isn’t an excuse for you not to shop around for the best price. There can be huge differences in odds and payouts from one book to another, having access to multiple sports book account can see your maximizing your returns and investment. There are some great sites online that will give you access to live odds from tonnes of sports betting sites, be on the hunt for the best price, be vigiliant and remember it is either money missed and lost by not doing your research.