It’s easy to get overwhelmed with websites promising to arm anyone with sports betting tactics that would guarantee your success in the Premier League.
Some claim to have discovered the secret recipe for beating the odds and consistently winning thousands of dollars week after week: statisticians; marketers; betting specialists; mathematicians; strategy gurus; and a slew of others.
Despite the fact that these sports betting tactics aren’t complete mysteries, adopting them will give you the advantage of earning more profit. Keeping these 5 points in mind when betting on sports is essential.
#1 Do your homework
This is perhaps the most crucial factor in sports betting. You should always do your homework before placing a bet. Even if betting on your favorite team at the EPL on the basis of a hunch works occasionally, you will not make money long-term by doing so.
It’s possible to win a game of chance, but it’s not guaranteed. Most sports gamblers don’t conduct any research before placing their bets, so keep that in mind. In other words, any little bit of analysis and background study you put in will place you head and shoulders above hundreds of your fellow sports bettors in the betting game.
Find trends, learn about the latest EPL fixtures, construct sports betting systems, and evaluate previous games in order to ensure that your bet has a reasonable chance of winning.
#2 Manage your bankroll
Always have a specific amount of money set aside before placing a sports wager. As with any form of gambling, never bet money you can’t afford to lose on sports.
This is one of the most time-tested and valuable tips you’ll ever come across. To avoid gambling with money you can’t afford to lose, learn how to effectively manage your bankroll.
If you’re betting the English Premier League with a $500 budget, make sure each wager is no more than 1 to 5 percent of your total. This keeps you out of potentially disastrous circumstances where you lose a lot of money or end yourself chasing losses just to wind up in debt in the long run.
#3 Focus on your end-goal
There’s a justification why it’s referred to as sports betting and not sports gambling. To put it another way, sports betting gives you an advantage over gambling, where you’re always at a deficit or playing with a very small amount of benefit.
If you want to be successful, the golden rule is to avoid doing what everyone else is doing. When you’re first starting out, it’s only natural that you’d want to follow the crowd.
In order to achieve financial independence through sports betting, it is essential that you develop your own unique style and approach and avoid just copying others.
#4 Shop for lines
Making sure you’re looking for the greatest lines is a critical first step in becoming a successful sports betting. You may win a lot of money throughout the course of plenty of EPL results and seasons by trading the lines that would never have been one.
If you want to bet on a specific team or outcome, you’ll need to have an account at a few different online sportsbooks, and you’ll need to compare the odds offered by each book before placing your wager.
#5 Stick to what works
Betting on sports, like most things, can be overly difficult. Theories abound, and it’s all too easy to get carried away. Analyzing and theorizing for its own sake is a waste of time.
In sports betting, the cardinal sins of selection bias, model overfitting, and over optimization, for example, might harm your odds. Instead, have faith in your strategy and wait for it to pay off.
Of course, you’d really have to keep a close eye on results and make course corrections, but your essential plan would remain mostly unchanged. Don’t obsess on the stats. Your greatest asset is a basic plan backed by intuitive logic.