Given the wide popularity of sports in general, we can expect to see lots of fixtures in competitive sports and e-sports in 2021. There are massive international events like the Tokyo Olympics and Euro 2020. On the other hand we have big domestic tournaments, including a whole new season of IPL brought back to India. While this is a great news for sports fans, it is also a relief for sports bettors. If you wanted to get into sports betting but 2020 threw a wrench in your plan, now is a great time to start. However, sports betting is not an easy affair.
There are many who got lucky on their first wager and doubled their money. But the opposite is much more common. It is likely for many people to learn the ropes, but then keep losing money despite all efforts. If this is the case for you, here is a guide on aspects that you should focus on.
Are Winning and Losing Streaks Real?
The big question every newbie bettor faces when casting their votes is whether winning streaks are real. There is actually no simple answer to this. When a team has won three or four of their last games in a row, there is an obvious confidence that works in their favor. A side that keeps losing, on the other hand, is clearly under a lot of stress. Plus it is a testament to a team’s ability when they keep winning. It means their chemistry clicks, because one cannot keep getting lucky. So for the most part, putting your belief in winning streaks is a reasonable idea.
The correct answer, however, is twofold. Firstly, you have to look at the winning streak as a composite of other factors. In the current match, do they have the clear upper hand without the streak? Is the streak a result of recent changes to the team? And are the conditions ripe for their winning as their previous encounter? These are questions you must ask yourself. Secondly, you are not the only one to go gaga over winning streaks. Many other bettors will go with their guts on this too. To clarify, that means lower odds on the potential winners, and low earnings for you.
The Two Major Types of Bet
The best bets you can get is on a fixture where two teams are on equal footing. But depending on the game, that could be a rare occurrence. For the vast majority of games, the bookmaker is going to declare a clear-cut favourite and underdog. Genreally, you can bet on the teams in two different ways: spreads and moneylines. Point spreads give you a certain victory margin for the underdog/favourite. They have to win/lose with the point difference being higher than the threshold (e.g. -5/+5). Moneylines, on the other hand, are far more fruitful in low-scoring games like soccer. So if you are looking to bet on the upcoming Euro 2020, focus on moneylines.
See, if you want to win it big, the reward must be proportionate to the risk. Moneylines in general give you much better odds for taking the risk to bet on the underdog. A +200 underdog bet basically gives you a $200 reward for putting $100 at risk – if you win, that is. However, here is the big point. Moneylines certainly give you the highest benefits for a risky bet. But if you want to cover a greater chance for an underdog bet, the spread bet might be wiser. For the underdog to win the spread bet, they don’t have to win the match. They just have to cover the spread threshold. So factor this distinction in when you bet next time.
Develop A Betting Strategy And Stick To It
You might know that most sports bettor lose more money than they make over a lifetime of betting. But that is because they do not really bet for the right reasons, or with a set strategy. Many casual bettors bet on their favourite team for fun. Sentiments are a big part of what makes sports so entertaining to watch, but in betting they can be a detriment. So if you want to win, be completely objective. The other big reason, of course, is keeping at a strategy. It is not difficult to develop a long-term strategy. It is a composite of finding value bets, doing some good risk assessment, as well as managing your bankroll. But a very important thing is that you be consistent with it. Many people fail to execute a betting strategy because they are not patient enough with it.
Ultimately, luck plays a key role in betting of any kind. When you find value bets, you basically find bets that let you get away with good odds while also keeping it risk-averse. But a 100% fool-proof plan does not exist. You might still lose money on the best bet of your life. In those cases, remember that your strategy is the long haul. Do not chase losses or agonize over individual chances you missed, because a good strategy will always bring profits in the long term.
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