Gambling can be a very risky business in general, however if done with discipline it can be very enjoyable, making watching sports more fun and also sometimes lucrative. How can you make the most of betting though and give yourself the best chance at success when betting on your favourite sporting events?
Being such a competitive industry betting companies will constantly be offering promotions to try and lure in new customers and find ways to retain existing ones. Even if you favor a particular bookie and think their offers look appealing, don't just be lured in by this and make sure that you shop around to find the best value and best odds. A good place to look are odds comparison sites, so that odds can be compared for most sporting events across most major bookies. This exercise makes it quite apparent where the best value is to place your bet.
For example, if looking to place a bet on the popular First Goalscorer market of a football game, many bookies will have their own special offers around this. The likes of Betfred and Totesport, amongst others, offer Double the Odds if your chosen player scores first and then goes on to score again or treble if he scores a hat-trick.
Also, if you are looking to place a simple bet it is worth looking on a betting exchange service such as Smarkets or Betfair. They may charge a commission; however, their odds are still likely to be good enough to make it a competitive price to take. If you are betting on horse racing, then it is always good practice to make sure these bets are placed with a bookmaker who offers 'Best Odds Guaranteed'. This means if the Starting Price (SP) is higher than the price you backed, the bookmaker will pay out at the higher price should your horse win.
Don't hope for a 100/1
Unless you have done a lot of analysis and really know your stuff, placing a multi bet accumulator is not the way to achieve success. Bookies love punters who place accumulators because they almost never come off, especially the high odds ones with 10 legs, for example. Overall, most bookmakers payout the majority of money from single bets. Therefore, it is very much recommended sticking to a single selection or a double, rather than placing a head in the clouds acca that is very unlikely to come in.
Have a reasonable bank roll
If anyone is looking to make a decent income from sports betting, then it is advised to have a decent sized bank roll to start with. This will ensure that you can absorb any losses before the wins start coming in, and even ride out any bad runs. If you have a good bankroll and a decent plan, be patient and it will grow with time. You shouldn't really look to place a bet for more than 2% of your given bankroll at any time.