8 Best Tips On How To Bet Like A Pro

By on November 17, 2021

How do professional bettors approach their game? What is their mindset like and what makes them different from an average punter? In this post, we discuss how you can up your betting skills and train your mind to think like a professional bettor. Let’s take a look at how you can become a pro at betting –

Bet at Legal Gambling Websites

Although most websites right now are legal, you might deal with a risky one. Do some legwork and research the background of the website before signing up or placing any bets. A few signs that the betting site is trustworthy include –

  • Proper licensing on the website
  • Promising reviews left by other users
  • A strong sense of the online betting community
  • Secure transactions and payouts
  • Excellent customer service

Manage Your Bankroll and Create a Unit Size

In betting, (especially for beginners) the likelihood of losing money is always more than that of making some. Therefore, it’s important to decide how much you can realistically afford to lose on sports bets. Naturally, this will largely depend on your financial situation. But, it’s important to manage your finances and keep track of how much you’re making and losing every month.

Never bet more money than you can bear to lose. You need to decide on the unit size for each bet. Financially, it’s advised for beginners to stick with stakes no higher than 1-5% of their total bankroll on each bet they place. So, if you have $1,000 in the bank, don’t place bets higher than $10-$50.

Keep Track of Your Betting Records

All professional bettors make it a point to keep a log of their betting history. This has a ton of benefits to offer.

First off, it gets easy to analyze their moves based on the betting history. You can see certain patterns emerging and strategies forming based on past performance. This helps with the evaluation process and improving your strategy.

Secondly, keeping track of things helps you know your exact bottom line at all times. Based on that, bettors know how much they can stake on the next series of bets. Just the act of recording your betting helps you stay more disciplined and organized. In the long run, this is extremely helpful. For an average punter, having all gambling results in a spreadsheet is an excellent way to manage losses and keep winnings.

Identify your Strengths and Weaknesses

You’re dealing with real money; not fake Monopoly money. So, it’s important to keep track of your progress. Invest in a good app that gives you access to features like odds shopping, live bet cover probability, etc.

These things help you identify your strengths and weaknesses. Perhaps you are more successful betting on the NBA than on the NFL. Do you have a better success rate with over/unders or player props? Having access to this kind of information can maximize your winnings and overall success rate exponentially.

Avoid ‘Sunk Cost Fallacy’

This is a term from behavioral economics. The principle of ‘sunk-cost fallacy’ implies that the more money and time you invest in something, the more difficult it gets to abandon that. It applies to everything whether you talk about a bad relationship, business, or investment decision.

The more time and money you have invested with something; the stronger emotional attachment you will share with it. When you engage with the ‘sunk cost fallacy’, you keep throwing money and time at a venture/project that’s doomed; simply because of the emotional attachment you share. They just don’t know when it’s time to cut the losses.

The same goes for sports betting. On a bad day, it’s better to cut your losses. And no matter what, do not up the size of your bankroll to compensate for a losing streak.

Do Your Research

Getting started in the world of betting has never been easier; thanks to the internet and ease of placing bets. Today you can join online communities, betting forums, and browse through sportsbook Reddits. You can interact with real-life bettors who have been betting for a long time.

You can learn from the experience of other people and avoid several costly mistakes. For beginners, it’s crucial to do as much research as possible before placing first place.

Also, whenever possible – exchange ideas with other friends to pick up their brains and learn new sport betting strategies.

Stay Disciplined and Maintain Patience

It might take a while before you truly get the hang of things. Remember, things take time and so does betting. The more bets you place and analyze deeply, the more comfortable you will get. With time, you will develop a natural intuition and become more sensible. It’s only a matter of time before your ROI improves.

But, none of that will be possible unless you stay patient and remain disciplined through the course. Bet without involving your emotions. And, do not let bad days discourage you. Everyone goes through rough patches. But, sticking with long-term strategy and acting responsibly is the key to success. Discipline is crucial for having fun and staying cool!

Know Your Sport Inside Out

Professional punters only bet on leagues or sports they know inside out. They know the strategies, rules, players involved, and different betting aspects of the game up and down and inside out. If you’re unfamiliar with soccer, don’t bet on soccer games. It’s the same for all other sports. Only place wagers on the sports you know by heart and are genuinely enthusiastic about.

Bottom Line

If you can manage to maintain an analytical and detached mindset, stick with a staking plan, maintain patience, remain disciplined, and bet responsibly – there’s no stopping you before becoming a pro.