Watching and betting on sports in Australia is a favourite pastime. With so many quality sports being played around the world daily, betting on sports can also be profitable.
Here are five hints to help you become a profitable sports bettor:
1. Do Your Research
While every sport has its own intricacies and bet types, one thing remains the same, DO YOUR RESEARCH! We live in the information age and this helps an aspiring sports bettor. The internet provides all the statistical data and information about a player or team that is required to place an informed wager. Last-minute injury reports and weather updates can provide a real edge before placing a bet.
A glance over any sports betting website reveals one thing; there are a lot of events to bet on! The bookmaker HAS to provide multiple markets on all of the sporting events taking place across the globe, whereas the gambler only has to bet on the events he WANTS to bet on. This is the advantage that sharp bettors have. Rather than bet into a lot of markets in a random way they can wait until they find a bet and price that they like.
Specialising on particular bet types and sports plays a big part in the long-term profitability of a bettor. If good results are coming on totals in the NFL, keep doing it. If AFL betting is whittling away your betting bank, stop betting on those games. It is that simple!
3. Find The Best Odds
With so many online sports betting sites available it is important to find the best odds for your bets. Shopping around is recommended but it can be a logistical nightmare having funds scattered in a number of accounts. Unless you have unlimited funds (I wish), I suggest you find one or two trusted bookies and bet with them. I use Palmerbet for most of my betting. They are licensed in Australia and have all the markets I need and their prices are great.
4. Bankroll Management
Finding a winning bet is only part of being a successful sports bettor. A lot of fantastic “tipsters” are not winning bettors. The reason for that is poor bankroll management. Developing a staking plan is crucial.
No more than 5% of the total bankroll should be wagered on any event, despite how much of a “sure thing” the bet is. Experts recommend 2-3% of the betting bank is wagered on normal bets. Smart bankroll management can help a bettor ride out the bad beats and keep them in the game when the luck swings their way.
Keeping track of bets, both winning and losing is important. Are your NBA bets winning all the time while NRL games are costing you money? Why did I place a bet on that selection and lose? An unemotional and profitable bettor can go through past results and identify their own strengths and weaknesses as well as flag areas for improvement.
If you are a hardened sports bettor or a novice it is still fun to back a winner. The five strategies above will help you record a profit and make sports betting fun. It is important to bet with a licensed bookmaker to ensure that your funds are safe and secure. Palmerbet is a licensed betting site in Australia and the Palmer family has three generations of bookmaking experience. When you bet with them your money is staying to support the local economy.
Visit the website at Palmerbet.com or download the Palmerbet app via the app store.