How to benefit from sports betting

The objective of sports bettors is to make a profit while enjoying our favorite sport. The sad truth is that for most gamers, this is an elusive dream. However, by carefully developing and following a ploy, anyone can make this dream come true.

There are two factors to consider to profit from sports betting:

• Selection of bets
• stakeout plan

Selection of bets

The first, Bet Selection, is obvious: we need to back winners at least part of the time. Consider horse racing, anecdotally, there are plenty of professional punters who make a comfortable living picking horses, but the key word here is professional. The research and analysis of each horse at the UK’s 59 racecourses requires a considerable amount of time and expertise. If you want to be successful then it’s a full time job! For most of us, this means that we have to use the advice of experts to do some of the legwork for us.

horse racing tipsters

There is no end to horse racing in the UK with self-proclaimed internet “experts” charging up to £100 per month. When selecting a horse racing tipster, the most important factor to consider is long-term results.

The internet is flooded with tipsters who have had a good month but then post a loss for the next six, but you’ll only see this month on their home page! Never follow any advice without first consulting the informant’s full results history. Choose a tipster that publishes their entire horse racing tip history, ideally where the tip results are posted the next day along with a full history of all their tips.

Take a look at a tipster testing site like Racing-Index, which rates the results of various tipsters. Consider which tipster gives you money and fits your own betting profile. Can you really post the 100 tips every month that some tipsters require?

Following tipsters alone is not likely to make us wealth: the best tipsters are either locked to new members or charge fees so high that profits are lost immediately. The solution is to develop our own system using advice from expert sources combined with our own research. This is the strategy used successfully in greyhound racing by followers of the site. As with most things; the more you put into your system, the more you’ll get out.

stakeout plan

Once we have a betting strategy, it’s time to look at a betting plan. The simplest is fixed or level betting, where we simply bet the same amount, say 2% of our starting bank, each time on our selected horse; however, we would like to increase our bets as our betting bank grows. This leads to Betting Percentage where a percentage of the current betting bank is bet each time. This means that as we win, our bets are higher and, conversely, the bets are reduced when the betting bank decreases.

However, we intuitively know that these betting plans are too naive, as we would be putting the same amount of money on a low odds horse as compared to a high odds horse. Since we are looking to maximize our profits, we should bet more on a low odds bet, as the return will be lower.

To find the optimal engagement plan, we could take a correspondence course in statistics and spend several years doing research. Fortunately, we live in a time when this research is close at hand. From probability theory we have the Kelly Strategy where the optimal percentage of our betting bank is calculated from the betting odds and our own estimate of the probability that the horse will win.

Using an online Kelly strategy calculator, just input the values ​​to get the betting bank percentage for each horse. Now the Kelly strategy can give us some scary percentage bets if we have an early run of high odds horses so we can adapt it to a half stake Kelly plan where we bet half the percentage recommended by the Kelly strategy. This would result in a slower buildup of game winnings, but a less hair-raising ride.

The most important sports betting tip to keep in mind is to only bet with funds you can afford to lose. Always gamble responsibly – If you think you need help and advice on problem gambling, visit http://www.gambleaware.co.uk.