Making a profit on sports betting, in the long run, is not a very easy task. To be successful, it is necessary to have knowledge in several adjacent areas. We’re not saying you have to be an expert in all of them, but it will help to know a little bit about these 4 areas to make your job easier when you put together a ticket.
1. Sports knowledge
Although considered a game of chance, sports betting requires you to be knowledgeable in this area. The more you know about the sport, the teams or the athlete you are betting on, the more likely you are to make an inspired decision and your ticket will come out green. As a rule, sports knowledge is not built up overnight.
You need patience because information assimilates over time. In addition, it is preferable (but not necessarily a rule) to be passionate about the subject. If you like football (watching or/and playing it), it will be much easier for you to remember players, playing systems, rankings or to rely on intuition given by experience.
What do we mean when we say experience? No matter how much you look and study statistics, they won’t always help you to realise the reality on the pitch. To feel beforehand what might happen, to always have possible scenarios in your head. These are given by other, similar situations you have faced in the past.
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2. Betting knowledge
It’s no use being a sports “drummer” if you don’t know how to pick the right markets or lines. Betting is basically a numbers game, and you should always pay attention to this detail. The odds are constantly changing and the lines can go up or down. It’s not always to your advantage to take a certain line in betting, even if most of your arguments are “pro”.
And we’re talking here in particular about times when bookmakers drastically change a market that was excellent to begin with. Maybe afterwards it will still be in optimal parameters, some you would have chosen before the odds appeared, but we are already talking about a clear disadvantage you have. In betting, there are those optimal times when you can pick a line.
And while we’re on the subject, it is most eloquent in live betting. Knowing when to play a certain line, in order to get the best odds, is an asset that will bring you profit in the long run. Familiarise yourself with the sites you bet on, to make it easier to locate the bets you like best.
3. Statistical knowledge
Statistics are never the ultimate truth when it comes to sports betting, as they can always change, but a certain set of data, coupled with the right timing, can make the difference when it comes to a winning and losing ticket. So, first of all, you have to realize that although statistics can help you enormously, they have a limit. But statistical data is that extra bit of knowledge you need to add to your sports knowledge. This is also because the feeling cannot always take the place of reality.
If a team takes a lot of shots on goal, then it is defensively fragile. Although it may not have conceded many goals so far, statistically it is more likely to do so. Something you may not be aware of if you haven’t watched the games of that team or if you’ve only looked at their record. Here, statistics can help you enormously to make an informed decision.
4. Mathematical knowledge
This knowledge is not necessarily mandatory, as the odds calculation is done automatically, but it is preferable to understand that an odds of 1.10 is not that valuable on a multi-event ticket, compared to the extra win it can bring you. Or to understand why you have a certain value at cash-out and when would be the right time to cash in your winnings.
Mathematical calculations when it comes to sports betting are not very complicated, so you’ll get used to them over time. Plus you can use the calculator on your phone whenever you need it.