Anyone can pick a winner or two but what distinguishes a long-term, successful sports betting punter from the rest? It’s true that only a very small percentage of punters are actually long-term winners, but the key factors between winning and losing are actually quite simple. It’s just a matter of approach, discipline and consistency.
Getting the best odds
This is a key factor in becoming a long-term winner. Sure, it’s great when you land a $15 roughie on the TAB, but if that same horse paid $28 on Betfair, then you’re not giving yourself the best opportunity for long-term success.
Mug punters will only bet on the TAB or perhaps one online sports betting account. Perhaps they are a little intimidated by trying a new website, but there is absolutely nothing to fear. All you are doing is costing yourself money.
Some punters will have a Betfair account, which generally allows them to get very good odds on most markets. More advanced punters will also be comfortable with lay bets on Betfair, allowing them to bet against an outcome, or manage their liabilities with other bookmakers.
However the long-term winners are going beyond that. They have accounts at ALL of the online sports betting sites to ensure they can take advantage of not only the best odds, but a range of great promotions on any given event. They also use software such as Dynamic Odds for an instant comparison of odds across all of the bookmakers. They are ALWAYS getting the best price for their bets.
Making Mistakes
Professional sports bettors make fewer mistakes than recreational punters. So what are the most common mistakes that you can easily address and rectify?
Chasing Losses: Chasing losses can lead to disaster. Increasing your bet amounts with every loss might appear mathematically sound...if you have an infinite bankroll. Most of us don’t, so the theory will work every time, but once. Most of us understand this concept, but it requires intense application to remain disciplined.
Betting on markets that you normally wouldn’t: You’re stuck after a long day on the races, so you try your hand at the late-night trots, then dabble on the dogs, and before you know it, you’re loading up on Chinese handball. What are you doing? You know nothing about those markets, so leave them alone. Stop gambling!
Dealing with Downwings
Everyone goes through a rough trot. Everyone. It’s how you deal with it, that distinguishes winners from losers.
Confidence: It’s very easily to lose your confidence during a downswing and you start to doubt yourself and your ability. You need to have the confidence to pull the trigger, so if you are doubting yourself, try to reduce the size of your bets and stick with your strategies until confidence is restored.
Due for a big win: The concept of being “due” is flawed. No result is influence by previous outcomes, so don’t get caught up in the notion of thinking that the big win is right around the corner. Treat each bet as an independent outcome.
Taking advice: It’s important you trust in your own systems. If that means accepting tips and advice from a service like Before You Bet, then stick with it. If you like to pick your own winners, then stay focussed on that. Sometimes taking tips from too many sources can just lead to confusion and compound your problems.
The key factor is all of the above is remaining disciplined. Treat your sports betting professionally and success will follow.
