If you are a novice punter or have entered the game just now, you might not be aware of the fact that sports’ betting is one area where a significant amount of money is spent every year. In fact, the total money spent on betting around the world every year can be more than the Gross Domestic Products (GDPs) of some countries combined.
This means that among these betting enthusiasts are people of all levels, expertise and betting skill. You will find amateurs trying to understand the game, occasional punters, one-timers and seasoned punters who have been in the game for years.
These professional bettors are the ones most look up to as they manage to score big bucks, putting money strategically on different sports throughout the year. You will find them at football games, horse racing, rugby and even chess. Their years’ worth of experience equips them with the right skills and intuition to make profitable bets.
If you are one of the aspirants and want to become proficient at Australia’s favourite time-pass activities, the following professional tips will be able to guide you to an extent. But before we jump right ahead, you need to remember that these tips are here to help you improve your skills only. How well they are able to help you depends on the way you integrate and implement them into your betting routine.
Be Disciplined
You will find that many professional punters advise novices to be disciplined and restricted on how many and what events they place bets on. Instead of betting on something just because it’s there, try to find a race or sport that you actually want to bet on, stick to it and avoid over-betting.
Don’t Chase Losses
Since betting is somewhat a game of chances, there will be times where you lose a bet you were sure of winning. Self-control at this moment is crucial here. Avoid chasing your losses on the same event as there will be others coming up in the near future.
Consider the Odds
Betting is mainly about putting your money on outcomes that are more likely to happen than what the odds suggest. Ask any professional punter and they will tell you to look for odds that are more likely to happen than just betting on who you think will win the event.
Bet on a Sport You Know
This is incredibly important because when you understand the ins and outs of a sport, you are in a better place to find odds. You will find that most professional punters around the world master in a few sports and gain an in-depth knowledge about them to beat the market. Instead of going out on a limb to bet on a sport you don’t care for, look for betting promotions on one you know everything about.
Consider the Bigger Picture
One of the most common mistakes punter make is investing too much time and focus on irrelevant factors and making an entangled mess of complex information. The trick is to create a balance between thinking of the bigger picture and considering the stats. While ignoring the stats and patterns is a mistake, understanding our own bias in how we interpret them is more practical.
See the bigger picture and try to avoid skewed factors influence your choices.
Bonus Tip
Regardless of what sport you are betting on, don’t accept a value less than what you have invested. You can accept more, but try to work a price on the actual chance in percentage terms and stick to it.
These tips are among some of the most basic ones that will set you off on the right track into becoming a seasoned punter.