In the realm of online sports betting, people might think that being a fan of the sport is enough to give them an edge at winning. Yet, this is not always the case. Sports betting is not just about guessing who will win – but also knowing how to choose the bets you place, playing strategically according to the odds to reap the best rewards.
Needless to say, online sports betting is risky business. But if you love to play it for that occasional thrill, and you don’t want to lose too much money doing it, here are some ways you can minimise your risks – and maximise those wins!
1. Build a bankroll and stick with it
The problem with most people who go into online sports betting without a proper strategy is that they keep on making deposit after deposit, leading to a cycle of financial losses. The best way to avoid doing this is to stick to an initial deposit amount and work on taking low-risk bets with maximum profit potential first.
At this stage, it doesn’t matter how much money you’re making with your bets. What’s important is that you’re making money, regardless of how small it is. Because of this, you’ll eventually build a sizable bankroll and enough of a financial cushion that you wouldn’t need to make an additional deposit in case you find yourself with a string of losses once you start taking riskier bets using your profit.
As a general guide, refrain from betting more than 2-5% of your bankroll every time. This way, you not only save your bankroll if you start losing, but you also save your confidence.
2. Stay away from multiples
Many fall prey to multiplied odds because they look good on paper. It is easy to be tempted by the prospects of winning big, but you have to realise that the inverse is also true: multiplied odds means it is harder to win.
Dangling attractive carrots is a common tactic employed by casinos. If it looks too good to be true, it’s probably going to be near-impossible to win. So, don’t bank on these to give you handsome returns. Instead, focus on games where you have a better likelihood of winning.
3. Choose your bet wisely
It sounds like common sense, but many people forget this. The most common mistake of rookie sports bettors is betting on hot favourites with high winning odds. However, you have to think of why bookmakers set the odds so high – they probably think it is unlikely for that team to win. So, instead of going with the crowd, it is crucial to do your own research of the game and make what you think is the most likely outcome.
Yet others approach betting with their ‘intuition’ and ‘lucky teams’. While you may have a favourite team, it is never wise to ignore research and blindly bet on your team to win – especially if you know they are probably no match for that powerhouse they are up against.
4. Long-term profit beats short-term winnings
If you want to see your bankroll grow with sports betting, it is vital to adopt a long-term perspective. Starting with small bets may not seem like much, but it also ensures you don’t lose much. As you work on refining your strategies, those winnings will gradually become more frequent, growing your account in time to come.
Keep away from the ‘all-out’ mentality, as it could wipe out your whole wallet in one shot. Instead, always bet about 2-5% of your bankroll at a time – this ensures you have plenty of room to make mistakes and still not burn a deep hole in your pocket.
It might sound difficult at first, but minimising your risks at sports betting is totally possible! Instead of thinking of these as restrictions, think of it as prolonging the opportunities you have to continue playing and enjoying the excitement of online sports betting. Finally, it goes without saying that placing your bets with a trusted online casino is also a key factor in safe sports betting. Look no further than iClub88 – we have plenty of sports as well as e-sports games you can bet on, all conveniently hosted on our online casino website.