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Home Field Advantage Benefits

Does Home Field Advantage Make a Difference

With home field advantage being a crucial thing to take into consideration when betting on any sport, there’s certainly many reasons why this can give you some great profits.

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Obviously playing in familiar surrounds gives the home side a huge advantage, for they know the ins and outs of the surface and feel extremely comfortable in front of their home crowd. In addition, the home crowd’s noise level and size can really spur their team on and help their performance reach an extra level. An intriguing thing that bettors need to research is that when a team moves into a new stadium how it usually takes them a while to hit their stride.

Courtesy-of-PinnacleCourtesy of Pinnacle

The fact the home side doesn’t need to travel is a big positive too, for the impact of traveling can have a detrimental effect on performance when parlayed with playing in an unfamiliar environment.

Courtesy of LineupsCourtesy of Lineups

Weather conditions can also give home teams the edge, especially in situations when the visiting team have to travel to a team that’s home ground is at a high altitude.

Interestingly, a study came to the conclusion that home teams can often benefit from favourable refereeing decisions such as getting more penalties and the away side getting more red cards too.

Courtesy of Advanced Football AnalyticsCourtesy of Advanced Football Analytics

A key thing to consider whenever you’re placing your bets, home team advantage can definitely give you the upper hand, as there can be so many factors that give the home team an edge.

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Three Betting mistakes to avoid

Three Betting Mistakes To Avoid

Whenever you begin your journey into the world of sports betting, there’s some mistakes you’ll want to avoid making if you’re to give yourself a shot of being a success. Here are three crucial errors you’ll want to avoid.

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  • Not using a bank management plan

One of the easiest mistakes many people fall into is not using a bank management plan. If not implemented, punters can quickly fall into many bad habits such as going big on certain events and chasing your losses.

Having a sound bank management plan adds structure and discipline to your wagering, thus allowing you to make coherent choices so you don’t run down your bankroll rapidly and bet beyond your means. Using a bankroll management system from the beginning will also put you on the path of getting into good habits and realising why this is such an important thing to utilise.

Betting Mistakes To Avoid

Courtesy of Sports Insights

Ensuring you remain in control and exercise sound judgement, a staking plan is a must for any bettor.

  • Chasing your losses

An extremely common mistake that most bettors have committed is chasing your losses. Usually occurring immediately after a bet is lost, this is definitely something you’ll want to avoid as most of the time you’ll just bet on the next event in an attempt to regain the money you’ve lost. Inherently, this will lead to a poor decision and one that will ultimately end in another loss, which only compounds issues for you.

Betting Mistakes To Avoid

Courtesy of Sporting Charts

By using a bank management plan (as mentioned above), this is a much better way to go about your betting and is a simple solution to avoid falling into the trap of chasing your losses.

  • Not searching for the best odds 

Taking your time to thoroughly search around for the best odds is definitely a worthwhile thing to do. After all, with so many bookmakers fighting for your business, it makes perfect sense to see which outlets are offering you the best odds in order to maximise your profits.

This usually means opening up accounts with different bookies, which can be a tiresome process, but something that’s undoubtedly worth doing in the long run.

Betting Mistakes To Avoid

Courtesy of Sporting Charts

Another piece of information to take on board is to keep checking odds and don’t settle on bookies that have served you well in the past, for your aim should be to make the most possible when staking your hard earned money.

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Clean Sheet Betting Explained

Clean Sheet Betting Explained – What Does it Mean?

While clean sheet betting is not the first market that springs to mind when thinking about sports betting, it’s unquestionably an avenue worth exploring.

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Also applicable to sports like ice hockey, where it’s called a shutout, this method of wagering can be quite fruitful if you undertake your due diligence.

Clean Sheet BettingCourtesy of Reddit

How to Start Clean Sheet Betting

Before placing any bets, it’s important to support your potential selections with some research. A great place to begin with is by looking at any injuries or suspensions to key personnel that can impact the probability of a team keeping a clean sheet. Checking current form and recent historical data between two opponents is also worth investigating to see if any usable data can be found. Observing home and away form can also give you an edge.

Clean Sheet BettingCourtesy of Fantasy Bet

Taking a deeper dive into some detailed statistics can serve you well too, for this allows you to check on things like goals per game, shots per game, chances created and conceded per game, expected goals for and against per game and how many clean sheets the team you’re looking at has actually kept.

Clean Sheet BettingCourtesy of Average Opposition

Observing the styles certain teams deploy should be used to investigate how attacking or defensive they are, which can play a crucial role in seeing how well equipped they are to keep clean sheets and hold out their opposition.

Simple to use and very accessible, if you’re willing to spend the time to patiently and thoroughly explore all the factors that can influence your wager, this market is definitely worthwhile looking into.

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Betting tips for beginners

Five Betting Tips For Beginners

If you’re new to the world of betting and are keen to familiarise yourself with some useful information, there are some important things to be aware of.

Trying to be a profitable punter? Check out our guide to becoming a professional sports bettor.

Below are five key points for beginners to look out for

Learning the ins and outs

Although it doesn’t sound as fun as jumping straight into your betting, taking the time to learn all the fundamentals is a must. This will allow you to get up to speed with all the terms, different markets, different bet types and everything you need to know before you stake your hard-earned money.

With so much to digest and take in, it’s crucial you undertake this process thoroughly, so you can gain all the necessary knowledge to hold you in good stead to know precisely what you’re doing. In addition, by coming to terms with all this information, this will quickly determine how committed you are to becoming a success.

Using a bankroll management strategy 

Managing your bankroll is an absolutely integral component for any bettor. After all, if you want to be a profitable bettor who makes coherent decisions, this is a must so you stick to your principles and don’t exercise poor judgement.

Another reason why you should be considered in your approach is so you avoid betting beyond your means, as you don’t want to use money allocated for other aspects of your daily life.

Whether using a fixed or variable staking plan, remaining in control and disciplined are vital guidelines to follow. By doing so, you’ll know exactly how much to stake on each bet, which should, in turn, ensure you’ll have a strong future as a gambler.

Stick to sports you know

While it can be easy to bet on any sport due to the plethora of options available out there, it’s wise to stick to the sports you love and know. This will allow using your knowledge to give you an edge, as you’ll be able to call on your strong information reserves.

Moreover, it’s always more beneficial when researching your selections if you’re actually interested in the sport you’re wagering on.

Keep records

Keeping records is a fantastic idea, for this will allow you to track all your wins and losses so you can continually monitor your progress. You’ll subsequently be able to analyse what you’re doing right and where you’re going wrong to draw conclusions to better yourself.

The best way to do this is by using a betting spreadsheet, which provides you with everything you need to track all the important details. While a brilliant thing, it’s useless if you don’t put in every bet and use it properly. With this in mind, if you’re diligent and serious about honing your craft, the positives of record-keeping can be huge.

Choose the right bookmaker for you

Once you feel ready to start betting, finding the right bookmaker for you is a key piece of the puzzle. Because of the tremendous amount of bookies available to choose from, you’ll find you’ll have no shortage of options. Despite this being a good thing, it can also be a problem as you’re spoilt for chance, thus making it hard for you to narrow it down.

Doing some research will help you see what’s best for you, meaning you can see which one appeals to you most. Some vital things to look out for are what special offers or programs are available? What restrictions are there for withdrawal and deposit options? Is their help network user-friendly? Is their interface easy to navigate? Do they offer live streaming options? Can you bet in-play? And obviously which ones are the most trustworthy and reliable?

While it can be an exhaustive process settling on the right option for you, this is a must so you can rest easy knowing you’re dealing with a bookmaker that will enhance your betting experience.

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professional sports bettor

Things to Know Before Becoming a Professional Bettor

While being a professional sports bettor sounds like a fantastic way to make a living, the reality is that it’s far from easy to turn your hobby into a career.

But if you’re dedicated to the craft, are intelligent in your decision-making process and love what you’re doing, there’s no reason you can’t make a good fist of it.

What to Do Before Trying to become a Professional Bettor?

To start with, managing your bankroll is an integral component, as you need to ensure you have a set of principles and follow them fiercely. It’s all good and well to have a plan, but you must implement it at all times and not veer away from it, as this can create poor habits that will hinder your chances of sustaining your professional gambling status.

professional sports bettorCourtesy of smart sport stats

After all, every bet is essentially an investment and can have an impact on whether you’re a success or not, so you need to be wise and strict with yourself.

Being extremely knowledgeable about your chosen sports is a must to accompany the afore. This subsequently means you’ll have your own information to call upon, which can be very insightful and useful. In addition to this, undertaking research using statistics, historical data, news surrounding your selections and by watching games can be hugely beneficial.

professional sports bettorCourtesy of Betat

Providing yourself with as much usable information will quickly become a vital element of your analysis of your picks, as you need to be informed before putting any money down.

Betting systems: Fibonacci. D’Alembert.

Once you’ve identified a selection you like that represents value and looks a winner, you need to have the confidence to go with it, as trusting yourself and betting with conviction will allow you to take advantage of excellent opportunities to profit.

professional sports bettor

Courtesy of Footy Data

As you gain more confidence and establish yourself, if you’ve diligently recorded all your bets, this will serve as a wonderful tool for you to spot trends and so you can see what’s working for you and what isn’t. Moreover, you’ll also be able to analyse how much profit you’re making through shrewd record keeping. It’s also a good way to remain disciplined and so you stick to your staking principles.

Before going full time, practicing and refining your skills is a great idea to see if you believe turning professional is the right move for you.

While it’s not as straightforward as it looks becoming a pro, if you put in the work and have an unyielding commitment to ensure you make coherent decisions, for the right person it can be an excellent career choice.

Make the most of your sports fancies with this professional sports bettor guide, switch with VOdds NOW!

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Fibonacci Betting System Explained

The Fibonacci System (How It’s Used for Betting)

Following on the theme of covering betting systems, the next topic in this series will focus on the Fibonacci betting system.

Based on the mathematical model, this strategy has been transferred over into many forms of gambling. For the purposes of this article, however, we’ll hone our attention in on soccer.

Being another form of negative progressive betting, the Fibonacci sees you increase your stake when you lose just like the D’Alembert systems and Labouchere systems. The key difference is that you add the losing stakes of your previous two bets together to give you the stake for your next bet. The graphics below provide a fine example of this, with a key piece of information being when you win you go back to your original stake.

Fibonacci System, Courtesy of Baccarat System

Courtesy of Baccarat System

Some punters use soccer head-to-head betting and some prefer to only bet on draws, but whatever you choose, it’s best to begin with small stakes, especially if you’re learning the ropes. This will subsequently allow you to handle losing streaks so your bankroll doesn’t get decimated during a bad run. Many wagerers recommend only betting on markets that are even paying bets or above, so you can maximise your earnings.

Fibonacci System, Courtesy of MyBookie

Courtesy of MyBookie

Although there’s definitely a chance you’ll enjoy some great wins, this strategy can be very hard to sustain and is one that will be tough to be successful at in the long run.

One of VOdds’ partners in Pinnacle actually posted a nice article on the Fibonacci. In their summary of the system and its application to soccer, they depicted it aptly, stating: “As with other progressive betting systems such as the Labouchere system, the ideas work perfectly when provided with an unlimited bankroll and unlimited limits. When real-world constraints are considered, however, Fibonacci succumbs to the same fate as all real-world betting – the unknown.”

Fibonacci System, Courtesy of BaccaratCourtesy of Baccarat

Upon keeping all of the aforementioned in mind and considering it carefully, while the Fibonacci can be a fun system and okay to use a portion of your bankroll on, it’s probably not the wisest move to go all in on, for a bad losing run can quickly crush your bankroll.

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D'Alembert Betting Theory Explained

D’Alembert Betting Theory Explained

One of the easiest to understand and most straightforward betting systems, the D’Alembert system offers punters an interesting way to go about their wagering.

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The way this form of negative progression betting works is by increasing your stake if you lose your bet and decreasing your stake if you win. Before getting started you need to decide what your starting betting amount will be. This figure should be somewhere between 2% and 5% of your bankroll. Once you’ve determined your starting point, you’re good to go.

D'Alembert Betting Theory, Courtesy of Betting Expert

Courtesy of Betting Expert

Using an example is the best way to explain how this system works. Say if you start with a $20 bet and you lose, you then increase the stake of your next bet by one staking unit up to $40. If another loss occurs, you’ll then move up to $60, as this process continues until you win.

D'Alembert Betting Theory, Courtesy of Winning Strategies

Courtesy of Winning Strategies

When you win your bet, the rule is that you then decrease your stake one unit, with one unit obviously being the lowest bet possible, which should allow you to start profiting with two consecutive wins if losses are suffered.

D'Alembert Betting Theory, Courtesy of Super Big WinCourtesy of Super Big Win

The fact it gradually increases the stake allows you more chances to recover from losing streaks, but there’s still some flaws attached to this system. The main reason caution needs to be taken when applying this system is that if you go on a horrendous losing streak, your bankroll will be in ruins and in a state that you won’t be able to recover it.

So while this popular and simple to use plan is fun and can be profitable, it’s quite difficult to enjoy long term success, for a severe losing streak has the potential to decimate your bankroll quickly if things don’t go your way.

Start trading the right way and log in to your sports betting account. Register now if you don’t have one yet and be on your way to becoming a successful punter.

unit system when betting

Unit System When Betting

The term ‘unit’ in the sports betting world is typically used to determine the outlay for your bet. This is used to describe the amount you’re betting on any given wager, with the amount changing depending on certain factors.

Trying to be a profitable punter? Check out our guide to becoming a professional sports bettor.

Betting Systems: Unit System

This is subsequently a great way for gamblers to have structure and to exercise discipline when betting, so they’re betting strategically and not without direction. While it varies depending on the person, the recommended amount to use on a bet is somewhere between 1-5% of your bankroll.

Courtesy of Stake Hunters

Many bettors will up the number of units they bet on a particular wager depending on the confidence they have in the selection being a winner. It’s important when you start out that you just stake 1% of your bankroll while you’re getting used to the world of betting. This will also ensure you gain an insight into how important it is to remain disciplined and how vital searching for value is. Once comfortable, you can then begin progressing to betting extra units.

Courtesy of Bet Stories

Units, when used as part of a sound record keeping system, are a great way to work out profit and loss without needing to use dollars as the metric. Moreover, betting in units, in combination with a coherent bankroll management scheme, allows you to protect yourself from losing streaks, for you’re able to monitor your progress closely and make amendments.

Courtesy of the Philly Godfather

All things considered, operating in units is an excellent way to help punters remain organised and to ensure intelligence is used in their bankroll management, which should serve as the foundation for a successful and profitable betting journey.

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How to be a professional sports bettor

How to Be a Professional Sports Bettor

Picture yourself lounging around your house, watching your favourite sport, and you’re earning a huge amount of money. Sounds like a dream, right? But little do most people know, it is an actual job, and it’s the reality of a professional sports bettor.

Amateur vs. Professional Sports Bettors

Since we’re talking about reality, the truth about sports betting is that there’s a very small percentage of bettors who are actual full-time professionals. There’s also a smaller percentage of them making a great amount of money out of it.

Meanwhile, most people who try to be professional will fail because most of them are amateurs just looking for a good time.

So, if you want to become a professional sports bettor, you have to know the difference between an amateur and a professional.

For starters, amateurs don’t take the serious technical approach that the industry needs to thrive. They bet on hunches or feelings — mostly driven by a favourite player or team. Amateurs will want to bet because of the pleasure and entertainment they get from the act of betting itself.

Professionals, however, take a systematic approach to sports betting. It’s business for them and they treat it that way. Furthermore, they don’t rely on gut feeling — they place bets based on statistics and skills.

Related: Benefits of Using a Betting Spreadsheet

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“How Can I Become a Professional Sports Bettor?”

Easy there, eager beaver. You really want to become a professional sports bettor, huh? Well, if you’re dedicated to the craft, are intelligent in your decision-making process and love what you’re doing, there’s no reason you can’t make a good fist of it.

However, there are things to consider before you start your career in this field.

After all, every bet is essentially an investment and can have an impact on whether you’re a success or not, so you need to be wise and strict with yourself.

Think of it as a business

To start with, managing your bankroll is an integral component, as you need to ensure you have a set of principles and follow them fiercely. It’s all good and well to have a plan, but you must implement it at all times and make sure to not veer away from it. Otherwise, this can create poor habits that will hinder your chances of sustaining your professional betting status.

Providing yourself with as much usable information will quickly become a vital element of your analysis of your picks, as you need to be informed before putting any money down.

Statistics on a laptop

As a result, treating your betting as a business will make you sharper about where you put your money and what risks come with it. On top of that, you gain the ability to analyse whether or not a risk is worth taking the plunge.

Understanding the value of information

Being extremely knowledgeable about your chosen sport — or sports — is a must to accompany the afore. This subsequently means you’ll have your own information to call upon, which can be very insightful and useful.

Hence, as a professional sports bettor, you take advantage of all the information that you can get your hands on.

Whether news breaks that a certain valuable player gets injured days before his match, or looking at previous match records like, for example, if a team or player having a high standing last season goes up against someone from below the top 5.

Undertaking research using statistics, historical data, news surrounding your selections and by watching games can be beneficial to step up your game.

Confidence is key

You read that right.

Confidence is key to a lot of things, even to sports betting. One of the main reasons why bettors do not win as much as they want is sometimes psychological. When you doubt yourself, you start to lose confidence. Lack of confidence puts sheer pressure which leads to poor decision-making.

And do you know what happens next? You start to lose and it can inevitably turn into an excruciating cycle.

Once you’ve identified a selection you like that represents value and looks a winner, you need to have the confidence to go with it. You need to believe in your skills. Betting with conviction will allow you to take advantage of excellent opportunities to profit.

Recognize your strengths and weaknesses

As you establish yourself and build your confidence, diligently record all your bets — both wins and losses — as this will serve as a wonderful tool for you to spot trends and see what’s working for you and what isn’t.

a man preparing to lift a heavy weight

On top of that, you’ll also be able to analyse how much profit you’re making through shrewd record-keeping. This allows you to have unbiased decision-making whenever you look at information about the best odds range that you succeed in.

Say you have enough data to see whether or not you gain profit from placing bets on handicaps, and see that you’re losing money on it. Hence, you find a weak point where you can choose to improve on or not bet on — both of which can help you decrease risks of losing.

Have the right skillset

Having the right skill set in sports betting means to equip yourself with betting strategies that can help you win more wagers. For now, we’ll run you through some of the most common betting strategies that you can apply to your new career as a professional sports bettor.

One-Sport One-Team

This strategy is best used if you’re still starting as a bettor. One-Team One-Sport is exactly what it is — you pick one sport and one team, and gain a deeper knowledge about its ins and outs. Through this, you get to save time spent on researching teams, matches, or rules, since you only have to focus on one.

Low-Risk Betting

In low-risk betting, you only place 1% or 2% of your bankroll into each match that you wish to bet on. This provides a lower risk of financial ruin that you’re probably not prepared for when you’re still starting as a punter.

If you have, for example, just £100 in your bankroll, then you might need to bet a little higher than 2% to meet the minimum bet of bookies. However, that will most likely only be around £20, which is still not much of a loss if ever you don’t win a few bets.

Betting Systems

Betting systems are patterns in betting that you follow when you encounter winning or losing streaks. An example of the most common systems is called the Labouchere, which you can read more about by visiting our blog.

One downside to betting systems, however, is that you need to invest a lot of time researching so that you don’t lose money trying to experiment.

Must Read: Full-time or Half-time Bet? Which One Is Better?

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How to Avoid Being a “Mug Punter”

A Mug Punter is something that you wouldn’t want to be associated with, and definitely not the type of bettor you want to be called. These are people who do the opposite of what professional sports bettors do and, hence, have greater chances of losing wagers and/or have mediocre wins.

So, what makes a mug punter? Here are the common mistakes that you should avoid.

Trusting too much

There are tonnes of supportive punters all over the internet that can help you grow as a bettor. So, naturally, it’s good to seek advice from these people, especially if they have a proven track record.

However, one mistake that you can make as a newbie punter is to rely too much on other people’s advice. It can be tempting, especially when people from communities feed you with details about why a match is a “sure-win.” Unfortunately, not every tip you come across is true. Worst comes to worst, you come across a scamdicapper and get persuaded enough to wager every penny you have in your bankroll.

One thing that you should keep in mind is that these people have no control over the games. So, whatever promise of guaranteed wins they give you, there is still a chance that they could be wrong. Moreover, should you choose to take their advice, know that you can’t hold it against them.

Hence, the only person that you can really trust is yourself, so it’s good to develop your confidence first before placing big bets. You can start with reading match previews from trustworthy sources and see how they analyse a match. After that, you can gather more information to see if their recommendations are reasonable or credible.

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Trying to be a Jack-of-all-trades, but never a master

One of the biggest mistakes — if not the biggest — that most rookie punters make is trying to master every sport that they can bet on.

Keep in mind that there are numerous sports and betting strategies out there, and you can’t learn them all. A real, professional sports bettor focuses on mastering one sport and learning the best betting strategy that works with their chosen sport.

Trying to learn everything at once can only make you a so-so (at most) in each sport and strategy you are trying to learn. If you want to be a professional, you have to be a master. So, focus and try to apply the “One-Sport One-Team” strategy that we mentioned earlier, and work your way from there.

Not Trusting Value Bets

Value bets are wagers that you place on odds that you believe to be the most feasible win, based on probability, statistics and other supporting information. Therefore, these are the type of bets that you should be making.

Mug punters don’t see the worth of value bets because they think it tedious to conduct thorough research on the details of a match. They put their trust on gut feeling, so it’s either they go with what the crowd sees as a “100% win” or bet on their favourite team.

Since value bets basically mean relying on your knowledge about a specific sport, you have to be unbiased when gathering information about a match, probabilities and odds. One of the biggest mistakes that you can make is having a biased opinion about the outcome of a game, and looking for information to support your bias.

Overreacting to Recent Stats or Trends

man covering his face

We can’t emphasize it enough that you should always gather enough data before placing a bet. Now, where your research can go wrong is when you overreact to recent trends.

Say a particular team has been doing great in the previous season or games, that doesn’t mean that you should instantly place a bet on their win on the next match. Don’t overestimate wins and winning streaks, and don’t underrate teams that come off from a loss.

Unrealistic Expectations

Mug punters are in perpetual thought that if they get lucky enough, they can get instantly rich when one of their bets turn out to be a win. However, that will lead to nothing but more losses, disappointments, or worse, debts.

The first thing you need to do is to work on strategies to break even. Develop that skill and work your way into getting more wins through smart bets. A realistic figure that you can use as a goal is to win between 52% to 55% of your total bets. Anything above that, and you can now consider yourself as a profitable sports bettor.

Finding the Right Bookmaker

With the growing popularity of sports betting, you can find literally hundreds of thousands of bookmakers online. However, just like succeeding in this field as well as mastering a skill, finding the right bookmaker can be just as hard. It takes time and a great amount of research to find one that suits you.

In finding the right bookmaker, you will have to start asking questions like ‘what markets do these bookies offer?’ ‘what’s so unique about this bookmaker?’ ‘do they have any restrictions?’ and lastly, ‘is this trustworthy and reliable?’

One of the most important aspects of becoming a professional sports bettor is using a bookmaker that consistently offers the best odds.

man holding binoculars

Furthermore, just like in casinos, there are some bookmakers that block or restrict your account when you get too good and win too often. So, if you want to be successful in betting, you need to find a bookmaker that welcomes winners and won’t restrict or limit anyone that makes money from betting.

Aside from finding a bookmaker that is suitable for you, you can also opt for sportsbooks aggregators. Now, what is a sportsbook aggregator?

A lot of bettors tend to create multiple accounts in various bookmakers in order to compare the best possible odds for their sports bets. With a sportsbooks aggregator, you would not have to register for numerous accounts because they give you a list of the best odds and highest limits from a variety of bookmakers.

Moreover, some aggregators, like the VOdds sports trading platform, allow you to place bets, make withdrawals and deposits, directly from their platform.

Want more betting tips? Check out these other interesting related articles:

It’s Not a Cakewalk, but It Can Be Rewarding

Before going full time, practising and refining your skills is a great idea to see if you believe turning professional is the right move for you.

While it’s not as straightforward as it looks becoming a pro, if you put in the work and have an unyielding commitment to ensuring you make coherent decisions, for the right person it can be an excellent career choice.

discover the smarter way to bet here at vodds

Bankroll Management Sports Betting VOdds Trading Resources

Why is Bankroll Management Important in Sports Betting?

Remaining disciplined and effectively managing your betting bankroll is a key component towards the success and sustainability of any bettor.

Once you’ve found a value selection and are keen to go ahead with your bet, knowing how much to bet is vital, for this is hugely important in gambling responsibly so you have a clear idea of what you’re willing to risk. After all, you don’t want to bet beyond your means and risk losing money that needs to be allocated for other aspects of your life.

Trying to be a profitable punter? Check out our guide to becoming a professional sports bettor.

Importance of Bankroll Management

Effectively managing your bankroll subsequently allows you to gain some control in your wagering, so you don’t fall into bad habits like chasing your losses and overstaking. Moreover, you’ll also find you’ll be able to handle losses and exercise better judgement in your selections.

Bankroll Management Sports Betting Courtesy of Stake HuntersCourtesy of Stake Hunters

When starting out, it’s a good idea to start with a bankroll of somewhere between 100 and 50 units and only bet in small amounts (between 1% and 2% of your bankroll) as you learn the ins and outs and familiarise yourself with bankroll management.

Must Read: How to find value in sports betting?

Delving deeper into staking strategies, and these can essentially be divided into two categories – fixed and variable. Fixed plans are the simplest to understand, which makes them best for beginners. These typically fall into level and percentage staking, with level meaning you stake the same amount on each bet and percentage staking seeing you bet the same set amount of your current bankroll for each wager.

Bankroll Management Sports Betting Courtesy of PinnacleCourtesy of Pinnacle

Moving onto variable methods and these are more complicated, with them adhering to certain parameters like confidence level and potential return. One high profile system that gets differing reviews, but has its merits, is the Kelly Criterion. This formula basically encourages you to bet more depending on how great the value is, but it’s up to the bettor to accurately determine outcomes.

Bankroll Management Sports Betting Courtesy of Betfair Trading Mind GamesCourtesy of Betfair Trading Mind Games

Seeing as the Kelly method has seen many amendments over time, the Fractional Kelly approach is considered a sound choice, where you only bet a fraction of the recommended bet. Despite inherently reducing your potential winnings, evidence has suggested that this is a strong long term option, as it takes into account the odds on offer, the probability of your selection bearing fruit and the subsequent value identified while not using a large portion of your bankroll.

Read: How Asian handicap works in basketball?

While the principles of having a staking plan are one thing, sticking to them can be a challenge. But if you are disciplined, understand the significance of bankroll management and stay in control, you’ll find betting much less stressful and enjoy it much more. And crucially enhance your chances of winning.

Put your new-found bankroll management skill to test.

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