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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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Finding Value in Sports Betting VOdds Trading Resources

Finding Value in Sports Betting

Finding, recognising and understanding the value in sports betting is an integral component towards finding success.

While it can be quite the challenge to find value due to the betting companies possessing so many tools and methods to give them an edge, there’s still ways to even the playing field.

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

How to find value in sports betting?

Defining a value pick is basically where the chance of an event occurring is greater than the odds attached to it. Inherently, finding value is easier said than done, especially in sports where many factors can impact the outcome of matches, but if you do your research, have a fantastic knowledge of whatever you’re betting on and develop your value spotting capacity you’ll be on your way to making profit.

Courtesy of Football Data

Courtesy of Football Data

This will often lead you down the path of how useful backing underdogs can be, as these less fancied teams or players can often be underrated for their potential for victory. So if the conditions are in place where an upset appears on the cards, and it represents value, you should have faith in your selection and back yourself.

Moreover, if you specialise in a certain sport, your ability to spot this type of value, and value in general, will obviously enhance, thus increasing your chances of winning. Having a sound knowledge of lower leagues and lesser known markets can therefore hold you in good stead to spot some value, as certain details may not be taken into account by some bookies.

Courtesy of Rebel BettingCourtesy of Rebel Betting

One tactic that’s very beneficial but extremely time consuming can be to look at the upcoming matches of your chosen sport and formulate your own odds on selections that appeal to you and see how they stack up against the bookmakers’ odds. This then gives you an idea of what you’d be prepared to bet on and if you think it has a strong probability of occurring. You can then refer back to the given odds and see if any value is present. It’s then worthwhile to review and analyse your results to see what conclusions to draw that could potentially end up helping you in the long run.

Courtesy of Football Data 2

Courtesy of Football Data

Although this seems like a draining exercise, there’s no doubting what a useful tool this can be for you if you’re willing to dedicate time and effort into doing it right.

Seeing as obtaining value is a key foundation towards determining if you’ll be a successful bettor, it’s an area that should always be explored if you’re serious about being profitable. While it may seem daunting in the beginning, if you’re patient, persistent, have confidence in yourself, don’t get deterred by losses and do your due diligence, there’s every reason to suggest you’ll be a competent value finder before too long.

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Benefits of Using a Betting Spreadsheet

Benefits of Using a Betting Spreadsheet

Keeping records of all your bets is always a good idea so you can closely monitor your wins and losses, plus to identify any trends that may eventuate over time. This consequently allows you to recognise where your strengths lie and where improvement is needed.

While it can appear over the top and unnecessary to record every single bet on a spreadsheet to many, the positives attached to this can be huge if you’re diligent and serious about being successful.

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

Why use a Betting Spreadsheet?

Recording your bets also gives you an idea of what your overall win percentage is and presents you with the information you need in terms of managing your bankroll and sticking to your principles. Seeing as losing track of your wagers can often lead you down the path of betting more than you should be, entering everything on your spreadsheet prevents you from losing discipline and falling into bad habits.

VOdds Benefits of Using a Betting Spreadsheet 1

Another crucial element this gives you is that you can properly analyse your bets in an easily readable format, thus meaning you can see what type of bet you placed, on what sport, at what odds and even gives you scope to note down the reason behind your selection. This subsequently allows you to evaluate regularly how you’re going and notice if you need to make any adjustments to any aspects of your selections.

Gaining vital conclusions can be very important towards your success in the long run, so you can recalibrate your selections and avoid repeatedly making mistakes. To give further detail to your spreadsheet, you can even write down factors why you lost or won certain bets, as you never know when this information could come in handy in the future.

VOdds Benefits of Using a Betting Spreadsheet 2

Once you’ve gotten into the groove and have a strong sample size to look at, this is when you should really begin to see the benefits of your record-keeping and how successful you are. One excellent metric to use for measuring how you’re travelling is looking at your return on investment, which will alert you to the percentage of return you are winning on the amount you are betting.

Maintaining your honesty is an additional thing you need to consider, for it’s no use omitting bad losses from your spreadsheet to make your overall figures look better, as this defeats the purpose of using this tool efficiently.

All in all, if you’re serious about winning, astute at spotting patterns and dedicated to persistently updating your records, there’s every reason to suggest using a spreadsheet will enable you to gain an edge on your way to becoming a successful bettor.

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How to Spot a “Scamdicapper”

A scamdicapper is a term referring to a sports handicapping service that profits off you and scam you out of your money. Some common practices of dishonest handicapping services are to claim unusual winning percentages, go under several names or pseudonyms, or even call and pester you until you purchase their picks. Scammers can be found everywhere and even more so in the world of internet.

It can also delay your goals of becoming successful in the field.

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

Fortunately, this type of scammers is easy to spot.  If you’re serious about making a profit in sports betting, you have to look for reliable sports handicapping service and avoid the scamdicappers. In this article, VOdds sports trading platform compiled a list of characteristics scamdicappers usually have in common in order for you to quickly spot them.

Traits of a Scamdicapper

Living a high-roller lifestyle

Real handicappers do not want to attract the wrong kind of attention to them. If you see advertisements or marketing strategies that feature a huge amount of cash, or living a lavish lifestyle, there’s a high possibility that this service isn’t spending their time working to provide his clients with the best possible bets. Legitimate handicappers work hard because that’s what it takes to win in the betting industry.

Advertising only recent win-loss records

No verifiable or available win/loss records? This is a definite red flag that screams ‘scam.’ Flaunting only recent win and loss records is a lack of accountability and transparency. Legit handicappers with nothing to hide will be eager to promote their record of lifetime wins and losses. Unless a service and provide an accurate and legitimate records over a long period of time, they should be avoided at all costs.

Also, if a service has a few losing records, but have more winning records should also be worth the consideration. Always take note that it’s better to trust a sports handicapper that admits to bad streak and losing records.

Pressuring clients to immediately buying or upgrading their picks

Any clues of hard-selling should definitely throw you off. You should also beware of the usual question scammers ask which is, ‘how much do you usually bet?’ Scamdicappers ask this kind of question because they usually charge a larger fee to bettors who bet high. Legitimate handicapping services will find this question irrelevant because they will charge the same fee regardless of the amount of bets.

Another related tactic scammers use is when they pressure clients to immediately upgrade their betting package. You can also hear too good to be true claims from them. The above-mentioned signs are just three of the most easily noticeable traits.

Trying to find out the kind of handicapping service you’re dealing with involves a lot of investigation and research on your part. Go for the sure one! 

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Use of Statistical Data in Betting

With so many valuable tools out there to assist in helping you make well-informed betting selections, using statistical data is definitely an important piece of the puzzle. But with so many factors at play and things to consider when betting on sports, finding the most crucial information to apply is key.

Although undertaking your research takes time and dedication, it’s definitely worthwhile arming yourself as with as much information and knowledge as possible to enhance the quality of your choices.

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

What’s the use of statistical data in sports betting?

Using statistics, the aim is to essentially predict outcomes that have a high probability of happening but still represent good value.

There are many ways and avenues to go about gathering your stats. To start with, you can utilise a large number of websites and blogs to find some brilliantly detailed information on your chosen sport, which can give you plenty of insight. Depending on what you’re looking for, the above is a fantastic resource to usually find both past and present data, which is vital in identifying trends and gaining an edge.

Value Statistics Sports Betting Courtesy of Soccer ScienceCourtesy of Soccer Science

You can also undertake your own analysis using some more in-depth strategies. One such method is called probability distributions, which seeks to find the likelihood of many different possible outcomes occurring. Within this category, you can apply things like the Bayesian analysis method, that encourages the testing of new information against your original selection to refine how likely it is that it will occur in light of this evidence.

Another approach that can be of benefit is Poisson distribution, that is a mathematical concept for translating mean averages into a probability for variable outcomes across a distribution. This come in handy for low scoring sports like soccer and for things like NFL player prop bets, as it can help you in markets such as individual and the team over/unders.

Value Statistics Sports Betting Courtessy of Anna Bet BlogCourtesy of Anna Bet Blog

Regression analysis is a commonly used tool also, with this working by you determining a set of processes to figure out the correlation between a dependent variable and one or more independent variables. This is applied so you can uncover factors that play a role in teams or players winning that aren’t obvious to sportsbooks or the public, thus giving you a head start finding value.

Value Statistics Sports Betting Courtesy of Soccer Science 2Courtesy of Soccer Science

Seeing as betting companies use statistics heavily to formulate their odds, doing your own advanced research can definitely help close the gap for you to increase your chances of success.

Despite the obvious advantages of numbers, it is, however, still important to not solely rely on this and discard your other knowledge. After all, you want to continue to take into account factors such as injuries, weather conditions, styles of the teams playing against each other and recent head to head records.

Value Statistics Sports Betting Courtesy of Intelligent Betting TipsCourtesy of Intelligent Betting Tips

Even though applying statistical data has its limitations just as with most resources, the use of this is unquestionably a nice weapon to have in your armoury if you’re serious about winning.

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What to Look for in a Good Bookie

Choosing a bookmaker is an important thing to consider before you begin your adventure in the world of betting, so it’s vital to undertake your due diligence before settling on your chosen provider.

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

With so many outlets fighting for your business, it’s unquestionably an extremely competitive arena, which can definitely work in punters’ favour. On the other hand, however, this can also make finding the right one for you quite a challenging proposition. Therefore, knowing what you’re after in your bookmaker is a good place to start, as some are more suitable than others depending on what sports you’re betting on.

Things to look for in a good bookmaker

Looking at things like independent betting reviews, rankings, betting blogs and even asking questions are all good ways to get the ball rolling nicely.

Then you’ll want to start asking some questions like what markets are on offer and how detailed are your options within these? What special offers or programs are available? Is their help network user-friendly? Are there any restrictions on withdrawal and deposit options? And obviously which ones are the most trustworthy and reliable?

Things to look for in a good bookie SBOBET interfaceSBOBET interface

With many providing some really cool features like live streaming on specific events, vast in-play staking options, early cash out options, money back specials and various promotions, doing your research is vital to have your demands met.

As you begin to explore the many bookmakers on offer, you’ll quickly begin to narrow down some potential outlets that fit the bill for you. But before signing up, it’s always a decent idea to check out how the website interfaces are and which ones are the simplest and most efficient to use if possible. After all, having a platform that has an easy-to-use bet slip, is smooth to navigate and performs without fuss is always a plus.

Things to look for in a good bookie SBOBET BetslipSBOBET Betslip

With so many bonus bets and reward programs on offer when you sign up, choosing the right one can be tough, so before locking into anything just make sure to read the terms and conditions of these so you don’t lose out and pick the wrong option for you.

Checking some other factors like who has the most attractive odds, how quickly they payout, and taking note if any extra fees exist should round out finalising your analysis of who to choose.

Things to look for in a good bookie SBOBET DetailsSBOBET Details

If there is, however, more than one bookmaker you’re interested in and for example you like what Pinnacle Sports, Sbobet and Maxbet are all bringing to the table, it’s actually a sound idea to create accounts with more than one outlet, as this can ensure you can get the best of what you’re looking for.

While it appears like an easy choice on the surface, undertaking some research into which bookmaker to choose is a crucial part of the process in determining what’s right for you, so you’re completely aware of everything you need to know before getting started.

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Benefits of Research in Betting

Whatever sport you choose to bet on, researching your selections is a crucial part of the process. With events often decided by fine margins and factors such as injuries, home and away form, travel times, cumulative fatigue and pitch conditions, arming yourself with as much information as possible can be a huge benefit.

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

Why is Research Important in Betting?

Typically, the more research and time you can put into it, the better it will be for you.

The bookmakers clearly have huge amounts of data at their fingerprints, so by doing your own due diligence, you can use this to bridge the gap and find value while heightening your chances of success in your selections.

Insight

Keeping up to date with the news surrounding the teams or individuals you plan to bet on is a good place to start, for this will usually give you some vital insights into certain elements. Moreover, obtaining information from forums, blogs and specific betting sites can help you with this type of surface knowledge.

Assuming you have an understanding of the event you are staking on, things like knowing playing styles of certain teams and how they match up can be vital too. So purely observing and watching plenty of matches can be a strong source of research to accompany any figures and data.

Essential Data

The next step would be to look at some basic form guides and get a gauge of the recent performances for whatever your potential selection may be. After scouring over the aforementioned, diving deeper into some detailed statistics is then an excellent idea.

This can give you some key indicators on aspects like average goals per game, shots per game, defensive fragility, number of cards, how teams have fared against elite teams and their past history vs. their next opponent. With many fantastic, in-depth analysis websites around on a multitude of sports to enhance your investigations, these can help you bring meaning to the numbers and identify some clear patterns.

Derbies are important to be aware of too, for in sports like soccer they can tend to be physical, feisty and low on goals. So looking into less navigated markets such as cards and fouls can be useful in making astute choices.

Compiling data on a range of topics should also lead you to find some value in such markets like Asian Handicaps and points spread betting, as picking clear winners will customarily represent poor value and not offer as much earning potential.

Whilst undertaking your research and referring it back to the odds, you should hopefully begin to find some real value. Key to any success is obviously having the capacity to interpret your findings and use this to your advantage, as examining correlations and trends within any sport should lead you to success if done correctly.

Obviously the research process can be a very time consuming one, but if the craft is carefully honed, executed meticulously and methodically, it’s certainly worth the effort, for you can quickly transform yourself into an efficient, profitable operator.

Although it seems like a daunting prospect to undertake in the beginning, once you’ve put your plans into practice and stick to your system, your knowledge and chances of winning will unquestionably increase.

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Why Should You Keep Track of Your Betting Records?

Any serious bettor tends to keep track of their records. Recreational bettors should also start having one. While it’s not the most enjoyable thing to do, keeping accurate and organised records of your bets and properly evaluating them is one of the keys to success in the industry.

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

Importance of keeping track of your betting history.

Track your profits and losses

A lot of bettors, especially those who bet only for leisure, don’t really know how much they are winning or losing with complete accuracy. You might think this doesn’t matter but it’s actually a good idea to have a clear picture of how much you’re earning or losing.

Maybe you’re losing more money than you think. It’s common for punters to only remember the times they won and forget the times they lost. Losing is not necessarily a problem if you’re losing the money you can afford to lose.

Maybe you’re losing less than you think and could actually become more profitable with a little more work. However, it’s still important to know precisely how much you’re gaining or losing, and keeping records can help you do that.

Finding strengths and weaknesses

Many punters bet on multiple sports and/or multiple events. They also have a habit of placing different kinds of bets. There’s actually nothing wrong in doing these; however, if you’re not keeping track of your bets, you might not have a clue what your strengths and weaknesses are.

It’s possible to bet on multiple sports. You can also be good on one or two particular events but not so well on the others. Being aware of your strengths and weaknesses can give you an advantage since it will improve your overall outcome.

You have to give your attention to the areas where you are strong though. If you focus your efforts on betting on the sports you’re most successful with, and stop betting on the sports you’re least profitable, you should see an increase in your winnings, or reduce losses.

Then again, you can also improve on your weakest areas. If you’re not doing well in some of your bets, look through your results and analyse the mistakes you’re doing.

Create new strategies

Keeping track of your records can also be used to analyse your strategies and improve on them. If you were able to consistently win using one strategy, then obviously you will want to continue with it. If an approach doesn’t seem to help you win your bets, at least you’ll know where you can improve.

Keeping tracks of your methods is a way for you to know which one is working out great for you. By keeping track of your betting history, you’ll get a clearer idea of what you’re doing right and where you’re going wrong.

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

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Is Betting on Multiple Sports Good or Bad?

Betting on a single sport lets you focus all your time and energy in mastering everything about it. Having mastered one can also increase your chances of winning consistently. The problem is most sports aren’t played all year round. However, you shouldn’t look at other sports just because you’re bored and the sport you specialises in isn’t available.

Should You Bet On Multiple Sports?

Although betting on multiple sports gives you a lot of opportunities to win, it also means there’s a greater possibility of losing more. Additionally, you should always keep in mind that winning comes from a lot of factors.

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

The importance of betting on one sport gives you time to learn everything about it. If you can’t consistently win on one, why would betting on multiple sports be any different? There’s actually nothing wrong with betting on multiple sports if you already mastered every aspect of it. However, always remember that any sport requires a lot of effort, research, dedication, and time.

The bottom line in becoming a successful bettor is you have to first find the sport where you can get an edge. Becoming a successful sports bettor in one sport is the best way to discover if you can be profitable in the other. Once you grasp how to win your bets consistently, you can now ponder adding other sports to place your stakes on.

Furthermore, you should always take in mind that as long as you’re willing to commit and do the same load of work on your next sport while keeping your edge on the first, there’s no reason why you can’t be a winner in multiple events.

Which sport do you want to place your bets on? Log in to your account and place your stakes on one of the available sports in the platform! Create an account now if you don’t have one yet and experience the fun of sports trading.

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Stop Doing These Sports Betting Mistakes

Sports betting is somewhat a complicated activity. In this industry, mistakes are inevitable and these slip-ups will definitely cost you some money. Don’t let these mistakes hinder you from experiencing the joy of betting though. Just make your failures as part of your learning process.

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

Don’t think that these mistakes will be avoided as soon as you gain some experiences though. Always remember that even the most successful sports bettors still commit their own errors. If each fault you make is a new one, then that’s a sign that you’re making progress.

Five of the most common sports betting mistakes you should be aware of

Do you place bets without doing enough research?

The basic foundation of a successful sports betting is research. When it comes to sports betting, you can never do too much research. Every bet you make should always be well-thought of and thoroughly researched in order to come up with better judgment. When you do research, even beginners could immediately get themselves up to speed in order for them to make better-informed decisions when betting on sports.

Do you bet on sports you aren’t knowledgeable or familiar with?

Of course betting on more than one sport can help you maximise your chances of winning. However, it’s important to first master one sport before adding another so that you’ll be able to familiarise yourself well with its terms, rules, and etc. Bettors, especially beginners, need to focus on one sport first especially to avoid confusion. Placing bets on sports you aren’t well-acquainted with can most likely be the cause of failures.

Do you always rely on the information you get from others?

Every sports bettors hopes to find reliable sources of inside information to help them get the advantage over sportsbooks.  This mistake can cause you to falter in making a good judgment since you’ll be accepting inside information without examining the source. You can never be too sure if your information is reliable and accurate.

Before you accept information from others, take a minute to consider why they are sharing this info with you. Though there are great betting communities out there with many skilled and knowledgeable bettors, always be wary about the information you receive even if some data are just too tempting to resist.

Do you have unrealistic expectations?

It’s important to have a realistic mindset when it comes to sports betting. If you’re doing it with the hope of earning a massive amount of money in just a short period of time, you’re already doing it wrong. Yes, you can earn money through betting on sports. However, it takes patience and a lot of hard work before you can be a successful punter.

Sports betting is not easy. Even professional punters still lose their wagers every now and then. Very few people are able to make an insane amount of money. It is best if you go into sports betting with the intention of having fun while also being aware to you could win or lose money in the process.

Are you using the right betting site?

The easiest and the most convenient way to place bets these days is over the internet. However, it’s essential for every bettor to use the right betting site in order to make profitable bets. A lot of punters usually make the mistake of just creating an account with the first site they can find.

Most sites are reasonably good and safe to use. There are also a few unreliable sites on the internet though. It’s risky to register in an unfamiliar site when you have no idea whether they’re reputable or trustworthy.  With this, you should consider placing your bets on a reliable sportsbooks aggregator like the VOdds sports trading platform to ensure safe, one-of-a-kind, and pleasant betting transactions.

Always take in mind that learning from your mistakes is the best way to avoid them in the future! Experience a next level sports betting when you register with VOdds! You can log in now if you already have an account.

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