Betting is an exciting way to place your bets on sports and games. However, it is important to keep some rules in mind to ensure that you can maximize your profits.
1. Be Sober
The key to betting is to make sure that you are not going on a “tilt” and making decisions based on emotions. This is a common mistake that many bettors make and can result in losing their bankroll.
2. Always Keep a Record
One of the best things you can do to improve your betting is to keep a clear record of your bets and losses. This will allow you to see trends and spot good value bets.
3. Only Bet What You Can Afford to Lose
One great rule of thumb in betting is to risk only 1% to 5% of your total bankroll per game. This allows you to take advantage of smaller, more likely wins and makes your overall betting strategy much more profitable.
4. Avoid Exotic Parlays and Teasers
Parlays and teasers are very enticing to bettors because they pay out much more than a single straight bet. But they are also very difficult to hit.
5. Be Aware of Moneyline Bets
In a moneyline bet, the team that you want to win must win by a certain number of points. This is typically the spread, but it can also be a handicap or even a point spread.
This is a great betting strategy for those who like to back underdogs at lower odds, but it is also a common mistake that bettors make. This is because the bookies know that bettors are often more interested in backing the favorite at higher odds, and they will tend to offer less valuable odds on the underdog.