Top 7 Winning Strategies to Succeed in Sports Betting

Sports Betting is a word that you hear and instantly picture the roaring crowds and the thrill and excitement you experience until the final results are out. Sports betting is an experience in itself, where you can bet on your favorite teams, the newcomers try out their beginner's luck, and the gurus patiently wait for their perfectly calculated outcome to be the final verdict. All this makes sports betting one of the most sought-after games to bet upon.

But before you bet, there are many things to study meticulously. The first is to know the game you're betting on thoroughly. And the next thing is to understand the sports betting strategies through and through. That is exactly what this blog is about. Discover the 7 top sports betting strategies for successful wins and reduced losses.

• 1. Martingale Strategy

  

  The Martingale strategy is a straightforward but risky approach. The method is based on doubling your bet every time you lose. This is because Martingale works on the idea that you'll cover all your losses and make a profit when you eventually win. However, this strategy has a major setback because it requires you to have unlimited funds and assumes that losing streaks are pretty uncommon.

  While it can offer short-term gains, it's vital to be super cautious, as extended losing streaks could be heavy on your pockets. For instance, let's say you start by betting ₹10 on Team A to win. If Team A loses, according to the Martingale strategy, you'd double your next bet to ₹20. The logic is that when Team A eventually wins, you'll recover the ₹10 you lost and make a ₹10 profit.

• 2. Kelly Criterion

  

  The Kelly Criterion is a mathematical formula designed to help bettors determine the optimal amount to wager based on their perceived edge and the odds offered. You need to be more technical to understand, right? Let's simplify this. Kelly Criterion is a strategy that helps you decide exactly how much to bet. But this, too, is based on how confident you are in your prediction. Even so, this strategy prevents you from going all-in on risky bets and maximizes your potential profits in the long run.

  Let's say you are pretty sure your favorite team is winning, so you bet a higher percentage of your funds. But you bet a lesser percentage if you think anything could happen in this match and you're unsure of the outcome.

  The formula is: f* = (bp - q) / b

  • f* is the optimal fraction of the bankroll to bet
  • b is the odds on the bet received (decimal odds)
  • p is the winning probability
  • q is the probability of losing, which is equal to 1 - p

• 3. Arbitrage Betting

  

  Arbitrage betting profits from the differences in odds offered by different bookmakers for the same game. Simply put, you bet on all the possible outcomes the bookmakers provide and guarantee yourself a profit regardless of the final result. Sounds like easy money, right? Don't get fooled by this. Arbitrage opportunities are quite rare and require you to act swiftly to place bets before the odds adjust and the arbitrage window closes.

  Imagine a Tennis match where Bookmaker A offers odds of 2.0 for Player 1 to win, while Bookmaker B provides odds of 2.2 for Player 2 to win. By placing calculated bets on both players at these different odds, you create a scenario where your total stake is lower than the potential winnings from either outcome. This ensures a profit regardless of who wins the match.

• 4. Value Betting

  

  Unlike the other strategies where you bet on the event's outcome, Value betting is about finding a good bargain on the bets where you think the event is undervalued. Value betting focuses on finding wagers where the bookmaker's odds are higher than your estimated probability of a result occurring. To accurately calculate these probabilities, you should rigorously research and thoroughly understand the sport. This strategy is beneficial over the long run.

  For example, you visit a flea market and spot a rare comic book many book collectors would love. However, the seller isn't aware of its true value and offers it for ₹100. You know that this comic book is worth at least ₹1000 to collectors. Recognizing this price discrepancy, you snatch it up, knowing you're getting a good bargain.

• 5. Handicapping

  

  Before randomly betting on a game's outcome, conduct in-depth research and understand the game thoroughly. While doing so, you must consider all the in-game and external factors that could influence the game's final outcome. Handicapping is exactly that. This strategy analyzes team performance, player injuries, historical data, and weather conditions.

  Let's say you're handicapping a soccer match between Team A and Team B. You analyze recent team performance, player injuries, historical interactions, and weather conditions. And you discover that Team A excels in rainy conditions and that Team B struggles to play away from home. Considering such repeated patterns, you can make informed decisions and lower your chances of losing your bets.

• 6. Regression Analysis

  

  Like Handicapping, regression analysis also requires you to research historical data and study various variables to predict the possible outcome of the game. However, regression analysis has an additional aspect. It is data-driven and is more statistical than Handicapping. It helps to identify repeated patterns and relationships within the data. You can then create models that can give you insights into future outcomes. While this strategy is more complex and requires analytical skills, it can be highly effective in certain situations.

  For instance, when looking at a cricket team's One Day International performance, by checking their batting averages, boundary hits, and more, you can use regression analysis to find a connection between a player's batting average and how often they hit boundaries.

• 7. Fading the Public

  

  Fading the public strategy involves betting against the majority sentiment. It's based on the idea that public opinion can be influenced by emotions and biases, leading to predictable errors in judgment. This also means you'll gain huge profits if you bet against public opinion and win. However, it's important to note that this strategy doesn't always guarantee success. Public sentiment can sometimes accurately predict outcomes, which means you risk losing all your money. What's the fun in gambling if there's no risk?

  Imagine everyone at a football match is cheering for Team A to win because they're the favorite. If you choose Team B, the underdog to be on, you're "fading the public." It's about going against popular opinion and taking a calculated risk for potentially higher rewards when everyone else is on the other side.