Best Sports Betting Strategies

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After working in the betting industry for now more than 10 years and with a background in sports betting from the inside and also from the outside as a professional bettor, we have put together a list of the best strategies in Sports Betting for all, beginners, occasional and professional bettors.

Sports Betting Strategies for Beginners

1. Beat the bookies with Odds Calculators

Leveraging odds calculators is a savvy strategy for bettors aiming to outsmart bookmakers and enhance their betting efficiency. By inputting the odds and stakes, users can instantly see the value of potential bets, helping them to identify undervalued opportunities and avoid overpriced ones. This not only streamlines the betting process but also empowers bettors to make more informed decisions, compare odds across different sportsbooks, and optimize their betting strategies. In the competitive realm of sports betting, where every edge counts, using an odds calculator can be a game-changer, enabling bettors to maximize their chances of profitability and beat the bookies at their own game.

2. Focus on One Sport Only

So the first thing we’re going to do, we are going to take it one sport at a time. People try to develop strategies for basketball, football, and hockey, all at the same time. Then they’re paying attention to one, not paying attention to the other.

Before you know it, they’re all over the place and none of it is successful. Now here’s the thing, when you are looking at one certain sport, that is all you are going to be paying attention to. Because if you do not put all your effort into that one sport, you’re not going to give it your all just on that one thing.

3. Choose Your Bet Type Wisely

The third thing you need to choose is what type of bet you’re going to be trying to make a strategy around that certain sport. Is it going to be a moneyline bet? Is it going to be a spread, a total, or player props?

If it’s player props, all you’re going to do is worry about developing a strategy for player props. If it’s money lines, all you’re doing is looking at money lines. You’re not doing all of them, because you’re gonna get sidetracked

This decision is crucial because it narrows your focus, allowing you to specialize further and avoid the common pitfall of spreading your attention too thin.

4. Shop Around for the Best Odds

The cornerstone of successful betting is ensuring you’re getting the best possible value for your wagers. In a market saturated with sportsbooks, loyalty to a single bookmaker can be a costly mistake. Savvy bettors know the importance of comparing odds and betting sites across multiple platforms to secure the best prices and promotions. This approach is crucial in a competitive environment like Canada’s, where numerous legal betting options are available.

5. Keep Track of Your Sources

A successful betting strategy relies heavily on data and analysis. It’s essential to document every source of information you use, along with backups for each. Websites and data sources can change or disappear, leaving you stranded if you’re not prepared. Maintaining a detailed log ensures continuity in your strategy development process, even if your primary sources become unavailable.

6. Implement a Unit Size System

Financial discipline is key to betting success. Establishing a unit size system for your bets allows you to maintain consistency and measure profitability accurately. Changing unit sizes haphazardly can skew your assessment of a strategy’s effectiveness. It’s advisable to stick with a predetermined unit size for a set period, such as a month, before making any adjustments. This approach aids in tracking performance and ensuring that your betting strategy remains grounded in logic rather than emotion.

7. Filter Through the Noise

In the age of information overload, discerning valuable insights from mere noise is a critical skill. Historical data can often be misleading if not contextualized with current dynamics such as team compositions and coaching strategies. Canadians are encouraged to focus on relevant statistics and reliable sources that enhance their understanding of the bets they’re considering.

8. Play to Your Strengths

The allure of betting on every game is strong but misguided. Specializing in particular areas, such as specific teams, types of bets, or sports, can significantly increase your chances of success. This focused approach allows bettors to leverage their in-depth knowledge and insights, making each wager more informed.

9. Make the Most of Promotions

Promotions and sportsbook bonuses are double-edged swords in the betting world. While they can offer substantial benefits, understanding their terms is crucial to avoid pitfalls. Canadians should look for promotions that genuinely enhance their betting value without compromising on the odds.

10. Timing is Everything in NFL Betting

The NFL’s tight lines mean that early bets often secure the best value. For Canadian bettors looking at the NFL, acting swiftly on Sunday nights or early Monday can be the difference between a good and a great bet.

11. Understand the Importance of Key Numbers

Football betting, in particular, revolves around key numbers like 3 and 7. Securing these can be crucial, and shopping around for the best line or even buying a half-point can be worth the effort.

12. To Hedge or Not to Hedge

Hedging is a personal choice, often debated among bettors. While it can reduce potential profits, securing a guaranteed win in certain situations might align better with a bettor’s risk tolerance, especially in a parlay situation.

13. Keep Parlays Short

The temptation of large payouts from long parlays is undeniable, but sticking to three or four selections increases the chances of winning. This disciplined approach is particularly relevant in Canada’s diverse sports betting landscape, where options abound.

14. Be Wary of Teasers

Teasers offer the illusion of advantage, but only specific situations, such as the Wong teaser, genuinely offer long-term profitability. Canadian bettors are advised to approach these bets with caution.

15. Track and Analyze Your Results

Perhaps the most critical aspect of strategy development is diligent tracking and analysis. A strategy must be tested over a significant period—at least a year—to accurately gauge its profitability. Short-term wins can be misleading; only through sustained performance can you determine the true value of your strategy. This step also prepares you for the reality that not all strategies will be successful. However, the knowledge gained from tracking both winning and losing strategies is invaluable for refining your approach and identifying profitable avenues for future exploration.

Sports Betting Strategies for Professional Bettors

These strategies span from leveraging the home-field advantage in betting on underdogs to sophisticated systems and formulas for calculating optimal stakes. Here’s an organized breakdown:

1. Double Chance on Home Underdogs

Betting on the home team to win or draw, known as the “1X” strategy, capitalizes on the underdog’s motivation when playing on familiar turf against a favorite. This approach doesn’t require betting against top teams but suggests finding value in matchups where the home team, despite being the underdog, has a realistic chance to secure a win or a draw, offering odds between 1.60 to 2.50. Critical to this strategy is the analysis of team form, injuries, and recent performances.

2. All-in Strategy on Low Odds

A high-risk, high-reward strategy involves betting the maximum stake on successive bets with odds around 1.20. The goal is to accumulate winnings by betting on highly likely outcomes, such as a game not ending in a 0-0 draw, especially appealing in live betting scenarios. This strategy requires a patient approach and acceptance of the inherent risk of losing the entire stake with a single loss.

3. The 1-3-2-6 Betting System

Inspired by the Paroli system, the 1-3-2-6 strategy focuses on following a specific betting sequence after each win, resetting to the initial bet after a loss or completing the cycle. This system is simple and aims to maximize wins during a winning streak without compounding losses after a defeat.

4. Fibonacci Betting System

This controversial method involves increasing bets according to the Fibonacci sequence after each loss, focusing on draws with odds above 2.62. It’s a strategy that requires a timely win to recoup losses and turn a profit, emphasizing the need for disciplined bankroll management.

5. The Kelly Criterion

A mathematical formula designed to calculate the optimal stake based on the bettor’s perceived probability of an event and the odds offered. This approach aims to maximize bankroll growth while minimizing the risk of ruin, but it heavily depends on accurate probability assessment.

5. Dutching

Dutching involves spreading your stake across multiple selections within the same event to ensure a profit regardless of which selection wins. It’s particularly useful in events with multiple outcomes and relies on accurate calculations to distribute stakes proportionally based on the odds.

6. Early Cashout

This feature allows bettors to withdraw a bet before the event concludes, either to secure a profit or minimize a loss. It’s a strategy that offers control and flexibility, especially in situations where the outcome becomes uncertain.

7. Live Betting on Over 1.5 Goals

Focusing on live games expected to be high-scoring, bettors wait for odds to become favorable before placing bets on over 1.5 goals. This requires patience and the ability to quickly assess the unfolding game dynamics for timely bets.

8. Specialization

By focusing on a specific league or sport, bettors can gain in-depth knowledge and insights, leading to more informed and strategic bets. This approach advocates for quality over quantity in betting selections.

9. Money Race Strategy

A compounding strategy where all winnings from a bet are placed on the next bet, targeting a series of wins with low odds to accumulate significant profits. It emphasizes disciplined selection and bankroll management.

10. Betting on Draws

Identifying matches where a draw is a likely outcome can offer value, as odds for draws are generally attractive. This strategy involves detailed analysis to spot matchups where teams are evenly matched.

11. Betting on Late Goals

Targeting games with clear favorites for late goals can be profitable, especially when betting on goals to be scored in the final minutes. It requires understanding team tactics and fitness levels.

13. Cup Games Betting

Cup matches, where underdogs face favorites, can offer unique betting opportunities. Analysis of team motivations, lineup changes, and historical performance in cup competitions is crucial.

14. Live Betting

Live betting adds excitement and offers opportunities to capitalize on game developments in real-time. Successful live betting requires quick thinking, analysis, and the ability to stay disciplined under pressure.