When it comes to betting on sports you have a potentially dangerous combination of emotions and betting your hard-earned money. The trick to sports gambling is to understand that if you want to make money, you need to take a long-term approach.
There are times as a gambler when everything goes right and there are times when nothing works out. This is inevitable for all gamblers. But what separates the winners from the losers is how they deal with the highs and the lows.
We explain some basics so you can gamble long with your money and how to avoid pitfalls in your quest to make money.
Do: Get a bankroll
Creating a bankroll is probably the most important thing you can do to make sure you don’t get into financial trouble. It ensures that those losses of €10 – €20 don’t pile up to hundreds of euros. It just has to stay fun.
Your bankroll is an amount you set aside specifically for gambling. Make sure (and I can’t stress this enough) that you only put in an amount that won’t cause problems if you don’t win. Also, always adjust the size of your bets according to your bankroll. If your bankroll gets smaller, make your bets smaller too. This way you keep everything under control and it stays fun. With a predetermined budget as your bankroll, it is also clear how you stand after a number of bets. Always nice to know.
Don’t: Place bets with your heart
Nobody likes to bet against your favorite team or your favorite player. Still, in all cases, try to let go of emotion or club love when placing bets. Emotional betting has defeated even the most level-headed bettors among us. If you can’t get your heart out of it, keep your money out of it.
Do: Take advantage of different bonuses
Bookmakers are businesses like any other, they like to compete with each other. Whether it’s a deposit bonus, welcome bonus or free credit to use in their offerings, online bookmakers are always trying to convince you to gamble with them.
Not only is it a good idea to take advantage of a particular bookmaker’s offer, but it’s even smarter to take advantage of different offers at different bookmakers! You’ll find that the “free” money is usually reserved for new customers, so you’ll have to sign up at several online casinos to take advantage of different bonuses.
Here you can place sports bets
bet365
bet365
100% betting credit up to €100
BetCity
20€ Free Bet with your first deposit
Bingoal
100% bonus up to €250 + 100% Odds Boost
More about sports betting
Bet on Football
Bet on Max Verstappen
Betting on horses
Betting on tennis
Don’t: Chasing losses
Bet on Football
Bet on Max Verstappen
Betting on horses
Betting on tennis
Don’t: Chasing losses
This is a simple but very important piece of advice. If you think rationally, it makes sense, but gambling is often done in an irrational way and with emotion. This is where the bookies take advantage.
You will have some down moments where your bankroll will run out after a few bad luck times in a row. The worst thing you can do is try to make up all your losses at once. For example, if you lose a €20 bet three times, don’t try to turn your fourth bet into a €60 bet in the hopes of making up for the losses.
The reason chasing losses is so dangerous is that very fast can happen. After a few losses in a row, you tend to become impatient and not think clearly. This is what you really need to guard against. Keep thinking calmly, then you have the best chance of getting back on a winning streak.
Suppose you lose that €60 bet I mentioned earlier – now you’ve lost €120. What’s next, a €120 bet to make up for it? If you’ve lost four in a row, you’re going to win, right …? No that’s not how it works.
Try to keep playing calmly. Nobody likes to end the day with a loss, but €50 down is a lot better than €200 down.
Conclusion
If you want to earn a little money from your weekend hobby, then these tips are very important. They are the basics that almost every sports gambler agrees with.
If you stick to them, no big profits are guaranteed yet, but they will ensure that you don’t go far into the minus. Remember, bookies make their money primarily from uninformed gamblers. Make sure you are one!
Stick to your bankroll, do your research and if in doubt, don’t bet.