Learning how to bet money on sports events, the right way

How to bet over the Internet the right way to start winning money – we are going to bust all myths and disclose the secrets on the information you need to know about sports betting.

Anyone can place a bet, but not anyone can gain profits. In most cases, it’s initially driven by incorrect strategies.

What you have to know about betting

How bookmaker’s offices work

First, you have to learn the operation principle of bookmaking.

A bookmaker’s office always wins whatever the outcome is.

How do they manage to do it? Let’s illustrate it.

Suppose there is going to be a football match between FC Barcelona and LA Galaxy (well, why not? :D).

There are only 3 possible outcomes:

  1. FC Barcelona wins
  2. Draw match
  3. LA Galaxy wins

Bookmakers set the odds, which means that people make a forecast on the result of the match and predict the result of every outcome.

They calculate initial odds based on these forecasts.

100 / probability percentage

For example, we as bookmakers analysts believe that:
(We have to assign 100% between 3 outcomes)

OutcomeCalculating the odds
FC Barcelona wins – 40%Odds: 100/40 = 2.5
Draw match – 20%Odds: 100/20 = 5
LA Galaxy wins – 40%Odds: 100/40 = 2.5

Next step is collecting money from bettors. We collected $100 in total (to make this picture vivid you can add as many zeroes to the sum as you wish, while we operate with simpler numbers here).

Where:

Bet onMoney collected
FC Barcelona$40
Draw match$20
LA Galaxy$40

An attentive reader can see that the bookmaker is not going to win any money using these odds, because the payout regardless the outcome is the same $100 – all the money collected.

That’s why bookmakers spread 110%, not the fair 100%, thus underbetting the odds, which generally leads to this:

  • FC Barcelona – odds 2.4 (instead of 2.5)
  • Draw match – odds 4 (instead of 5)
  • LA Galaxy – odds 2.4 (instead of 2.5)

Let’s count the bookmaker’s vigorish for every outcome:

Event resultsBookmaker’s vigorish
FC Barcelona won$100 – ($40*2.4) = 100 – 96 = $4
Draw match$100 – ($20*4) = 100 – 80 = $20
LA Galaxy won$100 – ($40*2.4) = 100 – 96 = $4

In case you don’t believe this, here’s the screenshot illustrating the odds of a bookmaker’s office:

How to bet - right way

Let’s calculate the probability of each outcome (which is supposed to be 100%).

  • 100 / 1.47 = 68.0272%
  • 100 / 4.60 = 21.7391%
  • 100 / 5.80 = 17.2413%

68.0272% + 21.7391% + 17.2413% = 107,0076%

The profit is even bigger if you also reassign the odds so that the maximum vigorish is assigned to the most probable outcome. That’s why bookmakers constantly change the odds in the live process of betting, depending on the placed bets. The more bettors place their wagers on the winning outcome of a team, the less its odds are going to be.

For example, here are the odds for an event:

how to bet on sports

Here’s the same event 7 hours later:

how to bet on soccer

It means that the bookmaker got more money wagers on draw match and reassigned the odds not to come off a loser.

It’s important to know that there are traditional and low-margin bookmakers

Low-margin bookmakers

Originated from the term low margin such bookmakers gain profits on cash turnover (basically what we described above). They don’t care how much you bet and what you bet on, because in the end they are always in pocket. Professional bettors prefer working with bookmakers like these. Their margin is usually around 2%.

Cons: narrow scope of work – small number of possible outcomes provided

Pros: higher reliability rate

Traditional bookmakers

Internet search for traditional bookmakers will provide you with the following information:

  • Broad number of possible outcomes provided, including live betting
  • They win money on bettors losing
  • They don’t like professional bettors
  • Designed for amateurs
  • They cut off maximum gains for arbers and others

To be honest I never understood how they work, so if you get their winning principle, please, leave a comment.

How to not lose your money on betting

You realize that winning is not your top priority only after some time period. The first thing you have to learn is how to not lose, and to at least break even, when you start betting on sporting events.

According to unofficial statistics, 90% of bettors lose their money. The remaining 10% have stable income by pocketing the money of the 90%.

Read further to learn how to join the 10% of successful bettors

If you prepared yourself for some bright line rules, you shouldn’t have. There is no magic pill out there, but there are some basic rules that can help minimize risks.

  1. You should accept the fact that the money is already gone. Be ahead of the game and define your limits. Know what you are willing to lose. You will have to invest a lot of intellectual efforts and be hot upon a cause if you are truly set on winning bets. Yes, you got it right – the key word here is brain work.
  2. Emotions are your worst enemy. There are thousands of stories of bettors losing their deposits due to emotional betting. For example, you place your bet on Team 1 winning. Then after seeing them lose, you kick yourself and place another bet on Team 2 in live betting to break the fall. Finally, Team 1 wins, but you are already in the red. What a shame! Most preposterous bets are placed in the heat of the moment of an easy win or heavy defeat.
  3. Don’t stake everything. Set your max limit for a bet for 1-5% of your deposit and never go over the limit.
  4. Set your limit for the number of weekly bets. What do you need it for? Based on past experiences, I can say that people tend to chase their losses right away. Sticking to this rule will help you avoid some silly and hasty decision that leads to bankruptcy.
  5. Make a list of your own rules. Rules that you can’t break under any circumstances. Analyze the game. Update the list after every loss. Don’t get emotional. Always remind yourself that every time you violate your rules, you get closer to bankruptcy.

How to start winning money

So, here are the tips on how to start placing bets on sports events correctly. Passion for some sport, for example, football or hockey, is a big win in the plus column. Your sports enthusiasm is what makes you constantly analyze teams, transfers, starting lineup schemes and changes in game tactics. All that info is available for bookmakers as well, but for them it’s just their job, whereas in your case it has got to become your passion!

  1. Bet only if you know a hawk from a handsaw, pick a certain league and study it in great detail – monitor its leaderboard, teams’ physique, and what each player has for breakfast :D. Stay focused to become a pro in a narrow area of expertise.
  2. Think outside the box, analyze statistics. Blind support of your favorite team will not help you win money.

Sum up fundamental knowledge with betting strategies. You can find descriptions and examples of the strategies on this website.

Betting strategies

Many players, both pros and newbies, successfully use time proven strategies:

  • Martingale. Bets are placed on the same outcome (for example, on draw), until it actually wins.
  • Arbitrage. It uses the difference between the odds of several bookmakers.
  • Betting the middle. Bettors use spreads system.
  • Value betting. A bettor places bets only on higher bookmakers’ odds (jump bids).
  • Goal hunting. Used in play betting on total score in the case of a nil draw and firm belief that goals are coming (usually takes place with football matches).

This is just a short list of the strategies of single betting.

How to bet on sports events over the Internet

I suppose there is no need to give details on this matter (but if you do need the detailed info, please, leave a request as a comment here).

So, here are the milestones:

  • Picking a bookmaker’s office;
  • Registering;
  • Placing a bet on a chosen event.

P.S. Thanks, cap 😀

There is an important issue though: when registering, enter your real contact info.

Why? One of the cunning moves used by bookmakers is to refuse to release your winnings until you’ve provided a scan of your ID (passport). So forget about getting your money if you registered as John Doe.

Secondly, a case when a bookmaker’s website cannot be viewed.

This doesn’t mean that the bookmaker is banned. It’s highly likely that the website was blocked by your provider. This can be bypassed by using a VPN to gain access to the website (if you need detailed instructions on how to do it, please, leave a request as your comment here).

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