Applying the right betting strategies is crucial for long-term success in the gambling industry. Given the lack of knowledge on this topic, our guide will reveal how to improve your chances through structured betting systems.
Betting involves an element of uncertainty. As a result, these strategies cannot guarantee complete success. Yet, all betting strategies in this guide can significantly improve your odds of landing wins.
Use any of our carefully researched strategies to improve your chances of winning. Learn more as you read on.
Basic Bet Types and Strategies
Starting with the fundamentals is a smart approach to growing in any field, and betting is no exception. With that in mind, we will reveal basic types and strategies to equip you for long-term success.
Single Bet
This bet type is the best fit for proper bankroll management. With this option, you make just one bet. Let's use a real-world example. Imagine an upcoming Premier League clash between Liverpool and Manchester City. You can choose the team you believe will win with a single bet. If you pick Manchester City, and they emerge victorious, your bet is a winner. Usually, wins are small. However, using the bet type allows you to manage losses more effectively.
Accumulator Bet
Accumulator bets allow you to wager on the outcome of multiple events simultaneously. If all your selections come true, the accumulator could pay out a high payout. If a selection fails, the accumulator collapses. As an example, you can pick three bet options to form an accumulator bet:
- Manchester City to beat Arsenal. (Selection 1)
- Chelsea to beat Newcastle. (Selection 2)
- Brighton to beat Luton. (Selection 3)
If your favored teams win, you win your bet. However, if one selection fails, the bet is lost.
Advanced Betting Strategies
Once you master the basics, the next step is to move to advanced betting strategies. Some strategies that fall under this category include:
System Bet
A system bet lets you combine multiple accumulator bets into one wager. System bets offer a balance between risk and reward. You get to predict the outcome of sporting events and win despite suffering one or two misses.
As an example, you can opt for a system bet involving four football teams to win their games. The system then creates four separate three-team accumulators:
- Chelsea, Barcelona, and Ajax
- Chelsea, Barcelona, and Porto
- Chelsea, Ajax, and Porto
- Barcelona, Ajax, and Porto
As long as at least three of your four mini accumulators are correct, you will win part of the accumulator.
Sure Bet
These bets are low-risk with small payouts. They appear when bookmakers are in disagreement on the occurrence of an event. For example, Bet365 offers odds (2.00) on heads for a coin toss, and 22Bet offers 2.10 on tails.
- You can bet $10 on heads at Bet365 for a potential return of $20.
- You can also bet $9.52 on tails at 22Bet for a potential return of $19.04.
You will profit from sure bets regardless of the event outcome. To discover sure bet options, create different sportsbook accounts and compare odds on events.
Arbitrage
This style involves wagering on all possible outcomes of an event. For example, you can stake on a football team winning, drawing, or losing, thereby locking down one assured win situation. This strategy only pans out when using multiple bookmakers with different odds. To ensure profit, you should go for the most profitable bookmakers.
Hedging
This betting strategy differs from Arbitrage. It does not involve two or more bookmakers. For example, If you bet on Liverpool to win and it seems they will not, you can hedge by betting on their opponent Arsenal to win or draw. This way, you can recover a percentage of your impending loss.
Mathematical Betting Strategies
Math strategies are known for their reliability in delivering high rewards at low risks. Some popular examples include:
D’Alembert System
The key is to place different bet amounts throughout a session. The D’Alembert system helps you to get small wins without risking high bets. The rule is to increase the bet amount by 1 unit after a loss and decrease after a win.
Using that principle, If your base unit is $20, you must increase by one unit and place a $40 after a loss. If your bet is successful, you must reduce it by one unit and stake $20 on your next bet.
Fibonacci
First adopted by Edward Thorp in 1961, this strategy aligns slightly with the D’Alembert system. Instead of doubling stakes after losses, you increase them using the Fibonacci sequence. The principle is that your new bet will be the sum of the last two, just like the Fibonacci numbers.
In simpler terms, you follow this sequence 1, 1, 2, 3, 5, 8, 13, 21, 34, 55… and continue with the sum of the last two numbers. You follow this trend until you exhaust your bankroll or hit your preset profit limit.
Paroli
Your goal should be to have an edge over the house. Paroli does not give any edge despite being a less risky strategy than Martingale and Fibonacci. You increase stakes based on this sequence: 1-3-2-6.
Imagine you have a starting bankroll of $800 and decide to use the Paroli system with a minimum bet amount of $10. Here's how it would play out:
- First Bet: You place your initial wager of $10.
- Winning Bet: If your first bet is successful, the Paroli system suggests increasing your next bet by three times your initial bet.
- Increased Stake: Following the system, your next bet would be $30 ($10 initial bet x 3). Subsequent bets will follow the 1:3:2:6 sequence.
Ensure you set a win limit, and when you hit it, start over. If you lose before reaching the limit, you must begin again from the original stake.
Betting Strategies that Work
Although these systems are not foolproof, they offer strong foundations for long-term profitability. The strategies also help in damage control by limiting losses to a minimum. They include:
Bankroll Management
You should choose a bankroll that fits your pocket size and stick to it. Be sure you can let go of this amount anytime without batting an eyelid. Let bankroll value decide your wagers. Try placing 1% of the bankroll for standard bets or up to 5% for high-value bets.
Specialise
We advise you to stick to leagues or sports types they know. Stop spreading yourself too thin on bet picks. If you cannot avoid bias, stay away from your favourite teams. Your winning chances increase when you stake on familiar sports, leagues, and teams.
Early Cashouts
You can control your fate with this payout option and improve your bankroll. Cash out your wins if you are on track to winning your bets if you feel uneasy about the outcomes. You can choose to stake on a more reliable pick with your cashout.
Dutching
Dutching allows you to wager on multiple outcomes within a single sporting event. The aim is to distribute your stake strategically across these selections so that you earn a similar profit regardless of the final result (assuming one of your bets wins). This strategy works best when the odds for all your chosen outcomes are relatively low.
Here's how it would apply to a game between Manchester City vs Arsenal:
- Identify multiple outcomes: Manchester City to win, the match to end in a draw, or Arsenal to win.
- Calculate Stake Amounts: Use Dutching calculators to calculate the stake for each bet to ensure an equal profit on any winning outcome. This involves considering the individual odds offered for each selection.
The goal: Distribute your stake across these bets strategically so that you win the same amount regardless of the final result. Dutching works best by utilizing multiple sportsbooks.
Winning Betting Strategies
There is no certainty in sports betting, but you can create and improve your chances. Adopting the strategies below gives you the winning edge:
Arbitrage
This style involves wagering on all possible outcomes of an event. For example, you can stake on a football team winning, drawing, or losing, thereby locking down one assured win situation. This strategy only pans out when using multiple bookmakers with different odds. To ensure profit, you should go for the most profitable bookmakers.
Double Chance
This strategy gives the assurance of a win if you predict correctly any one of two outcomes. It is the classic 1X, 12, and 2X bet. The conditions are as follows:
- 1X bet wins if the home team wins or the match ends in a draw.
- 12 bet wins if one of the two teams wins. You lose the bet when the teams draw.
- 2x bet wins if the away team wins or the match ends in a draw.
Low Winning Odds
This system of betting reduces losses. You can raise your winning chances by staking on low odds between 1.00 and 1.40. The returns are small but winning is likely because you are backing the favourite. If you are a novice, stick to low winning odds.
Singles Only
This strategy is the best fit for proper bankroll management. You will build up your account slower with “Singles Only” but manage losses more effectively. This strategy, when combined with others, can make you a long-time and constant bet winner.
Matched
This strategy helps you to get a positive return. With matched betting, you stake on outcomes of the same event using multiple bookmakers. Unlike the arbitrage strategy, your stakes are with the platforms’ matched bonuses. You can place money stakes on some outcomes of an event on a bookmaker and the other outcomes on another with bonuses.
Live Betting Strategies
Live betting is staking on the outcomes of an event when it is already underway. Apply the following strategies, and you may just come out victorious:
Live Updates and Streaming
Betting on the go involves keeping up with the game by following statistical updates or watching via live streaming. Watching on TV may be safer as live streams often lag. With a proper understanding of the game, you can decide what live wagers to place. We recommend using this system for teams you are familiar with.
Mobile Betting
Always choose a bookmaker with a mobile website. With the action one swipe away, you can deploy any live bet strategy more efficiently. Fortunately, most sportsbooks have a mobile-adaptable website or application.
Different Bookmakers
Research multiple bookmakers for profitable odds. Some other betting strategies rely on comparing two or more bookmakers. Select the one with the most profitable live odds on preferred outcomes. You can apply the availability of live streaming and mobile betting filter choices.
Bet on Opposite Outcomes
You can go the other way when an initial stake does not pan out. If your initial wager is on a home team to win, but the away team is currently winning, you can bet on the game ending in a draw or a win for the away team. Usually, this strategy often translates to betting on low winning live odds.
Sports Spread Betting Strategies
Sports spread betting does not involve a win-or-lose situation. Instead, it provides above/below or more/less variables to bet on.
In horse racing, the spread bet is on a horse winning by a certain distance from the next horse. The spread can be 4 to 6. You must buy the spread if you think the horse will win by more than 6 lengths. You must sell if you predict the horse will win by less than 4 lengths.
Sports Spread betting can be trickier than sports betting. So, it is important to start with small stakes and build up. Wager around sports spread scenarios you are most familiar with. Know the terminologies associated with each sport’s spread bet, and be patient.
The risk of losing more than winning in spread betting is very high. A strategy for limiting these risks is bankroll management. You can also learn to better manage spread betting by taking lessons from spread betting firms.
Conclusion
Avoid whimsical choices when betting. Instead, apply mathematics and other salient strategies we have discussed. These strategies give you an edge over the house and improve your chances of securing wins off your stakes.