However well you know Football, analysis of the numbers available is crucial to consistently make money over an extended period of time. Here are a few betting tips you can use to create bets with a higher chance of success.
1. Evaluation of the betting odds
Say you are betting on a certain football team to win the toss. The odds of this are happening are 50/50 meaning you should double your money if you win the bet. The odds however may be altered to only return you a profit of 90% on your bet. Consistently betting on this would cause you to make a loss over a longer period of time. It is important that you understand the risk you’re taking before placing a bet.
There are 3 types of odds commonly used, Decimal, Fractional and Moneyline (American).
a. Decimal — Decimal odds of 2.0 mean that you will receive $2 for every $1 placed.
b. Fractional — Fractional odds of 2/1 mean that you will make a $2 profit on every $1 spent. The number on the left shows how much profit would be made on the number on the right if the bet is won.
c. Moneyline — A moneyline of +200 means that for every $100 spent on a winning bet, you would receive a profit of $200. A moneyline of -150 means that for every $150 spent on a winning bet, you would receive a profit of $100.
2. Relevant Data
There are often several factors affecting a given bet, it is crucial to be able to identify what data and statistics are most appropriate to analyze.
Let’s say you wish to place a bet on Real Madrid to win their next match because they have won their last 5 matches in a row. You would want to look at their opponent’s level, recent form and head to head record. You would also see if the game is home or away and what both the teams home/away form looks like, if any players are injured, and if the playing styles favor one of the teams.
3. Choosing your bets (Over/Under)
Casual bettors mostly only place their bets on the final outcome of the match which forces betting platforms to focus more on the odds for those popular bets. This means that the odds for bets which are based on the number of goals/cards/corners or other variables are often overlooked.
Looking at the head to head averages of goals, cards, and corners of the teams involved can give you an idea of how fair the given odds are. Further looking at specifics, for example a heated local derby like Real Madrid vs Atletico Madrid may be reason for more yellow cards. Certain referee’s sometimes are more prone to giving away fouls/cards.
4. Manage your Bankroll
Always assign yourself a budget that you can afford to lose. However obvious a win may seem, there is always a chance you could lose it all. For this same reason, it is often more beneficial to spread your bets rather than placing all your eggs in one basket.
If you have assigned yourself $500 to use for betting. Allocate a specific % of that for each bet and try to make sure you have a reserve % to be able to recoup any money lost. Set realistic goals and don’t get greedy if you reach them.
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