Minimising Risk and Maximising Profits in Sports Betting


Minimising Risk and Maximising Profits in Sports Betting


It is an old debate whether sports betting comes down to skill or luck. Most US states have legally deemed daily fantasy sports as a game of skill. But then there are stories such as the UK gambler winning a 5,000 to 1 bet on Leicester City to win the Premier League in 2016. The truth is sports betting comes down to both luck and skill, and you’ll need a bit of both to get ahead and make the most out of your bankroll.

Effective Bankroll Management

Effective bankroll management starts with organising a portion of disposable income for gambling activities. This could, for example, be a monthly budget, depending on when you get paid. You just always need to ensure you are spending within your means. Whatever portion you decide, this will now be known as your bankroll. Splitting this bankroll into betting sessions and specific bets is the other important aspect of bankroll management. Placing 25% of your total bankroll on a single bet is not advisable, for instance. Instead, try to stick to bets between 1% and 5% of your total budget for that session. This will help make your bankroll go further by allowing you to place more bets over a longer period.

It is also worth checking for promotions, as they can help you extend your balance with deposit bonuses, for example. Even online casino game offers can be worth taking as well. Any cash winnings made from casino games can also be used in its sportsbook section. This makes it worth looking for a free daily spins casino that also offers sports betting.

Keeping Control of Your Sports Betting

Another sports betting skill we have not discussed is the ability to maintain control of your sports betting by keeping your cool. Many players can get affected by a particularly high win or difficult loss that causes them to make rash decisions. This will usually end badly. Any experienced gambler will tell you to play with your head, not your heart. It is far better to take a break and cool off.

If you're looking for an opportunity to explore without placing real bets, consider visiting our review site. Here, users can check out this page to browse through a wide variety of free online slot games for entertainment purposes without engaging in actual gameplay.

Using Luck and Skill in Sports Betting

Luck is an untamable mistress. Sometimes it’s with us, other times not so much. While a lot of sports fans have traditions for good luck, it is not something we can rely on. When it comes to luck, the best thing to listen to is your intuition and know when the luck has run dry. It is always better to get out ahead, and playing more, hoping your luck will change, is not recommended. A better position to take would be to use skill to edge the scales of luck in your favour.

Sports betting skills come down to knowing the game, effective bankroll management, and the use of betting strategies. All of these combined provide great potential for making the most of your bets while ensuring that major disappointments are avoided as much as possible. You can say that luck is either with you or against you when betting on a team you don’t know the history of. But in reality, knowing the team’s performance before making the bet would provide a significant advantage for decision-making over those without that knowledge.

Betting Strategies

Betting strategies are a great way to help support effective bankroll management. Various types of betting models exist that are used to help predict outcomes for a specific sport. Alternatively, many sports fans love betting on the underdog. Placing small bets on these high-odds lines won’t result in a lot of wins, but when one does happen, it can provide a very nice payout.

Another popular tactic is to hedge your bets. This means placing a larger bet on the more likely outcome while placing a smaller bet on the opposite and less likely outcome. You can do this in a way that ensures profits in either outcome if the odds are right. Covering your bases in this way can grant you a steady stream of victories.

Final Thoughts

In summary, success in sports betting relies on a balance of luck and skill. Effective bankroll management, emotional control, and strategic betting are essential. By leveraging knowledge and employing smart strategies, bettors can increase profitability and ensure a more sustainable betting experience.

Top 20 Betting Offers

Betfred
Betfred
Bet £10 and get £50 in Bonuses Claim Offer

New customers only. Register (excl. 13/04/24) with WELCOME50. First bet £10+ at Evens (2.0)+ on Sports within 7 days to get Free Bets: £20 In-Play, £20 Acca & 50 x £0.20 (£10) Free Spins on Fishin’ Frenzy within 10 hours of settlement. 7-day expiry. Eligibility & payment exclusions apply. Full T&Cs apply.

Copybet
Copybet
Bet £10, Get £50 in Free Bets Claim Offer

Full T&Cs apply. New UK customers only. The qualifying bet should be either a single or multiple bet, start at £10, and have 1.9 or greater odds. 5 Free bets include: 1 x £10 Free bet on horse racing, 1 x £10 Free bet on football, 2 x 10 Free bet in-play, 1 x £10 Free bet Acca. Max payout – £500. 7 day expiry. 18+ only. BeGambleAware.org.

William Hill
William Hill
Bet £10, Get £40 in Free Bets Claim Offer

18+. Play Safe. From 00:01 on 18.10.2022. £40 bonus. New customers only. Minimum £10 stake on odds of 1/2 (1.5) or greater on sportsbook (excluding Virtual markets). Further terms apply. #ad

Virgin Bet
Virgin Bet
Bet £10, Get £20 in Free bets Claim Offer
£10 min deposit. First bet mins odds 1.5 placed within 14 days of sign-up. 2 x £10 in Free Bets: valid for 7 days, free bet stakes not returned. Bet Responsibly. BeGambleAware.org. 18+ T&Cs apply.
talkSPORT BET
talkSPORT BET
Get up to £40 in football free bets Claim Offer

18+ New customers only. Opt in & bet via mobile up to £40 (min. £20) on any football market at odds of 2.00+, in 7 days. Get up to £40 in free bets on selected markets. Bonuses expire in 7 days. Card payments & Apple Pay only. T&Cs apply. begambleaware.org | Please gamble responsibly.

Bzeebet
Bzeebet
Bet £10, Get a £10 Free Bet Claim Offer

18+. New Customers Only. Max one £10 Free Bet. Qualifying bets at Odds of 1/1 or greater. Paid as Bonus Token Min 4/5 Odds Req. Skrill, Neteller, Paypal not eligible. T&Cs Apply

LiveScore Bet
LiveScore Bet
Bet £10, Get £20 in Free Bets Claim Offer

*New members. £10 min bet on sportsbook (ex. virtual) 1.5 min odds, settled in 14 days of sign-up. Free Bets: accept in 7 days, valid 7 days on sportsbook (ex. virtual). Stake not returned. Full Terms apply. Bet Responsibly. BeGambleAware.org. 18+

FafaBet
FafaBet
Sports Offer - Free Bet up to £50 + 20 Casino Bonus Claim Offer

New Customers only. Deposit and bet on any Sportsbook Markets with min odds of 2.0. Get 50% Back of your first days' losses as a Free bet up to £50+£20 Casino Bonus.

Coral
Coral
Bet £5 Get £20 in Free Bets Claim Offer

18+ New UK+IRE Customers only. Min first 5 bet within 14 days of account reg at min odds 1/2 = 1 x 20 free bet. Stake not returned. Free bets expire in 7 days. Full T&Cs apply.

BetMGM
BetMGM
Bet £10, Get £40 in Bonuses Claim Offer

New cust only. 7 days to opt in by placing a £10 qualifying bet at 1/1 (2.0) odds or greater, to receive 4 x free bets. 1 x £10 Horse racing, 1 x £10 Free Bet Builder, 1 x £10 Acca and 1 x £10 Football. 7 day expiry. Exclusions apply. Stake not returned. T&Cs apply.

32Red
32Red
150% Casino Bonus up to £150! Claim Offer
18+. BeGambleAware.org. New accounts only. Min. £10 deposit, debit card only. Up to 50x wagering, game contributions vary, max. stake applies, 7 day expiry. See full terms. #AD
Ladbrokes
Ladbrokes
Bet £5 Get £20 in Free Bets Claim Offer

18+ New UK+IRE Customers only. Min first £5 bet within 14 days of account reg at min odds 1/2 to get 4x £5 free bets. Stake not returned. Restrictions + Free bet T&Cs apply.

Bet365
Bet365
Bet £10, Get £30 in Free Bets Claim Offer

Min deposit requirement. Free Bets are paid as Bet Credits and are available for use upon settlement of qualifying bets. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and T&Cs apply. Registration required

BetVictor
BetVictor
Bet £10 Get £30 Claim Offer

18+ New customers only. Opt in, bet £10 at odds 2.00+ within 7 days, no cashout. Get 6x £5 Free Bets, set events at odds 2.00+. 7 day bonus expiry. Debit Card / Apple Pay payments only. Click for T&Cs. Please Gamble Responsibly.

SBK
SBK
Bet £10, Get £30 in Free Bets Claim Offer

Place a bet of £10 at min odds of 1.5 and get £10 upon settlement. Further £10 Multiple token will be credited after 24 hours and a further £5 Horse Racing Multiple token and a £5 Football Bet Builder token will be credited after 48 hours. Full T&Cs apply.18+. BeGambleAware.org.

NetBet
NetBet
Bet £5 Get £10 Claim Offer

New Customers, deposit and place a qualifying bet with bet builder, min stake £5, min odds 3/1 (4.0). Receive a £10 free bet, valid for 7 days. Full Terms apply, 18+ begambleaware.

BetZone
BetZone
Up to £60 in Free Sports Bets Claim Offer

Promo Code: NEWWELCOME60. For NEW UK customers only, deposit using UK debit card, and certain qualifying bets of Evens or greater. Terms apply 18+

Bresbet
Bresbet
50% Bonus up to £25 Claim Offer

T&Cs apply. 18+ New customers only. You must place 3 x £10 sportsbook bets to qualify. Money back as free bets up to £25. Must use code welcome25afs when creating an account.

SportingIndex
SportingIndex
Bet £10 Get £20 Claim Offer

New customers place a £10 fixed odds bet at minimum odds of 1/2. Get 2 x £10 free fixed odds bets. 18+ begambleaware

BetGrouse
BetGrouse
Bet £15, Get 10 Free Bet Claim Offer

New customers only. Max. one £10 free bet. Qualifying bets must be placed at odds of 1/1 (2.00) or greater. Paid as bonus token with min. 4/5 (1.80) Odds req. T&CS APPLY. 18+