The Five Keys to Disciplined and Profitable Sports Betting

It is often asked what it takes to bet on sports professionally and consistently bank wins for the long-term. The answer to this question is always the same: discipline.

It may not be sexy or intriguing like a so-called “new fail-proof betting system,” but discipline is a major key in being a successful sports bettor. Winning in the sports betting game takes a certain mindset. You need to stay disciplined in your approach and be able to manage your hot streaks just as well as your cold streaks. Otherwise, you may end up just another one of the 90 percent of sports betters that go bust and never return to the action.

Since you’re reading this to avoid becoming another dreadful statistic and live the comfortable life of a sports betting professional, here’s a look at five of the most important keys to disciplined and profitable sports betting success.

1. Money Management

Believe it or not, most sports bettors don’t lose due to poor picks. Rather, it’s usually poor money management that causes them to fail. There are many more bettors out there who can pick a winning match-up than there are bettors with sound money management skills, and money management is key.

Betting half of your bankroll on one game or betting drastically different amounts on various games is a surefire way to lose all of your cash in the long run. You may win a handful of games betting more than you should, but it’s only a matter of time until a large loss or series of losses will come along and wipe you clean.

There are many other common money management mistakes as well, one of which is doubling up after losses or wins. Unfortunately, many bettors make this mistake. Even experienced players who’ve been betting for years let their emotions take over from time to time and try to double up after a loss. However, nine times out of ten it doesn’t turn out good in the end.

There have been hundreds of books about sports betting written over the years, and nearly all of them have sections devoted to money management. It’s that important.

While there are bound to be times when you need to step outside of your comfort zone or deviate from your plan and play a little more than you should, it’s critical to stay inside the limits of your bankroll as much as possible if you want to rake it in like the pros.

Needless to say, I highly recommend separating your sports betting bankroll from you living money. If you experience a highly profitable week or month, add a higher percentage to your bankroll and pay yourself from that. Always remember, this is a business and you should treat it like one.

1. Establish Your Bankroll and Unit

If you’ve seen “Rounders” or any gambling flick and are no stranger to the adrenaline-packed world of sports betting, then you obviously know what a bankroll is. However, even you will likely find some value in the following info.

Similar to the way you would invest x-amount of dollars into a mutual fund or blue chip stock, you should have the same state of mind and follow a similar thought process when wagering. In fact, you can even think of wagering as a form of sports investing. The money you designate for your “sports investing” is simply referred to as your bankroll.

Bankrolls come in all sizes, depending on the budget and agenda of different sports bettors, but they’re generally based on several factors, such as:

• What you can afford to set aside and potentially lose
• How many games you plan to wager on and how long you plan on investing
• How much you plan on betting per game

The longer you intend on wagering or investing, the bigger your bankroll should be. It may seem obvious, but you should also never invest more than you can afford to lose. The key is to set aside enough to give you the ability to make nice profits without compromising your current way of life.

After funding your bankroll, you should keep it in mind when determining your unit. A “unit” is simply a fixed amount set aside for you to wager per game. Ultimately, your unit size should allow for up to 20 bets within the limits of your bankroll. For example, if you have a $4,000 bankroll, you should have a unit of approximately 200. Of course, this varies based on your bettor profile, which we’ll get to next.

1. Understand Your Bettor Profile

Understanding the type of bettor or investor you are plays a big role in your money management skills and ultimately your success as a sports bettor. Dealing with real money can be stressful on people, so you need to understand how betting and potentially losing your hard-earned money will impact you.

Although it’s important to establish a bankroll and betting unit, establishing your bettor profile is the primary step in developing a sports betting system. Sports betting provides ample opportunities for people with an array of personalities. Bettors who lay the points often like the feeling of security betting on a favorite provides. Conversely, people who like taking the points are attracted to underdogs and have less of an aversion to risk. After all, why else would anyone put money on an a inferior team with the odds stacked against them?

Meanwhile, bettors who gravitate towards parlays tend to like the thrill of high risk/reward ratios. If you consider yourself a parlay player, you’re probably one of the rare players with the stomach to withstand an under .500 winning percentage. Fortunately, you can still be a profitable parlay bettor with a win percentage as low as .400 if you have the right system in place.

Teaser bets, on the other hand, require you to win multiple games in order to cash a bet. Plus, the odds are much lower than they should be. That’s why they’re often referred to as “sucker bets.” However, because teaser bets allow you to alter the point spread, they tend to appeal to very conservative players who like high win percentages and don’t mind grinding out wins. On the downside, due to the odds, you generally have to win over 50 percent of your teaser bets simply to break even, which can be a stretch at times.

In the end, the type of player you are really doesn’t matter. Whether you like to bet the spread directly, take the safe approach with teaser bets, or experience the volatility of parlays, you can be a successful sports bettor. The key is playing to your strengths and having the stomach to handle your bets and the types of investments you’re making. In other words, know your bettor profile and play accordingly.

1. Find and Stick to a Betting System

Do you think Warren Buffet has gotten to where he is today by throwing darts at a board? Although there’s no such thing as a sure thing in the world of sports, most of the betting public believes simply because they’re sports buffs or used to play sports growing up that they can win in sports betting. Trust me, if that were the case there wouldn’t be dozens of bookmakers looking to take the other side of a bet.

Sure, you may be able to win a wager from time to time betting on sports, but it’s difficult to consistently win sports bets. When straight betting, a player needs to win over 52 percent of his or her bets simply to break even. Therefore, it’s imperative that you find a system that works for you and stick to it.

Variance can kill any betting strategy, but the best way to combat variance is a long sample size. Whether you know it or not, when you bet according to a system, you’re utilizing just that.

You can create your own system or use one you find. While a simple Google search will yield a ton of sports betting systems all claiming to be the next best thing since sliced bread, the best way to find a system is to identify a profitable trend and convert that trend into a system for which games to play. This will allow you to maximize your bankroll and take away the sting of a potential single loss.

With a system, your profits should outweigh your losses in the long run. This is how the professionals operate and this how you must think as well if you want to play at their level and say goodbye to your 9 to 5.

1. Understand the Market

Like any type of business, sports betting is a single part of a greater market, so it’s important for any sports bettor to understand the market and why it moves the way it does. A line may move for a lot of reasons. It could be public sentiment, an overreaction to a player injury, an influx of sharp money, or several other things. That’s why you need to understand the market and know how to make a strong number.

If the number you have your eye on moves before you place your wager, your potential play may lose value, which means you must remain disciplined and pass on the play. A smart sports bettor knows the value is not only in the team but in the number as well.

Needless to say, understanding when to bet early or late in the market is an important skill. Luckily, this skill comes with time and studying the line movement. By putting in your time and studying the market, you’ll be able to make it work for you.

As a professional sports bettor, or at least a profitable one, understanding the weaknesses of odds makers is also a must. They may have the edge in many ways, but they are also responsible for hanging a number on each and every game. We as sports bettors, on the other hand, have the freedom to pick and choose our bets or investments.

From NFL and college football to baseball and the NBA, there are a number of sports taking place on any fall weekend. With the NFL being the odds makers biggest handle, it gains most of their focus. With over 70 college football games and a variety of other sports taking place on Saturdays, they’re bound to make some mistakes. The key is realizing the weak spot in the market and understanding how to capitalize on it. However, this is easier said than done.

As is the case when investing in the stock market, you should always get the greatest value for your hard-earned dollar. Also like the stock market, there is a learning curve to becoming a successful sports bettor, and it can sometimes be expensive.

Some people find they have a knack for sports betting while others never quite get it. Although everyone has their own opinion when it comes to handicapping games, the best way to become a profitable sports bettor is to learn how to think like an odds maker and combine that knowledge and mentality with the other useful advice in this article.

Betting on sports full-time for a living and actually becoming a highly profitable pro is no easy feat. What took weeks to win can be taken away in an instant if you lack sound money management skills and the discipline to follow a system and keep your emotions in check.

The biggest mistake sports bettors make is becoming gamblers rather than disciplined players. Instead of taking their losses and chalking them up to a bad day, they chase their losses and lose even more. This is a terrible habit that only increases the likelihood of burning through your bankroll.

In the end, you have to look at sports betting like a business, be willing to suffer a few losses, and stay disciplined at all times.