Best Sports Betting Strategies & Guide

Never over-reach with the size of your wagers. Start with a static bankroll (say, $200) and set limits on individual stakes. 

For example, you might set bets at 1 unit, or 1% of your roll. In this example, each wager would be priced at $2. You can increase your bet sizes on strong favorites (up to, say, 5 units) or decrease them if backing an underdog (e.g. to 0.5 units). 

You must understand how bookmakers calculate odds and display them on their sportsbooks. 

The odds indicate the return for 1 unit stake. So, a price of 5/1 would return $5 for a $1 stake (plus your original $1 stake back). The key skill is calculating whether you think the price is value. Are the real odds of the team winning 1 in 3, or 3/1? If so, the 5/1 price indicates some value. 

Source: 888sport

It’s important to compare odds on multiple bookmakers. Prices can vary dramatically across different bookmakers for the same game. It might not make a difference for one game or match, but the money you save adds up over time. 

You can also now use AI services like WinnerOdds that find inefficiencies in 1000s of bookmaker odds. AI also studies games and calculates its own probabilities before sports betting sites have published their prices.

The Cash Out function is a regular feature at many online sportsbooks. It gives you the option to settle some or all of your wager before the end of the game. 

Here’s an example: 

You bet $10 on Argentina to win at 2/1 vs Paraguay. You stand to win $20 but at 1-0 up Paraguay are getting a lot of possession and are threatening the Argentina goal. Rather than risk losing your $10 bet, you accept the sportsbook’s Cash Out offer of $15 to settle the bet then and there. 
Alternatively, Partial Cash Out is a good way to secure some profit while letting the rest of the bet continue as normal. It’s not available at all online sportsbooks so you’ll need to shop around. 

Sportsbooks offer full stats pages for every sport displaying head-to-head stats and previous form. Choose a sport you’re interested in and use the relevant data to make your bets. Don’t spread yourself too thinly, either: choose 2-3 bets a day and plan your bankroll accordingly.

Many online bookmakers now display ‘hot bets’ showing where other customers are betting their money. The thing to remember is that most other gamblers, especially casual bettors, have no idea what they’re doing. They will go with gut instinct or bet on their favorite teams, or simply lump on the odds-on favorite. 

Bookmakers adjust their odds based on many factors, none more so than the sheer weight of money wagers on one outcome. It might not even be the most likely outcome out there, but bookies hate leaving themselves exposed. 

The weight of bets on one player or team will mean the other team’s odds get bigger. This is where you can find value in betting the other way.

All bookmakers use implied probability to calculate their prices. You can use some basic sports betting strategy to work out your own odds. 
For example, in the night’s football match, we calculate the following probabilities: 

Manchester City 71% (2/5)
Brentford: 20% (4/1)
Draw: 9% (10/1)

Effectively, we think Man City will win 71% of the time. However, Brentford have striker Ivan Toney back from injury and the bookmaker makes Brentford 30% chances with odds of 9/4. That’s slightly higher than our assessment of 4/1 and represents some value.