A common question that novice sports bettors ask, especially those exploring is what it takes to ensure professionalism and consistent wins when betting. The answer to this query is straightforward: discipline. While it may not be the fancy term you expect, discipline is key to any successful betting experience. You should be able to stay disciplined in your approach and take your cold streaks in the same stride you do your hot streaks. Otherwise, you will find yourself among the 90% of sports betters who give up quickly after losing money.
Today, we’ll take a look at different ways you can ensure that you remain disciplined throughout your sports betting endeavors.
Stick to What You Know
We all have that one friend who always has a trick or two up their sleeves when it comes to betting. For instance, they could tell you that betting on Japanese tennis could guarantee easy money. Let’s say you are a huge tennis fan but don’t have the tiniest detail on Japanese tennis. Will placing your wager on one of the Japanese players or teams be a good idea? Of course not.
If you don’t understand something, betting on it is a game of sheer luck. It is tempting to bet on something when your teams are not playing, as New Jersey sports betting sites offer a wide array of sports from around the world. However, you should remember that you have a better chance of winning when you bet on sports and teams that you know.
Set Aside a Betting Bank
Another way to ensure you are disciplined in your betting is by separating your betting money from day-to-day expenses and storing it in a betting bank. No matter what happens, you should never take money from your daily finances to fund your gambling lifestyle. Doing this will make it hard to detect fluctuations in profits and losses.
The amount you place in this bank will depend on your risk tolerance and how much disposable income you have. On top of that, only place wagers with money you are comfortable losing. And if your funds get depleted quicker than you had planned, that is your cue to take a break.
Only Place Planned Bets
It always helps to plan for each of your bets. For instance, if some matches will be played on Saturday, it’d be great to decide on the ones you will bet on at least a day prior. After that, place no more bets.
This is easier said than done, as most bettors often find themselves tempted to place more bets for fun, chasing, or after getting new information. If you have the same struggles, a distraction would be a fantastic idea.
Do Not Chase Losses
As a punter, one of the worst behaviors you can have is chasing losses. It happens when you’ve had an awful betting day and are doing all you can to win back your lost money by wagering more. Usually, these aren’t planned bets but rather random bets on events that might happen later that day or weekend. They also involve taking more risk in a bid to recoup the lost money.
Chasing is a display of indiscipline. While it may work sometimes, it is a sure way to lose money in the long term. Instead of chasing, focus on researching your bets thoroughly and developing solid betting strategies.
Select Bet Types Wisely
A disciplined punter will always prefer wagering on singles over accumulators, otherwise known as parlay bets. Why? The more selections you include in a bet, the more variables your bet has and the harder it is to win.
While accumulators can be a fun bet, we all know that when it comes to making money, there is no room for fun bets. Choosing value singles is the way to go if you want to be disciplined. Avoid trying to take advantage of the multipliers offered by sportsbooks, as they are a way to entice you to take more risk (and lose your money).