After reading punch of Sports Betting Books in recent months I have noticed that some of the main points in those books are quite similar. I decided to write them down to focus more on those points myself and to share those lessons with you. Check it out whenever you feel like you could be doing a bit better in sports betting.
Enjoy the Sport
It is really important to simply enjoy the sport you are betting or trading. This might not click in the first months or not in a first year, but as time goes by you simply must enjoy the game. If you don’t like it, you’ll become bored and you can’t take the next step in betting. Obvious reason for this is that if you enjoy the sport, the more you are likely to learn more about the sport and get better at finding the edge and the momentum, which are crucial to crush it in sports betting.
For example I have followed football since childhood and I really enjoy it. I have attended over 100 football matches in Estonia and hopefully lots of more to come. I have even made custom statistics about Estonian football, cause I really enjoy it. That is why I have an edge against average punter.
Stay In The Game
This is the most important rule in the sports betting world. Just stay in the game! Don’t gamble and bust out. Don’t overstake your bets. Just keep on going. This lesson is probably in every sports betting books I have read. Bankroll management is the key to become successful in sports betting. Write down your rules and stick to them and don’t be afraid to lower your stakes if your losing or not feeling confident to lose your bets.
I have written a post about bankroll management in my blog, feel free to check it out one more time: Top Six Keys to Sports Betting Bankroll Management, so You Could Increase Your Monthly Income.
There is no way to focus too much on this point. You simply have to be prepared to handle those long downswings when they appear. To get more information about this lesson check out the book Fixed Odds Sports Betting by Joseph Buchdahl
And by everything I mean everything. You should start with simple bet tracking, where all important areas are covered – sport, league, bet, pregame/in-play, bet odds, bet source etc. After this, you should start to track yourself. How much time you spend on your bets and betting overall and so on. After you have tracked everything you think is important then even more important part starts. You should analyse your data regularly. Where do you get the edge and where you get your losses. Should focus more on weekends or weekday events. Are you more focused on daytime or at night? Try to find trends in your betting. Do you chase losses, do you stake too much on some tipsters, do you win more on some sports/leagues, do your stats go up after you have started your day with morning run?
This could be endless list, but the most important is to keep track of everything important and then analyse the data. You should start with basic stuff and then as you evolve then ask even deeper questions about your betting. If you don’t track your bets you’ll probably never going to crush the betting field. Think about sports betting like running a business, it would be plain stupid to not track you money flow. Nobody runs a business without tracking their money.
Find out more about bet tracking and why it is important from book Sports Trading on Betfair by Wayne Bailey. It is covered on most of the books I read, but I liked Wayne Baileys way the most.
There Is No Silver Bullet
The way you bet today might not work again tomorrow. So to win constantly you have to be able to adopt new betting styles, new markets and new techniques. If you’re able to find some sort of strategy that wins you money, then it’s matter of time when others also find the same strategy. So your competition gets tougher and edge tighter and even worse some winning strategy might turn to losing strategies. To avoid this, it is important to work on different strategies, look for other tipsters and modify your own strategies regularly.
For me it is a great lesson. I leaned a lot on only one sports betting tipster. When he had a bad month, I also had a bad month. When I started to look for other tipsters to follow, my winning margins might have dropped a little, because I followed many tipsters, but when one tipster had a bad month, I still ended in profit, thanks to other tipsters.
Keep On Learning
Always keep on learning. That is the last lesson. Sports Betting markets move so fast and situations change quicker than ever. How can you cope with that speed, when you’re not learning? I have to say that I reading through eight sports betting books in last two months has been super inspiring. I’m eager to try out new strategies, I track more of my bets, I read more about sports betting, I feel more excited about sports betting in general.
Few months ago I’ve only heard about sports trading techniques and now I’m already trading football on betfair with some of the tactics I have learned in recent books and articles. I feel like this gives me more information about how prices move and how to profit from momentum price movements. To simply learn more about sports betting, check out Mathletics by Wayne L. Winston.
I am eager to learn even more about sports betting and you should be too. It is the only way we can be profitable in few years time also. If you have any good books or articles you recommend to read, then let me know. I will definitely take a look.
After reading those books I feel like there is even more to learn. Thanks to those books I have done many changes to my sports betting, learned new techniques and have better understanding about sports betting markets. I hope that those five points can also provide you with motivation or maybe some new readings or maybe you found something you haven’t think before.