A betting strategy allows you to apply logic to your bets. It’s easy to look through scores of games and markets before making picks, but without any logic applied, you’re going to lose money a lot quicker than you win playing 20 bet DE.

The best betting strategies will create value from your bet’s 20bet bonus codes and, hopefully, ensure a profit. Sports can be hard to predict, and it’s this unpredictability that makes them so popular. But from a betting perspective, it makes it hard to be profitable, which is where a betting strategy comes in.

One thing you need to note before we dive in is that you aren’t going to win every bet you place. However, a solid strategy will allow you to give yourself the best opportunity to make a profit. The same concepts are applied throughout sports, and the classic “fail to prepare and prepare to fail” is very much applicable here.

Basic Sports Betting Strategies

Before we talk more about advanced sports betting strategy, there are a few basic principles that we want to address. These are as many rules as strategies and are imperative if you want to consistently make money from sports betting.

1. Bankroll Management

Sports betting should be seen as an investment. You invest your time (research) and money (stake) to try and win more money (ROI). Your bankroll will determine the amount you should place on each wager and sticking to these limits is imperative as it means that when you lose (and you will lose from time to time) you can soak up the loss without a worry about finances.

The amount you wager on sports betting sites should be on a points system. For standard bets, this might be 1 point, for bets that are deemed to have increased value, anything up to 5 (based on how much value the bet has) is fine.

An easy to work this is by using 1% for 1 point. For example, if your bankroll is $1,000 then 1 point would be $10 (1%). This can be adjusted based on how easy it is for the bankroll to be replenished, but as a rule, this is a safe place to start.

2. Learn How Odds Work

You must know how betting odds work before placing whatever type of bet. Odds represent the payout based on the probability of that result. So, a coin toss would be 50/50 or even money (+100) for heads or tails.

You also need to know why the odds change. There are generally two instances of this and that’s based on the amount of money wagered or something that would affect the chances of the result, such as a star player getting injured or a change in the ground for horse racing.

3. Avoid Parlay Bets

Although Parlay bets are popular, it is not advisable to gamble on them as they can give you a relatively small initial investment and turn around and win a huge amount of money. This type of bet must be avoided to make money from online betting.

The reason is that they rarely win and will lose you a lot more money in the long run than they will make. If you’re starting, especially with a small bankroll, they are going to drain you faster than you can keep up with. Stick to straight wagers and futures bets.

4. Embrace the Data

Data is key when choosing potential picks, it’s great using a service like BetIdeas which provides AI-powered predictions. You need to have more than just a hunch or feeling about a bet and instead, back that up with data that can be applied to ensure you’re on the right lines.

There are tons of sites that offer free and paid data services. You can use the home sites of the NFL, MLB, NHL, and NBA to pull huge scores of data for free. Paid sites won’t necessarily have access to more data, but they will help you translate the stats into bets, which saves a lot of time, especially when starting.