Betting is fraught with highs and lows, especially when you first get involved. You might already be tearing your hair off having lost a little bit of money and are desperately searching for a way to inoculate yourself against losing again.
However, one myth that we really have to dispel from the off is that you really can’t avoid this happening. There is no dead cert for winning when betting. Having said that, there are systems and techniques that you can use to keep your losses to a minimum.
So what are these strategies for losing less money? What types of bets are lower risk and will cause you to lose less money in the long term? Well, read our guide to minimizing losses and how you can break even or even make a profit consistently.
What Do I Have To Do To Minimize The Risk Of Losing A Bet?
The key thing to remember when you are betting, either as a one-off or in the long term, is to do your research. Lots of people place a bet either on a hunch or because of some advice from a trusted source who actually doesn’t know that much.
Doing your research is crucial in making informed bets. This type of bet will be minimal when it comes to losing, as all the stats made by sportsbooks dictate that the chances of winning are greater.
If you are trying to decide between two different teams playing against each other, then you’ll need to research the history of each team, especially the recent history. How well they have played across the last 10 games will determine the odds of the outcome of the next game.
You’ll also have to study the recent history of those two teams specifically playing against each other.
If there is a long history of Team A beating Team B by a certain margin, then you’ll want to bet on Team A, although they are probably the favorites and you’ll win a lot less money.
Also, things like injuries will affect the odds. If a star player is absent for whatever reason, then this will determine the outcome of the game as well as the odds.
Stick To Simple Bets
There are two types of bets that are the most popular: moneyline and spread bets. These types of bets are popular because they are straightforward, the risk is low and the losses that you’ll incur will be far less than parlays and accumulated bets.
Moneyline bets are when you place a single bet on a team winning or losing and if that team wins then you get a payout. That’s right, it’s that simple!
However, you’ll have to familiarize yourself with the odds of whatever team you’re betting on. If a team is considered the favorite, they will have a minus symbol beside a three-digit number.
Conversely, an underdog, that is, the team least favored to win, will have a plus sign beside their three-digit number.
These symbols tell you how much money you’ll need to wager to place a bet and how much you stand to win.
Spread betting is when you are predicting how much the total score will be between two teams within a margin of points, usually determined by the oddsmakers.
For example, if you are betting on a match that comes with a spread of -10, then this means that your team will have to score 10 points or less than the final score. Likewise, if a team has +10 on the spread, they will have to score up to 10 points under the final score.
These types of betting are the best place to start, as they are uncomplicated and do not result in you losing a lot of money. Over time, if you do your research, then you will reduce the risk of losing overall.
Do Not Bet On Every Match-Up
Overconfidence can sometimes lead to frustration and you making a loss across the board. This is because some people think they should place bets simply because they are available.
However, it would be better to place your bets wisely. If an option does not look that appealing to you, then it might be better to skip that and wait for the next week’s round of betting.
It is important to realize that long-term profitable betting is not like the movies where large sums of money are gambled on negative odds. You will have to exercise patience and play smaller amounts if you want to build up money over time.
Using Handicappers
Handicappers are professionals who go through the trouble of sifting through the best picks for you and then delivering them… for a nominal fee, of course.
This can be very useful when you get started, as you can use these best picks to identify certain trends that you can then use in your later betting. If you are making small bets, then the handicapper fee will not cost you that much money.
However, if you are wanting to get bigger wins, then you might have to look at paying premium prices, as the payout will be a lot more if you do win. But if you lose, then you’ll not only lose the price of the bet but you’ll also be more out-of-pocket with the additional fee.
Avoid Complex Betting Like Parlays
If you want to avoid losing money, then you’ll want to avoid parlays. Parlays are multiple bets that you place at once. However, you have to win all of these smaller bets in order to claim your payout.
A parlay does result in a larger payout, but the chances of you losing this bet is also greater. This is not recommended for first-time bettors or someone who wants to make more money in the long term.
Although it might feel exciting to win larger amounts of money, you’ll need to keep it slow and steady, making smaller bets that you have researched and are pretty sure will come through for you.
A List Of Zero-Risk Betting Strategies
In short, here are the names of some low-risk betting strategies:
Arbitrage
This is when you place bets on all possible outcomes to guarantee you a better chance of winning. However, this might result in you losing more money than you win.
Value Bets
this is when you have done your research so that you only make bets when the odds are in your favor.
No Risk Matched Betting
this is when you use free bonus bets to win money. This means that there is zero cash loss, even if you lose a bet.
Back And Lay Betting
This is when you bet on something that currently has high odds, then exchange it for a lower price at a betting exchange market. This way you can lock in your profits, so matter what the outcome is.
Conclusion
We hope that our guide to dramatically reducing the losses that you’ll make on a bet has helped you when understanding the mindset you must be in when betting to start making money.
Over time, with research and patience, you will start to see a difference in your payouts.
A favorite of mine is golf gambling. Such a relaxing game can win you big when you bet on the right people. Plus, betting makes watching it much more fun, too!
If you’re looking for a new hobby, gambling can sound like a risky venture. But it doesn’t have to be. Stick with my knowledge of the business and I’ll help you navigate the tricky waters that are gambling online sites.
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