Sports betting is big business. It’s a growing industry worldwide—particularly so in the US, where sports gambling legislation is continually changing.
In ages past, US residents had little access to gambling outside physical casino venues and horse racing. However, many states now have legal sports betting, and some are also paving the way for online casinos. This means that there is a potential for money to be made!
If you love following competitions like the NBA, NFL, and MLB, why not consider signing up to a sportsbook, checking out online betting offers, and building a betting strategy to hopefully net you some profit? It is possible to do so, but you have to think things through carefully and there are many considerations.
One such consideration is whether you intend to bet on just one or multiple sports. If you have knowledge of multiple sports, you could spread your wagers across them, but how does this affect your strategy? Do you adopt the same betting strategy for all sports, or do you tailor them to suit individual competitions? We’ll look at this below.
Your overall strategies should remain the same
Most people have an overall strategy relating to their online sports betting. We don’t think that this should drastically change. If you have vastly different strategies for each sport, it may become confusing, and you may struggle to manage everything. Furthermore, it may simply sap any fun out of the process!
Keep an overall goal in mind
The main part of strategy betting is having a goal. What do you want to achieve from sports betting? Do you simply want to enhance your viewing experiences by placing a few fun wagers to make the matches more interesting?
Perhaps you want to make a consistent 10% return and place that money in savings? Whatever the overall goal, we advise keeping this the same for all sports. This gives you cohesion and allows for a more streamlined process.
Maintain a maximum weekly spend for each sport
This is a healthy way to gamble, and we advise everyone to do this—set yourself a maximum spending limit per week or month. This should be the same for each sport. By setting a limit, you’ll know exactly what you have to work with across each competition, like the NBA and NFL.
Moreover, having pre-defined limits prevents any problems and stops you from spending more than you can afford. Some online sportsbooks like https://betting-sider.net/premier-league-odds/ even allow you to set limits in the account management section—you can’t physically deposit or spend more than this amount.
Allowances and changes should be made for bet types and competitions
Although we advise maintaining a consistent over-arching betting strategy across sports, there can be allowances and variances for some aspects. This includes using your knowledge of the sport, different competitions, and player/team performance.
Consider more high-risk bets if you have better knowledge of a sport
The more knowledge and information you have relating to a sport, the more consistent you can be with your bets.
Therefore, if you specialize in one sport, it could be an idea to place more advanced wagers there. For example, let’s say that you have brilliant NBA knowledge and follow the teams and players in great detail. In contrast, you know little about NFL.
In this instance, you could choose to place simple match outcome bets on the NFL based on current standings, but place points spread bets on NBA matches as you feel that you can predict the scores better with your knowledge.
Consider spending more on special events
It’s fine to have a betting strategy that relates to how much you spend on individual bets. This gives you consistency and allows you to easily keep track of things.
However, there could be instances where you may want to spend more on different sports. For example, the Superbowl often results in some betting deals and special odds, and you may want to capitalize on this. Similarly, you might want to wager more on the NBA playoffs and finals.
Having set bet values is fine, but don’t be afraid to alter them if opportunities arise in different sports.
Keep track of injury and performance reports and alter your bets accordingly
Regardless of the sport, it’s important to keep track of injuries and player performance to make the most of your bets. Injuries can drastically alter a team’s performance and mean that a sure-fire win suddenly turns into a 50/50 potluck game.
For example, let’s say that you would typically place a wager on the Brooklyn Nets to win against the Orlando Magic. This seems like a fairly positive wager—the Magic are one of the worst teams in the NBA and Brooklyn SHOULD beat them.
However, you notice that Kevin Durant has been ruled out of the game due to a training injury. This drastically reduces the offensive output of the Nets.
It’s now a question of whether you think Kyrie can carry them and make up for KD’s impact. In instances like this, betting strategies go out the window and you have to adapt and make on-the-fly decisions.
As you can see, this question does not have a black-and-white answer. Instead, you should aim to stick with an overall betting strategy, regardless of the sport, relating to how much you spend and what you want to achieve.
However, there should be allowances for variances involving the types of bets you make and which competitions you place wagers on.
