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5 Tips to Make a Living from Sports Betting

5 Tips to Make a Living from Sports Betting

Sports betting is becoming one of the most popular pastimes today. In fact, it accounts for 30 to 40 percent of the worldwide gambling market. Professional sports bettors are reaping their hard work and years of research about sports betting. These professionals are raking in more and more winnings on every bet. 

However, a newbie sports bettor would have to undergo losses and disappointments before learning the ropes of sports betting. But if neophytes do their research and use these five simple tips, they can possibly make a living from sports betting. 

1. Take time to know the betting rules

Never join the world of sports betting if you’re not prepared. If you don’t know the ins and outs of how the betting works, then it’s best to leave it to the experts. Take note that in sports betting, your bank roll will be at stake. 

Unless you have a lot of extra money to spare, then you can carelessly bet without knowledge about the sports betting basics. Research and subscribe to email newsletters about sports betting so you’ll be updated on any changes, news, and current events. Plus, always research legit sites that are verified by companies such as 먹튀폴리스 (Muktupolis). Overall, learn the basics, the lingo, the rules, and anything about sports betting. 

2. Stick to a budget

As mentioned, unless you have an unlimited betting budget, then you can skip this tip. However, if you’re putting a lot of your money at stake, then it’s best to manage your bank roll. Set a budget on every bet and stick to that plan.

A good rule of thumb is to bet one to five percent of your bank roll. An average bet would be somewhere around three percent. 

3. Plan a betting strategy

Always plan a betting strategy so you won’t be left in the dark when the time comes. If you don’t know what the next step is, then having a guide for your betting strategy will come handy along the way. 

4. Don’t chase after your losses 

In sports betting, it’s crucial to know the whirlwind of emotions that can arise whether you lose or win. However, one rule of thumb though is to never bet when you’re angry or frustrated after a loss. 

You might experience a losing streak and feel like you can win everything back. That’s why you resort to betting more and more. However, when you’re betting angry or frustrated, you won’t have a sound judgment. You feel empowered which makes you sidetrack from your original betting strategy and budget. 

Moreover, never bet when you’re intoxicated. When you’re under the influence of drugs or alcohol, you’ll have a cloudy judgment. This impairs your decision-making process. A pro tip would be to always bet when you’re sober. 

5. Tally your losses and wins

Having a record of your losses and wins enables you to analyze what you’re doing right and wrong. Leverage your wins and apply the tactics that you’ve done to achieve them. And learn from your losses and think what other strategies you could’ve done better to garner in more winnings. 

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