Tips for making money betting on football

By on October 10, 2016

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Think you can beat the bookies and earn some extra money by betting on football? You wouldn’t be the first and you won’t be the last, but you should be aware that the majority of bettors lose money over the long run.

Only a very small percentage of football bettors are profitable and they often put in countless hours of work researching and building sports models – something that casual bettors don’t have the time or money to do.

Professional bettors treat it like a business and they reap the rewards, whereas casual bettors just take their chance and hope for the best. To be honest, if they want a chance to win big money, they would be better off just buying online lotto tickets. The fact is, if you want to win consistently in the long-term, you need to bet smart and you can secure profits throughout the season by using these tips below:

Bankroll Management

One of the main reasons bettors end up losing is because they don’t manage their bankroll effectively. There are a few bankroll management models you can utilize, with the most popular being the Kelly Criterion. You also need to ensure you don’t chase your losses, which is extremely common among casual bettors looking for quick profits.

Sports betting in general is more similar to a marathon than a sprint. Even professional football handicappers grind out small profits over the course of the season and are extremely pleased anytime they hit 60% of their bets.

While less common, many casual fans will bet on far too many games each week just to have action. When you wait all week to bet on football, some bettors have a tendency to wager on nearly every game. Unless you have an identified an edge, you should never bet on a game. You only need to bet on one game to have a good week.

Get the best odds

You may have heard of this tip before, but I want to hammer it home. You’d be surprised how much profit you could be leaving on the table by not getting the best odds so always shop around at several bookies to ensure you get the most for your money.

While shopping for the best odds is important, it’s even more important to bet with online sportsbooks that have a solid reputation of paying out quickly. Nothing is worse than winning on your bets, but not getting paid out because you joined a rogue sportsbook. Always spend time researching a bookmaker before depositing money.

Perform Detailed Recordkeeping

It’s a bit of a chore to keep records of your bets every season, but it’s the only way to go. When using multiple bookmakers to get the best odds, you’re going to have trouble remembering if you’re up or down over the long-term. Detailed records will also allow you to research the records in the future to identify your strengths and weaknesses.

Do Your Homework

You can get all of the information you need on the Internet, especially when it comes to betting. Football is the most popular sport in the UK and there are thousands of websites proving strategy, tips, analysis and free picks. Not every source will prove competent, but there are a lot of legitimate sources with insightful analysis.

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