Betting for profit

Before we start betting process, we need to decide why we want to bet on sports. And there are actually only two possible answers. We are either betting for fun or we are betting to make a profit. And what is the difference between these two approaches?

Betting for fun (tips & advice)

• Have a set budget for how much you're prepared to lose. Decide how much money you're prepared to risk losing, and be sure this is an amount you can afford to lose. Then, never spend more than that budgeted amount.
• Don't stake too much on any single bet. You should set some fixed rules about how much to stake on each bet.
• Focus on sports that you enjoy watching. You're more likely to have fun and to make good betting decisions this way, because of your existing knowledge.
• Don't place too many bets. It's more beneficial to place a few well thought out bets.
• Experiment with different types of bets include live betting. It keeps betting process interesting, and can even improve your overall chances of picking a winner.
• Don't worry about your results. As long as you're not losing more than you can afford, it doesn't really matter what the results are.

Betting for profit (requirements for success)

• Realism. it's much easier to approach things in the right way and deal with situations where things don't go as expected.
• Analytical mind. We need to be able to analyze all the possible factors that can affect the outcome of events, and determine which ones are the most relevant in any given situation. We need to be able to analyze our own betting performances too, and assess where improvements can be made.
• Patience. The quality of the bets placed that matters, not the quantity.
• Discipline. This is the most important characteristic. Without discipline, we can easily end up taking far too many risks.
• The concept of value. We need to consider value for each and every bet we place. If there's no value, then we shouldn't be betting.
• General sports knowledge. The more knowledge we have, the better our chances of making accurate predictions. Our knowledge must stay up to date!
• Betting options and strategies. We need to understand all the different options. Or at least the main ones. Also we need to know about things such as hedging, handicapping, and predictive models.The eventual goal should be to develop your own systems and strategies.
• Basic math skills. We do need to be able to carry out certain calculations.
• Sense of value. We need to be able to identify value in the betting markets that can only really be developed with time and experience.
• Good bankroll management. It is an essential sports betting skill and involves setting aside a sum of money that should be used exclusively for betting purposes. Then, some rules must be set in place for how much to stake on each bet placed.
• Emotional control. Betting for profit is no room at all for emotions!

Here are the top bookmakers based on ratings and reviews on the Internet and my recommendations:

*****

• Pinnacle
• Bet365

****

• Betfair Exchange
• Betfair
• Matchbook
• Asianodds
• 188bet
• 18bet
• Sbobet
• William Hill

In addition, you can bet at local bookmakers with a valid license status.

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