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The goal for sports punters is to earn a profit whilst enjoying our favourite sport. The sad truth is that for many gamblers, this really is an elusive dream. However by developing and carefully following a stratagem anyone can make this dream a reality.
You will find two factors to consider to benefit from sports gambling:
Bet Selection - Staking Plan - Bet Selection
The very first, Bet Selection, is obvious - we need to back winners at least several of the time. Let's consider Horse Racing, anecdotally there are plenty of professional punters that earn an appropriate living from picking horses, although the key word here is professional. Research and analysis of each horse within the 59 racecourses throughout the UK takes a sizeable amount of time and experience. If you want to become successful then it is a full time job! For the majority of us this implies we have to use the advice of experts to do several of the legwork for us.
Horse racing has no end of self-proclaimed "experts" on the web charging up to Ł100 per 30 days. When selecting a horse racing tipster the most significant factor we need to consider is long-term results.
The internet is awash with tipsters that have had one good month but then go on to post a loss for the next six - but you will only see this one month on their own home page! Never follow any tips without first checking the tipster's full result history. Choose a tipster who publishes all their horse racing tips history, ideally where the outcome of the tips are published the next day in addition to a complete history of all their tips.
Take a look at a Tipster Proofing site for example Racing-Index who grades the outcome for a number of tipsters. Consider which tipster gives you gave for money and fits with your own betting profile - can you actually place the 100s of tips each month some tipsters require?
Following tipsters alone is not likely to earn us riches - the best tipsters are locked out for new members or charge such high rates that any profits are lost immediately. The solution is to create our very own system using tips from expert sources combined with our own research. This is the strategy successfully utilized in greyhound racing by followers of the site. As with most things; the more you placed into your system the better you can get out.
Once we have a betting strategy in place it really is time to look at a staking plan. The simplest is Fixed or visit Braintonica Level Stakes where we simply bet the same amount, by way of example 2% of our initial betting bank, each time on our selected horse, however we would want to increase our wagers as our betting bank grows. This leads to Percentage Staking where a share of the current betting bank is wagered each time. This implies even as we win our stakes are larger and conversely the stakes shrink when the betting bank decreases.
On the other hand, intuitively we know these staking plans to be overly naive since we will be putting the exact same amount of cash on a horse with low odds in comparison to a horse with good odds. Since we are looking to maximise our profits we should be putting a larger stake on a low odds bet as the return will be less.
To discover the optimal staking plan we could take a correspondence course in statistics and dedicate several years into research. Fortunately we reside in age where this research is at our fingertips. From probability theory we possess the Kelly Strategy where the optimal percentage of our betting bank is calculated from the odds of the bet and our own estimate of the probability of the horse winning.
Using an online Kelly Strategy Calculator just feed in the values to obtain the percentage of the betting bank to put on each horse. Now the Kelly Strategy can give us some scary percentage stakes if we have an initial run of high odds horses so we could adapt it to a Half Kelly Staking Plan where we wager half the percentage advised through the Kelly Strategy. This would bring about a slower accumulation of gambling profits but a less hair-raising ride.