Sports betting is a popular pastime millions of people worldwide enjoy. Sports betting can increase the entertainment value of a sporting fixture and provide a small reward for those lucky enough to make successful bets on a specific fixture.
If, however, you would like to dig a little bit deeper into sports betting to find advanced strategies which can help you minimise risk, then you have come to the right place. There are multiple sports betting strategies, each with its own unique benefits and drawbacks and in this article, we are going to go through the most popular so that you can find the right strategy for you.
Matched Betting
Matched betting is a betting strategy based on mathematics which involves covering all outcomes of a sporting event, using free bets, to lock in profits. First, you must place a qualifying bet which involves placing bets on all outcomes of an event with similar odds in order to try and break even. The goal of a qualifying bet is to unlock free bet promotions. Make sure to check if there is an ongoing free bet promotion, and read the terms and conditions to ensure you qualify for the bet successfully.
Once you have unlocked the free bet promotion, you can then repeat this process. The goal is to find a sporting fixture with favourable odds yet again and place a bet on both outcomes. When doing this, you need to use a betting exchange to place a lay bet, which is essentially betting with other people and predicting a team to lose or draw. Once all of these steps are complete, you should be able to lock in a small profit; if done consistently, this can lead to a reliable stream of additional income from sports fixtures.
Value Betting
Value Betting is a strategy used in sports betting which is very different from matched betting due to the fact it does not guarantee any rewards and is instead a longer-term strategy. Value betting involves identifying opportunities where the odds offered by a bookmaker underestimate your perceived probability of an event happening. To find these opportunities, you need to combine your knowledge of the sport, statistical analysis, market awareness, and more.
The end goal of value betting is to consistently place bets on fixtures with overvalued odds to find discrepancies in the betting market. Now, this may seem like a flawed strategy that will not wield profit; however, there is some mathematical backing behind the method. For example, let’s say there is a coin toss with each outcome being valued at odds 1/1, and the chance of each outcome is 50%. If the bookmaker were to offer odds of 2/1 for heads, a value bet would involve placing a bet on this outcome as even if not successful the first time around, over time, this should lead to theoretical profits.
Value betting is not for everyone, however, due to the fact that it still requires some elements of luck. On top of this, value bets are also quite difficult to find, as bookmakers will try to correct any discrepancies as quickly as possible.
Dutch Betting
Dutch betting is quite similar to matched betting in that it involves using mathematical systems to place multiple bets on all outcomes of a sporting fixture to try and lock in profits. The difference, however, is that Dutch betting does not utilise free bets and instead requires punters to calculate an appropriate wager for each selection in a way that, regardless of the outcome, the reward will be greater than the total amount bet.
Dutch betting can be very difficult to pull off, and even when it is successfully completed, it will typically result in minor profits. However, with this being said, it is also a low-investment strategy that does not require you to use the money for a qualifying bet or risk losing money due to luck, like a value bet.
Arbitrage Betting
Arbitrage betting is a betting strategy that is once again similar to matched betting and, therefore, Dutch betting. It involves placing a bet on all outcomes of a certain sporting fixture; however, this time, you do it across different bookmakers where there are discrepancies in the value of the odds.
You need to find a fixture where the odds across multiple bookmakers are in your favour, similar to how you would in value betting. You are looking for games with an implied probability of less than 100% compared to odds for the opposing result at another sportsbook. By doing this, you create the opportunity to make small profits for yourself regularly.
Hedge Betting
Hedge betting is a betting strategy primarily used to try and reduce or offset potential losses from a bet. Hedge betting involves watching your chosen fixture and reacting to the match in correlation to bets you have already placed. For example, let’s say you predict Team A to win; however, after 30 minutes into the match, you can see that Team B is majorly outperforming them; you may want to place a bet on Team B to win in order to reduce the losses you would receive if this outcome were to come true.
Hedging is essentially the act of sacrificing some potential profit in order to provide yourself with a small safety from losses. Hedging does not guarantee any profits and is instead a risk management strategy.
Summary
These are the most popular betting strategies that we recommend to those wanting to get more from their betting sessions. It’s important to remember always to gamble responsibly and never bet more than you can afford to lose.
