Can You Bring Casino Tactics To Sports Betting?

0
591
Sports Betting
Image source pixabay

While sports betting and casino gambling are two completely different things, there are, in fact, several proven casino tactics that can actually be applied to online sports betting. Many of these tactics relate to responsible gambling & money management, as well as understanding the odds, knowing when to stop, and how much to bet. 

Money/bankroll management & responsible gambling tools

One of the most effective casino tactics that can also be used in sports betting is the money management tactic (aka bankroll management). In other words, how much money you are willing to spend and how best to spend that money. Never spend more than you can afford, and NEVER chase your losses. Let’s just say that you can afford to lose $/€/£20. Stick to this limit, and if none of your bets come in, do not immediately deposit the same amount to try and win it back. 

There are some extremely effective bankroll management and responsible gambling tools available at 10bet online sports betting in South Africa, and when used correctly, they are a great way to stay in control of your spending. For example, when you sign up to this fully licensed sports betting site (which also has an online casino product available for fully registered members), head straight to the ‘safe gambling tools’ section or to the ‘my account’ section to set personal limits that can stop you from overspending. 

Setting deposit limits

It would be a good idea to set deposit limits, spending limits and/or session time limits, and then once you have reached these limits, you won’t be able to deposit more, spend more, or continue gambling for X amount of time. Let’s just say that you set a $/€/£20 monthly deposit limit on the 15th of the month. If you deposit the full $/€/£20 on the 15th, you wouldn’t be able to make another deposit (which could also then only be a maximum of $/€/£20) on the 15th day of the following month. Always remember to set reasonable limits. 

Understanding the odds

Before you place a real money wager on your favourite sports, it would be a good idea to learn about the odds for each individual market. You can also choose between displaying the odds in American/Moneyline odds, UK fractional odds, or European decimal odds. For example, if Manchester United are priced at +1000 in American/Moneyline odds to beat Liverpool in their next fixture, it works out to 10/1 in UK fractional odds and 11.00 in European decimal odds. Similarly, a +10,000 outside bet is the same as a 100/1 (UK fractional odds) or 101.00 (European decimal odds). 

Also, don’t waste your money on these outsider bets with huge odds. If you keep placing your money on 100/1 bets, very few are likely to return a profit, and you could lose all of your money reasonably quick. Try to stick with the lower odds that are more likely to return a profit, albeit a small profit. If you place a $/€/10 bet on an outcome that has -300 odds (1/3, or 1.33), you are more likely to win this bet than if you were to place a bet with +10,000 (100/1 or 101.00) odds, and so on. 

What other casino betting tactics can you bring to sports betting?

Some of the other casino betting tactics that you can bring to sports betting are simple things, such as knowing when to place a bet and knowing when not to place a bet. Also, if you’re going to place a bet on a football game, it would be a good idea to know a little bit about the game before you place a wager. The same can also be said about any other sport that you’re looking to place a wager on. 

Don’t bet on a sport that you know nothing about. You should also take a few minutes to find out what all the different betting markets mean before placing a bet. 

If you do get lucky and win big on a bet, just as you would in a casino, you may want to think about cashing out either all or part of those winnings. In other words, you don’t want to spend all of your winnings on betting again. You could put aside some of this cash for future bets and withdraw the rest to spend on other things. 

Let’s say that you win $/€/£130 from an initial $/€/£10 stake. You could perhaps withdraw the $/€/£100 and leave the remaining $/€/£30 in your account so that you don’t have to make another deposit. Simple things like this can help you stay in much better control of your spending when gambling online.