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videos. How to make money in betting? You have often heard the phrase, “The House
Always Wins”, or that gambling is a highly reliable way to lose money. The sad truth
is that gambling is addictive and the longer you gamble, the lower your chances of making
money gambling. In this video, we reveal some secrets to gambling
and how you can apply them to ensure you do not lose money while gambling.
Statistics never lie Statisticians have shown that gamblers walk
away with 5.3% less money than they had when they started every time they step up to gamble.
The statistics for amateurs are even worse. Amateur gamblers lose between 10 and 20% over
the course of their bets. So what’s the right strategy to make money
gambling? 1. Have the right attitude
A popular phrase here is the one that goes “only gamble with money you can afford to
lose”. The meaning in this phrase is the first tip you should apply in betting. You
should set the amount that you will spend e.g. I will spend up to $100 a month gambling,
and stick to this rule. Whether your limit is $20, or $50, or $100 as your limit, depends
on your own personal income and expenditure equation. So, make sure that you set the right
limit for your situation. 2. Understand basic math
If you probably cannot remember how to solve this calculus equation, you might never be
successful gambling. Sorry, we are just kidding. You do not necessarily need to be a maths
guru, however, you probably shouldn’t be betting if math scares you.
To give you a simple illustration, gambling odds are nothing more than expressions of
probability. Let’s start by defining probability. Probability is simply the likelihood that
an outcome will happen. Probability ranges from 0 – 1 and the higher the probability,
the higher the chances of it happening. It can also be expressed as a percentage between
0% and 100%. Pick an example of raining. When your weather app says it is 80% chance of
rain, it means that while the probability of rain is high, there is still 20% chance
that it will not rain. Coming back to odds, odds are simply an expression
of probability in the form of “X to Y”. Let’s take an example of rolling dice. With
every roll, you will land on 1 out of the 6 sides. This means that the probability is
1/6=16.7% or the odds are 5 to 1. If you bet that the dice will land on 1 and it does,
you would win 5 times your wager. Using this example, if you bet five times and win once,
you win five times your wager. Meaning you would break-even on these 5 bets because you
will lose 1 dollar every turn but win 5 dollars on the winning bet.
Professional gamblers understand these statistics and use it in preparing their betting strategy.
They use this understanding to apply a strategy that tips the odds to your favor.
3. Fall in love with the ugly duck Before we tell you the story of the ugly duck,
thank you for watching this video and just another quick reminder for you to subscribe
to get more videos similar to this one. Do you remember the story of the ugly duck
that formed part of many children’s favorite stories? The story was simply about a lonely
little bird who suffers because all other ducks thought he was ugly. He suffered this
until when he later matured to a beautiful swan, the most beautiful bird of all.
In sports betting, you need to ensure you find the ugly ducks. Professional gamblers
find it better to wage on the team that nobody likes. This may sound counter-intuitive, but
it is a very profitable strategy. The more the team is hated by the general public, the
higher the value it presents to professional gamblers. However, this doesn’t mean all
under-dog teams are going to win. This must be coupled with good analysis, for example,
identifying a team that has had a long winning history but is currently on a bad run. This
team is likely to have higher odds and when they win, will be very profitable for those
who placed a bet on them. 4. Don’t hope for the big score
Multi-bets, also referred to as, teasers, or parlays, are often loved by many gamblers
because they have high-reward with a low-risk. However, remember for the gambling company,
they are low-risk and low-reward. You may be asking yourself, how is it possible
that it is low-risk and low-reward? Look at it this way. When you place a multi-bet,
you are decreasing the probability significantly. If you pick two games with 50/50 probability,
the chance that this bet will be in your favor drops to 25%. If you remember our earlier
class on math, if the probability drops to 25%, that means the probability for the gambling
company are 75%. So, it might be a low-reward, but because the odds are in the favor of the
house, it is very lucrative for the gambling company.
However, you should not take this to mean that multi-bets cannot present value for the
gambler. When you locate the right multi-bet, then you can get tremendous value. And this
is why it is important to build your gambling strategy then apply it to locate true value
and get the high returns with low risk. 5. Always look at the long-term
Sports betting is a long-term game. It is about understanding when to bet on a team
and how much to wage on them. If you listen to the stories of professional gamblers, they
started out by betting small amounts, then steadily increased this as they become more
experienced, then soon enough they started making decent money. If you continue doing
this consistently, you can even make a decent living out of sports betting.
Never forget the betting is a marathon, and not a sprint. Coming back to the example of
our dice, if every time you predict the number correctly you earn 5 times your bet amount,
you simply need to win more than 60% of the time to be profitable.
Here is some simple math. If you bet $1 on each outcome, and you win 6 out of 10 tosses,
you will have spent $10, however, will have gained $5 on each correct roll, which give
you a total of $30. Also, remember that you could have a long losing streak before you
start winning. Sticking to this same example, you could have 4 losses before getting the
6 that give you a good profit. So, make sure you are prepared to deal with
losing streaks, winning streaks, and swings. This starts with deciding how much money you
are willing to lose and sticking to a betting strategy. Bonus tip – Understand how bookmakers make
odds I’m sure you’ve had enough of the famous
quotes we have quoted in this video. However, here is a last one.
“If you know the enemy and know yourself, you need not fear the result of a hundred
battles. If you know yourself but not the enemy, for every victory gained you will also
suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.”
― Sun Tzu, The Art of War Whenever you are making money, there is someone
on the other end losing. While it is the bookmaker or gambling company that pays you, they pay
you using the money that someone else waged and lost. By understanding this simple principle,
you can know how to make money betting on sports events.
Bookmakers will set their odds to attract betting on both sides of the odds. This enables
them to balance their liability and increase their winnings. Bookmakers make money based
on low margins but on high volumes, which is why they often provide incentives for new
clients to sign up. This means that they simply want to attract as many gamblers onto their
system which helps them balance out their liability.
As a smart gambler, you should know how to identify great opportunities where the opinions
of the public are to the other side and choose the right bookmaker who applies simple and
honest odds calculation strategies. Conclusion
That’s our last tip. We hope that you have enjoyed this video. As I prepare to end this,
I would like to remind you that betting is extremely high risk and the chances of losing
all your money are high. Therefore, it is important to set a betting strategy. I hope you have enjoyed this video. Give us
a thumbs up if you liked the video. If you didn’t give us a thumbs down. Don’t worry,
we can handle it. And do not forget to subscribe to our channel to get more inspiring and educative
videos. Thank you for watching.