I. Thou shalt find the best odds
Shop around for the best odds. Every cent counts, and ultimately it may mean the difference between you posting a long term profit or loss. Sign up to all of the bookmakers you can to keep your options open.
II. Thou shalt exploit promotions
Betting promotions, like money back specials are designed to entice new punters and get them used to betting. Bookmakers aren’t too upset if these lose money on a one off promotion, as they expect to make it back in the long term. As long as you don’t fall victim to this, you can make money. Check previous matches to see how frequently the ‘bonus offer’ would have paid off in the past, and if it is more than the bookmaker margin (usually 5-10%) it can be exploited.
III. Thou shalt bet against thine neighbours
Bookmakers have a significantly better record than their customers. If a particular outcome is the choice of the masses then usually the bookmakers will offer poor odds to capitalise on their bias. Think about where the money is going, that influences the market and bet against it, the bookmakers won’t be the only ones capitalising.
IV. Thou shalt bet for the long term
If you have come up with a system that you have tested, and has been working, don’t let a bad day or a bad week deter you. Remember that a top professional sports better than wins 55% of the time loses 45% of the time. That might mean days where they repeatedly lose, but all you should worry about is if you are making money long term.
V. Thou shalt arbitrage
The holy grail of sports betting is an arbitrage. Test it using our calculator and if it exists make sure you snap it up. With automated odds movements, an opportunity will not exist for long.
VI. Thou shalt not worship false gods
And by this we mean online tipsters. The market is flooded with online tipsters who come and go quickly after short term positive results (and a prompt fall from grace). There are also a lot of fake accounts claiming to have made money and show you screenshots – be wary. Not many tipsters can significantly beat the market for long periods of time, and you should be wary of their motives before jumping on board.
VII. Thou shalt not risk gold for silver
It is rarely a good idea to bet on any outcome with odds lower than 1.10. To make the bet worthwhile you have to bet a significant amount, and often these bets are the ones you cannot afford to lose
VIII. Thou shalt not bet with thine heart
Betting with the heart is one of many biases that affect punters, and as the average punter is typically the risk seeking type it affects them more than the layman. Beware of any bias you might show to a team that is based around familiarity, desire, or any other factor that might impair your judgement. Most professional punters will not support any team, or will be strict about not betting on any team that they might support. However, knowing a lot about how a team performs can give you an advantage over the market – you just need to evaluate whether that is because of knowledge or bias. Heed the warning, and make a judgement call, lest ye’ be judged.
IX. Thou shalt not be affected by wins or losses
Chasing losses is one of the worst mistakes a person can make, but equally bad is not placing a bet you otherwise would because you don’t want to ride your luck, or feel that it ‘isn’t your day’. You will have good and bad days, but what you need to remember is that if a rational minded you decided a bet was value at the start of the day, it likely still is at the end of the day.
X. Thou shalt not get banned
Bookmakers will be on the lookout for people that only ever bet on promotions, are betting from multiple accounts, or are clearly systematically betting (e.g. intermittently on obscure events). We suggest you take advantage of bonus offers and bet according to whatever system you use, but also don’t be afraid to have a small flutter on a game you are watching. Even if you lose a small amount on these bets, it’s well worth it to maintain access to lucrative offers from that bookmaker.