There are a number of factors that go into you refining your betting strategy, which, when correctly implemented, will result in your being able to see far more profitable returns over the long- and short-term than simply relying on luck and gut feel would.
1. Understanding the Concept of Value
This can be considered absolutely critical: if you have not managed to reach an understanding of betting value, you are almost certainly unlikely to be able to bet on sporting events and see any kind of profit.
While you may be certain that a favourite featuring odds of 1.45 is a surefire winner, are you as sure that these odds are giving you any value?
Many times, many bettors have said that there is simply no way a particular team will not win a game, but, although they may well be legitimate favourites, is the probability of their win better than the odds that the online bookmaker is offering?
Calculating value is a very simple idea, but the majority of the betting public has not understood this, and perhaps this is a blessing in disguise. It is this naïve, or square, money that is likely to skew the market, and this means that there are a number of excellent opportunities for bettors who are able to recognise value to take advantage of.
2. Brush Up on Your Basic Maths Skills
If you have ever entertained, or proved, the idea that you are not a numbers guy, then you should probably not be a betting one either. Although there are bettors who somehow manage to make successful wagers relying totally on instinct and feel, this is very rarely the case, and long-term success requires that you have a feasible staking plan in place, with a thorough understanding of what the odds for any given event reflect as far as probability is concerned.
3. Understand How the Bookmakers Make the Odds
Although it does depend on the event’s popularity, online betting NZ bookmaker’s odds, and bookmakers based across the globe will generally reflect what they feel Joe Public is most likely to play, not the actual likelihood of any particular outcome. While it is certainly not that simple, in general, bookmakers will have set odds in order to attract wagering on either side of the odds which have been set, allowing them to balance their liability and make their commission.
Research and Knowledge is Key
The basics to any betting strategy is that it relies on the facts that you have been able to glean as far as the bookmakers offering the best odds, the widest array of markets, and a thorough knowledge of the sport and event you are interested in placing a bet on.
There is an enormous array of knowledge, inside info, and tips available for those who take a little time and trouble to find it, and you will very quickly be able to see the result of any time you decide to put in as far as this kind of homework is concerned. Find what works for you!