How can you stop losing money on football betting or betting in general? Betting on football can be tough, especially when you’re new to the whole thing, and you haven’t had much practice. Even one unlucky bet could burn a hole in your wallet, and a losing streak can be debilitating. And so, we have come up with a couple of pointers that should help you stop losing money on football betting.
How To Stop Losing Money On Football Betting
Here are some of the strategies you can adopt to ensure that you stop losing money and start making a profit.
1. Don’t rely on emotions
When you first start betting, it may be tempting to bet all your money on your local club or favorite team. This is a rookie mistake. Although it may be hard to accept at first, your favorite realistically may not be the stronger team on the pitch. You need to detach yourself from emotions and look at the situation logically.Get rid of any personal biases, and stake your money on the side that has the better chance of winning. This sometimes may, unfortunately, mean wagering on a team you despise. But hey, you can bet on any team, while still supporting your side.
2. Use betting strategies
There are plenty of betting strategies that you can choose from that lowers the risk and increases your profits. You can, for example, dabble with arbitrage bets, or you can even try hedging. Progressive betting can also be profitable if done in short bursts. Find a betting strategy that suits you, and go all in.
3. Don’t chase losses
Chasing losses can be detrimental because sometimes, we might not even know we’re over-doing it. Chasing losses is when one bets more to make up for a previous loss. Although this might work at the time, it could lead to a perpetual never-ending endeavor of trying to make up for the last lost bets.
4. Look for value bet
Once you learn how to spot a value betting situation, the profits will start rolling in. If a bet is priced at less than what it’s worth, then it has value. This happens when a bookmaker miscalculates the odds. Say a team has a 70% chance of winning a match, but the bookie thinks that they only have a 50% chance of winning. They would set odds that echo this probability, and the prices would reflect the same. But you know that the team has a good chance of winning, so you can stake more money on them, and end up with a more massive payout.
5. Keep a record
Take our word for it, a record of all your previous wins and losses will prove to be incredibly helpful. A good record will reveal to you patterns that would have otherwise gone unnoticed, like if a team tends to win against other specific teams, or if their form gets worse while playing in particular weather conditions or stadiums. You’ll know what works and what doesn’t, and you will be able to reapply those actions successful in the past.You can stop losing money and instead, start making money on betting and football betting by following these five simple steps