This article first appeared in the Mar/Apr 2010 issue of World Gaming magazine.
Betting on sport is big business. There has never been a better time to be a sports bettor than right now as sport betting organisations are vying to place your bets like never before. Follow a few simple guidelines and you could be cleaning up on sports before you know it.
Sports betting in Asia is already a significant industry, but many pundits have identified the potential for enormous growth in the next few years. In the well established markets of places like Europe, America and Australia, it is also still a growth industry which shows no sign of slowing. The difference between the regions is that Asia is a younger market and is not as clearly regulated. The model that many Asian countries may eventually adopt will be one where reputable sports betting agencies are licensed by the government. This is how the Hong Kong Jockey Club operates and other jurisdictions may well follow in the future.
Bet with your head not your heart
What you need to do to be a good sports bettor:
- Start with a sport that you know very well. The best way to beat the bookmaker is to bet on a sport where your knowledge is better than theirs.
- Always look for value. Don’t bet on short-priced favourites all the time. Chelsea should beat Portsmouth every time they play but what sort of price are you going to get? You want to always maximise your profits. If you think Chelsea are certainties you might want to take them at the Asian Handicap and at least get a better price. Things like future bets (long term bets usually to win a competition) can be great. You can cheer on a champion team every week because you have backed them at the start of the season to win the title.
- Bet on the team you think will win, not the team that you think should win. This sounds like a silly thing to say but good sports bettors can smell a good bet a mile off.
- Information is always the key. Make sure you find all the information you can for issues both on and off the field. Maybe there has been a change of coach or some internal problems with a club. Maybe a tennis player has a sore ankle. If you get the information quickly, don’t delay; be the first to get on at the good price before the price changes.
- Bet with your head not your heart. You might find that it is hard to bet smartly on the team you support. Others find it easy to bet on their team as they know more about them than any other teams in the competition. Just make sure you are making informed decisions.
- Get a good price. Shop around and find good value. This is covered in more detail in choosing where to bet. If you only ever bet with one bookmaker then you will only get the price they offer. If you have five accounts then you can shop around and get a better price. Getting a few cents better price on a bet might not sound like much, but in the long run it can mean a huge advantage that turns a long-run loser into a long-run winner.
- Keep good records. This way you will be able to tell where you are winning and where you are losing. All the good pros keep records so get with the system. Who knows, you might be cleaning up on the golf but getting murdered on the football; good records equals good information.
- Get together with some of your smarter friends and talk about sport. If you combine information together then maybe you will find a small piece of information that gives you the edge. If you have a friend that knows one sport really well ask his advice on that sport. Then you can help him out on a sport you know better.
- Some professional sports bettors bet on nearly every game and others only bet those few games where they feel their bets have a very large advantage. If you don’t bet enough you are going to find it hard to win. If you bet on everything then you are also going to find it hard to win. Try to find the right balance.
What to look for in a bookmaker:
- The first thing you should look for is a reliable bookmaker that will actually pay when you win. You won’t have any trouble giving a bookmaker your money but with some disreputable bookmakers it can be harder to get your money back when you win.
- Try to look for an establishment that has a license and then have a look where that license is from. The more reputable the country the more confident you can be that you’ll be paid.
- The bigger the organisation the better. If a bookmaker has a huge turnover you can feel assured that people are actually getting paid when they win. You will also tend to have a better price and more variety in your betting from the bigger bookmakers.
- Internet bookmakers are excellent. It means that you can get a bet on whenever you want. You don’t have to rely on someone answering the phone, you don’t have to deal with incompetent phone operators and there is no language barrier to worry about (assuming their website is in your language).
- Find a bookmaker that makes it easy for you to move money in and out of your account. Credit cards, bank transfers and internet deposit portals are all good ways to fund accounts but you need to find a way that works for you.
- Some bookmakers work well for some people but not for others. You might love betting on American basketball or tennis but your bookmaker specialises in English Premier League betting. Many top sports bettors bet on several sports and therefore need a good service across the sporting spectrum.
- And to reiterate – have more than one account. If you have a few accounts you will find it easier to shop around for the best price.
Follow these guide lines and you will certainly get more out of your sports betting. The marketplace is flooded with bookmakers looking for your business so bet smart, with the right organisation, and long-term you will find it hard to lose.
