A guide to smarter sports betting

Sports betting is big business and can be enticing for the novic, as well as the seasoned pro alike. Whether you like to spread your net wide or focus on your favourite sport, there’s a tangible thrill of bagging a winner.

Betting and winning are as much about luck as they are about studying the form, right? While there’s no 100% guaranteed formula, there are steps you can take to improve your chances with today's horse tips. Here are a couple of tips for smarter sports betting:

Know your limits

It may seem obvious, but the first step to smarter sports betting is to have a clear line as to your maximum budget. Keep tabs on it as you go along and know that you are prepared to step away. Always remember the adage – never bet money that you cannot afford to lose.

Work on your knowledge

When it comes to sports betting, having an insider perspective on the sport is going to give you a head-start. Especially if you’re new to betting, it’s wise to start with just one sport and work to get to know it well. Do your research, study the form and past performances, whether that’s of the players, teams, racehorses or jockeys and glean all the information you need to get more of an edge. Being good with numbers is also going to be an asset, so if you are a bit rusty, do some practice as you want to be able to make sense of the stats, odds and probabilities you need to pick a potential winner.

Develop the right attitude

Knowing your betting attitude and fine-tuning it so you can keep to your betting plan will be hugely beneficial in the long run. Do you like to chase the underdog in the hope of a bigger win for your longer odds wager? Or do you prefer to like to place more short odd bets for a more likely return? Or perhaps you like to mix between the two.

Whichever way you like to play, it’s important to have the right attitude and never be tempted to chase your losses but play for the long game which could see you build up a steadier profit over time.

Place a bet with your head, not heart

In the heat of the moment, this can be one of the hardest pieces of advice to stick to, especially if you’re a fan of a particular team or have a fondness for a certain racehorse. Loyalty, however, can cloud your judgement and so, if you can’t place the bet you know you should on a particular game or race, now’s the time to abstain.

Keep a record of your bets

Particularly if you’re on a bit of a losing streak, reviewing your betting track record may not sound like fun, but it’s where you can glean a host of invaluable data and information. Keeping a record of every bet placed and the outcome will build up a picture of your betting successes and failures. And if you make the time to review it every so often, it can help to fine-tune your long-term strategy, enable you to see any repeat mistakes and get your smarter approach to sports betting back on track.