Every punter, professional or amateur, systematic or occasional wants one thing: to make money from wagering. But thinking it more clearly, it becomes explicit that all punters want another thing as well and this is to minimize the risks of losing money. That is because all bettors know that there is an inherent element of risk in every bet placed and so it is not only about making money, but in many cases it is about avoiding the risk of betting losses. One of the most profound and frequent strategies employed by bettors in reducing the risk of losing, is getting as much information about games and bets as possible by following betting experts, such as James Akerele, who have greater knowledge, experience and understanding of the betting world and can provide more substantial and useful tips.
But while this strategy is a fundamental ground basis for shielding yourself from the risk of losing big, it is not enough for minimizing the risks of losing overall or for maximizing the potential for winning big.
There are some straight-forward and definite things that punters can do to make sure that they have – at least- placed ‘poka-yokes’ or preventive measures. So, if you want to learn how to avoid risks of betting losses and become competent in this, then go through the following list of the five strategies.
1. Don’t overbet your bankroll – be more conservative
If you don’t bet much, you are not running the risk of losing much. This may sound old-fashioned and antiquated, but it is the absolute truth. Bankroll management and generally an effective management of wager money, is always a good way of efficient betting.
2. Follow a flat-betting approach, revise, review, control and change only when necessary
A flat-betting approach goes hand-in-hand with money management in sports betting. Don’t go change the size of bets (the unit bet) every time you experience big winnings or sudden losses. Don’t bet more when you are overwhelmed by consecutive wins, let’s say, and certainly don’t get carried away by your overconfidence on your betting skills. Flat-betting is critical to save you from losing a lot of money. Review and revise your flat-betting approach periodically, and change the size only when the ‘data’ tells you to do so.
3. Don’t chase losses. Know when ‘not to bet’
If you are an emotional bettor, driven by your impulse, it is more likely that you will chase betting losses. But chasing losses brings you much closer to losing your money and leads you to bankruptcy. So, one basic way to avoid the risks of betting losses is to stop chasing already generated losses. It is very important that punters know when ‘not to bet’, just as it is critical to know ‘when to bet’. Sometimes, they should better leave it as it is, than go after what they’ve already lost.
4. Be cautious when betting on absolute favorites that are coming off many wins or on underdogs that are coming off a losing streak
One very common mistake many punters make – especially beginners, but in some cases more experienced bettors as well- is to choose to bet on a team that is coming off a winning streak or a losing streak, just because they are considered to have a stronger dynamic towards one or another direction. Such bets are usually mis-valued by online bookmakers, which means that they are not reflecting the correct odds of the outcome and so, bettors end up with ‘bad values’, because the teams are either overvalued or undervalued due to their recent performance.
5. Never bet before you shop for odds
This is equally significant with the previous four strategies, despite the fact that it may sound trivia as a recommendation in the first place. But the truth is that there are many bettors who rely on one or a few sportsbooks and they place their bets without giving it much of a go for researching and shopping around for better options. Bookmakers have different prices for the same bets and this is what often makes them stand out the competition. So, in order to prevent your bankroll from going bankrupt or losing big, you need to definitely look for these different prices and choose those that have the most value.