It doesn’t matter if you’re partial to playing the lotto, placing sports bets or attempting to master a table game, there are tactics you can employ to boost your chances of walking away with more money in your pocket. If you would like to frequently win a game and increase your bank balance, here are the top ways to improve your online betting results.
Set a Budget
According to a recent study, six in ten Canadians gamble each month. If you are one of the many people who bet on or offline each month, you will likely not want to waste a dime when playing the likes of bingo or poker.
The same study found that 43% of Canadians spend as little as $1 to $20 per month, while only 14% spend between $20.01 and £100 on gambling or gaming, and 3% will exceed $100 per month.
Whatever bracket you fall into, you should only bet with money you would be happy to lose and view any win as a bonus. You could even add any winnings back into your bankroll, so you can play various games online without placing pressure on your bank account.
Understand The Game
Many people make the mistake of betting on an event or game due to superb odds or hype surrounding a tournament, but this can lead to zero return. While the likes of the lotto are rather straightforward, there are some sports and casino games that are a little complex in nature. If you don’t understand the rules or odds, you will increase the likelihood of losing a wager. For instance, if you want to secure a winning hand during a table game at an online casino, you must understand the various rules, whether you’re playing video poker games, blackjack or baccarat.
Poker is, of course, the most popular card game in the world, but there are many varieties available and some versions are harder than others. If you’re new to the world of poker, you’d be wise to start with Texas holdem. In addition to learning the basics of the 52 deck game, you must aim to master the blinds and betting rounds.
Many online websites currently provide the option to play free games of poker, which is worth a try before you place a bet. You’ll be able to identify where you are going right or wrong before playing against real players, which can increase your likelihood of winning a pot. You’d also be smart to read poker guides for beginners, such as Getting Started in Hold’em by Edward Miller or Theory of Poker by David Sklansky.
Once you feel confident with the game, you could enter higher stakes tournaments or could try your hand at other complex variations, such as Omaha, which is arguably the hardest card game of them all.
Learn About Odds
While some games heavily rely on lady luck, others will feature sporting odds, which can help you to make an informed decision when placing a bet. If you’re not confident with your maths skills, you’re not going to be confident when making a wager.
While trusting your instinct might occasionally work, you will experience the thrill of winning much more if you understand how odds can determine probability. Always review the betting odds before placing a wager to identify how much money you could win.
For example, if you are watching a horse race and a runner has a 4/1 chance of winning and you bet £1, you will win £4 if it crosses the finish line first. It also indicates you will have a 20% chance of winning, as the odds will be calculated by 1 / (4 + 1) = 0.20.
To help you understand further:
Avoid False Courage
Many people allow a winning streak to go to their head. While you might have secured many recent big wins, you shouldn’t let it give you false courage. By allowing the winning bets to convince you that you’re better than you are, you could potentially have too much confidence when placing bets in the future. For example, you might fail to make an informed betting decision and wager too much money, which could damage your finances. It is, therefore, essential to analyze a potential bet and stick with a plan.
For example, if you are planning to bet on football, you should consider the below factors:
It is, therefore, a wise idea to look beyond the sporting odds on screen and to make a judgement based on the latest sports news or your perception of their recent performances.
Unless you are confident with the outcome of multiple games, you would be wise to avoid multi-bets at all costs. If you are unfamiliar with these bets, a multi-bet combines single wagers into one bet, with the odds then multiplying after each leg. The more legs on a multi-bet, the bigger the risk and reward. So, while they can provide a big score, they can also increase the likelihood of you losing your money.
For example, rather than placing a wager on one or two sports teams, they might choose a 20-fold accumulator. While an accumulator can lead to a substantial payout, the odds will be against you, as it only takes one sports team to let you down. It is, therefore, a wise idea to focus on single bets for a higher chance of boosting your bank balance.
Build Your Bankroll
If you want to make money while having fun when placing a bet, you must start with a sensible bankroll and build gradually. Of course, the best way to do so is to improve your skillset, so you can successfully beat your opponents. For example, if you want to win small or large poker hands, you will need to thoroughly understand the rules and gain experience to become a force to be reckoned with at the virtual felt.
Once you feel confident in your ability, you could move away from microgames and enter high-stakes tournaments. While you will likely be going up against other confident players, your skills and experience could help you to grow your bankroll significantly.
It is, however, vital to have the right mindset when building a bigger bankroll. For instance, if you have a $1,000 bankroll but plan to play with $500 this month, your bankroll will not be $1000, it will be $500. If you then spend a cent more than the $500, you will be gambling with money you cannot afford to lose. Consequently, this can lead to you quickly destroying your poker fund, which you are aiming to grow. So, if you spend the $500, avoid the temptation to dip into your bankroll and accept that it’s not to be this month.
Never Bet with Your Heart
It is crucial to always bet with your head and not with your heart. While you might want your favorite sports team to win more than anything, you shouldn’t bet on a poor-performing club. While there is nothing wrong with rooting for a team throughout a season, you shouldn’t be willing to wager money unless you are 100% confident in their ability.
While there is always a risk when it comes to betting both online or offline, there are actions you can take to increase your chances of winning money and having fun. So, if you want to increase the likelihood of winning a small or large sum on a wager, you would be wise to follow the above top tips, such as building your bankroll, skipping multi-bets, and understanding a game inside and out.