It is Imperative to Diversify your Betting Approach
If you’re treating sports betting like a one-track strategy, you’re effectively reducing your ability to win. Yes, it can be easier to take this kind of approach… but the truly savvy bettor thinks in broader terms and maximizes their chances of success by varying their tactics.
Now, I’m not suggesting that you go out and start spreading your bankroll across every betting option that takes your fancy—far from it. I’m just suggesting you mix it up a little and try different approaches to increase your chances of winning. But how can you go about doing that?
Let’s break it down.
Why Sticking to One Market is a Losing Strategy
Ok, so you might have gotten into sports betting by being a die-hard Lakers fan. Maybe you’ve taken a shine to horse racing. Whatever your reasons for punting are, blind loyalty to one team or sport will often not serve you well in the long term. What happens when a season ends, or worse, when your edge dries up? Things stop going your way. That means you’ve got to look at other options…
Let’s start with a basic choice like player props. Instead of just betting on match results, player props give you the opportunity to wager on individual performances—think goals, assists, passing yards, rebounds, etc. These markets are often softer because oddsmakers focus more on mainstream betting options, leaving room for you to shift the odds in your favor.
Another option worth exploring is in-play betting, where live markets evolve as the game or event plays out. With ante post betting, you’re locked into a single outcome, but live betting is a lot more flexible. How does taking advantage of real-time shifts in odds sound? You can even hedge a bad pre-race wager this way, making it ideal for course correction.
As I mentioned above, sticking to a single sport or league eventually leads to long off-seasons and dry spells. You can beat this by betting across multiple leagues or widening the field to different sports. For instance, if soccer’s your game, diversify your strategy with wagers across the Champions League and the Canadian Premier League.
Additionally, betting across multiple sports equals action year-round. Build your approach by stacking sports like horse racing and cricket alongside the NFL, NBA, and MLB seasons.
Branch Out Into Casino Games
Sports betting can be arduous and requires consistent research (as well as a patient mindset). Casino games, on the other hand, offer immediate results and they’re enjoyable to play.
You’ve also got lots of options! Your average casino gambling sites feature card games like blackjack and poker, as well as online slots, so which should you choose? Card games require more skill and strategy, which equals more time spent learning. That might push you in the direction of slots, especially if you’re looking for something quick and easy you can plunge into. Opting for slot games on gambling sites is a convenient way to gain access to (potentially thousands) of titles with varying RTPs. Often, you’ll find several high-value progressive and hot-drop jackpots, alongside a wealth of low-volatility games churning out RTPs of up to 98%. These can be a low-risk and enjoyable way to switch things up.
Since we’re talking strategy here, the key to getting more from casino gaming is to use bonuses and promotions. Just like you’ll find free bet offers from sportsbooks, online casinos often run promotions like free spins and match deposit bonuses. Bear in mind that there will be wagering requirements you’ll need to meet, but as long as you can stay within the limits of your bankroll, you can maximize their value.
Gaining an Edge Through Hedging
Have you ever placed a bet and wished there was a way to further minimize risk? You’re already thinking like a hedge bettor.
Hedging is a risk management technique that’s worth adding to your toolbox. It involves placing additional bets that counter your original wagers to, well, hedge against potential losses.
Why would this be relevant if you’ve already built a bulletproof gambling strategy? Even the most well-researched of wagers can go sideways due to the unpredictable factors involved. Hedging offers a way to protect yourself from the impact of, say, weather conditions or last-minute injuries by (at the very least) minimizing your exposure.
For example: you place a futures bet on the Cavs to win the NBA Championship at 10/1 odds. They reach the final but you risk a total loss if they fall short. Instead of riding out the original bet, you could hedge by backing the opposing team. This way, you secure a return regardless of the outcome.
Are You Betting Smart?
Betting smart is a long game. Most bettors operate with a narrow focus, sinking their bankroll into single sports and placing wagers without a broader goal… don’t fall into that trap! You have to think with a strategic mindset: switch up your betting techniques and take full advantage of the opportunities available to you. And after all, who doesn’t love a bit of variety to make life more interesting?