Sports trading guide
Lets Compare Bets will help you learn about sports trading. Sports trading involes trading sports bets to make money. The important thing here is that you are making money over the long term. We will look at sports betting strategy to help you decide if you want to start sports trading. The things to think about are; what betting systems there are, what sports betting books should I read, which bookmakers should I use, which sports should I trade, and what tipsters can help me start. Also we'll discuss the best sources of information for sports betting systems.
Sports betting strategy |
Strategy money management |
Trading phycology |
Any secessful sports betting strategy needs good tools, data, and statistics to help you analyse and place bets. We will look at this later and in our specific sports betting pages. It's worth sparing a thought for how bookmakers make their odds, which can help unmeasurably with a sports betting strategy.
Which sports betting strategy is best?
Sports betting strategy either employs a qualitative approach or a quantative approach. The first looks at past results and data with out applying any statistical analysis. This is good enough for most of us. Due to the large number of factors influencing the outcome of a sporting event it can be very complex to accurately predict such an outcome. However, if you have a head for figures there are sports betting ratings systems that can help with forecasting sports results.
You'll find that any sports betting professional we be following his own system. Not a betting system he as bought online, but, one he has perfected over time. So, if you are going to buy a betting system guide then bear in mind that no system will work if; there are lots of participants who follow the system acurately and regularly. The 'weight of money' on certain bets would cause the bookmakers to adjust their odds thus effecting the risk and return profile of the strategy. Our guide to sports betting strategies will give you the building blocks you need to develop your own sports betting system.
Sports betting system or strategy?
A sports betting system makes you think of somthing that you have to stick to rigedly. Placing the same bets systematicly using the same signals time after time. If it works there is nothing wrong with this. However, when you first start, and before you develop your betting system, you will probably need to develop the methods you use. At this stage you are adjusting what factors you take into account and really you are developing a sports betting strategy. When you are happy with the risk and reward and the level of returns you may want to stick exactly to one method. As long as it still pays of course!
We'd recommend further reading. There are lots of good sports betting books available. Choose a sports betting strategy and then mould it to what suits your temprament.
Sports betting strategies and money management
One of the most important aspects of good sports betting strategies is ensuring you control how much money you stake. In turn you know how much you might lose. Lets have a look at which staking plans you can use with sports betting strategies.
There are some good and bad staking plans. The plan you chose depends on what sports you will be betting on.
A sensible staking plan is the level staking plan or fixed staking plan. As it sounds you stake a fixed amount for each type of bet you are making. Bet types are divided into short odds, medium odds and long shots. Stick to this religously to make it possible to forecast potential increase or decrease to the betting bank. The percentage risked should remain the same. It is best to risk a relatively small amount of your betting bank on each bet; up to 5%.
Another sesnible staking plan is an extended form of the fixed plan, and is know as 'plateau' staking. You bet a percentage of your betting bank. If you are doing well the amount you bet increases. Start losing the amount staked decreases.
For a sports betting strategy we'd recommend taking the best features of these two types of staking plan. As follows...
Use a point system of 1 to 10 'points'. 10 being the strongest, most confident bet. You will learn how to decide what is a confidant bet. First we'd recommend looking at the odds, similar to the fixed staking plan (short, medium and long).
A 'point' can be whatever amount you want. Some people might want to bet £5 (or currency equivalent) per point, others, £100 per point. Whatever you decide a 'point' means to you, it is advisable to stick closely to the staking plan. So, you would bet three times as much on a 3-point bet as you would a 1-point bet, twice as much on a 6-point bet as you would a 3-point bet, and so on. Then set an upper limit. For example, never risk more than 5% of the points you have in your betting bank.
Less sensible plans
Some taking plans involve increasing the stake each time to make up loses. These are called 'negative progression systems' like the Martingdale and the D'Alembert.
You also get 'positive progression systems' and 'cancellation systems'. The first only increases the stake when you are winning (good for confident traders). The so called cancellation systems involves a loop allowing you to win or lose a certain amount before you repeat the loop. The positive progression and cancellation systems are too complicated in our opinion as they involve too much tought going into staking. However, for further reading consider the Labouchere or 1-3-2-6 systems for Asian Handicap betting. Also consider the Parlay or Paroli as types of possitive progression systems. We will be looking at some of these in more detail using different sports as examples.
Sports betting phycology
Trading sports bets is almost like running a business. Whether it's full time or part time you need to remove all emotion from any sports betting strategy you develop.
Decide how many losers your will take or what percentage of your bank you will sacrifice before you change some part of your strategy. But, remember never get annoyed if you lose, and never ever get excited when you are winning.
What do I do when I have a system that works?
Don't expect it to work indefinately. Eventually the oddsmakers will adjust their odds return a balance to their books. This time span depends on how much you are taking from them. So, be prepared to review your systems performance regularly and to make slight or large adjustments.
Which sports?
Whichever sport you choose to trade don't trade the big games or matches as these will be priced very carefully by the bookmakers. Where possible we want to try to find value in the odds we are offered by the bookmakers.
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