1. Understand the concept of value

You must understand the concept of value. If you don’t have this, you should go. Sure, you may be positive that a 1.25 favorite will win, but are the odds being provided worth anything?

We’ve heard many casual gamblers declare, “There’s no way this team is going to lose this game.” They may be true favorites, but is the likelihood of their victory greater than the odds offered? Betting in this state of mind is akin to claiming that an overpriced wide-screen TV was a good buy simply because you wanted it. It’s not going to work. Although value is a basic notion, the majority of the betting public does not comprehend it. Perhaps, fortunately, because ignorant or square money can distort the market, leaving huge possibilities for the minority of gamblers who do know how to recognize the value. Being able to see value in being able to identify and capitalize on chances when the odds are too high.

In theory, http://seputargol.com/ this is similar to effective stock trading: it makes sense to buy a certain stock while it is discounted, as this indicates that it will likely grow in value later.

2. Comprehend basic mathematics

If you’ve ever stated, “I’m not a math man, but…” you definitely shouldn’t be a gambler either. While many gamblers succeed by betting on instinct and ‘feel,’ to be successful long term, you need a realistic staking plan and an understanding of what the odds represent in terms of probability. In a nutshell, it’s a numbers game that requires a basic understanding of division and multiplication.

3. Comprehend how the bookmakers set the odds

This is dependent on the event’s popularity, but in general, bookmaker odds will represent what they expect the public to play rather than the real probability of either result. Of fact, it’s not quite that straightforward, but in general, bookmakers will set their odds in such a way that they encourage betting on both sides of the odds to balance their liabilities and collect their fees.

4. Be capable of falling in love with the ugly duck

The longer we’ve been wagering, the more we’ve grown to appreciate the squad that no one likes. The worse a possible wager appears on paper, the better we feel about it. We realize it sounds counterintuitive, but the less a team is liked by the broader public, the more valuable they appear to us. Especially if the club has been performing well over a long period but has had a dismal run of 4 or 5 games. Simply watch as the general public jumps off them, and their value rises.

5. Do not live in the past or celebrate for extremely long.

Don’t let a recent losing streak derail you. Put it out of your mind and focus on your analysis, and trust that the wheel will spin. Similarly, don’t allow a recent winning run to instill false confidence in you and cause you to overextend yourself. Once again, stick to your analysis and your plan.