Set your budget
The first step before risking any money gambling is to establish your budget. Plan how much you’re going to spend for any given week or month, and call it quits if you hit it. Never chase losses or try to win back what you’ve lost by going deeper into your pocket. You’re likely to lose even more.
Is my team due for a win?
Just like lottery or casino games, there are no certain ways to predict a win in sports. A team on a losing streak is never “due” for a win and there’s no way to tell if or when they might win again. Since anything can happen, it’s important to focus on playing for fun and accept that sometimes you may lose. When that happens, don’t chase your losses. Trying to win back lost money is a sure way to go over your budget.
Should I bet on the underdog?
While it may be tempting to always bet against the favourite to increase your potential winnings, there’s no guarantee an underdog will come out on top.
Upsets may be difficult to predict. You can take your best guess based on your team and game knowledge. After that, it’s up to the players.
Should I bet on a winning streak?
Winning streaks are a series of back-to-back wins that could end at any time. A team on a winning streak might lose the next game. In the end, know that anything can happen, and no bet is guaranteed to win.
If I bet more, will I win more?
In theory, if you bet more you could win more but you also stand to lose more. Plus, over time, you’re likely to lose more often than you win.
The best strategy is to never bet more than you can afford, and to never chase your losses.
Set a personal win limit
It’s no fun to be up and then lose it all. Avoid it by deciding on a win limit—the point at which you plan to stop making bets, even if you’re up.