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How To Cut Risk & Get More From Your Sportsbook

I often meet online sports betting aficionados with a seeming obsession with probabilities and statistics. Take the guys at Sports Intensity for example. They troll the forums or hound the consistent winners, asking for the "big secret." How does anyone consistently win? Surely, there is a secret method that makes it possible to correctly predict the results of a game, right.


However, they miss the real point of intelligent online sports betting. It is not really about capturing the big whale; it is more about employing a conservative, organized system whose rationale is to minimize risk and to allow you to get the most out of your wagers. And here I speak of my own approach to the whole business of online sports betting.


Because truly, it is a form of business—you calculate the risks and odds and basically base all your decisions on your calculations, just like in a real business. Your standing in the games, your profits, your winning average—all these things are a direct result of every strategic decision you make. If you make your betting choices haphazardly, then the results would also be as haphazard. This unpredictability waters down your chances of earning heft long-term profits.


Here's how to lay the foundation of profitability in your online sports betting efforts. By making these conscious choices, you have greater chances of turning a profit in the long term. Open multiple accounts Perhaps you might say, "I'm already very happy and contented with my current sportsbook. I don't see any reason why I have to bother with signing up with other sports betting sites." I always go back to the subject of signup bonuses because, despite all the negative, stupid things that are sometimes attached to the matter, such bonuses are still undeniably very helpful in making you a "winner" even before you make the first bet.


Now, opening multiple online sports betting account is good because of the signup bonuses. After all, there are no restrictions regarding how many accounts you are allowed to open—the whole thing is unlimited. Moreover, consider the fact that almost all online sports betting sites offer signup bonuses—opening multiple accounts in several online sportsbooks means you stretch the value of your money and effectively spread your wagers. With the average signup bonus ranging from 10% to 25%.


So to illustrate: let's say you have $1000 to deposit. Why use it to fund a single account in a single sportsbook? Why not, say, sign up with two sportsbooks, one offering 15% and the other offering 20% in signup bonus, and divide the money to fund your two accounts? In that way, thanks to the bonuses, you have more initial funds to start with. However, the bonus is just one part of the whole equation. Actually, you use the bonus to complement your other online sports betting strategies, such as spreading your wagers and sticking by a consistent betting unit.


For instance, instead of betting all your $500 on a single game (with all your big hopes latched onto it), you should "intelligently" choose five games that you know and have analyzed and bet $100 each. By sticking with a consistent betting unit, you minimize the risk of incurring a single massive loss that empties out your entire bankroll. You also get to optimize the worth of the signup bonus you have received. Most importantly, when you consider that winning only 55% of your bets can make your efforts profitable in the long run, you realize the value of these strategies. Moreover, the rationale behind opening multiple accounts is this: not all online sports betting sites are the same in terms of lines and odds.


By learning to "shop around" for the best lines and reduced odds, you even further maximize the collective worth of your multiple accounts. After all, all professional sports bettors do this, simply because it makes sense. Watch out for special offers Think of your multiple accounts in various online sports betting sites as some sort of net with which you catch fish.


If you have wisely and carefully chosen your sportsbooks, then some of them are likely ones that often offer special offers, such as reduced juice, special bonuses, free real cash, and extra credits. One common example is the reload bonus: deposit a specific amount in your online sports betting account, and you get a 10% bonus on your reloaded amount. Needless to say, you should take advantage of these special offers when they appear—after all, you're already in the position to receive them, you only need to open your hands.


Anything that stretches the value of your bankroll without eating into it is welcome and you should avail of it—just make sure you understand the accompanying restrictions.


Don't put all your eggs in one basket:

This is actually related to the first tip regarding opening multiple accounts. Now, one of the hard facts of the sports betting business is that, by its very nature, sports betting entails greater risk than any other normal business. If you have all your money in a single sportsbook, and some sort of unforeseen tragedy strikes—maybe a new legislation is passed that severely affects the business of that particular sportsbook, leaving it teetering on the edge of survivability—you might not be able to cash out your money.


Worse, if you have been playing for years now using that single sportsbook, it is easy to imagine your loot amounting to hundreds of thousands of dollars—and all of that money suddenly inaccessible. Therefore, diversifying and spreading your winnings in multiple sportsbooks reduce your risk and give you more leg room to execute your particular betting style. In the end, being successful in online sports betting means constant presence of mind and keeping your wits intact. Although you're dealing with games of chance, it is up to you to "tame the beast" and get the most out of it.