Sports betting is typically done by people who want to live a little more excitingly. Some others take it a little more seriously in the hopes that their knowledge will bring in a little additional money. Others only use it as a form of entertainment.
Whichever of these betting types describes you, there are certain ‘rules’ you need to follow in order to get the most from your new sports betting website, and here are a few of them.
Take Advantage of Betting Bonuses and Promo Codes
There are many different online sportsbooks available, but as long as you stick with the top 10 or any other site that our experts recommend, you are free to register an account at any or all of them. You may benefit from all of these offers to enhance your sports betting experience since the majority of sites will provide you with some sort of welcome bonus, like as a free bet or better odds.
Here’s how to register for a Paddy Power account and utilise the special discount code offered to new clients. Go to the Paddy Power website and click the “Join Now” option first. A new page will appear where you may enter all the required information, choose a password, and respond to the security question. If not, just add it to the appropriate area as specified. You could discover that the promo code is already filled in for you. When everything is in order, check the three boxes and choose “Join Now.” All there is to it is that!
With this offer, if your first wager at Paddy Power loses, up to a maximum of £20, you will receive a cash refund. This is a fantastic offer because “money backt” promo codes frequently give you your stake back in cash. The sole requirement is that you must make your qualifying deposit with a debit card; eWallets like Skrill and Neteller and eVouchers like Paysafecard are not accepted.
Use The Kelly Criterion To Maximise Your Chances of Profit
If you are betting at a UK online betting site, then the chances are you are flat betting (using the same stake over and over again). Even the finest online bookmakers include a “win margin” when determining odds, which enables them to remain profitable regardless of how an event turns out. If you calculate your stake using a method known as the “Kelly Criterion,” after its originator, you’ll perform better at UK online bookies.
Say you have a bankroll of £100 and think that Arsenal have a 40 percent chance of drawing with Chelsea. The odds provided for this, however, are 3/1 (or 4.00), which represents a likelihood of 25%. You believe that this is a value wager, but how much money should you risk? £1? £10? Exactly £100?
You can use the Kelly Criterion at the UK’s top betting sites to work it out. The formula is this:
Don’t worry if you suck at maths, as the more you use the formula the more you will get used to it. In our example, the probability is 0.40 (40%) and the odds 4.00 (you have to use decimal odds, not fractional).Using the formula to enter all the numbers, we obtain:
The answer comes out as 1.8 percent of your bankroll, therefore your stake should be £1.80. If you want to test out this formula, why not try it at one of the new sports betting sites in the UK using a bonus? That way you can ‘risk’ your stake without it being any of your own money.
Practice Good Bankroll Management
You’re quite unlikely to improve your new sports betting sites abilities to the point where you can depend on wagering being a reliable source of revenue unless you consider yourself a professional sports gambler and are prepared to put in the hours to become effective at it.
Your bankroll is the amount of money you put aside each month for your sports betting endeavors.You must maintain this apart from other financial factors like your mortgage, rent, utility bills, and the cash you need for daily necessities like food.
Never wager more than one-tenth of your total bankroll in a single day, and never bet more than one-tenth of your whole bankroll altogether. So, if your monthly bankroll is £100 then your single-day bankroll is £10 and your single bet maximum is £1.
The most crucial element of bankroll management is to cease betting if your bankroll reaches $0 due to a terrible streak until the next month’s bankroll is available. Avoid “borrowing” from future bankrolls and refrain from spending more than is necessary to meet your daily financial obligations.