A new year is a chance to turn over a new leaf and improve something that lacked in the previous 365 days. For sports bettors, there’s always room for improvement – especially when that improvement means more money in your pocket as long as you are not betting at our list of blacklisted sportsbooks.
Whether you love betting on football, baseball, hockey, or whatever, here are some New Year’s Resolutions for the sports bettor:
Stop chasing wins and loses
It’s easy to get excited when betting on sports. A tight win or loss gets the blood pumping, however, much of it isn’t sticking around in the brain. How else can we explain why we senselessly chase our wins and losses at the sportsbook?
As humans, we have a knee-jerk reaction to correct our mistakes. That goes double when those errors have cost us some hard-earned money. Many sports bettors try to instantly rebound from a bad day at the book by jumping on the next game – often wagering more to recoup losses. This is also known as the “Get Even or Get Even Deeper” play. And it’s dangerous.
The best way to bounce back from a losing day of wagers is to swallow those defeats, dissect where your handicapping went wrong, and look ahead to the next day’s games. Sports bettors are best to have the memory of a gold fish when it comes to losses.
You can also get silly when it comes to hot streaks. A successful Sunday with plays you calculated and handicapped can manifest into some careless wagers, trying to stay hot and rolling those winnings into a last-minute bet on the late game. Do yourself a favor: count your money and move on. Don’t get greedy.
Diversify your bankroll
One mistake many sports bettors fall victim to is not managing their money properly. And part of that process is delegating specific bankrolls for specific wagers. If you’re a football bettor that likes to bet sides and totals, but also sprinkles in a healthy amount of team and player props, you should have two separate bankrolls for those different types of action.
Not only will that make it much easier to manage what’s coming in and out of your wallet, but you’ll see which wagers you do the best at. There are a number of sports bettors that struggle against the standard sides and totals but thrive in the game, team and player prop markets.
You can also slice up your overall bankroll for things like futures – which tend to tie up money for extended periods of time – and live betting, which can be multiple times per game, especially when you consider play-by-play wagering.
Stop being afraid of BitCoin
Depending on where you live and where you bet, getting money into your account can be like pulling teeth. Legal restrictions and deposit options all vary from bettor to bettor but the one form of payment method catching fire with sports bettors is BitCoin.
The cryptocurrency has made recent headlines for its massive climb in value over the past year, but most people don’t know you can purchase and trade fractions of a BitCoin. And the best thing about this form of currency – as it pertains to sports bettors – is that there is no regulation or restrictions on it from government agencies.
That means that if your online book accepts BitCoin as a way to fund your bankroll, you can instantly send them your transfer and have money in your account within hours. And perhaps the best reason for using BitCoin as your gambling currency is that books can payout in BitCoin instantly. There’s no waiting around for a check to be cut or wire transfer to show up.
It’s 2018, so get with times.