Many bettors in New Zealand participate in sports betting for fun, but of course sports betting should be rewarding as well. The best way to ensure betting is successful is to have a sports betting strategy, and it’s actually easier than most think.
With many offshore online sportsbooks currently offering their services to Kiwi bettors, if a few simple guidelines are followed, punters will be well on their way to a sound sports betting strategy.
Strategy #1 – Staking
There are a number of staking methods, such as going all in, the fixed wager, the Martingale, the Fibonacci and proportional betting. Here we will focus on proportional betting. With this method you wager a portion of your bankroll in proportion to your edge. Punters can calculate their edge using the Kelly Criterion method, and will end up with a percentage. Once the edge has been calculated, bettors can determine how much the wager should be by dividing the odds by the edge.
If the odds are 10/1, the edge is 10%, and the bankroll is $1000, the wager placed should be $100. If that bet is successful, the bankroll increases and the next bet placed will be $110. It may be a slower way to move up the betting ladder, but it has been proven to be most successful staking strategy over time. Of course if a bet is lost, the wagers placed will automatically be lowered by using the calculation, meaning punters can stay in the game for longer. By using this sports betting strategy, punters can ensure that they aren’t knocked out in a single wager.
Strategy #2 – Sports Specialising
Any punter will swear by their sports betting strategy, however specialising in one sport has proven to be a very successful way to stay ahead in the game. By not being overextended across multiple sports, punters can fine tune their bets by narrowing their focus and becoming well-versed in the sport itself. By studying the sports news and taking note of changes in teams, punters will have a winning edge by simply having knowledge of the game.
Strategy #3 – Bankroll Management
Any successful punter has a very tight grip on their bankroll. A bankroll is a set amount of money that is set aside every week, month or sports season, which isn’t necessary to daily life. A great strategy is to only bet 2-6% of the total bankroll on a single wager, and to never chase losses by wagering bigger amounts. The best strategy to ensure success in the long run is to start slow and low, and of course once punters feel more confident in their sports betting strategy, the wagers can increase. This will ensure that the bankroll is increased slowly over time, and as such bigger wagers can be placed, which means bigger winnings.
Strategy #4 – Line Shopping
With such a wide variety of offshore sportsbooks opening their doors to bettors in New Zealand, line shopping is an easy part of any successful sports betting strategy. Sign up to multiple sportsbooks, enjoy the lucrative sign up bonuses and then shop the line. Shopping the line involves checking the odds of a variety of wagers across a multitude of sportsbooks. Compare the odds on specific wagers on a specific match, and only wager on the sportsbook which offers the best odds. It’s a simple betting strategy that can ensure success.