As well as having been the subject of a lot of bets, Conor McGregor recently tweeted about his impressive €1 million winnings from backing Spain to win the Euros from a subjectively modest €83,500 bet.
He bet on a sport he knows, found a value bet, and kept it simple. It certainly helps that he has a net worth of around €150 million, but by employing some of the same tactics and a few others that are better suited to those of us with a smaller bank balance, you can increase your chances of taking home some winnings.
Similarly, lottery enthusiasts in the U.S. can try their luck with state-run games like the West Virginia Lottery. They features draws such as Lotto America, that offer exciting jackpots and an easy way to test your luck.
Bonus Bets
Although they can have wagering and staking requirements, bonus bets represent a good way to enhance your betting bank. They can also be used in a matched betting strategy.
Make the most of first-deposit, new player, and reload bonuses, as well as event-specific bonuses to give yourself more money to bet with. This may mean opening accounts with multiple bookies, but there are a lot of local and offshore betting websites offering bonuses.
According to sports betting editor, Chirag Dubey, offshore betting sites typically offer better bonuses than retail sites to attract new customers, so it is worth shopping around.
Value Betting
Don’t just opt for the first site you find that offers to match the bet you want to place. Compare odds and find the site that offers the greatest value. The difference between a +700 and +750 outcome can be significant when it pays out.
Some of the best online casinos offer sports betting, so check these sites out, as well as dedicated sports betting services.
Hedging
Hedging your bets means betting on multiple outcomes in the same event. It can take away from some of your overall winnings, but it reduces the chances of returning a loss.
If, like Conor McGregor, you’d bet on Spain to win the Euros, you could have hedged your bet in the final by putting a side bet on England to win the match. You do need to keep track of all your bets to ensure you’re not guaranteeing a loss, though.
Stick To What You Know
As well as knowing a little about UFC, Conor McGregor loves soccer. He’s a Celtic and Manchester United fan, so he knows a lot about the Scottish Premiership, the Premier League, and European soccer. That knowledge helped him pick the winner from a field of 24 teams and take home a big win.
Do Your Research
You might be confident that a full-strength Kansas City Chiefs will take the victory in their next match, but what if Mahomes gets injured? Or what if he has to miss the game because his wife goes into labor? Do your research before placing any wager, and really drill down to make sure you’re not missing any vital clues.
Bet With Your Head
Although you should bet on sports and even teams you know, sometimes it is best to avoid betting on or against the teams you support.
It tends to lead to you betting with some bias when you should be betting with your head and making decisions based on statistical analysis or proven metrics.
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