So you’ve come to the end of your sports betting season and fancy using your ability to pick out a winner to help you triumph on the virtual casino floor? Although sports betting and casino gaming occupy different sides of the betting divide, there are a number of crossover skills you can use to achieve success in both.
Like any gambling endeavour, numbers and odds underpin everything you do and if you’re able to appreciate this and apply it to your game you’ll be able to succeed almost anywhere you ante-up. Of course, saying something and actually breaking it down are two different things. So, to give you a better insight into how you can use your sports betting skills to beat the banker, here are some simple tips.
It’s All About the Money
by 401(K) 2013
We’ve said that numbers are important in the gambling world and there are few numbers that matter more than your bankroll. Without the necessary funds to fund your betting exploits you’ll never become a winner, so you have to know how to manage your money effectively.
Every serious sports bettor should know about bankroll management, but if you don’t then the common convention is that you should never risk more than 5% of your bankroll on a single bet. For example, if you were betting on the recent Aussie Rules match between the Port Adelaide and Collingwood, you wouldn’t stake $500 if your total bankroll was $600.
This same rule also applies in the casino world. In fact, it is often even stricter than that. For example, blackjack can be an extremely volatile game which means you should never be risking more than 1%-2% of your bankroll on a single bet.
To work out how much you can gamble in each session, you first need to set aside an amount of money you can comfortably afford to lose. Once you’ve done this you should then section off 10% of it and not sit down with any more. Naturally, as your bankroll shrinks and grows the actual cash amount you’re risking will also change.
Take it Slow
Greed can often be the downfall of any gambler, whether they’re betting on sports or blackjack. A winning sports bettor will often log on to an online sports betting site, such as bet365, and set out how many events they’re going to speculate on each day and stick to that. Regardless of whether they win or lose, long-term winners will set out a plan and stick to it.
If you want to win in blackjack then you need a similar plan. Either based on a number of hands or a set time limit, you shouldn’t play more than you’d planned to. Moreover, it’s important that you don’t let a winning streak cause you to alter your strategy. Betting more and taking greater risks just because you’re in profit is the fastest way to undo all of your hard work.
Think About the Odds
All sports bettors when they ante-up at an online sportsbook such as bet365 will be presented with a series of odds and it’s their jobs to decide which ones are worth taking and which ones aren’t. This process of seeking out the most value is something that comes from an analysis of the market, an understanding of a sport and knowing the latest form.
This skill is something that can be utilised in the casino world. In a game such as blackjack there are moves that have a positive expectation and moves that don’t and to understand which is which you have to look at the numbers. Although we won’t go into a full analysis here, a simple example would be standing on a low total when the dealer is showing a five. Because the dealer must draw to 17 they will have to take at least two cards from the shoe when you stand.
Because there are more tens in the deck than any other value of card, the odds dictate that it is likely the dealer will bust more times than they survive when showing a five. Therefore, standing on a low score is a +EV play. Understanding stats in this way is something sports bettors will be comfortable with and the reason why they should be able to use their skills to make some serious cash in the casino world.