The love of sports is basically what drives most people to take up sports betting, and the upside of that is that more and more people will log on to the their online sportsbook to place their wagers, or call their bookmaker to the same end. The downside – at least for those joining the ranks of sports bettors – is that sports junkies often don’t realize that being in the know about a certain sports genre won’t really help them become successful sports bettors.

Beginners often fail to take even the most basic principles into account, and it usually takes people quite a bit of time marked by losses, to realize that there’s more to being a successful sports bettor than just being a fan of the game.

First of all, there’s the issue of bankroll management. Very few beginners get this one right from the get go, despite the fact that there seems to be plenty of useful advice out there on this aspect of sports betting. Most people just get caught up in the whirlwind of action, or they end up chasing losses, and that usually leads them to betting way too big a percentage of their overall bankroll on a single match-up. Obviously, that’s less than optimal, and everything that’s less than optimal leads to bust. Assuming that one knows how to create positive EV on his wagers (I’ll get back to this shortly), proper bankroll management makes sure he stays in the W column over the long run. You see, EV+ only manifests its effects in the long-run. In order to really reap its benefits, you need to be around for the long-run, which means that blowing your entire bankroll over 4-5 games will pretty much knock you out, regardless of how skilled you are at finding value and securing EV+. This is exactly what proper bankroll management is supposed to help you avoid.

Never bet more than 2-3% of your entire bankroll on a single match-up, regardless of whether or not you happen upon “locks”. On games that you feel very strongly about, you can go up to around 5%, but never more.

Bankroll management is a must, but alone, it won’t do you a lot of good. You need to place your wagers on match-ups which give your positive long term EV (EV stands for Expected Value btw). Locating such value is not easy at all and it requires a thorough understanding of not just the mechanics of the game, but also of the way the bookmaker operates. By just using your knowledge of a given sport, you’ll end up betting with the squares time and time again. You’ll be getting your money in on negative EV, and that’s definitely not the way to go about it. Squares bet mostly on favorites, but simply switching sides and going with the underdog all the time won’t do you much good either. In order to make money on your bets, you need to locate value that other bettors miss. This is where reverse handicapping comes into the picture. Reverse handicapping is basically about taking the bookmaker’s woes and problems into account as well when placing your wager. The bookie’s goal is to balance every match-up as close to perfection as possible. Sometimes though, he is forced to alter his odds by the masses, and to induce undue value into one side of the match-up. That’s where your hidden value surfaces.

Don’t overlook small perks and rakeback-like loyalty deals either. Like rakeback and prop deals in online poker, these loyalty rewards give you a welcome rebate on money that would otherwise end up in the bookie’s pockets.