According to one study conducted by a research company Eilers & Krejcik Gaming, sports betting revenues collected in the United States only will exceed $19 billion on a yearly basis in the case of all fifty states legalizing sports betting.
When it comes to the global sports betting industry, it was valued at $131 billion in 2020. According to the latest projections, the global sports betting industry will reach a value of $170 billion in five years from now at an annual growth rate of 8.8%.
In the United States, sports betting activities conducted online have truly exploded in popularity in just three years after New Jersey legalized iGaming activities. Sports betting activities are also extremely popular among Canadian, Irish, and Australian residents.
The United Kingdom is also home to one of the most thriving sports betting industries. Sports betting especially football betting is also popular in Spain, Greece, Norway, Hong Kong, Italy, and Finland. This leads us to the main topic, football betting rules, and everything you need to know to boost your winning odds.
Football Sports Betting – How to Bet on Football?
Globally, football is the most popular sport to bet on. Football is also one of the most profitable sports to bet on followed by baseball and tennis. Kenyan punters also are huge fans of sports betting especially sports betting activities that involve betting on the biggest football matches. Further, we discuss football betting rules and explain in great detail how to bet on football. The list that follows includes 10 betting rules in football you should definitely consider if you want to boost your winning odds and get a greater value for your money.
1. Do Your Research
One of the most important football bet rules to follow if you want to become a successful, profitable sports bettor is to always do your research before playing a bet. Every professional, successful sports bettor is knowledgeable about football teams, leagues, and competitions. Successful sports bettors do not base their wagers on their gut feeling or their instinct but their knowledge of the sport.
As you do your research, examine as many statistics as available and take a look at the current trends in markets that interest you. Recently, Zion Market Research released its new report on the global sports betting industry according to which, the market will surpass a staggering value of $179 billion in seven years from now. This and similar reports can also be a valuable tool when looking into the best football sports betting options.
2. Do not Bet Based on Your Gut Feeling
As mentioned in the previous section, successful sports bettors never place wagers purely based on their gut feeling of their instinct. Instead, they bet with their head and this is a golden rule you should never break if you want to be a successful bettor. To be successful, you also need to remain unbiased. While you want your favorite team to win every team, bet on teams that have a statistical advantage.
3. Devise Your Betting Plan
Once you have done your research on the sport’s current trends and once you have examined which teams have a statistical advantage, you need to work on devising your betting plan. In other words, you need to look into your budget and determine how much you can wager or how much you should wager. When devising your staking plan, consider how valuable your bet is and how much money you can get.
4. Do Not Chase Losses
One of the biggest mistakes you can make when betting on football and every other sport is chasing losses. Chasing losses inevitably leads to a major loss. Instead, keep an eye on your budget, determine how much you are willing to lose. If you are on a losing streak, instead of chasing losses, change your game, redefine your staking plan, and try again once you find a bet that brings value.
5. Place Single or Double Bets
Single bets as suggested are bets placed on a single selection and they are not part of parlays. On the other hand, double bets that involve two bets are part of a parlay. When placing bets on two selections as a part of a parlay, their odds are multiplied to determine the parlay’s odds. Newbies should stick to doubles or singles due to more favorable odds.
6. Have a Betting Log
To identify your strengths and weaknesses and to properly examine your betting strategy, make sure you keep your betting log from the very first wager you place. Keeping a betting log of all your wagers will assist you with refining your betting strategy. If you keep your betting log as detailed as possible, it will provide an abundance of important info you can use later to boost your winning odds.
7. Explore Different Sports Betting Sites
The seventh football betting commandment brings us back to sports betting sites. When looking for the most competitive betting odds, exploring different sports betting sites is a must. In addition, consider registering at several sites if you will be an active sports bettor. Being a successful sports bettor comes down to margins. Being a successful football bettor requires maximizing your return on every bet you place and having multiple accounts helps.
8. Find Highly Valuable Bets
To find the most valuable bets, you need to shop around. Seasoned sports bettors understand the importance of examining the probability of the outcome. To be more accurate with their predictions, seasoned bettors examine historical data. They also examine other factors such as injuries to come up with high value bets. Essentially, the more research you do, the more accurate your predictions will be.
9. Identify Your Weaknesses and Strengths
Being a successful football sports bettor means knowing all of your weaknesses and strengths. As you gain more experience, start working on identifying your weaknesses and strengths and as you do so, make sure you are self-critical and one hundred percent honest. If some changes need to be done, do not be afraid of changing your game. Instead of investing all of your time in fixing what is not working, focus on strategies that work.
10. Bet on Markets You Are Familiar With
The last tip we can give you is to carefully choose football markets to bet on. The best option is to bet on markets you are familiar with. If you are familiar with the Premier League or Bundesliga, stick to it. While it may be tempting to bet on markets you are not so familiar with, sticking to what you know and understand is the route to take. Use your knowledge of certain betting markets and teams to your advantage.