When we think about solid investment opportunities, the very last thing that comes to mind is sports betting. After all, sport by its very nature is seemingly one of the most unpredictable things on the planet. However, that’s not entirely true.
While we wouldn’t recommend betting on sports as a long-term investment strategy, there are certainly plenty of opportunities to make a decent return on your bet and have a little fun in the process. You just need to know where to look.
Look for betting offers
The first and most obvious way to maximize your returns on sports betting is to look for betting offers from online bookmakers. These are mostly reserved for new customers, so if you already have an account with that provider, you may be out of luck. Often these offers will include a deposit match which means that for every dollar you deposit, the provider will match it by a percentage.
Better yet would be to look for free bets. Yes, believe it or not, comparison site Oddschecker tells us that there are many online sports betting platforms that offer free bets. As incredible as that may seem, it’s true. Such is the growing competition in the market, providers are under increasing pressure to find ways to attract new customers to their platform. And what better way than to offer a few risk-free bets.
Check the competition
And speaking of competition, this is where you really need to do your homework. While those free bets are enticing, you should also pay close attention to the odds on offer. Generally speaking, bookmakers will offer similar odds on the biggest sporting events, but this is a post abut maximizing those returns so even the slightest difference in odds should be taken into account.
But we’re not just talking about odds for the favorites at individual events. Dig a little deeper and see what kind of odds you get for accumulators or long-term bets such as championship winners etc. The odds on these kind of bets can vary greatly from bookmaker to bookmaker so it’s worth looking into.
Accumulate to win
We just mentioned accumulator bets and, to be honest, they’re a great opportunity to see a huge return on your initial bet, but you need to bet smart. An accumulator bet is when you bet of a series of outcomes. Your winnings for each successful bet in the series become the stake for the next bet. As you can imagine, with the stake growing larger for each bet, your potential winnings are considerably greater than when betting on an individual event.
However, with your bet relying on so many positive outcomes, it’s essential that you choose your bets carefully. This is where an in-depth knowledge of sports can come in extremely handy. This is quite often used in horse racing but can easily be adapted for multiple sports.
Play the long game
Another option is to look to long-term betting. This is when you bet on a team or an individual to finish first over the course of an entire season. This is particularly popular for team sports such as basketball, soccer, baseball, and American Football.
While most fans will simply place a bet on their favorite team, you should be looking for a few long shot bets and one favorite. Look for extremely long odds and place a small bet that is virtually risk free. A good example of this is when a fan placed a bet on Leicester City FC to win the Premier League at odds of 5000/1. He cashed out before the end of the season but still won pretty big for his small bet.
If you combine a bet like this with a slightly larger bet on a team at shorter odds, you’ll give yourself an even greater chance of success. But remember, you really need to do your homework if long-term bets at shorter odds are going to work out for you.
So there you have it. Just a few strategies that, if combined with matched betting, should see you maximize your returns on your sports bets. But best of all – you get to have fun while doing it.