There are plenty of great reasons to dive into the world of sports betting. The thrill of the risk when putting money down on a promising wager, the excitement of landing that bet, and of course, the very appealing added bonus of some extra money at the end of it all.

For many bettors out there, winning as much money as possible is the aim of the game, and it can be an extremely lucrative pastime for those that are willing to put in the time and dedication to make sure they win as often as they can. For amateur bettors that want to start bringing in more cash, these betting strategies and tips are an excellent place to start.

Betting It All

This is a strategy that might appeal to the bettor that likes to approach things with brute force. Here, everything is put down toward the bet, which is usually a large, single amount of money wagered on the outcome of a game. If the outcome is favourable, the winnings tend to be very big, and the bettor walks away significantly richer. Conversely, if the outcome is sour, then the bettor loses everything. It’s a big risk with a high reward, but one that most professionals will avoid.

Fixed Amount

Fairly straightforward, a fixed amount will be put down on a bet that has a winning probability of around 55%. The chances of winning are slightly higher but usually not enough to justify pursuing. Fixed amount betting doesn’t tend to be that profitable, but under the right circumstances it’s better than simply betting it all at once.

Martingale Strategy

The Martingale strategy is well known among veterans within the industry, where around half of them say it works well, and the other half believe it can only lead to further losses. In this strategy, an initial amount is wagered, and if lost, the bettor will then wager again but with double the amount, and this goes on indefinitely until they win. It’s aimed at those that have an almost unlimited amount of money available, because winning can mean becoming instantly rich with the right conditions. For most people, however, the Martingale strategy is a good way of going bankrupt.

Proportional Betting

This is a wager that’s broken down into segments. The wager will be placed on a specific event, where only a small portion of the bankroll is put up, and then it’s increased for every win that the bettor incurs during the betting period. Usually, around 10% will be added per bet; if $1000 is available, $100 will be wagered to start with, and if it’s successful, the next amount will be $110. It’s much slower than a straight bet, but it also reduces the amount that can be lost, while increasing how much can be earned back fairly quickly. Proportional betting is arguably the best type of strategy on the market right now – it comes with lowered risk, and with enough patience, it can pay out princely sums of money.