A solid betting strategy is like bringing an umbrella on a cloudy day – it may not always be fun, but you’ll be glad you had it when things get unpredictable. A good plan helps you maximize wins and manage losses. Sure, a little luck never hurts, but having a strategy gives you the best shot at coming out ahead in online betting.
In this guide, we’re breaking down sports betting strategies you can apply today. We’ve got the basics that everyone should know and a few pro strategies for when you’re ready to take things up a notch.
What Exactly is a Sports Betting Strategy?
In short, a sports betting strategy is a structured approach that helps bettors make decisions based on data and probabilities rather than just gut feelings. There are hundreds of ways people approach betting, and while we’re not promising a magic formula, a few solid strategies can make a big difference over time.
Why Use a Betting Strategy?
Nobody (other than your friend who miraculously picks winners with zero research) wins 100% of their bets. A smart, organized strategy helps you become a more consistent bettor by removing some of the guesswork. A structured approach also lets you track what works and what doesn’t, making it easier to fine-tune your decisions.
Keep in mind—you don’t have to stick to just one strategy. Betting isn’t a “one-size-fits-all” game, and trying out a mix of techniques can help you stay adaptable.
Core Sports Betting Strategies
Starting with the basics will help you build confidence and set a solid foundation. These tried-and-true strategies can help bettors of any level up their game.
- Bankroll Management First set your budget, known as your “bankroll,” and stick to it. Betting outside your bankroll is like driving past empty gas stations on a road trip: eventually, you’ll run out. So whether you’re on a hot streak or taking a few losses, stay within your budget.
One rookie mistake is chasing losses by betting bigger after each loss. It’s the fast track to burning through your cash. A little discipline goes a long way in managing your bankroll effectively.
- Line Shopping Not all sportsbooks offer the same odds, so shop around for the best lines before placing a bet. Even small differences in odds can add up, so don’t be shy about comparing numbers across platforms. DraftKings might be your go-to, but it doesn’t hurt to check FanDuel, BetMGM, or others to see if there’s a better deal.
Pro tip: Line shopping isn’t just about odds. Many books offer welcome bonuses and promotions. It’s worth checking for these before you start betting regularly on a platform.
- Don’t Overdo Parlays Yes, parlays are tempting with their higher payouts, but they’re also much riskier. A parlay combines two or more bets, and every single leg has to win for the parlay to pay off. While cashing in on a parlay feels fantastic, they often come with low odds of success. In the long run, sticking mostly to single bets is a safer move.
- Research, Research, Research We live in an age where betting blind is a choice (and not a smart one). There’s an endless supply of data, trends, and insights at your fingertips, so use it. Look up stats, analyze injury reports, consider team matchups, and follow relevant news. Twitter, TV, podcasts, and even subscription sites like SportsLine can help you stay informed.
Advanced Betting Strategies
Once you have the basics down, you can move into more advanced strategies. Here are a few that can help you think like a “sharp” bettor.
- Hedging Your Bets Hedging is a strategy where you place a bet on the opposite outcome of a previous bet to minimize losses or lock in a small profit. This can be helpful, especially in live betting scenarios where things can change quickly. Just remember, hedging typically doesn’t maximize profit—it’s about covering yourself.
- Set Your Own Lines Before you even look at the odds a sportsbook offers, try setting your own line first. For example, say there is an NFL game and the Buffalo Bills are hosting the Miami Dolphins. Based on your knowledge, data, and research, you think the Bills should be -6.5 favorites. If sportsbooks have them listed at -9, you might see some good value in backing the Dolphins.
As you gain experience, your self-made lines will start to get sharper. It’s like being your own bookie—minus the pressure.
- Fade the Public This strategy, known as “fading the public,” means betting against the most popular side of a wager. Oddsmakers sometimes adjust lines if too much money is on one side, potentially inflating the line to manage risk. Betting against this inflated line can sometimes create value, as the odds may have shifted beyond their true probability. The one thing that everyone has to keep in mind here is that when you place a bet at a sportsbook you are not betting against the sportsbook, you are betting against everyone else who bet on the other side at the same sportsbook.
For example, if a lot of people bet on the over for an MLB game, the line might shift up. This gives contrarian bettors the chance to take a better value on the under. If nothing substantial has changed about the game, you might have a slight edge.
Betting Strategy by Sport
Each sport has its own unique quirks and factors that influence outcomes. Here are some specific tips for popular sports.
NFL – With the NFL, bettors need to pay attention to a variety of factors, such as home-field advantage, weather, and individual matchups. Trends are especially useful—some teams might cover the spread more on the road, while others tend to play better after a bye week. There’s a ton of data out there, so take advantage of it.
MLB – In baseball, underdogs win surprisingly often, over the past 10 MLB seasons to the tune of about 43% making it less predictable than other sports. One common strategy is avoiding big moneyline favorites, as they come with low value in the long run. MLB actually is a sport where if you pick mostly moneyline underdogs you can win less than 50% of your bets and still be profitable.
NBA – Injuries, rest days, and travel schedules are crucial for NBA bettors. With frequent rotations and “load management,” knowing which players are on or off the court is essential. Keeping an eye on recent schedules can help, too, since tired legs often lead to lackluster performances. Teams playing several games back to back fatigue sets in and makes it harder for some players to stay focused.
Final Thoughts
Whether you’re just dipping your toes into sports betting or already have a few wins, a solid strategy can help you approach bets with more confidence and consistency and more importantly, beat the sportsbooks. It’s not about trying to win every single wager but making smarter, more informed bets that stand the test of time. And remember, if you hit a cold streak, maybe your luck will turn around once you stop betting on your favorite team—no one said loyalty makes for a good and profitable betting strategy! Good luck!
