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There is no sports bettor in the world that didn’t thought about this subject in his sports betting career. Understanding the concept of luck in sports betting is essential for every sports bettor because many people tend to think luck is a big factor when we talk about betting in general. Sure, we all managed to hit some late winners and to lose considerable amounts of money with late goals, but in the long run, luck isn’t the factor that should be taken so seriously.
Luck Factor and Sports Betting
Some factors are more important in betting than luck. For example, every profitable sports bettor must know to calculate betting margin in order to be profitable in the long term. Calculating the betting margin is important because if you play your bets with high margin bookmaker, your long term chances to be profitable is smaller. That’s why it is essential to choose the bookmakers with low odds, such as Pinnacle, Marathonbet or Betfair.
Luck vs. Skill in Sports Betting
The most important skill that every bettor must have is the knowledge of how to find and extract value from a single bet. On the short term, even the beginners can make a significant profit, and there is the place where luck factor must be calculated.
Often we see the people who think they are godlike punters just because they managed to hit several winners in a row and made a nice profit in a short period of time.
Most likely those people had a nice chunk of luck under their belt and managed to beat the system, but in 99% of those situations after a longer time frame, those people will start losing money. Why? Well, after some time the luck factor isn’t the most dominant factor, as sports betting is a long-term form of gambling.
How to find profitable punter?
There are several factors that you should look when you lurk for most profitable punters on the market. People who have a small sample of bets aren’t a good match. Punters with more than 1000 bets can be assessed and reviewed. That sample will show you is the particular punter just lucky guy or really talented and blessed sports bettor.
How to Increase Your Betting Luck in Betting?
As we saw so far in this article, luck is something that can be changed. The best possible way to change your luck is to educate yourself and to try improving your skills.
Even the best sports bettors tend to have losing streaks that can be devastating on the betting bank. That’s why it is extremely important to have several plans in order to take your sports betting adventure into the next level.
The most important thing is to have solid bankroll management and to stick to it. Never bet on a single game more than 2% of your bank and that way you will be able to survive even the most unlucky period of your betting journey.
You have the 1.000 Euro for your sports betting, and that is called your betting bank.
The average bet size should not be more than 20 Euro (2% of your betting bank). With this bank management, you have the “space” to miss 50 consecutive bets before you go broke.
It is important to have a large “space” as you need to survive betting variance that will happen without any doubt. The most important thing is to create a bankroll and your bankroll strategy and stick to always.
The second important thing that you need to do is to keep track of your bets. Make a spreadsheet and write every single bet that you made. That way you will be able to see many interesting things. Leagues that suit you, teams that suits you and most important the markets that suit your betting style.
Also, it is important to research every single bet that you take. General criteria that you should consider in every bet you take are injury reports, recent performances from the teams or players, motivational factors, etc.
In the end, it is important to remember one thing. Never chase your losses! That is the biggest mistake every sports bettor can make. If you start chasing your losses, you will be broke before you know it.
So the luck factor isn’t that big in the sports betting in the long run. But, every single sports bettor can change their luck and become more successful if they are disciplined and well educated on the matter of sports betting.