Sports betting is a fickle beast. We’ve all experienced the ups and downs. And it’s during the more turbulent periods that the saying “don’t put all your eggs in one basket” comes to the fore.
Much like a financial investor spreads funds around in varied stocks and shares, a serious bettor should think about diversifying their betting portfolio. That way successes from one approach will cover — or at least offset — losses from another.
Successful bettors treat their bets as investments, and aim to maximise success and minimise losses. That’s a rather basic truism, of course. So let’s dig deeper.
How to build a diversified, profitable sports betting portfolio:
- Use Proven Sports Betting Strategies
- Invest In Advice From Specialists
- Develop Your Own Sports Betting Strategy
1. Use Proven Sports Betting Strategies
The “Reliable” Approach
These following three strategies will boost your bankroll. They’ll also help you to grasp how sports betting markets operate (at both bookmakers and exchanges), and what it takes to generate money from them.
These reliable techniques provide the foundations you’ll need for building more complex, higher risk strategies later on down the line.
So what exactly are the most viable, proven methods you can use to bolster your diversified betting portfolio?
1. Matched Betting
Matched Betting is technique used to earn tax-free profits from the free bets & promotions offered by online Bookmakers. It’s based on a simple risk-free strategy.
Although undoubtedly profitable, Matched Betting relies entirely on Bookies giving away free bets to their customers. So once you’ve taken advantage of the initial signup promotions — with the guidance of specialist services such as OddsMonkey — you’d be best treating Matched Betting activity as a small part of your overall betting portfolio.
Learn more about Matched Betting:
2. Arbitrage Betting
Leading on from Matched Betting is a very similar method: Arbitrage Betting.
Arbitrage bets enable punters to place multiple bets on a sports event using different betting companies, to generate a profit regardless of the outcome. Arbitrage Betting is straightforward, procedural and highly lucrative.
Learn more about Arbing:
3. Value Betting
Similarly to Arbitrage is a riskier, albeit proven, method of earning from sports betting: Value betting.
Value bets occur when the odds suggest that the selection isn’t as likely to win as it really is. Value bets have an ‘edge’ in the player’s favour, meaning it’s profitable long-term.
The concept of value betting is the crux of any successful betting strategy, and it can achieved in many forms. The simplest way to find consistent value bets is to subscribe to a value bet finder.
I also highly recommend Mike Cruickshank’s Betting Mastermind package. This provides everything you need to start matched betting, placing basic arbitrage bets, and several types of value bets. Check out my Betting Mastermind Review to learn more.
Learn more about Value Betting:
These three systematic “reliable” approaches work; no doubt about it. But they do have limitations.
Bookmakers tend to make life difficult for anyone exploiting their prices. Free bets are a one off deal, and your betting accounts aren’t likely to survive long while betting on arbs or value bets.
Therefore you’re best off also seeking other (more sustainable) methods for building out your diverse betting portfolio. This can be achieved using sport analyses you produce yourself (see #3), or with the help of sports betting specialists.
Let’s talk more about these specialists…
2. Invest In Advice From Specialists
The “Straightforward” Approach
The veil covering the secretive world of professional betting is slowly being lifted.
Genuine, specialist services are springing up, designed to facilitate the fast-growing niche of aspiring pros rather than profiting from recreational “retail” punters. Times are changing.
So what specialist services can help aspiring pros to build their dream portfolio? What do they offer?
1. Betting Courses
You can subscribe to a sports betting course that’ll teach you how to identify your very own value bets.
At this moment in time, I cannot recommend any specific course that I feel gives sports bettors a much-improved chance of earning.
2. Tipster Services
Tipsters are an easy-to-use, and potentially very profitable source of information — provided you steer well clear of scammers.
The Tipstrr platform has helped many readers of this site to identify hundreds — and in some cases thousands — of value selections. So combining the recommendations of multiple profitable Tipsters on the network will help to create a large pool of bets for your portfolio. Ideally this large set of bets will increase your profitability and reduce the variance (swings) in the results.
Learn more about Tipsters:
- Best Tipster Services
- Monthly Tipster Rankings
- Top Horse Racing Tipsters for Your Portfolio
- Top Football Tipsters for Your Portfolio
Specialist services like Tipstrr provide a steady stream of selections. However, there’s not guarantee that previously profitable Tipsters will maintain their track record going forward.
Crucially, what’s working now doesn’t necessarily keep working in the future. And that goes for any investment. That’s why you need to identify a service with a solid methodology that’ll continue to perform. It takes research and some trial & error.
3. Develop Your Own Sports Betting Strategy
The “Challenging” Approach
By creating your own sports betting strategy you benefit from the flexibility and freedom to analyse a seemingly endless array of sports betting markets. Within those markets, you can apply a number of analytical techniques (statistical or otherwise) to produce your selections.
However, a high level of ingenuity is required for you to create a system that works for the long-haul.
1. Football Modelling
- Creating A Basic Football Prediction Betting Model
- How to Use Expected Goals (xG) for Football Prediction
- Use Betting.com to Develop Strategies & Track Performance
2. Horse Racing Strategies
- How To Select Horses Using Their Recent Form
- Beating the Start Price (BSP) to Generate Profits
- Horse Bloodlines — How Winners Are Bred
3. Basic Trading Techniques (All Sports)
- Scalping The Betting Exchanges for Profit
- Using The Weight Of Money For Betting Market Prediction (WoM)
- Swing Trading On The Betting Exchange
Devising your own sports betting model or trading strategy is potentially very rewarding — but its by far the toughest and most long-winded approach to building out your betting portfolio. Nobody’s going to give you their precise winning strategy; so it’s up to you to create your own.
The top tool for importing, analysing and refining your betting performance is available via the Betting Portfolio Tracker section on Betting.com. Their powerful tool features an automated bet tracker, complete analytics breakdown and bankroll management tools. I’ve not seen anything else remotely like it: well worth the subscription fee.
Building Your Diverse Betting Portfolio
How will you maximise the profitability of your betting portfolio? What will you focus on?
Whatever methods you decide to incorporate into your portfolio, you’ll inevitably find one approach more profitable than another. You’ll also find that some betting techniques are too time consuming to become your main earner. Like with any business, you need to assess what’s viable and make adjustments accordingly.
The way you structure your betting portfolio and ration your risk will depend on your technical/mathematical skill level, amount of spare time, and betting account lifespan (i.e. how long you have left before the Bookies limit you!).
A Beginner’s Approach
Unsure how to proceed?
I’d personally start out with the “reliable” methods provided in section #1, and reinvest a portion of those profits into a selection of high performing Tipsters (as detailed in section #2, the “straightforward” methods). I’d aim to identify any recurring patterns, trends, price movements, with a view to carry those forward into my own betting system.
Alongside all other investments, I’d treat #3 (the “challenging” methods) as an ongoing side project: a small, experimental section of my overall portfolio. It’s worth reiterating that these methods are best left to bettors with the mathematical skills — and creativity — required to outsmart the betting markets without the use of any outside subscription service. Hence why I don’t consider it the ideal starting point for a beginner.
Well, there’s more than enough suggestions in this article to set you off on the right road. With a bit of persistence you’ll build a bankroll and create a profitable portfolio of different techniques, spanning multiple sports markets. It’s now over to you now to create your career in professional sports betting.