To many people, Billy Walters is an icon. The bettor is claimed to have won 58% of his sports bets. Now, bettors having the caliber of Billy Walters are believed to earn more than 50% of their wagers. Do bettors earn that much from online IPL betting?
However, the number of successful bets was a little bit higher those days. Nowadays, professional sports punters seldom experience long-term winning percentage more than 56% and sometimes, the win rate drops to the lowest margin of 53-54%.
The break even winning percentage of a successful sports bettor is usually 52.4%. This implies a bettor needs to win more than 52.4% of his bets to make a profit. Though there are some exceptions, it usually goes unnoticed.
There are professional bettors whose win rate or break even point may vary, implying that you will have different win percentages (better or worse) and still experience win or loss.
Choosing winners has nothing to do with the team you pick up to bet on. It always boils down to the odds against the team.
Here’s an Example
If two IPL teams play against each other, the sportsbook will decide a price for potential bettors to wager on them. If one team is better, the bookmaker will consider it a favorite. The odds may be -250 for the favorite and +150 for the other.
Some professional bettors usually bet on games where odds are pretty high. This could be -200 on average, implying that for every wager worth $200, a win will yield $100. To gain an advantage on the betting apps, you need a winning percentage above 66.7%.
Let’s imagine another case. If you place bet on the other team i.e the underdog (for example, +150 average odds), you need a win rate exceeding 40% of your bets
If the sample size of IPL betting is large, the only thing that matters most is break even win rates. The short-term outcome is not relevant here as long as your bankroll account is efficiently managed.
55% Win: Not A Small Achievement
Professional sports bettors successfully translate their betting habits into making money. Some of them are regular at casinos even though betting websites and apps create the same feeling of betting at brick-and-mortar casinos.
No matter how smart and seasoned you are as a bettor, you will lose, not only once but several times in your life. In fact, most successful bettors find it different to extend their winning streaks beyond 55%. Now, scoring that much in mathematics is not good but it’s amazing in betting. It’s not a joke to win more than 50% of one’s total wagers.
Losing Streaks:Integral to Betting
Like in IPL cricket matches, losing is integral to cricket betting as well. If you look at IPL team rankings in the last few years, you will realize Royal Challengers Bangalore has not done well in the tournament.
It’s not easy to digest the bitter truth, especially for those who are new to betting and hence, are yet to develop thick skin.
IPL cricket betting is not a one-night or short-term game. Professional sports bettors always focus on long-run success and stability. Bet on the correct event and market and collect your money down the road.
As long as you have a competitive edge over other players, choose the right markets and place enough bets, your profit is likely to increase. Look at the value of your bet and compare it to the line closed at to calculate your edge.
How Many Bettors Succeed in Long-Term Sports Betting?
A common misconception among gamblers, especially sports bettors, is many punters succeed in the long run. This is not true; there are hardly any real winners in the long run. Truly speaking, those who make enormous profit don’t want to come into the limelight.
Selling Betting Advice
Google betting tips and advice and several sites will pop up on your screen. Some people sell betting advice and we wonder if they are really successful at betting. They just want to make quick bucks because they have not been winning bets for a long time.
Look for the reputable betting apps and websites. These are trustworthy platforms to seek advice from peers and pros. They are too busy with their betting activities to sell advice. However, they help new bettors with guidance without charging anything.
Furthermore, these betting platforms also have their own team of professionals to give you some valuable insights into workable betting strategies and responsible gambling.
Instead of looking for the experts who sell betting tips, approach people who are skilled and successful in the betting industry. This will save your time and help you get guidelines from genuine and accomplished persons.
Gather knowledge as much as possible. Focus on the application part of what you have learned. Choose betting options wisely and start from small bets. Remember, Rome was not built in one day.
