Being an avid sports fan is quite different from being a professional sports bettor.

While anyone who understands their favorite sport can occasionally make accurate predictions on who will win a particular game, being a professional punter takes more than knowing who will dominate a match or betting on the favorite.

You need to understand different betting markets, odds, betting strategies, bankroll management, and more to effectively place informed bets and remain successful in the long run.

Here is how professional gamblers place bets on their favorite sports based on their understanding of value.

Ignoring the Implied Odds

To truly analyze any sports outcome, it’s best to ignore the implied odds when doing your analysis.

As any professional bettor understands, allowing the implied odds to guide your decision to place a wager on any sports outcome will skew your judgment and will leave you at the mercy of luck.

That’s why professional bettors make their decisions based on in-depth research before looking at the odds on leading platforms like the Betway sports-book.

Proper Bankroll Management

Bankroll management is among the main things that separates casual bettors from the pros.

While some professional bettors start with thousands of dollars in their bankroll, others gradually build theirs from scratch.

However, the goal remains to make this entertaining activity sustainable enough to make a profit in the long run.

Most professional bettors place only 5% of their bankroll on a sport bet at reputable sports-books like Betway.

That means you will need a large bankroll to make worthwhile profits, but it helps to manage the risk while making sports betting sustainable for you.

Strategy Development

Like any other successful activity, proper planning is crucial in sports betting. Besides bankroll management and understanding value in sports betting markets, several betting strategies can ultimately make a significant difference in whether you are a successful punter.

That includes hedge betting, arbitrage betting, matched betting, chasing steam, using statistics, and even using sports betting algorithms. However, you need to choose a sports betting strategy that works towards your needs.

While most professional bettors use customized betting strategies, all effective betting systems stem from understanding your goals.

That helps you choose a successful strategy based on how you understand your favorite sports markets and what you aim to achieve with every wager.

For instance, professional bettors may place a sports bet on an undervalued market to make a profit and place bets on other markets for the thrill of it.

Temper Management

Some sports bettors fall into the trap of developing a god complex and feeling invincible after placing multiple successful bets.

That makes them think they are destined to win in any bet they place despite the unpredictable nature of the sports betting market.

Remember that even the underdog can pull a surprising comeback against a strong favorite.

Professional sports bettors understand that winning streaks can happen as easily as losing streaks. Just because you have won your last five sports bets doesn’t guarantee you will keep winning.

That’s why pro bettors rely on their chosen sports betting strategies and manage their emotional excitement even when on a winning streak.