How to make money from betting this World Cup season

 After four years of waiting, the 2018 Fifa World Cup is finally underway in Russia and soccer fanatics around the world once again have a reason to flock various establishments to support of  their favourite teams and players. 

This is the most watched football bonanza globally. With the emergence of many betting firms, the game has attracted another huge fan base that are here not for the love of the game but to mint millions of cash through betting.

‘Put your mouth where your money is,’ is the word. However, for a newbies, it requires more than that to succeed in betting. 

The shocking upsets so far – the latest being Argentina’s 3-0 thrashing by Croatia – notwithstanding, here are few tips that make you a millionaire during this World Cup season:

1. Learn the betting language first

Betting is very simple, but then that does not mean that you should wake up and start choosing which teams to bet on. Like any other industry, betting too has its own terminologies that you might not be conversant with as a beginner.  It won’t hurt you or waste your time to  learn this jargon as it will put you in a situation where you have choices.

2. Do some good research before betting

Even those people who know nothing about football can make accurate predictions and win. However, depending on your motive , there’s a big difference between winning once in a while and winning often enough to actually make a tidy sum of money. If you are betting for fun, well and good but if you are in it to make money, it’s worth investing at least some time, even if it’s just reading a few relevant news articles, studying basic statistics or keeping up to date with current team form before your decisions. History, they say, is a better guide than good intentions.

3. Trust your judgement

There are lots of football pundits  who love to give their opinions about how good certain teams or players are, and make predictions about how matches are likely to go. There’s nothing wrong with taking on board the opinions of others, but try not to be too easily swayed by them. It’s important to put faith in your own judgement above all else. In any case, what they say on most occasions is not the exact outcome that we always see at the end of play time.

4. Avoid bias

Most people place bets on the sports that they enjoy watching the most, and it’s natural that they have their favourite teams and players. They obviously love to see those teams and players do well. This is a big mistake as it  can easily influence your selections if you are  not careful. It’s very common for people to bet on what they want to happen, without really considering whether that’s the right thing to do or not.

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Now, backing your favourite team and players is not a major problem when betting for fun. But if you’re trying to make money, it’s important to avoid allowing bias to cloud your judgement. The best way to do this is simply to avoid any games where you have a personal interest in the result.

5. Set a budget and use a staking plan

Regardless of how much money you have, or what your short term or long term goals are, you simply need to  set a budget for betting. Remember, losing money is a far more likely outcome than winning money. Decide in advance how much money you are prepared to put at risk, and make sure that you don’t start risking more if you lose it all.

You can do this either on daily, weekly or even monthly basis. Whichever way yo decide to do your budget, the bottom line is: Set at an affordable amount  that  you are determined to stick to.

It is very important to manage your finances before joining betting to avoid the dire consequences it comes with when it gets out of control.

6. Sign up with multiple sites

Signing up with multiple sites is a good idea for beginners. First,  it makes it easier for you to compare odds when placing bets. It can also  give you choices to evaluate from and take advantage of  more bonuses and rewards that can prove to be valuable for you. 

7. Keep your betting records

Few people bother to keep records of their past bettings whether they lose or win. This is very unhealthy especially if you are into the game to earn profits because without records,  you will not be able to track how you spend your money in bets. Secondly, records can help you in determining whether you are working within your budget and to determine whether there is need for adjustments.

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Ideally, you should go even further and keep more detailed records that will allow you to analyse your own performance. 

8. Have breaks 

Betting is addictive. That is a fact. Even if your ultimate goal is to make money, avoid making it  more of a chore than a choice by taking regular breaks. Breaks makes it enjoyable, and coming back with fresh perspective can help with making good decisions too.