trophy

BOOKMAKER OF THE MONTH

An introduction to betting theory

betting theory betCan you drive a car without having a driving license? Sure you can, provided you have a car you wouldn't mind getting banged up, plenty of empty roads to practice without becoming dangerous and a somebody to teach you what each pedal does and when to shift gears.

Would you feel safe driving this way instead of having attended a driving school? Then why would you risk gambling without knowing at least some basic facts of betting theory? This driving example is perhaps the best advice I’ve been given in about 20 years of professional betting.

Studying betting theory is like taking the first lessons at a driving school. You learn about the steering wheel, break, gears, before you actually start driving. There is a false impression that betting theory is only applied by high rollers or professional bettors, who make a living from betting. Everyone else, from casual bettors to low stakes players, needn't worry about staking plans, money management or what’s the active winning percentage of a 4-match accumulator bet.

The truth is that when you start studying a bit about theory and apply what you've learned in practice, you will see better results day by day, that are guaranteed to have a positive impact on your betting account. Learning the best way to find winning tips, having a decent staking plan or managing your money in a profitable way is bound to improve the way you approach betting. It’s also exciting, finding out something, adjusting it into your plan and watching it work out.

"What I've learned is that you should always have a betting plan"

betting types on politicsBeing successful betting is a combination of many aspects: positive psychology, correct assessment of data, identifying the value, self –restraint, picking out a staking plan that fits of your style of play and many more. It doesn’t matter if you bet €10 or €1.000, if you have a correct strategy you could see your balance rising all the time. Consider it a piece of fruitful advice: You pick what seems good for you, test it for a while and form the ideal betting style to be profitable in the long term.

There’s no university for bettors, as there’s no degree for bookies. Experience is a crucial factor, however, the most successful bettors (or bookies, from their part) combine all the things they can find out with a lot of theoretical assessment in the meantime. Some basic knowledge of statistics or economics is always helpful, but don’t worry: You don’t have to study advanced math or economics to be successful in betting. Keep in mind though, that these two sciences have an advantage of quick gambling understanding as betting has borrowed many terms from them.

There’s no specific book or books you’d have to study. A lot of them have been published through the years, either narrating stories of great success and eventual failures, or revealing “golden secrets”, “profitable ways” and “valuable betting tips”. One of these books I’ve written myself, back in 2013, in Greek, my native language.

Betting: 100 ways to success” is just what its title describes. It basically is my collective experience from studying and betting every day for more than 20 years. There’s neither a “secret path” to betting success, nor just a single way to be profitable. All these years I was blessed to meet and chat with a lot of people from around the world, among them bookies, high rollers, compilers and traders. Everyone has found a unique or common way for making long-term profit from betting.

After all, it all comes down to a bottom line. A bettor is as successful, as his bank account describes. A 70% winning percentage or finding a couple of underdogs doesn’t necessarily mean you are successful. Betting is not a sprint race, it's a marathon.

Through this 20-year long journey in betting I've experienced many roles: News editor in almost every Greek journal dedicated to betting, compiler on an online bookmaker, radio show host, co-founder of a paid betting service (EBIG, European Betting Investment Group) and owner of a Greek betting tips website (kerdoskopos.com).

I understood completely my ancient compatriot Socrates’ saying: “All I know, is that I know nothing”. Studying about betting theory is like a work in progress. You shouldn't take pride into knowing everything. There’s always something to clear out or find out, a new betting system to adjust to your betting style, a new tactic for analyzing matches, or a new league to follow.

Join and grab exclusive bonuses, daily offers and free bets!

Lay hands on exclusive daily bonuses for members only. These promos are limited and are not advertised on the website.

Yes, I have read the Terms & Conditions and I consent to receiving emails from Bookmakers.bet regarding betting promotions, betting guides and news.

BOOK SPY

There are about ten different ways to describe vigorish and twice as many to define it: English bookies prefer to cut the word down to “vig”. American...

Read more »

Betfair has introduced the Same Game Multi tool on Sportsbook, allowing players to bet on markets within the same sporting event. Early on, bettors co...

Read more »

Need the quinella bet explained to you? There are key differences between quinella bets and other wagers you can place, such as an exacta you need to ...

Read more »

The best bet is always the one you think you would have placed after the match, right? But that’s impossible, unless you’ve invented a time machine...

Read more »

The Trixie Bet consists of four bets: a Treble and three Doubles based on three selections from different sporting events. The significant advantage o...

Read more »

Have you ever wondered how the odds are set on a sports match? What makes bookies decide to offer a home win at 1.85 odds and not, say 1.77? If you ha...

Read more »

Any fan of horse racing betting will have heard of Flat racing. It is the most popular type of horse racing, with many major races and events througho...

Read more »

Have you ever heard of a scalping bet? If you have a lot of experience in horse racing, then probably yes. As it is popular in horse racing betting, y...

Read more »

One big question to ask yourself when betting on horse racing is, should I back the favorites? Some bettors are more than happy to do so. These are ca...

Read more »

They call the Melbourne Cup the race that stops a nation in Australia. First run in 1861 on Crown Land by the banks of the Maribyrnong River, the Melb...

Read more »

LIST OF TOP BOOKMAKERS
22bet
  • 1.000+ live events daily
  • 95% payout on top leagues
  • Cashout
100% up to €122
1xBet
  • 1.000 live matches daily
  • Asian Handicap
  • 50+ sports
  • Code:BOOKSPY
100% up to €130
888sport
  • 10.000 live events per month
  • 40+ sports
  • Bet Builder
  • Code:30FB
€30 Free Bets + €10 Casino
Bwin
  • 50+ sports
  • Cards & Corners
  • Edit my bet
  • Code:WELCOMEBONUS
100% up to €100
K9win
  • 3+ Asian football lines
  • 1,000 live events/day
  • 50+ football leagues available
100% Bonus up to ₫10,000,000
Neo.bet
  • 9.000+ live events per month
  • 20.000+ pre match events monthly
  • 1-click bet
100% up to €150
Mr Play Sports
  • 10.000 pre-match events per month
  • 35+ sports
  • 140+ extra bets
100% up to €100
20Bet
  • More than 1,000 live events/day
  • 150+ markets in football
  • 40,000+ events/month
100% up to €100
Rabona
  • 20.000+ live events per month
  • 95%+ on Top 5 leagues and NBA
  • Alternative handicaps on basketball
100% up to €/$150
Bet365
  • Ideal for football lovers
  • 150+ extra bets on top leagues
  • Multiple Asian handicap markets
$30 in Bet Credits
Rolletto
  • 95%+ on tennis
  • Alternative spreads on basketball
  • Asian View
120% up to €/$240
Unibet
  • 250.000+ pre-match events/year
  • 10.000+ live events monthly
  • 96%+ on Asian Handicaps
€25 Welcome Bonus
Betiton
  • 94%+ payout on tennis
  • 180+ alternative bets on top leagues
  • Lots of alternative HC’s on basketball
Bet €15, Get €10
b-Bets
  • 30+ alternative handicaps in basketball
  • 150+ pre-game football lines
  • More than 30 live tennis markets
110% up to €150
Betinia
  • MGA license
  • 10,000+ events monthly
  • Asian Handicaps
100% up to €/$100
LATEST BOOKMAKER PROMOTIONS