Millions of people bet on sports regularly, hoping to win big or at least make the next game more interesting to watch. There’s no way to guarantee positive returns in gambling, but there are some tweaks to your strategy that can improve the odds in your favor.

So what steps can you take to improve your sports betting strategy?

Use the Right App

First, it’s important to use the right app. There are many sports betting apps available, some of which are easier to learn and use than others. Choosing an app with transparent pricing, easily decipherable odds, and a convenient user interface can help you plan your bets better and execute them without any headaches.

We are also seeing the rise of unique sports betting apps that transform how people can bet on sports. Sporttrade, for example, allows users to trade in and out of sports bets the same way you might trade stocks. You can even place “limit orders,” setting your own price to minimize losses. This dynamic app gives you a much wider range of possibilities to use in your sports betting, thereby giving you more opportunities and more flexibility.

With the right app, you’ll have a much better understanding of the bets you’re making, more strategic options, and more information you can use to bet intelligently.

Hedge Your Bets

Investment advisors always caution people to diversify their portfolios, and there are many good reasons for this. In case you aren’t familiar with the term, portfolio diversification is all about investing in many different types of assets simultaneously, such as stocks, bonds, real estate, and precious metals. 

This strategic maneuver reduces your susceptibility to volatility and practically eliminates the possibility of catastrophic losses. If one of your asset classes takes a dive, your portfolio remains intact and thriving because you have so many other asset classes to make up for it.

This principle should be applied to your sports betting strategy as well. Diversifying your bets, by betting on multiple different games and sometimes different outcomes, can reduce the likelihood of suffering major losses.

Study the Odds Carefully

Always take a deep look at the odds as they’re presented to you. Make sure you understand what these odds mean and how they translate to a potential payout. Do you believe the published odds accurately reflect the odds of one team winning over another? Look for discrepancies here to maximize your chances of placing a winning bet.

Back the Underdog (but Avoid True Longshots)

Underdogs have the odds stacked against them. That means they’re much more likely to lose, but it also means that if they win, your bet could come with a substantial payoff. Look for underdogs you truly believe in and bet on them; you’re probably going to lose many of these bets, but the ones that win can more than make up for the losses.

The only caveat here is that you should avoid true longshots. There’s a difference between an underdog and a team that has almost no chance of winning. Thousand to one payoff odds certainly sound attractive when you consider multiplying your bet by one thousand – but in 999 instances out of 1,000, you’re going to lose your money.

Focus on One Team at First

If you’re just starting out with sports betting, focus on only one team at first. This way, you’ll get to know the dynamics of the team, the individual players, and how they perform in different conditions. Once you become a de facto expert on this team, you’ll be much more likely to accurately assess their odds of victory and make more intelligent bets. As you get more experienced, you can expand to other teams.

Look for Details Missed by the General Public

Always keep an eye out for details that are missed by the general public. Does your team have a secret weapon that can lead them to victory?

Never Bet More Than You’re Willing to Lose

It’s a common piece of advice, but an important one. Never bet more than you’re willing to lose. No matter how sure you think the bet is or how confident you are in your decision, you always need to assume the worst-case scenario. If you lose this money, is it going to have lasting negative consequences for you and your life? Sports betting is still a form of gambling, so you need to be able to gamble responsibly.

There’s no surefire way to consistently make money with sports betting, but with the right strategic improvements, you can increase your odds of walking away with a positive return. 

Keep in mind that this isn’t a transformation that happens overnight; it takes months and sometimes years for people to develop a sports betting strategy that works for them. Remain patient as you learn these lessons, and try to have fun in the meantime.