The Five Rules You should Remember to be a Great Tipster

Becoming a great tipster is not as easy as you may think – it often takes a lot of experience, and it helps if you have other experienced people to test your theories and ideas against. Being good at it is not just something that comes out of nowhere; it involves establishing your own rules regarding money management, understanding the odds, looking at lineups, knowing what’s at stake and choosing to either cash out or continue with another bet at the right moment.

Luckily, there are lots of people who have gone before us – and they each have their own stories to tell. It’s those who have the most experience who have the most stories to tell, and it’s those who have gained a lot of money over the years who can give the best advice. Here are five rules you should remember to be a great tipster, especially when it comes to tipster competitions.

Manage your money

Two issues are important here. First of all, do not bet what you can’t spare – make sure that you enjoy the game and don’t gamble with money that could possible affect your life. Secondly, make sure your wages are proportional to the risk you’re taking. If your odds of winning are only 1 in 3, you should expect at least 150% of the profits when you do win. Furthermore, try not to get emotional. Base your decisions on statistics and thorough analysis.

Get informed

A successful tipster knows what’s going on and knows the teams he or she is betting on. Gather those statistics; gather those numbers and figures. While there are many different ways of interpreting them, it’s important you find your own method and know that you can base an opinion on facts. Have a scientific approach and stay informed.

Understand the stakes

Knowing how much to bet is one of the most important tricks. If the stakes are against you in large quantities, you know you should bet small – your payout will be big if you win, your risk is small. Doing the opposite is a sure way of losing money fast. Understand the stakes and incorporate that knowledge in your strategy.

Two more tips

  • Study lineups

  • News may change – follow the latest news

As a bonus, here are three things you should at all costs avoid. First of all, don’t believe in the notion of ‘the law of averages’ – meaning, don’t think that just because you have had a series of bad judgments, you’re bound to receive winnings soon. The law doesn’t exist – it’s a fallacy. Secondly, don’t drink when you decide. Drink afterwards. Lastly, while it’s true that the house always wins, that doesn’t mean that you can’t win consistently. Most importantly, however, is this (the golden rule): have fun!

Image attributed to debspoons/