First thing you need to know when it comes to betting is that betting is a long-term process. You need to be patient, tenacious and you need to have a self-control if you are to make some money from betting.

You should not consider betting as your daily job, but as a way to win some extra money. In order to be successful in betting you need to have great money management skills. It’s important to practice good bankroll management and you must set a certain amount of money for betting purposes. Never bet more than you can afford to lose!

Two things you mustn’t do is betting too much and chasing losses. As I have already mentioned, betting is a long-term process and you need to build your bankroll slowly. For example, if you have a 1000$ bankroll to bet on sports, your stakes should not be bigger than 50$. Of course, stake size should depend on how sure you are in a certain bet. The single bet is the most common one as the main reason for using it is the amount of the risk – it is much less when you put your money on single bets. Always try to take advantage of promotions and bonuses, but I recommend you to open your accounts with bookies who offer real cash promotions to their clients. You should open as many bookmaker accounts as you can as that should give you an opportunity to take the best odds you can find.

I think that dropping odds could be a very useful information for bettors. In most cases odds are dropping due to injuries, suspensions, but other facts can cause dropping odds as well. Coaches often rest key players for derby matches and, anyhow, when odds are dropping rapidly you know something is going on. Sometimes, though, odds are dropping because punters put a huge amount of money on a specific bet.

When it comes to betting on football, I recommend you to choose one particular league, for example: La Liga. You need to follow closely all news from Spain, all football predictions and you will have to understand goals of each team for the current season. Yet another important thing is to bet on teams who play well at home and, of course, to avoid betting on sides who struggle on the travels.

Team news is probably the most significant thing you need to follow when betting on football as “smaller” clubs struggle without key players in the starting line-up. On the other hand, top-table teams have longer benches and they can find adequate substitutes for their first-team regulars. For example, if Real Madrid ace Karim Benzema misses a match through injury, Alvaro Morata should be capable of making life difficult for opposition defenders.

Form is yet another important fact you need to consider when putting your money on a certain bet. I recommend you to bet on teams who are on winning runs as they are brimming with confidence. Jose Mourinho had a number of top-class players to choose from in the 2015/2016 Premier League season, but they did not play as a team. On the other hand, Chelsea look unstoppable under Italian tactician Antonio Conte.

A great number of football predictions are pointing towards supporting favourites, but you should bear in mind that bookies often offer the lowest possible odds when it comes to backing title-chasing teams. Key to successful betting is in finding value situations. Sometimes, there is a bigger value with betting on underdogs than with betting on favourites. Anyhow, it has to be noted that bookmakers often set odds wrongly and in the said scenario you need to act fast in order to take advantage of the situation

Many bettors wait for the season finale to start placing their bets on football. Relegation-threatened sides put an extra effort in the season finale in order to secure the survival, whereas mid-table teams often do not take games against the relegation strugglers seriously as they have nothing to play for in said matches. For example, Sunderland are one of the teams who always struggle in the first half of the season, but when things get more serious, they somehow find their best form. It is no surprise a number of football predictions are in favour of the Black Cats in the second half of the season.

On the other hand, title-chasing teams who do not take part in European competitions have advantage over their title rivals as their players are in a much better physical condition. When it comes to betting on contenders for the title who participate in European competitions, you need to understand which competition is set as priority by each and every team who is in the race for trophy.

Outright betting is yet another way of betting on sports. Outright bet is a bet placed on the outcome of an entire competition, tournament or league and many punters believe prefer outright betting rather than betting on an individual match. Said bets often have higher returns when compared to regular bets and I will give you several tips which should help you gain money from outright betting.

When it comes to outright betting, you need to check out the fixture list, signings and injury list of a team if you want your bet to be fruitful. If a team sign several top-class players in the transfer window, chances for them to win the title increase immediately. Also, if a team face an easy fixture list in the second half of the season, you should considered putting your money on them to win the trophy. Take a look at the team’s injury list as well as key players could be sorely missed in the remainder of the season.

Anyhow, you should not consider betting as a full-time job, but as a way to win a little extra cash. You need to learn how to be responsible with your bankroll and that is the key to success in betting. I once again advise you not to bet more than you can afford to lose as betting could lead you to disaster if you are not smart enough to know how to handle your bets.

About the Author: Ignacio del Valle Ruiz, a true fan of football, is one of the founders of FootballPredictions.com. He also manages the content team behind the website, twitter and facebook. In his spare time he enjoys winning FIFA games.