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Can you Make it Big with Small Bets?

Betting with a small account can make you feel like a small fish in the ocean. Your profits are tiny and every loss takes you closer to blowing your account. But there’s good news. You can turn a small, £20, £100 or £500 bankroll into £100,000.

All you need is patience, the will to become a better punter and a commitment to grow your account. In this article, we’ll share 7 actionable tips you can use to grow your account. Let’s dive right in.

1.     Gain Sports Betting Experience

Your best weapon in the sports betting industry is knowledge. If you have an idea on how to predict football and cricket matches correctly, you can grow a small account. The general advice is to gain experience by predicting matches for fun.

Take time to find ideal sports games. Choose matches with fairly competitive odds—1.5 and above. Then analyze the competitors based on each team’s form, key players, injuries and playing styles.

If you’re correct, analyze several other games and gauge your performance. Ideally, target to win six out of every 10 predictions. This is the only way you can break even: make more money than you’ve spent.

With experience comes confidence. And it’s always good to bet real money on sports with confidence. You can analyze a competitive match and win. And in doing so, you can turn your £10 bet into £20 or £50 into £100.

2.     Bet Moderately

Growing a small betting account sounds simple on the surface. You can wager on three games every day and triple your money. Repeat this strategy for 30 days and you could become a millionaire pretty quickly.

Unfortunately, things don’t always work your way. If you lose one bet in the morning, there’s not assurance you will win in the afternoon. The vice versa is also true. As a result, it’s essential to minimize the number of times you bet.

Instead, focus on winning a few matches every now and then. Importantly, don’t pick challenging bets to overcompensate for your small bankroll. Overcompensating can mean placing an accumulator bet or a handicap to increase your profits. A better alternative is to focus on the long-term. Place a few bets you can predict comfortably.

3.     Use Bonuses

The problem with having a small budget is that it minimizes your profits. But there’s a solution. Claiming a bonus can increase your betting power and thus, your maximum profits. Think about it.

You have a £30 budget. So, you claim three bet £10 get £40 offers at three different betting sites. Your betting power will increase from £30 to £170—your initial £30 plus the £120 worth of wagers from the three bookies.

With your increased bankroll, your maximum profits are a lot more than what you would have won with £30. Now, bonuses aren’t exactly free money. And this is where due diligence is needed.

Many bonuses, whether welcome or loyalty bonuses, have policies you must follow. The rules revolve around the maximum you can win, wagering requirements, odds and games you can predict. Choose bonuses with fair policies.

4.     Add Money to your Account Steadily

Depending on your long-term goal, it can be an excellent idea to add money to your account periodically. Picture this. You have £50 pounds in your betting account in January. Then you make £20 extra, so that your account reads £70 at the end of the month.

You could add £30 in February to bet with a £100 account. If you’re lucky in February and make £20 extra, you can boost it with another £30. By the end of the year, your profit might be 60%.

But it won’t be 60% of £50. It will be 60% of all the money you’ve won and added to your account regularly. If your account reads £1000 by the end of the year, then your 60% profit could be £600 instead of the £30 you would have made from a £50 account.

That being said, create rules for adding money to your account. Should you add money after a losing month? If, yes, how much? Precisely, you could settle on a fixed amount regardless of how much you made in a month. That way, you don’t risk spending cash meant for bills on betting.

5.     Focus on Value Bets

Many professional bettors specialize in value bets. A value bet in a wager with competitive odds. However, it’s also a bet type with a high chance of winning. Let’s use an example of West Ham versus Leicester City.

West Ham have been on a five-game winning streak. By comparison, Leicester have won three, tied one and lost one to top-side Manchester City. Due to that, home-based Leicester have 2.1 odds to win while the Hammers have 1.4 odds.

Now, the foxes are placed fourth on the league after 20 games. The Hammers rank 11th place. Another piece of statistic shows Leicester haven’t lost to the Hammers in four outings, including away matches.

Owing to that backdrop, the match between the Foxes and the Hammers sets up a great value bet. The Foxes have great chances of winning, yet they have longer odds. This is a great bet because your chances of doubling your stake are high.

6.     Focus on Long-term Success

They key to becoming a sports gambling millionaire is to think long-term. Billy Walters provides testimony to this. The controversial billionaire started small. He would gamble small amounts even though betting was illegal in Kentucky back then.

Over time, the avid gambler created a network of bettors who would place bets on his behalf in Las Vegas and Atlantic City. At some point, he lost $50,000 betting on sports. But he didn’t give up.

Instead, he honed his craft while also growing his account through casino gambling and sports betting. Over time, he earned enough money to bet millions of dollars per match. He famously won $3.5M on the Super Bowl in 2009.  In 2007, he had won $2.2M from a college game.

In 2021, Walters is worth $200M, money primarily won from gambling.