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Open a specific bank account. When you open this account, be sure you invest enough money to cover your bankroll for an entire season or year, not just a single game.

Create accounts with a few sportsbooks. Some sportsbooks also offer signup bonuses, so be sure to shop around. Learn to make smart bets. For instance, while each bet should represent about one to two percent of your bankroll, you can reduce this to 0.

Similarly, you can increase the bet if you're very confident, but never place a bet that exceeds four percent of your bankroll.

Many experts recommend not betting on your home team in any sport, because your bias can cloud your judgement, and this can lead to great losses.

Create a betting schedule. This refers to the practice of trying to recoup losses from a previous bet with more betting. Have a betting schedule or routine and stick to it.

Bet sober. This refers to betting with a clear mind and focus. Many people will read this and think it is common sense but you would be surprised how many people break this rule.

Emotions can get the best of all of us, and bad decisions can be made from those emotions. Part 2 of Understand moneylines. The team associated with the minus number the Leafs is the favored team, while the team associated with the plus number the Canucks is the underdog.

However, you can bet on the moneyline for almost every sport. Learn about point spreads. Point spread betting is more popular in games where there's a larger gap between the final scores.

Understand parlays. Parlay betting involves making multiple types of bets on the same game. For example, if you combined a moneyline bet and a point spread bet on the same game, this would be a parlay bet.

These bets often offer large payouts, but they require a great deal of accuracy. Part 3 of Shop for the best lines. This is where having accounts with multiple sportsbooks will come in handy, because some will offer better moneylines on the same games, meaning you have to risk less for the chance to win the same amount of money.

The best time to line shop is about an hour before a game. Make bets based on the odds. Betting with your head instead of your heart is all about making smart bets based on odds rather than emotions.

For instance, if you're betting on a baseball game and think the Yankees are going to win, you might still be better off placing your bet on the Jays if the odds are right.

Take advantage of matched betting. Matched betting involves taking advantage of the bonuses and incentives offered by books to place bets for and against the exact same event.

Matched betting is all about taking advantage of free bets and betting for both possible outcomes on the same game, so this type of betting is as near to risk-free as you can get in gambling.

That's the spread -- the under dog is plus 7. If you pick the favored team and they win by more than 7, you win. If they win by exactly 7, you tie.

If they win by less than 7, you lose. Not Helpful 7 Helpful Matt S. Pick one sport to focus on. Then do some research and decide which bets are more likely to win.

Not Helpful 3 Helpful Do your own research on why the odds or lines are being offered the way they are. Explore other bookmakers for comparison.

Then place your bets with a bookmaker that has an established history of being honest. Not Helpful 2 Helpful 6.

I'm constantly betting 3 team parlays with low money because that's the best risk reward but winning with very little success. Should I stay away from parlays?

Yes, stay away from parlays. You are betting in order to win an amount as opposed to winning in general.

Greedy bettors is how professionals and bookmakers profit. Not Helpful 3 Helpful 7. Football betting. We use cookies to provide you with a great user experience.

By using bwin, you agree to our use of cookies. Feel the emotion, choose bwin! Choose between our wide variety of sporting tournaments, leagues, matches or live betting and put your sports knowledge to the test.

Bet responsibly in real-time across your favourite sports, and take advantage of the excitement and thrill of each game with bwin.

Bet across the Premier League, Champions League, Europa league, all European leagues and international football tournaments with bwin.

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