Sports betting has become a major industry in the country with billions of shillings turnover yearly. Although it is practiced across all demography, it is more popular among the youth and football lovers. Hence, lets look at tips on how to succeed in sports betting in Kenya.
How do sports betting work in Kenya?
Most of the sports betters use their mobile phones to bet. However, before betting, you need to register with a betting company.
This happens by providing details such as name, email address, and phone number to facilitate the creation of an account.
You should then top up your account to start betting. The payments mostly happen through the use of mobile money services such as M-Pesa.
Tips on How to succeed in sports betting in Kenya
Some various traits and skills are necessary to succeed in this business. Some of these include;
1. Market research
Betting is all about ensuring you have the probability on your side. Before placing a bet, you need to do a thorough market analysis of some key information such as past performance, players, and team ranking.
This allows you to make a betting decision based on scientific analysis. You can get most of this information online. You only need access to the internet.
Other than data analysis, you should also consider other fundamental elements such as if the team is playing home or away. Naturally, teams tend to perform better when playing on the home ground.
2. Manage the risk
Due to the risky nature of the betting business, you need to have a good risk management strategy to succeed in the long term. Some of the key elements to have in the strategy include how much money to bet per game, the number of games to bet and the sport to bet in.
This plan helps you to maintain discipline and also specialize in one area. Having a set amount of money to bet per game is key to mitigating greed that could lead to losses.
Specializing in a specific sport is also key to ensuring you master it better. Remember the more knowledge you have, the higher your chances of winning in sports betting.
3. Emotional control
The fact that you can make and lose money easily in sports betting makes it a very emotional trade. However, you must keep emotions in check to ensure you are in control.
In most cases, if you win, it is natural to want to win more. This leads you to place more bets that later result in losses. The same happens if you lose. Naturally, you will want to recover your losses and still make a profit. To achieve this, you over-bet. An approach that can lead to more losses.
Hence, you should learn how to control your emotions and only bet on your strategy.
4. Bet with what you are willing to lose
Betting is a highly risky venture as there is no guarantee of winning or losing. Hence, you should always be prepared for the worst.
To achieve this, only bet with the funds you are willing to lose. Doing so helps to minimize your losses and lowers the emotions if losses do occur.
According to statistics, only at least 5% of sports betters win in the long term. Hence, there is a 95% chance you will fail.
5. Join a reputable betting company
Ensure to join a betting company that is reputable and licensed in the country. A good betting company should offer various payment platforms such as M-pesa and bank payments.