Following tipsters is a controversial decision. Many sports bettors eventually try it, some with success and some with failure. That leads to the question – is it worth it to follow tipsters? And how do you determine if a tipster is worth tailing?
The truth is that you have to be really careful when following tipsters.
You have to make sure the tipster actually knows his stuff. And before you put any money down, it’s usually a good idea to observe his performance for a while.
If you find a solid tipster (or multiple solid tipsters), following them can be very profitable. But if you accidentally follow a bad tipster, it can be very risky.
How to determine whether a tipster is good or not
Start by checking the statistics of the tipster. If he shares his stats, you can look into everything and see if it looks legit. Some things to look out for are whether he beats the closing odds and whether his ROI is realistic. If a tipster claims a 30% ROI or something ridiculous, it’s probably illegitimate.
You should always calculate the P-value of the tipster. The P-value can help determine whether the results are due to luck or skill. You will need to know the number of bets, the ROI, and the average odds.
If in doubt, search for reviews of the tipsters you want to follow. See what other people are saying. This can be on other websites or on social media. There’s usually a decent amount of information about the well-known tipsters out there.
The best tipsters are usually those who specialize in something. It’s hard to be profitable in all markets. Beating the bookies and the sharps requires a lot of insight, so tipsters shouldn’t aim too widely. If someone bets on multiple sports, they are probably not as successful as they say they are. But if someone specializes in a sport, and even a single league, it’s a really good sign. You wanna have experts that provide quality tips. That’s the whole point.
Is it worth it to pay for a tipster?
Some tipsters are free. Even some very good ones. In that case, awesome. You can just follow the bets and hopefully make a profit.
As for paid tipsters, it may or may not be worth it. It depends on their price and the amount of money that you place on your bets.
If you pay the tipster $1 per tip, but you only place $10 per bet, you would need a ROI of 10% just to break even – and more than that to profit. So clearly, it will not be worth it.
But if you pay $1 per tip and you place $100 per bet, it suddenly looks much better. The tipster would just need to have a 1% edge on average for you to break even. If he has a 5% ROI, which is very realistic for a pro tipster, you would make a solid profit this way.
You still need fundamentals
You still need to have your own betting fundamentals on point.
That means choosing the select staking strategy and not betting too much of your bankroll on each bet. 1-2% of your bankroll is usually the ideal amount to place on each bet.
You also need access to the best bookies. The odds are always the most important. So make sure you get odds that are equivalent to or better than what the tipster recommends – otherwise, you won’t accomplish the same ROI as the tipster.
So sign up with SEVERAL of the best bookmakers so that you can always find the best odds on the market.
If you’re betting with normal currencies, there’s no better place than Sportmarket. It’s a bet broker that gives you access to all the sharp bookies from one single account. From Sportmarket you can place bets with PS3838 (Pinnacle), Betfair, Betdaq, SBO, IBC, ISN and others. No personal limits and always very, very competitive odds.
Research your tipsters well. Read reviews from other people. Make sure your tipsters are honest, profitable, and worth following – especially if you’re paying for picks. Have your own fundamentals in order. Solid money management and access to bookies with high odds.
If you accomplish that, you can have success following tipsters long-term.
If not, you may end up following bad tipsters and risk a lot of money. So be careful out there – but there’s certainly potential when things are done right.
Smart Betting Club has great tipster reviews and is a solid source of information. Check it out.
We also have a few tipster reviews here on BoldSharps. Not that many yet, but we are always adding more reviews, and they are free to read.