9 Best Sports Betting Strategies to Maximize Your Winnings (2025)

Sports betting is a blast, but many bettors simply fire away without a cohesive strategy. This is not a recipe for long-term success. Instead, bettors need a comprehensive sports betting strategy- a structured, data-driven approach based not just on random choices, but a consistent plan.

Strong sports betting strategies won't mean a guaranteed win every time, but they will likely yield better overall results. So, if you’re betting on the NHL or CFL with a cohesive professional sports betting strategy, there’s a real chance you can walk away a winner.

Below, we’ll dive into everything you need to know to create the best sports betting strategy possible, with tips, information, and useful guides. Ready? Let’s begin!

When developing a sports betting strategy, there will be some rudimentary, starter strategies that every bettor should have a grip on. These are the basics, the building blocks to developing successful overall betting habits.

Before we move on to the more advanced strategies, let's check the boxes. Below, we'll cover some clear basics that all gamblers need to know when building their sports betting strategies.

Anyone who knows the basics of betting odds understands that many websites have different odds for the same events. This is something that can give the savvy sports bettor a competitive advantage. Even small differences in the lines can be a major boon to gamblers.

Let’s say, for example, you wanted to bet on the Maple Leafs to win their game that night. On Sportsbook A, the line is +105. On Sportsbook B, the line is +115. If you were to bet $100, the difference in your winnings would be $10.

While for one bet, that may not be substantial, if you continually search sportsbooks and betting apps for differences in line, that can yield to substantially higher payouts long-term.

One thing that is crucial is to be cautious with your money. Bettors should practice bankroll management and avoid chasing their losses. Set aside a fixed amount of money for a period of time that you are okay with losing, and deposit that into your account. Make bets that are only a small percentage of the amount you’ve deposited.

If you find you are losing the money fast, the best solution is not to deposit more and keep going. Bettors should dial it back, take a beat, and stick to their payroll plan. This will help stretch your budget and ensure you are not developing problematic gambling tendencies.

One thing that should not go overlooked by gamblers is the benefits that sportsbook bonuses can provide. The smart use of bonus offers can yield phenomenal results for gamblers by limiting their risk and giving them the ability to earn extra money.

Bonuses typically range from matched deposits and parlay boosts to free bets. Matched deposits are great for welcome bonuses, as gamblers can earn free additional gambling credits that go to their account. However, be warned that some sportsbooks place untenable terms and conditions on these bonuses, so bettors should exercise caution.

The type of bonus that is most ideal for strategic gambling is a free bet offer. These are no-risk wagers from a betting site for a set amount. Gamblers can wager without any downside, meaning they can place bets on riskier outcomes without losing their own money, or cash a safe bet for some extra cash.

Bettors should browse betting sites to check which bonuses they have available.

This is one of the clear fundamentals of betting. Odds are part of the basics of how sports betting works. They tell bettors how much they will make by wagering on a line, and they also indicate the projected probability given to an event by a sportsbook.

The most common form of odds used by Canadian bettors is the “American” format. These use + and - to indicate the projected payout.

The minus sign shows how much gamblers would need to bet to make $100 profit. It is used when a team or outcome is favoured to happen, meaning more likely than not. For example, if the Toronto Raptors are -200, a bettor would need to wager $200 to make $100 profit.

The plus sign shows how much profit gamblers would make on a $100 bet. It is used when an outcome is not favoured to happen. For example, if the Toronto Raptors were +200 to win their game, a bettor would earn $200 profit on a $100 bet.

One thing bettors need to do when building a sports betting strategy is focus on the right betting markets. This is something that is unique to each person and depends on your risk tolerance and level of knowledge.

The simplest market is the moneyline, which is simply a wager on the final outcome of a game. It is easier for beginners to bet on because it is straightforward and makes for an easy projection.

Another popular market is the point spread. This is when bettors wager on a projected score differential in favour of a team, determining whether that team will exceed the projected differential or fall short of it. The odds for spread bets tend to be even, meaning bettors can earn significant payouts if the lines are used correctly.

For bettors with a more significant risk tolerance, parlay betting is wildly popular. This is when bettors combine multiple bets into one, with the odds multiplying according to how many bets, or “legs,” are in the parlay. These tend to have massive payouts and can be incredibly enticing for gamblers.

Bettors can combine bets from multiple games into a parlay, or can combine multiple kinds of bets from a single game into a parlay. These forms of parlays are known as same-game parlays.

However, be warned, parlays are risky. Bettors often get too enticed by the great payouts and overlook the risks. I know I was guilty of that when I first started betting. While they can be a component of great sports betting strategies, bettors should exercise caution.

Finding the right market or combination of markets for your betting should take some time. Experiment with the different options, from player props to point spreads, and find the ones that align with your risk tolerance.

Now that we’ve covered the basics of a sports betting strategy, let’s get to the more advanced strategies. These are the strategies that may take a little more time to master, but can yield massive results when utilized correctly.

Expected Value Betting

Expected value betting, better known as +EV betting, is when bettors only wager on positive expected value. Essentially, gamblers only bet when the odds offered a clear profit edge.

This form of betting requires some calculation. Bettors must calculate the probability of a win x profit and minus that by the probability of a loss times what they are staking.

For example, if a team has a 60% chance of winning (which bettors can calculate using the odds), and the line is 2.00 or +100, and the bettor stakes $100, then the expected value is (0.60x100)-(0.40x100), which is 60-40= +20. That means there is a positive expected value of $20.

While not every +ev bet will hit, if bettors stick with this strategy long-term, the results should be positive.

Betting Exchanges

Betting exchanges are a rare and unique way of gambling that not all bettors are familiar with. Essentially, they are a trading platform for gambling. These are marketplaces where bettors can create a wager and odds, and other users will bet against you.

A betting exchange allows individuals to act as the sportsbook. This is not for people who are inexperienced with betting. It allows bettors to make wagers against each other, and the fees tend to be lower than what is typical on a sportsbook.

Implementing betting exchanges into your sports betting strategy requires a high-level understanding of how odds work and some creativity. That is why it is not for bettors who are just getting started. But if used correctly, gamblers can earn winnings against other bettors who wager against them.

Arbitrage Betting

Arbitrage betting, also known as arbing, is considered a completely risk-free way to gamble. It is a form of wagering where gamblers take advantage of discrepancies between the odds listed on two sportsbooks to guarantee a profit, no matter what happens in the event.

Say Sportsbook A lists the Montreal Canadiens to win a game against the Ottawa Senators at +110. Bettors can go to Sportsbook B and see that they’ve listed the odds of the Senators to win at +110. If bettors wager $100 on both of these outcomes, they are guaranteed a profit.

The issue with arbitrage betting is that profits tend to be narrow, sportsbooks will ban users if they are arbing, and it takes a lot of time and effort to find lines where arbitrage is possible. Still, if done correctly, it is a guaranteed win.

Implementing Teaser Bets

Teaser bets are an advanced form of gambling that function somewhat similarly to parlays but require a little more gambling knowledge. Teaser bets tie multiple bets together into one, like a parlay, but they require multiple point spreads or total bets.

Bettors will select several point spreads or totals, and the sportsbook will give them a fixed number of points, typically around +6, which bettors can use to shave the lines. That means they alter the lines according to how they think the game will play out.

This makes the bets slightly less risky than a similar parlay, as bettors can alter the lines. However, the payouts are slightly lower than a parlay for that reason. Still, this is a unique and intriguing market for sports bettors, as it allows them to create their own luck.

So, why should bettors be working to create sports betting strategies at all? Why bother? The answer is quite simple. Online sportsbooks are not businesses built on the back of users winning big. They are highly profitable enterprises that tend to come out on top over time.

Casual bettors help line the pockets of these betting sites. But having a sports betting strategy can help level the playing field. Bettors who are disciplined and wager based on a set strategy are much more likely to see some return on investment than gamblers who bet according to their emotions.

Take, for example, a bettor who is wagering on the Vancouver Canucks because they love the team. They ignore the clear downside of the bet, like the fact that they're playing a team with a much superior record and their starting goalie is injured. They throw $50 on the moneyline and hope for the best.

Contrast that with someone who only wagers on expected value. They love the Canucks, but they know that sports betting success isn’t about who you like. It is about finding an edge and trying to beat the experts.

We’ve given you a sense of what to do when developing a sports betting strategy, but what about what not to do? Below are some common mistakes bettors should avoid.

Don’t Get Carried Away with Parlays: Some people swear by parlays, saying they are the best way to bet on sports. They may be fun, but they are also extremely risky. Be cautious with parlays.

Don’t Chase Your Losses: The only way to win long-term is to be cautious with your money. Don't try to bet away your losses; you'll only dig a deeper hole.

Don’t Bet According to Your Emotions: Betting should be a logical practice. If you want to beat sportsbooks at their own game, following your heart is not the answer. Use your brain, rely on a strategy.

Don’t Overlook Research and Analytics: Most sports have a huge supply of helpful data points that can shape gamblers’ bets. Look at stats before betting on teams and players. Recent performances, advanced analytics, and things like home/away splits or success against the spread are hugely useful.

Don’t Ignore the Experts: Sports betting is a saturated market, and there are lots of experts who offer useful insights for betting enthusiasts. At BettingTop10, we offer free picks from gambling experts to help our users.

We know this can all be a little confusing, but the point of this guide is to be a tool. With that in mind, below are answers to some of the most frequently asked questions about developing a sports betting strategy.