There are different types and levels of sportsbet action. They include money line wagers, pari-mutuel wagering, exchange wagering, fixed odds wagering, placing wagers on prop bets, parlay bets, in-game betting and the most popular of all – a simple bet on whether A or B will win.
You can also choose to place high-stakes bets or low level bets based on your budget and your betting strategy.
No one can promise that you’ll win on all your bets when wagering on sports. But if you’re careful, strategize and hold to some simple rules of safe betting, you’ll can enjoy a rewarding betting experience.
If you’re just starting out, start small. It may seem like a fun thing to do to throw a wad of money on your preferred team or player but you need to time to get through the learning curve. Keep your bets small as you watch what other bettors do and pick up some of their tips.
Don’t put too much on one event, especially in the beginning, because the more you spread your bets around, the more chance you have to watch the bettors around you and pick up wagering strategies. Don’t worry…..you’ll get better at sports betting as time goes by. It’s actually a bit of an art.
One suggestion for beginning bettors is to wager with individuals instead of with sportsbooks or bookies. If your bets are small, you can do this and eliminate the vig – the percentage of the bet that the sportsbook keeps. You can’t do this with larger bets because most individuals don’t want to cover large bets.
But at the beginning, as you’re developing your techniques, it’s a good way to hold onto as much of your money as you can while you’re navigating the world of sports betting.
As with any type of bet, you should make sure to set aside your gambling budget and never go beyond that, no matter what kind of “winning streak” you think that you’re on or however you rationalize dipping into other funds. Just don’t.
Don’t bet on events about which you know little. Focus on one sport, get to know that sport and play with your bets based on your research about the teams, the players, the weather, the game’s location and any other elements that may go into determining who will win or lose. Then place your bets.
Many sports betting observers suggest that, when you start betting on sports you focus on one specific element of that sport so that you can learn more about it while you get your feet wet. You can build your activity level based on knowledge. That will help you better evaluate the probable progress of the game. Once you are proficient at gathering and analyzing as much data as the people who are setting the lines, you can look forward to a profitable betting event.
When you do your research, you don’t need to evaluate all of the players, but rather, the most important players. For instance, if you’re betting on baseball, it’s more important to evaluate the pitcher than an outfielder. Not only that, but if you’re smart, you’ll anticipate replacements and evaluate accordingly.
For instance, if you’re evaluating the pitcher, it’s a good idea to evaluate possible replacements since most pictures are replaced halfway through the game. Quarterbacks are the most important football position.
This strategy is less important in basketball, soccer and hockey where the best players control the game more so than players at any specific position.
In most sporting events there are 2 different lines
- Point spread bet where you bet on the final score of the game – how many points will separate the winner from the loser
- Moneyline bet where you pick the team that will win
Spread bets generally cost 11 to 10 or 110 to 100, regardless of on which side you bet. In a spread bet you have to bet above what you can win. That’s the vig which is the money that stays with the sportsbook and allows it to make a profit.
There’s also a vig in moneyline wagers but it’s presented in such a way that, while it costs most if you pick the favorite, you’re still at a bit of an advantage because it’s easier to pick the winner than to estimate the point spread.
You might want to consider looking for underdogs that have a reasonable chance of winning. That way, you don’t have to pick as many winners to come out on top and you can win more than you risk.
Sportsbooks give you the option to compare lines from one sportsbook to another when you have multiple choices of where to bet. Options include retail sportsbooks, online sportsbooks, the corner bookie and more. The choice involves finding the best line for both moneyline wagers and against spread bets.
Once again, the research that you do before you place your bet is worth it in the end. By using line shopping, you can place a few extra bets using your pre-determined budget so the profits that you see at the end of the season will make up for those few hours of searching.
Searching for lines doesn’t involve a lot of skill. You don’t have to handicap the games…..check out the dozens of youtube videos that will give you concise and clear instructions on how to search for the lines.
We all have our biases of who we want to win. It’s natural to favor one team over another – your hometown team, the team that features your preferred player, etc. If you want to be a winning sports bettor, you should keep in mind that betting on your preferred team isn’t the way to help you achieve your goal of making money.
Since it’s hard to refrain from betting on your favorite team, you might want to simply create a rule for yourself that you won’t bet on “your” team’s games. That way, you don’t have to feel disloyal to your team but you can still move forward and place your wagers intelligently and in a way that gives you the highest percentage of winning opportunities.
If you’re looking at 2 teams that seem fairly evenly matched and you don’t have any firm reason to bet one way or another, go with the home team for the win. Home teams enjoy a statistical advantage in that they win more often than away teams. It shouldn’t be the deciding factor since there are many other elements to consider when weighing the strengths and weaknesses of the various teams. But it’s definitely something to consider.
Before you place that first bet, find out how sportsbooks make money. This information can help you optimize your wagers so that you manage your gap of profit. In short, the vig forms the basis for the sportsbook’s profit. Betting $110 for the possibility of winning back $100 means that the sportsbook is setting lines in a way that will, as much as possible, allow them to make sure that the same amount of betting action (more or less) occurs on each side of each game. Lines aren’t set based on the predicted final score.
If a sportsbook can get even action on both sides of a game, they focus on getting as much of that action as they can. Therefore, the bettor who accurately predicts the final spread of the game can compare those predictions to the available lines. If the line that the sportsbook set differs from the bettor’s prediction, you know that book is vested in creating equal action, more so than predicting the final score. Then, you bet accordingly.
To sum up, the sportsbook isn’t really interested in predicting the final score. It wants to create a line that sees action on each side. This is particularly important in big games where sportsbooks absorb a huge volume and need to set the tightest lines possible. So you will want to bet based on your understanding of those tighter lines.
If you want enjoy sports betting as a hobby, go ahead and bet on your favorite teams and hope for the best. But if you want your bets to make you money, treat sports betting like a business. That means:
- Establish a budget and keep that budget separate from your budget for needed expenses.
- Research your bets including the teams, players and other elements involved in the game.
- Develop a thorough understanding of the vig, moneylines and handicapping and how to make them work for you.
- Track successes and mistakes and learn from them so you can bet even better in the future.