Gambling in its purest form is almost as old as humankind itself, we can see today that online sports betting is a major pastime for bettors across the globe and the United States. Many experts believe that the American betting industry will yield around $3 to $5 billion in revenue by 2023.
Which explains why betting on sports is such an attractive proposition; the language gamblers and oddsmakers use can sound complicated especially if you hear terms such as “the juice”, “over” and “moneyline”. This is why Sportbookcasinos.com is here, let’s just say that with us luck is on your side. Take a look at our best sports betting tactics and how it may improve your odds at winning.
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The Basics of Betting Strategy
No one becomes a sports betting expert from the get go, it requires a lot of hard work and grinding. The first thing you need to know is how sports betting works, the language bettors and oddsmakers use, know how the odds are created, which team is the favorite and which one is the underdog.
You must have a handle on the Juice, know the difference between the spread, the total and the moneyline. The easiest way of placing a bet is through our trustworthy betting sites above. Bear in mind, that no sportsbooks are the same, as a matter of fact the don’t offer you the same odds. Some of them will allow you to place large bets whilst others will force you to make smaller bets.
Another rule of thumb is to avoid handicappers and touts. In the United States there are still a few grey areas that needs to be sorted out, unfortunately the sportsbetting industry has a few sharks swimming around. People who sell picks are often referred to as ‘handicappers’ in sportsbetting circles.
In layman’s terms they study the games and make an educated guess on which team/s you must bet. Make no mistake there are legitimate handicappers, problem is the majority of them cannot be trusted. The goal off handicappers is not for bettors to win their bets but to sell their picks to them – this is how they make their money!
Setting The Line
Oddsmakers use advanced mathematics and complicated formulas to determine the odds. They use power ratings which basically refines the odds and it is a statistically indication of how strong or weak a team is.
For example, before a new season starts, the oddsmakers will take a team’s performance into account such as its winning percentage from the previous season and readjust it to the new season’s. Oddsmakers can then compare the actual wins against the projected Pythagorean wins of the team for the new season.
Bankroll Management Strategy
Bankroll management is one of the most important betting strategy’s that separates the successful sports bettors from the non-successful ones. The key is to know how much you want to bet on a game. If you bet too much you’ll lose your money quickly, if you bet too little you won’t make a profit.
Setting a bankroll aside and managing it is just as important as picking a winner. You must set out a roadmap that maximizes your profits and minimizes your losses.
Before you place your bets, ask yourself this question: How much can I afford to lose? Some bettors can afford to lose $100, some $1,000 and others $10,000. Always see your bankroll as disposable income and the amount you’re prepared to risk.
Stick to flat betting where you keep your bets consistent and build your bankroll up steadily. The perfect bet is 1% of your total bankroll, if your bankroll is $100, every bet should be $1. If you’re starting out cap yourself at 5 bets per day, anything more than this you’ll be venturing off into dangerous waters. Even the pros make two or three bets per night.
Win Totals and Futures Strategies
Win totals are popular to power ratings because casual and professional bettors can use them whenever they please. One can say it causes a chain reaction of sorts because the online sports betting sites immediately take in tons of cash, also known as taking in “action”.
Adjusting The Line
As a bettor another important thing to keep your eye on is when oddsmakers tweak or adjust the line. What exactly does adjusting the line mean? It includes homefield advantage, injuries to key players, the weather and head-to-head encounters.
When the team lost a start player, or just came off a blowout win, these odds are factored in by the oddsmakers. Once the line is set, oddsmakers notify the public. They are smart too because their goal is to release an opening line that sees 50/50 action on both sides. The reason for this is it reduces the risk and their liability.
Favorites vs Underdogs
The first things oddsmakers do is when they set the line is to find out who the favorite is and which team the underdog. This is done by considering homegrown advantage, which star players are injured, previous head-to-head record and the weather. Sometimes bettors bet more on the underdog than they do on the favorite, because if they win they can pocket huge sums of cash.
The Pros and Cons of Betting on Favorites and Underdogs
When you place your bets on the favorite team the winning team must win by a certain amount of points. If they don’t they can be handicapped with heavy betting odds. On the positive side, the underdog receives points and if they lose by a certain margin, they can still win the bet. Bettors can still risk a small amount of money and win a truckload especially if the underdog beats the favorite.
The Moneyline
The moneyline or just short for ML is another important bet and based on which team is going to win the game. It doesn’t matter by how many points the favorite wins just as long as they win. The cash amount you must risk is determined by the price of the moneyline.
Your payout is decided by the price of the moneyline if you win the bet. Moneyline prices start with even money which is displayed as odds of +100 or -100. Essentially you’ll win or lose the same money you wagered on the game, even money could also be described as pick’em. There is no clear favorite because they are both evenly matched.
Which Sports Use The Moneyline? All sports use the moneyline, it can be used baseball, soccer, hockey and football. Another reason why moneyline bets is popular with these sports is because their scores are low and the outcome is normally decided by 1 goal or 1 run. It makes it easier for bettors to just bet on who will win the game instead of by how many points the favorite will win.
Which Sports Use The Moneyline? All sports use the moneyline, it can be used baseball, soccer, hockey and football. Another reason why moneyline bets is popular with these sports is because their scores are low and the outcome is normally decided by 1 goal or 1 run. It makes it easier for bettors to just bet on who will win the game instead of by how many points the favorite will win.
Bet On Totals
Betting on Totals is another betting stratergy. Instead of betting on just one team, smart online sports bettors wager on both teams. If you bet the over, you are betting on both teams to score many points. If you bet the under, you’re betting on a low scoring game.
Don’t Drink and Don’t Go On Tilt
Never bet on sports if you are under the influence of alcohol. Las Vegas casinos offer their patrons free alcohol because they know when members become intoxicated they start betting more money and they become reckless. Whether you’re playing at an real money casinos or betting on sports, don’t drink!
You most probably heard the saying before “Don’t Go on Tilt”. It’s a popular poker saying that means don’t let your emotions get the better of you. If you do, it won’t bode well for you because an emotional player is usually a losing player. If you had a few losing bets, take a break by taking your dog for a walk or make yourself a cup of coffee.
Don’t Buy Points
Seasoned bettors know that buying points on the favorites or the underdog can be risky. Newbies often make the mistake without doing proper research first by buying points of -2.5 on a favorite NFL team. Sportsbooks usually have this down right to the ‘T’ because they charge a juice to compensate for this, without further a do it’s a bad strategy for you.
Conclusion
The 3 golden rules of our expertly crafted sports betting strategies are:
Do your homework. Learn the basics of the sport, the jargon and keep your expectations realistic. Before you place your first bet, know what you’re letting yourself in for. There’s no way to sugarcoat it. Being a successful bettor is rough and tough. Hopefully, our betting tactics will stand you in good stead the next time you bet on sports.