How To Get Good At Sports Betting

A good record for a sports bettor is any record equal to or larger than 52.4%, because that number or anything higher means you’re not losing money. A 53% winning record, while not impressive on paper. Understanding odds is the key to figuring out which bets are worth taking. Odds are displayed in a variety of different formats, but all are easy to understand. You can use odds to calculate the implied probability of a certain outcome in a sporting event. Understanding how to read odds.

When it comes to wagering on sports, the future has arrived. New laws and attitudes about gambling have made the hobby more accessible and accepted than ever before. Gone are the days of dealing with shady figures and defensiveness from professional sports leagues when the topic is brought up.

The rise of fantasy football and US sports betting apps have brought even the most fringe sports fans into the world of sports gambling. Some of the biggest sport shows on TV discuss lines, spreads, and odds in great detail.

But if you’re completely new to sports betting, you’ll be surprised at some facts you may not know about betting and how it works.

Follow me on twitter - this video I go over 4 basic sports betting strategies that when implemented will make you b. Sports Betting Explained: The Basics. Benefits of Sports Betting. Sports betting is one of the more.

Although whether you’re a casual sports fan who’s just looking to make a few extra bucks during the weekend, or a hardcore, analytical individual who thinks the right system could be extremely profitable, these sports betting tips are what you need to know to get started.

1 – Create a Betting Bankroll

Your bankroll is crucial because it’s the key to keeping track of the money coming in and going out. Your bankroll should keep you in check and help you avoid spiraling out of control, or making bets that can really hurt your bottom line long-term.

Creating a bankroll isn’t difficult. Set aside an amount of money you can afford to lose (this is important) and don’t add more to it without serious consideration. Next, determine a percentage, or a percentage range, of that overall amount that you’ll bet on each game.

The key to being a profitable sports bettor is to keep track of the numbers and manage your bankroll. Without an adequate tracking strategy, you put yourself at risk of suffering big losses. If you’re just starting out, develop this habit from the jump and you’ll be better off for it.

2 – Learn the Different Types of Sports Bets

When you really get down to it, there are nearly endless types of bets you can place on sports. There are even secret US sports bets that many bettors don’t know about unless they’ve done their research. However, when you’re just starting out, it’s best to focus on the more popular bets and get a good handle on how it all works.

I’ll lay out the three most common that can be utilized effectively on just about any team sporting event.

Moneyline Bets

The moneyline is what you bet on when you’re choosing a team to win the game outright. You’ll see it listed beside the team as a (+) or (-) number. For example, in a game between the Colts and Packers, you might see “Colts +200” and “Packers -160.” This means that if you bet $100 on the Colts (the underdog) and win, you’d come away with $200.

On the other side, it would take a $160 bet on the Packers (the favorite) to win $100. Note that you don’t need to bet $100, but that’s the scale. For example, you could bet $10 to win $20 or $16 to win $10.

Spread Bets

Betting on the spread is a favorite of gamblers because it makes every game interesting. An example of a spread might be Eagles vs. Cowboys, with Eagles at -3.5 which would make them the favorite. On the other side, the Cowboys would be the underdog at +3.5.

If you bet on the Eagles, they must win by more than 3.5 in order for you to win your bet. If you bet on the Cowboys, you’d need them to lose by less than 3.5 and you’d come out on top.

When there’s no half-point involved, it’s possible to tie in what’s known as a “push.” For example, if the Eagles are -4 and end up winning by 4 exactly, nobody wins and you get your money back.

Over/Under Bets

Don’t really know who has the advantage in a game but have a feeling it’s going to be a high-scoring affair? Throw down your bet on the over! The over/under is probably the most simple bet in the game. The book will provide a number, and you decide if you think the combined final score will be over or under that number.

You might notice that in most of your bets it isn’t a perfect 1:1 risk to reward ratio. Typically, sportsbooks will make each “evenly-matched” bet, such as the spread or the over/under, a -110 proposition. That extra 10 is known as the “juice.” Essentially, it’s how the books make money if there’s 50% of the money on either side. There’s all kinds of betting math to understand, but you’ll pick up on it as you become more familiar.

3 – Find a Good SportsBook (But Don’t Get Too Loyal)

One of the best things about the increasingly relaxed laws regarding sports gambling is that several online sportsbooks are competing for your business. If you shop around for some deals that online books offer, you can find some that are worth exploring.

For example, several online books offer a matching bonus such as a free $100 when you load up $150 onto your account. It’s easy to think these offers are scams, but they’re genuine attempts to win your loyalty.

This is where another important tip comes in. Don’t become overly loyal to one particular sportsbook. On any given bet you’re looking to make, there’s a good chance you can find an offer on another site that gives you slightly better odds or a higher payout for your money.

This applies to regular sportsbooks, too. Say you’re visiting the Las Vegas’ Westgate sportsbook, you may be drawn in because it’s the largest sportsbook in the world. This shouldn’t stop you from shopping around the books over at Caesar’s Palace Casino.

They’re both great sportsbook options and could be offering bettors different moneylines.

So while it’s easier to just stick with one site where you feel comfortable, if you’re looking to make money and not just bet for entertainment, choosing the right book or books is very important.

4 – Don’t Chase Your Sports Betting Losses

This goes hand-in-hand with effective bankroll management. When you inevitably lose one or more bets, you want to make up your money as quickly as possible. In fact, you might even try to make up from two $20 losses by betting $40 on the next game. Don’t do this.

You’re going to have stretches where it feels like you’re losing the majority of your games. On the flip side, you will have stretches where you get hot and win a few in a row. The key to sports betting is to never get so deep in a hole that you put yourself in serious financial jeopardy.

It’s hard to do, but focus on making up losses by going slow and steady, not by taking a major risk. Effective sports betting is a long-term game and avoiding big losses is the best way to stick around until you’re safely in the green.

5 – Don’t Bet Blind

If you think sports betting is simply a game of chance, you’re not looking at it correctly. Having some degree of knowledge of a particular sport is hugely advantageous.

Just make sure that you’ve done some type of research before placing a bet. Remember, you don’t have to bet every game and sometimes, the best option is sitting it out.

Conclusion

Sports betting, for most, is a fun hobby that can put a few extra dollars in your pocket while increasing your enjoyment of watching the games. Before you dive headfirst into the action, take some time and get familiar with the options available to you.

As you get comfortable, you can experiment with all the other betting options like parlays and teasers, but as a beginner, it’s good to stick to the basics. As with any good vice, everything in moderation. Good luck!

See All Guides

There’s a lot of information on the internet claiming to offer “foolproof” methods to instant sports betting success. Unfortunately, there is no such thing. Becoming a successful sports bettor requires hard work, determination, knowledge, and experience.

Part of gaining these necessary skills is to learn which strategies to apply and when to implement them. In this article, we’ve compiled 10 quick betting tips and strategies that will move you towards being a stronger, more successful bettor over time.

Like anything worth doing, achieving a better sports betting winning percentage takes both time and perseverance. Sports betting is not tantamount to gambling, so we advocate betting with skill, measure, and precision. Don’t leave everything up to luck!

1. Manage Your Bankroll and Create a Unit Size

It’s integral that, as a sports bettor, you decide how much money you’re going to dedicate towards betting on sports. Of course, this hinges on your individual financial situation. It’s never wise to bet money that you can’t afford to lose.

Now that you’ve established a pre-ordained bankroll, decide on unit size. We recommend that beginner bettors stake 1-5% of their bankroll on every bet they make.

This is undoubtedly thecrucial first step in becoming a more successful sport better. Every single “sharp” scrutinizes both their bankroll and unit size regularly. For more information, we’ve written a whole guide on sports betting money management.

2. Understand Your Risk Tolerance and Goals as a Bettor

Different types of bettors like to make different bets. The sooner you decide which types of bets you prefer making, the sooner you can perfect your strategy and start winning.

Some people like to bet on significant underdogs or highly improbable events. They’re attracted to the longest of long odds. These are the same bettors who are more inclined to create huge parlays and bet on games like the Browns beating the Patriots on Monday night.

Others have a preference for smaller profits, but more likely outcomes. Betting on heavy favorites and welcoming short odds may not pay out as big, but these bettors are likely to win more often.

Some bettors think strategically, with a long-term view of players or teams. These bettors spend a lot of their time and bankroll in the futures marketplace.

You may bet once a week or stay active in sportsbook live betting, placing many bets every day (or even multiple bets on the same event).

Of course, none of these types of bets are mutually exclusive. Seasoned sharps are highly active in every single kind of wager, no matter whether it’s got long or short odds attached to it.

Focusing on one particular kind of bet is a wise move if you’re looking to improve quickly.

3. Develop Realistic Expectations

A successful “sharp” wins 54% of the time. A historically great “sharp” wins at around a 60% clip. These are the best sports bettors in the entire world.

Wanting to achieve these numbers at the jump or even over an extended period of time is a tall order. We can’t stress this point enough.

Even if you win your first 10 bets (which is not unheard of), the law of averages suggests that unfortunately, you’ll come crashing back to the earth at some point. Knowing this and setting realistic expectations can help prevent you from doing anything rash.

Don’t deviate from the strategy and methods that made you win 10 in a row in the first place.

4. Keep a Record of Your Bets and Review Them Periodically

This strategy might seem unsexy, but it’s nevertheless incredibly important.

It isn’t fun to revisit losses, but if you do, you might prevent yourself from making the same types of mistakes twice. Sometimes, you’ll lose bets even if you’ve done everything right. Other times, you knew you were reaching, but made a bet anyway. Correcting misguided reasoning will benefit your bets in the long run.

An occasional retrospective on your successes and failures will doubtless provide a long-term boost to your bankroll.

5. Bet with Your Head, Not Your Heart

The majority of sports bettors began betting because they were sports fans. As such, they probably had allegiance to one or more teams. If this applies to you, we’d recommend from abstaining on betting on any event related to your favorite team (or teams).

Loyalty can cloud our judgment, and we recommend being rational and measured in your sports betting. Bias can affect us in both conscious and unconscious ways. For this reason, we recommend skipping lines that you have a personal interest or an emotional investment in.

6. Avoid “Sunk Cost Fallacy”

For this tip, we’re going to borrow a standard term from behavioral economics. The “sunk cost fallacy” means that the more time or money one invests in something, that harder it becomes to abandon. This encompasses everything from business investment to a bad relationship.

Decisions are colored and tainted by accumulated emotional attachments related to the investment. People engaging in the “sunk cost fallacy” will throw more money at a project or venture that’s doomed, just because they’ve invested so much time in it already. They simply don’t know when to cut their losses.

This applies to sports betting just as much as it pertains to investments. If you’re having a bad day, cut your losses. And whatever you do, don’t keep upping the size of your bankroll to cover a nasty losing streak.

7. Bet on One Sport

As Warren Buffet says, invest in what you know. The same applies to sports betting.

If you’re new to sports betting, it’s worth it to stick to the one sport you know the most about. You’ll already be ahead in the methods you need to get an edge in over the bookmakers, just based on your pre-existing knowledge of how the game is played.

You’ll already know how to evaluate players and teams, and where to gather information about the sport. This is integral to finding the smartest wagers.

8. Line Shop

Line-shopping is all about taking advantage of pricing discrepancies between the same event at different sportsbooks. Finding the best odds possible is guaranteed to have a significant positive effect on your sports betting ROI.

Line shopping is the closest thing to a foolproof, sure-thing strategy in sports betting. It’s guaranteed to net you bigger profits and long-term success in sports betting. The sooner you start doing it, the better.

We’ve written a full guide on all things line shopping, and why it’s essential.

9. Hedge Your Bets When It’s Appropriate

At its core, hedging is a risk management technique that can be applied to sports betting. It’s a way to either reduce your bankroll exposure or lock in a profit on bets.

How To Get Good At Sports Betting Tips

Hedging is complicated and beyond the scope of this quick strategy guide, but every hedge you make will be done by betting on a result that’s different than your original wager.

10. Do Your Research and Talk to Other Bettors

In the age of the internet, getting involved in the sports betting community has never been easier. Join sports betting forums, peruse sportsbook-related subreddits, and talk to anyone you know in real life who may be keen on sports betting.

Not only will you become more accustomed to sports betting lingo, but you can also exchange sports betting strategies with your friends.

Patience Is a Virtue

As we’ve mentioned, becoming a successful sports bettor takes time. As you develop more in-depth knowledge and comfort within the sports betting world, you’ll start to see a more significant ROI.

Sports Betting Tips And Tricks

Remember, never become a gambler. Everyone has rough days sports betting, but betting responsibly and sticking to a plan will help you remain successful. Discipline is integral to keeping your cool, having fun, and staying successful.

How To Get Good At Sports Betting Games