Millions of sports lovers across the globe watch events and believe to themselves, “Betting on sports must be simple.” I have some bad news for those of you who believe that: it isn’t true. To break even after accounting for the “vig” or “juice,” one must hit 52.4 percent of their bets. Less than 60% of the bets made by the most successful experts are right whether they are betting on golf odds or Kentucky Derby odds. Everyone, no matter who they are, will be affected by a cold spell.
When it comes to sports betting, there is no way to guarantee success 100 percent of the time. There are, however, certain things you may do to improve your chances of success.
Prioritize Quality Over Quantity
In an average NFL week, there are 16 games to wager on. Many gamblers will wager on every game every week, whether it is against the spread or on the total. Some gamblers may do the same thing if they see a big MLB weekend or a night of NBA or NHL activity.
While this may work for a few weeks, it is a losing proposition over time. Remember that the more bets you place, the more money the sportsbooks take in commission. Examine the games you want to wager on and rank them according to how confident you are in them. As a general guideline, I wouldn’t bet on more than five games in a single day.
Do not Bet on Parlays
Bettors are drawn to parlays because of the potentially large payoff if their wager wins. A normal two-team parlay pays out at odds of 2.6:1. If one is fortunate enough to strike an eight-team parlay, they might win 150 times their initial bet.
Making a parlay bet rather than separate bets on the same games is not a bad idea. However, don’t be seduced by the prospect of a large payoff if you have to hit six or more parlay legs.
Look for the Best Lines While You’re Shopping
Many gamblers have a “go-to” sportsbook where they feel at ease. These same individuals may be unaware that other sportsbooks may provide better odds on the games they are wagering on.
Even a half-point differential on a line may be important in several sports. If one bets on a team to cover an 8.5 point spread, that team must win by at least nine points. If the same team is given an eight-point spread, they are less susceptible since winning by eight is no longer considered a defeat. Instead, the bettor would “push” his or her stake and get a refund.
There’s no risk in creating accounts at different sportsbooks, given how safe they are. If you do, you’ll have the luxury of comparing lines at several locations and placing yourself in a position to take advantage of the best line every time.
Use Live Betting to Your Advantage
While pre-game wagering is the more usual method, in-game wagering may sometimes be more profitable. Sportsbooks often use algorithms to compute live spreads. As a result, the “flow of the game” is not as important as one would believe.
Let’s assume one football team is seven points ahead of the other at the start of the game. The live spread will almost certainly be double digits if the favorite scores a swift early touchdown. As a result, many bettors find success in live betting on the underdog in situations like these, as the oddsmakers’ initial lines are typically very accurate. It is possible to profit by believing that there will be some “regression to the mean” and that the game will conclude closer to the initial line.
Do Your Homework
It goes without saying that the more time one spends researching before betting, the more likely they are to win. Appropriate research may be accomplished in a variety of ways. One can look up weather predictions or remain up to speed on injury news. Things like how a team is doing right now or previous performances versus their opponent should also be considered.
All of these instances may be categorized as research that does not need much digging. You generally shouldn’t wager on such games if you have to perform considerable research on individuals or teams and feel like you’re starting from zero. Stick to what you know instead of deluding yourself into thinking you can make money betting on sports you don’t understand.