In this guide we're going to look at one of the most important questions for anybody who likes sport betting, that is how you win. It's not super easy to win otherwise everybody would be doing it but if you're smart, patient and manage your expectations then you can do well. Let's get stuck in to the key concepts.
This may sound obvious but it's essential to have a good understanding of what you're betting on, or at the very least be following picks from experts in that field. Whether you're an NFL expert, a basketball fan or have a passion for Romanian table tennis, you should use your background knowledge of your chosen sport to inform you betting.
For example, if you spend every Saturday and Sunday watching football then you have a wealth of experience and knowledge that will help with your betting and it'll help you decide where the value is.
You don't always need to be an expert in a sport yourself. If you have access to talented handicappers, such as those at OddsChecker, then you can rely on their expertise to inform your betting too.
It's important that you understand what you're wagering your money on though, so make sure that it's on a sport that either you or the person giving you the pick, truly understands. There's no easier way to lose money than betting on random sport at 2am. Don't do it, you need to be smart.
Value is something that you hear bettors discuss often and it's something you need to understand if you're wanting to make money long term within betting.
Sharp bettors look for value in the betting market and that informs their decisions. If the Lakers are -150 to beat the Heat on the moneyline then they're big favorites but it may not be a good value bet. That will depend on form, injuries, schedule and more. However if the Heat have a team decimated by injuries, are coming in to the game on a back to back, and haven't won in 7 games, while the Lakers are fully fit, you'd say that it was value to back the Lakers.
A value wager is one which is priced differently to what you'd think that it should be. Sometimes the value bet in a market may not be the favorite. A +500 bet implies a 16.7% chance that it happens. So if one team is +500 to win a game, but you think they have a 30% chance of victory, and not 16.7% chance, then they are a value bet and one which should be looked at.
Another way to find value is to react to breaking news. For example, if the New York Knicks managed to acquire some All-Stars during free agency then you'd expect their NBA Championship odds to shorten. If you notice that one sportsbooks hasn't shortened their odds after the news, while others have, then it could be a good value wager.
As mentioned above, it's key to look at a multitude of sportsbooks. If you only bet with one book then I'm sorry, but you're doing it wrong. By opening accounts with multiple legal books within your state it means that you can get the best price on any wager.
For example, if want to wager on Bryson DeChambeau to win the Masters and you only have one sportsbook, and he is +1200 with them, you might be losing out if another book is offering him at +1600. Smart bettors shop around.
That's when using OddsChecker becomes essential. By using OddsChecker you can compare the odds with the legal books in your state, on every sporting event, that way you can ensure you get the most bang for your buck. If you're not comparing odds with OddsChecker then you're leaving cash on the table. Be smart and use OddsChecker.
Not only do you get a wider pool of odds and specials by using different sportsbooks, you also get to take advantage of many great free bet offers when you join a new book. You can view the latest free bet offers for bookmakers in your state HERE.
Another key part of making money through sports betting is bankroll management. Bankroll management is a phrase which you may have heard before, but in short it's about being sensible with your stakes.
Firstly, I'd recommend picking a unit size, this will be a base measurement for a sum of money to wager on sport. If you're unit is $10, then it means whenever you make a bet you should do it in multiples of that unit. If you're super confident on a bet then use 3 units, if you're not so sure then use 0.5 units.
By keeping your base unit the same it'll mean you're consistent with your betting. That means you're less likely to bet too much or too little. Not only that but the vast majority of good handicappers will recommend bets by unit, which gives you an indication of their confidence and telling you how much of your bankroll you should be staking on any event.
Another thing that can help with bankroll management is to track your bets. By tracking bets through a spreadsheet you can keep a close eye on profits and losses. Not only that but you can see which sports and markets you are best at betting on, and where you are weakest. Tracking your bets might not seen glamourous but by being responsible with your betting you can give yourself the best possible chances of winning at sports betting.
This one is an obvious one but you must follow you head and not your heart. If you're a die hard New York Jets fan then you could get suckered in to betting on the Jets each week, something which hasn't been very profitable over the past few years. Instead you should use your head to influence your betting and not just follow heart.
Take advantage of the wealth of stats that are available to bettors now, soak in all the stats you can, and listen to all the handicappers and experts that you can.
In most walks of life it's key to use your head and sports betting is no different. If you're following your heart and not your head then ultimately you won't be profitable long term. Sports betting is a slow and steady race and by using your head and following data, trends, news, you'll go a lot further than if you just follow your heart and back the teams you root for.
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