Things to Know Before Placing Your Next Sports Bet
Sports betting is a fast pace niche of gambling due to the fact that bets on placed in real time allowing punters to watch the action on their sports bet. Taking into account that punters are often familiar with the sport, there’s still a lot of other key points to consider before they placing a sports bet. All in all, increasing the return on investment of a sports bet takes into account knowing key factors that in essence influence the bet positively.
In the first place, what makes a sports bettor above average? Plenty of factors are involved in long term success of any gambler. In a word, they ‘evaluate’ all game factors. Ordinarily most sports bettors handicap games to some degree. However, an above average sports bettor specifically goes further. For example, analyzing the health and play of all positions on the field even positions that may be overlooked such as offensive line and fullback. After all, great bettors take in the whole picture as they logistically piece together a bet.
For the most part, above average sports bettors are great with evaluating money and lines. Moreover, they are consistently seeking to improve their understanding through gameplay and homework. To be noted, above average sport bettors also understand the importance of discipline and use it within implementing strict money management guidelines. For example, setting reasonable unit sizes in relation to total bankroll. After all, if you don’t look out for yourself, no one will especially in regards to punting in the gambling industry.
Above average sports bettors evaluate all game factors
Pro sports bettors understand that even the best punters only hit 60% against the spread. In other words, they are going to lose four out of 10. In the long run, it just isn’t worth it to go mental over the outcome of a game, win or lose. Keeping a clear head and remaining confident is ultimately what defines an above average sports bettor and it’s the difference between winning and losing in the end.
9 Keys to Profitable Sports Bets
9.) Appreciate the Concept of Value
Finding value is the name of the game in sports betting. A value situation is where the odds on offer from a sports book reflect a probability that is less than the actual probability of that outcome occurring. Calculating the value is tricky, so let’s break it down to understand it better.
For example, consider Manchester United is playing with odds of 2.50 to win. The odds of 2.50 imply a probability of Manchester United winning at 40%. Furthermore, let’s also say we’ve calculated our own probability of Manchester United winning at 50%.
To calculate the value: (50% multiplied by 2.50) minus 100% = 25%.
If the estimated probability of a Manchester United win is correct, then it is indeed a very good value situation. On the other hand, if the assessed probability is less than the sportsbook odds implied probability of 40%, then the odds of 2.50 do not represent value.
8.) Hone Thy Math Skills
In brief, sports betting is essentially a numbers game. One with which a punter requires an adequate relationship with division and multiplication. In the long run, understanding what the odds reflect in terms of probability as well as a viable staking plan is key in betting strategy.
In short, assessing value in any betting event is fundamental in understanding the implied probability reflected in the given odds. Moreover, the goal is to bet on odds that have a lower implied probability. To be noted, you want to bet odds that have a lower implied probability than your own personal assessed probability of that particular result occurring.
7.) Understand how Odds are created
Generally speaking, sportsbook odds are more a reflection of what they expect the general public to play as opposed than on the actual probabilities of either outcome. For the most part, sportsbooks set their odds so as to attract betting on either side of the odds. Ultimately in doing so, they balance liability. Thereafter, do what they do best, take commission.
6.) Specialize thy Betting Strategy
Above average sports bettors specialize in 1 or 2 sports or even 1 league within a sport. After betting on several different sports, punters may discover they are more profitable in some sports more than others. Overall no one system can work for all sports and leagues.
In any event, betting models that work on sports with 2 possible outcomes, for example tennis or basketball normally don’t translate to sports where the draw is a common outcome like in soccer or cricket. Therefore when a punter discovers the sports niche they’re more profitable in, they’ve found not only a sweet spot, but also a betting model that’s a banging specialized success.
In either case, always study the form and relevant conditions for a match. In this day in age, with all the statistics available at your fingertips online it takes moments to research a team’s past performances, injuries and the weather. Ultimately when developing a betting system, doing your statistical homework in regards to sports betting strategies is pivotal.
5.) Be Disciplined and Be Rewarded
Although punters are in fact mortals and prone to mistakes, an above average punter understands the importance of discipline. Moreover they implement betting rules or a code that helps to avoid making common betting mistakes. Thereby they bet in a more consistent and controlled way. Laying a solid foundation in construction is integral to the strength of a building and so goes the same for setting discipline in a punter’s strategy.
- By and large, only bet on team sports.
- Overall, only bet when undistracted and able to concentrate.
- To be noted, never bet on something because you want it to happen.
- Only bet within a system, never bet for the sake of betting or for fun.
- Most importantly, only bet amounts that you can afford to lose.
- On the whole, always research before betting.
- Place bets at least 5 minutes before the deadline.
4.) Don’t Go Emo On a Loss
The power of positive thinking means rather than ruminate on a loss, concentrate on letting go. In essence, holding onto a loss creates a funk which is just as detrimental as bad energy. There’s may be something to be learned from the loss, take it and go. Whether it be that you win some and you lose some or perhaps that you may have to take a look at the signs of problem gambling. Overall, the stakes are high in the gambling industry. Which could potentially pose a threat if and when a punter is unable to distinguish between gambling for entertainment and problem gambling. Master your monkey mind and learn more about mastering the emotional side of gambling in Trading Secrets Of the Mind.
3.) Respect thy Bankroll
Money management is an important fact of sports betting, yet most punters experience problems with it. First and foremost, a sufficient bankroll is essential. It’s important to remember that even the best handicappers experience long losing streaks. Anticipate to have a bankroll equal to at least 100 times your base betting unit. For example, if you bet $50 per game, then expect to have a bankroll of at least $5000. In essence, this ensures that a punter stays in the game when they experience a long losing streak.
Another popular sports betting money management technique is to bet the same amount on every game. Every sports bet you make should be worthy of 5-star status, or don’t make the bet. It’s that simple. Your staking plan, in other words, how much you stake per bet, is as key as the bet selections themselves. Punters have a couple choices. A.) Choose to stake a certain amount per selection and let the odds decide their potential winnings. Or B.) choose to win a certain amount per winning selection and let the odds decide the stake.
As a matter of fact, another bankroll technique for building a bankroll without the risk of losing it all back is to withdraw half of your winnings. Afterwhich you leave the other half in the betting account to grow the bankroll. Punters can then adjust that up and down depending on if they want to grow the bankroll. However, stay curious about other bankroll strategies out there for sports bettors by watching Sports Betting Bankroll Management Strategies.
2.) Grind Out A Profit
Grinding out a profit one game, day, weekend, month and year at a time is what sports betting is all about. Imagine for a moment, if you could win 55-60% of your sports betting investments, then you could seriously grind out a profit. Fact is that you will lose bets because that is after all a part of it. As soon as you lose a bet, put it behind you and focus on the next one. To be noted, another key point is that many punter chase their bets good or bad with bad bets however this is not grind out a profit. Know the difference by watching the following video about The 3 Ingredients of Winning and Profitable Bets.
1.) Be a Choosy Sports Bettor
Know the value of the bet and especially know what your bet is worth. Above average sports betting requires punter search for the best line possible. After all, even a ½ point can often be the difference between winning and losing or winning a pushing a bet. Moreover when sports betting online, you should bet at least three sports books.