For some, sports betting is a hobby, for others a fun activity, while there are few people who make their living off sports betting. Whatever your reason for indulging in this sport, you need to have complete knowledge about it to make informed bets and maximise your profits.
This ensures that your love for the game continues apart from having the time of your life. Even though the house never loses, there are ways when you can profit from sports betting. This is possible by understanding different betting strategies and choosing one which matches your sensibilities.
1] How to get started?
Since betting involves money, you need to be sure what amount you will be using to bankroll your sports betting venture. Get a dedicated account for placing bets and ensure that you have money to cover the season or year. Sports betting involves investing money for a longer time to balance the returns.
The minimum amount that should be kept aside should be 100 times the base bet you are planning to make. If you are a novice to the world of sports betting and are unsure of what your base bet should be, you can set aside a fixed sum and decide your base bet from it. You can keep the base bet to 1 or 2% of the bankroll.
If you wish to place bets, ensure that you have an account with a minimum of 2-3 sportsbook. This is important as you can compare the odds and make a calculated decision while placing your bets.
Moreover, some sportsbooks offer sign up bonus which is an added advantage. Thus, before finalising any sportsbook, be sure to find out more about their offers.
2] Make smart bets to win
Making a bet involves several rules, not just about numbers, but also about teams. Generally, you can bet with approximately 2% of your bankroll, however, if you are not confident about the bet, you can reduce this amount to 0.5%.
If you are confident about any bet, you can increase the bet, but ensure that it never exceeds 4% of your bankroll. Other tips include.
- Always make sure that you are confident about placing the bet; if not, stay away as you might end up losing.
- Experts recommend not to bet on your home team. This is because you will tend to be biased towards it and this might cloud your judgement leading to avoidable losses.
- Betting on every game is senseless. It is important that you choose your battles (in this case, games) wisely and bet on games in which you are confident to win.
- If the odds change before the game and you no longer feel confident about the bet, do not make the bet.
- If you have lost money on a bet, don’t try to win it back in the next one by betting more than usual. This might result in further losses. This is how most gamblers end up on a losing streak. The same holds true for a winning streak too. Stick to your betting schedule irrespective of your losses or wins.
- Remember to place your bets always with a clear mind. While making your bets, your complete focus must be on the odds of winning and the stakes you should involve. If you are betting in an emotional state (anger, worried or ecstatic) you might be putting your money at risk. Betting under emotional stress might be a bad decision.
3] Sports betting terminology explained
There are different terminologies associated with betting, moneyline is one of them. This is represented by a number which is preceded by a plus or minus sign. Every team playing a match has a moneyline attached to it. This indicates what amount you need to bet to win $100 or what amount you will get if you bet $100.
This is generally used in American odds. Thus, if team A’s moneyline is +150 and Team B’s moneyline is -160; you can win $150 by betting $100 on Team A and you need to bet $160 on Team B to win $100. In a nutshell, the team with the “-” sign is the favoured team while the team with the “+” are the underdogs.
Point spread betting is an option popular in games with huge difference in final scores. Thus, you bet not only on the outcome of the game, but also on the difference by which the game will be settled.
Thus, if point spread for Team A is +4 and that for Team B is -4, then your bet would be for Team A winning and if the win would be by more than 4 points. Like moneyline, here too, the team with “-” sign are the favourites and those with “+” sign are the underdogs.
Parlay bet is another type of betting which involves making more than one type of bet on a single game. Combining a moneyline bet and a point spread bet on the same game constitutes a parlay bet. though the pay-out is larger in a parlay bet, you need to be extremely precise while making the bet.
4] Betting strategy made easy
If you are looking forward to enjoying your stint in sports betting and making huge profits, ensure that you keep these in mind.
- Look for the best moneylines. Different sportsbooks will offer different moneylines for the same game; choose one which has the least risk for winning the same amount. Make sure to check the Moneyline an hour before the game.
- Keep your emotions in check while making the bet. Always keep the odds in mind while making a bet, especially on the underdog.
- Opt for a matched bet which takes advantage of bonuses and incentives offered by the books to place bets for and against the same event.
If you are a sports betting fan or an online gambler, then you will learn and get the best suggestions for you. The online bookmakers listed on Silentbet website are some of the renown bookmakers that offer best quality services.
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