The stigma of sports gambling is beginning to wither away as more and more states in America have legalized sports betting, with the industry heading towards becoming a multibillion-dollar area of recreational interest;
But as the popularity and intrigue associated with gambling on sports increases, there is still a learning curve that needs to be addressed to understand what is going on when you get involved.
Now you can make your best bets by taking in these tips that you need to be aware of in the wild and rapidly-moving world of sports betting.
If your favorite team is frustrating because you would really like to bet on them this season, but their losing streaks rightfully make them a leary choice for you to place wagers on, there is a solution; use point spreads.
By using point spreads with the underdog squad that you are cheering for, you can bet on the point margin it would take for them to potentially win that is available to you when you place your wager.
Overs and Unders (Totals)
Oddsmakers set a total number of points scored in a game by both teams combined, which is called the over/under, allowing bettors to wager bets on whether or not the game will go Over or Under the total.
Favorites and Underdogs
When a betting line on a game is released by oddsmakers, they decide which team should be the favored team and which is considered to be the underdog.
The favorite team is predicted to win the game and gets a minus sign next to its odds.
The underdog team is the one that is expected to lose and receives a plus sign beside where its odds are listed.
There is another way to place a bet on the favorite or an underdog, and that is with the moneyline, which is based solely on which team will win the game.
Teams that are the favorites are given a “minus” designation, such as -200. So if a favorite is -200, what that means is that you have to risk $200 to win $100.
If the favorite team wins, you will receive $100, but if the favorite loses, then you lose $200.
Because favorites are expected to win, you assume more of the risk when you place a wager on them.
The underdog teams are given a “plus” designation, such as +200. If an underdog is +200, this means that if you place a bet of $100 on them and they win the game, you win $200.
If the team you bet on loses, you lose only the $100 that you risked.
Being that underdogs are the squad that is expected to lose, there is more of a reward when you place a bet on them.
Moneylines are available for all sports but are typically used when betting on lower-scoring sports like soccer, hockey, and baseball.
Rotation numbers are listed to the left of a team on the board when you are betting, and they are also referred to as the NSS number or Vegas ID number, which are specific to the team, sport, and league and universal across most sportsbooks.
Lines Move in Real-Time
Like stocks on that stock market, stocks on Wall Street, sports bookmakers will adjust the odds based on the action they’re taking and other information that they become privy to the injuries of certain players that a team probably can’t perform very well without.
Know Your Strengths and Weaknesses
This is the actual money that you are gambling with, not a video game that is strictly for fun.
Make sure you’re tracking your progress and your losses. This is important to do because you can identify where your strengths and weaknesses are as you bet.
Are you having more success betting on the MLB or NBA?
Do you thrive when taking over/under bets?
How Much Money to Bet
When it is all said and done, you are the one that has the final say on how much money you want to risk on any given game.
As a solid rule of thumb, only risk whatever amount you can afford to lose.
To be safe, try betting the same amount on every game and only risking 1% to 5% of your bankroll per play (the starting amount you have to bet with).
If you are starting off with a bankroll of $100, you should bet no more than $5 per game.
By using a flat-betting strategy, you can guard against losing your entire bankroll during a bad stretch of games that aren’t ending in your favor. You can also set yourself up for a positive return on investment (ROI) when you have a nice string of steady wins.