Sports betting has emerged from the shadows into mainstream culture, with millions of fans now taking part in this massive multibillion-dollar industry. But if you’re new to the world of sports betting, it can be intimidating. Here are 12 tips and tricks to help you win more money when betting on sports.
Understand the numbers.
You have to love math when it comes to sports betting. There are so many variables at play, and understanding them is key to making smart wagers. For example, the number of games played and the overall record of a team are crucial factors to keep in mind. Also, don’t forget about the power of the home field advantage, which can significantly skew the outcome of a game.
Bet on the underdogs.
Unlike the popular belief that you should always bet on the favorite, it’s actually better to bet on the underdogs. Sportsbooks set their odds based on the likelihood that certain outcomes will occur, and the underdogs offer much more value for your dollar than a bet on a team with a big price tag.
Avoid bad numbers.
One of the biggest mistakes that beginner sports bettors make is betting on bad numbers. This can be as simple as a sportsbook giving a team a lower point spread than another. This is why it’s so important to shop around for the best line on a particular bet. For instance, if you like the Buffalo Bills to beat the New England Patriots as underdogs, but your sportsbook has them listed at -7 while other sites have them at -6, resist the temptation to bet on that team and find a place that has a more attractive line.
Know that you will lose bets.
It’s no secret that you will lose bets when betting on sports, and the best way to limit those losses is by setting a budget before you begin. This will prevent you from chasing your losses after a cold streak and will help you stick to your strategy in the long run.
It’s also wise to only bet with money that you can afford to lose. A common recommendation is to allocate between 1 and 5 percent of your bankroll on each bet, depending on your level of confidence in the bet. This will keep you from depleting your entire bankroll after a few bad losses. It’s also helpful to keep in mind that no matter how much research you do or how confident you are about your bet, there will still be the occasional freak result that will cost you a few bucks. However, if you follow these tips, you can reduce the frequency of those losses and improve your overall betting experience. Good luck! – Mike Spector is a featured writer at BettingPros. He covers a wide variety of sporting events, from NFL and MLB to golf and tennis. Follow him on Twitter @MikeSpector01.