How to Win at Sports Betting
Online sportsbooks have transformed the world of sports betting, as anyone can now sign-in to their sports betting account and place a wager on any sporting event around the world. While it's extremely easy to place a bet nowadays, it's very hard to win your wagers on a consistent basis, but this guide is here to help the beginner bettor learn how to win at sports betting. If you think you can select your favourite team and make an income betting on sports you have a lot of learning to do.
Manage Your Sports Betting Bankroll
The 1st lesson most sports bettors learn is how to manage their bankrolls. Have you ever deposited $500 into an online betting account and start out betting $10-$20 per game, only to lose a couple games and start betting $50-$100 per game? If this has ever happened to your than you know the value of managing your sports betting bankroll. A lot of bettors let their emotions get the best of them and it's important to leave your feelings out of any bets you place.
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Generally it's recommended that sports bettors should only bet 1%-2% of their bankroll on the majority of their wagers and in some cases increase the amount slightly if you're really feeling a certain pick. This is fine if you have a bankroll in the $2000+ range, but if you're only starting out with a $100 you probably don't want to try grinding a small profit by betting $1-$2. You still need to manage your bankroll if it's small, but you're better off betting 5%-10% of your bankroll on each bet if your bankroll is in the low $XXX range.
Make Sure You Always Find the Best Betting Odds
You might not think that there is much of a different between odds on a game at different sportsbooks, but that's not true and you need to make sure you shop the best line. Let's say that you bet enough to win $100 on favourites. If you bet on the Yankees at -110 odds you'd need to bet $110 to win $100. Another sportsbook has the exact same Yankees game at +100 odds, which means you only need to wager $100 to win $100. Saving $10 might not seem like a lot, but if you wager daily you'll probably make a minimum of 500 bets a year, which at $10, would be a savings of $5000.
Watch for Line Movement / Time Your Bet
Online sportsbooks release betting odds the night before a sporting event for most of the major US sports (NHL, NBA, MLB) or in some cases even earlier (NFL, NASCAR, GOLF). The betting odds constantly change after being released based on how much action a sportsbook is receiving on either side of the bet. If the underdog is getting hit hard then the sportsbook will change the odds to reflect the betting market. You want to always try and end up with a better line than the closing line.
For instance, if the Yankees open up at -170 favourites, you may see a lot of early bettors hit the underdog. If this is the case and you want to bet the Yankees it'd be a good time to bet after the underdog bettors move the line down, as the line is most likely going to go back up closer to game time, as the public will most likely start hammering the favoured Yankees. Finishing with a better line than the closing line is very important when you're trying to win at sports betting.