Where To Make Bets On Sports
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If you want to know how to make money sports betting, you’re probably already a sports fan.
I have bad news for you – most sports fans lose money sports betting.
That’s because they have biases and prejudices toward and against teams that wouldn’t exist if they weren’t fans.
In other words, it’s hard to make money sports betting unless you’re objective about the teams’ odds.
But if you’re a fan who can set aside these notions, you can probably win money sports betting.
This post introduces some ideas you need familiarize yourself with to pull off this feat:
You Must Understand Some Math to Make Money Sports Betting
To break even as a sports bettor, you need to win 52.4% of your bets.
Some people might be confused by that, thinking that if they win 50% of their bets, they should break even.
And anything above a 50% win ratio should result in profits, right?
Wrong.
While it’s true that most bets have a 50% probability of winning based on the point spread, the bookmakers make you wager $110 to win $100. (You’ll sometimes run into books which want you to risk $120 to win $100, and you’ll also find some that want you to risk $105 to win $100.)
If you’re losing half the time, but you’re losing more money than you’re winning the other half of the time, you’re going to lose money in the long run.
Imagine if you place 2 bets, winning one and losing the other.
You win $100 on the bet you won, but you lose $110 on the bet you lose, which leads to a net loss of $10.
And that’s just the beginning of the math you need to understand to make money sports betting.
More about Sports Betting Math
Let’s look at a more detailed example, just to give you a clearer idea of what I’m talking about when I say you need to understand the math behind sports betting.
You go to your favorite bookmaker’s website, or visit the book at your favorite online casino, and you see the following posted:
Buffalo Bills -3
New Orleans Saints +3
The team with the – sign next to it is the favorite. To determine the winner of that bet, you subtract 3 from their score before comparing it with the other team’s score.
The team with the + sign next to it is the dog. You get to add 3 to the team’s final score for determining which team wins.
In either case, when it’s not listed, you’re expected to wager $110 to win $100.
Those point spreads are also called the lines.
The book creates the line so that they don’t get an overwhelming loss when the favorite beats the dog. If there weren’t a line, everyone would bet the favorite and win most of the time.
The point spread creates a situation where you (theoretically) have a 50% probability of winning.
The lines are set by the handicappers working for the bookmaker. And for the most part, they’re good at their job.
The lines aren’t always right, though, and when they’re wrong, you can profit.
Where To Make Sports Bets Online
How to Use Moving Lines to Track Sharp Action
A “sharp” is an educated, winning sports bettor. Sharps generally bet large enough amounts of money that bookmakers will adjust the point spreads (“lines”) to stimulate action on the other side. If you watch how the lines move, you can track the sharp action and make betting decisions based on what the sharps are doing.
One thing to look for is called “reverse line movement.” That’s just a fancy way of describing when the line moves away from the side with more money bet on it – the popular side.
Where Can I Bet On Sports
That’s easy enough to do – find a line that moves from +7 to +6, for example, then look at how many people are betting that side of the match.
Now you know which side the book is trying to stimulate action for.
Combine this with shopping lines from one bookmaker to another, and you have a powerful tool for placing bets with a positive expectation.
Be a Contrarian
You can find plenty of websites that estimate what percentage of the action is on one side or the other of a sporting event. For example, you might find a football game where 70% of the public is betting on one side, and 30% of the public is betting on the other side.
If you bet with the 30% rather than with the 70%, you’re being a contrarian – you’re betting the other side of the event from what most people are.
I like to root on underdogs, but as it turns out, betting on an underdog to cover results in a higher percentage of bets won than betting on the favorite.
It won’t result in a high enough percentage to make you profitable in the long run, though – you’ll still need to pick and choose.
But betting underdogs is a great starting point for a winning sports betting strategy.
Manage Your Bankroll Appropriately
You might have heard the expression “on any given Sunday.” This refers to the possibility of an upset in pro football – on any given Sunday, any team can win, regardless of what people might think.
This means that no matter how confident you are in your bets you still might lose.
And, in the short run, you might lose a higher percentage of bets than you expect.
What does this mean in terms of managing your bankroll?
It means that you shouldn’t have too much of your bankroll in action on any given bet.
For example, suppose you’ve found a bet that you’re confident has a 65% probability of being a winning bet. That’s a stellar percentage; if you won 65% of your bets in the long run, you’d be breathing rarefied air. You’d be the Warren Buffett of sports betting, in fact.
But if you have a bankroll of $10,000 and wager all of it on that one match, you have a 35% probability of losing your entire bankroll.
This means starting over and building a new bankroll, which takes time.
And when it comes to winning at sports betting, time is money.
You’ll see varying estimates of how much of your bankroll you should risk on any single bet.
Your tolerance for risk should determine your bet sizing, but 1% to 5% of your bankroll is a good guideline to follow.
If your tolerance for risk is high, bet up to 5% of your bankroll on each bet. With that $10,000 bankroll, you’d limit the size of your bets to $500.
You can adjust those bet sizes based on your confidence level in your picks.
If you’re sure about a bet, you might wager $200 or $300 (2% or 3%) on it even if you’re risk averse.
Limiting the size of your bets prevents a series of upsets or a run of bad luck from running you out of the hobby.
Don’t Buy Picks
Here’s the problem with buying sports picks:
The people selling these picks are usually no better at picking winners than you are.
Companies that sell sports betting picks are called tout services. They have an interesting history.
I have a friend who worked for a tout service in Las Vegas back when they still used call centers and 900 numbers to sell their picks. He explained to me one of their strategies with their customers, which I’ll share with you below:
In a room full of touts over the phone, half the room would sell picks on one side of a game.
The other half would sell picks on the other side of the game.
This would result in half their customers winning each week, while half their customers would lose.
If any of the losers called to complain – and they often did – they’d give them a free pick on the Monday night football game.
And they’d follow the same strategy – give half the losers one side while giving the other half the other side.
Half their losers won their money back and became satisfied customers, buying more picks.
I also read a story in a book about gambling about a gentleman who started his own tout service via a 900 number, and he let his 5-year-old son make all his betting picks for him.
The kid got lucky and was right 60% of the time in his first season.
It was dumb luck, but if you’d used his service, you’d have showed a profit that season.
I saw a tout selling an entire season’s worth of picks for $3000.
What kind of winning percentage would you need to see to generate a positive ROI on that $3000?
That’s a sunk cost, so you’d need to win more than $3000 for that package to be a profitable deal.
You already need to win 52.4% of the time to break even, and you need to win 52.5% or more to be profitable.
If you make less than $3000 profit, you’re still losing money.
It’s hard to make money betting on sports when you have an upfront investment of $3000.
Conclusion
Yes, you can make money betting on sports. People do it every day.
But it takes a smart approach, preferably a contrarian one. You need to thoroughly understand the math and manage your bankroll appropriately.
Most importantly, you should avoid buying sports picks from experts who might not really even be experts.
Sports betting is one of the most favorite activities among people. That especially counts when we talk about sports lovers. Supporting your favorite club is already entertaining. However, sports betting will make things more interesting for people. Despite that, it will also allow them to get some additional earnings and potentially ensure financial stability.
In theory, everything around sports betting seems amazing. Unfortunately, not all people will manage to reach their goals. We all need to go through a couple of stages to consistently make money on sports betting. Knowledge improvement plays a key role in the path to success. Because of that, we would like to share a couple of ways how you can ensure regular sports betting earnings.
Let’s get started!
1. Forget about luck, rather improve your betting skills!
Whoever starts to bet usually has beginner’s luck and starts to win a lot. However, as time passes, you need to focus more on your knowledge and betting skills. Even though gambling and betting are very fun and exciting activities that provide an opportunity to earn big amounts of money, you need to know how to approach them. For instance, you need to take into consideration which matches are quality and which ones you should avoid.
As we said, the question is whether luck will follow you always or not. You need it, but you can’t count it will always follow you. For that reason, you need to work hard on improving betting skills. We will suggest you collaborate with tipsters. They are true experts in the betting field, so they can help you expand your knowledge. Other than that, they can teach you some betting tricks and help you establish some new strategies. You can consider finding a betting mentor or simply start analyzing the games alone.
2. The focus will bring you profit
One of the crucial things that many betters forget about is to be focused on one sport or even better one league. In other words, even though there are numerous sport listed you can bet on, you need to choose smartly what can be profitable. The key is not to bet on all of them and see which one will be effective. If you want to make money, you need to analyze and choose one specific competition. You can always consult with experts and see what their suggestions will be in case you do not know what you should bet on.
3. You need to consider betting odds
You need to put aside your emotions when it comes to betting. Also, as much as you are a fan of some team and players, you should not let that lead you in the wrong way. The main role in this field play odds. In other words, they will guide you to opportunities that you should consider when betting. You need to invest money only if you are sure you will get good value.
When you are looking for a site where you can bet, you need to be aware of the fact that all of them provide different odds. For that reason, you need to research and find the best offerings instead of investing your money immediately when you see the betting site. Let’s be honest, it is hard enough to win, so you should not miss a chance to earn as much money you can.
4. Think about your discipline and control of your stakes
Maybe you are surprised, but if you stay committed and disciplined, you have a chance to achieve your goal when it comes to sports betting. For instance, if you start losing bets in a row, you should not chase the lost money and invest it in some silly and reckless bets. Also, if you start to win, you should not let emotions take you away so you start putting enormous stakes.
We suggest you start tracking all of your best activities and then analyze them. If you do this, you will have a clear picture of what things you should change and how to make those changes properly. On the other hand, it will show you which strategies you used were profitable and try them out once again. One more good idea is to set a bankroll. Many betters do this because it keeps your stakes in control. More precisely, you should take your stakes approximately between 1-3% of your bankroll. In that way, you will not put big amounts of money as your regular stakes.
6. Take advantages of the free offer
Many betting sites provide all kinds of different free offers, bonuses, and other bet promotions. It would be worth it to look at them and take advantage of them. Those promotions come in different forms. For instance, if you are a new member on a betting site, you can get welcome bonuses. Despite that, if you are regular better on the site, you can also get some promotions, free bets, and deposit bonuses. This could be very beneficial, so you should keep an eye on the sector where promotions could appear daily.
7. Researching is very important for success
Before you invest money, you need to follow some steps. In other words, you need to be dedicated to researching! The main question is what you should cover before you put the stake? Let’s see.
The first thing you need to do is find a reliable and reputable online site, and avoid fall into the scam. If you are interested to find an online site that you can trust and that has credibility, you can visit onlinesportsbetting.net. Every betting website that is verified will have the necessary information in one of the sections where you can see their lists of the rules, payment methods, and terms and conditions. In that way, you see whether you want to register and be a part of their community.
After that, you need to pay attention to the list of the available teams and matches you can bet on. Also, you need to analyze their history and successes and try to predict certain things in that way. We suggest you rely on your own knowledge and improving your skills and strategies. This mostly counts for the bettors who say they are not interested in maths. Mathematics is essential for sports betting, and it can give you some answers. If you do not want to invest in yourself, you should not expect to make a profit out of this activity. You need to make plans, analyze the odds, so you can have success in the long run.