Half of all Americans bet on the NFL’s Big Game. Americans love sports betting so much that during a pandemic we still bet $4.3 billion.
Why do we love sports gambling so much? It makes the games more fun. It’s a great way to make a quick wad of cash.
Become a winning gambler this year with these nine sports betting tips.
- Learn the Basics
You wouldn’t buy into the stock market without knowing the rules. Why would you start sports gambling without fundamental knowledge of the game? Blind gambling is a great way to lose a lot of money.
How to place a sports bet?
All tips for sports betting start with the basics. Sports gambling has its own jargon you need to know before you walk into a sportsbook and place a bet.
You need to know the different bets you can make and when to make them. You have to learn how to bet on sports before you start winning.
- Narrow Your Focus
Professional sports gamblers live for sports. They spend their days watching games. They read reams of sports betting analysis.
They scour social media and local newspapers for any information that’ll give them an edge. It’s a lot of work.
You might love sports. Do you have enough time to watch them like it’s your full-time job? Probably not.
The best way to win sports bets is to narrow your focus. Follow and bet on one sports league. Doing this allows you to build your knowledge and train your handicapping eye.
That might even be too cumbersome. Narrow your focus even further if you can’t keep up. Choose a few teams or one division to follow.
This makes it easier for you to follow the news and notes you need to make winning bets.
- Don’t Bet on Reputation
Statistics tell most of the story when it comes to sports betting. They don’t tell the whole story. Let’s look at a real-life example.
Experts say the worst team in the NHL this season is the Ottawa Senators. Their record before the most recent two-game series vs. the Montreal Canadiens was 4-14-1.
Their defense ranked last in the league, allowing an average of 4.0 goals per game. Offensively, they’re an anemic 28th, scoring an average of 2.4 goals per game.
As it turned out, Ottawa beat the Canadiens in both games. Statistics say Montreal should’ve won both games easily. What happened?
What the casual gambler didn’t see is that the Canadiens were fading. Though they have a winning record, their power play went 1-18 during the last week. Their offensive weapons cooled off.
The Canadiens were ripe for an upset or two. If you bet based on Ottawa’s reputation, you lost both games.
- Find Value
What is sports betting? Most inexperienced gamblers think it’s as simple as picking winners. You do need to know how to pick winners.
That’s not how you make money. You need to find the situations where you win the most money by picking a winner. Let’s take the Canadiens vs. Senators game as an example.
You think the Canadiens are a lock to win the game. So does the sportsbook. They’re listed on the moneyline at -220.
If you bet $100 on the Canadiens at this number, you’ll win $45.45. That’s not a great way to make money long-term.
The underdog Senators are +180. If you take the Senators for $100 and the win, you win $180. While upsets like this are rare, you find value bets by finding these upset situations.
You will lose bets. You will lose a lot of bets, and that’s ok. The best sports gamblers win only 55% of their bets.
That means the best still lose 45%. Don’t get caught up in the money you lose on any given day. Before you place your bets, determine how much money you’re able to spend.
Inexperienced gamblers find themselves chasing losing bets. They’ll lose some bets and then place bigger bets trying to break even on the day. It’s a guaranteed losing formula.
- Use Different Sportsbooks
This is akin to finding value. Betting lines aren’t the same across the board. A slight difference in the spread might make a big difference in a close game.
Here are some of the Best Betting Esports Sites if you’re a gamer interested in betting E-Sports.
Let’s use an NFL example for this. Pittsburgh plays Cincinnati in the Sunday night game. Through your research and analysis, you think the Steelers will win by seven points.
The books think so, too. Two out of the three books you use have the Steelers listed as -7 favorites. The third has the Steelers at -6.5.
You take that number. Why? If you think the Steelers win by seven, the best you can hope for at -7 is a push.
The -6.5 means you win your bet.
- Deal With Your Bias
Are you a die-hard fan of a particular team? You pull for them through thick and thin. You bleed their colors.
You’re biased. That’s great if you’re a fan. It’s a great way to lose money if you’re a sports gambler.
Don’t gamble on your favorite team. Your years of dedicated fandom clouds your judgment.
- Understand Line Movement
Sportsbooks aren’t in the prediction business. They’re in the money business.
Let’s use Pittsburgh vs. Cincinnatti again. The book sets the line at -7 Pittsburgh not because they think Pittsburgh will win by that much. They think that number will encourage play on both sides.
They take bets during the week. As they take bets, they look to keep the bets balanced. If Pittsburgh drops to -6.5, that means the majority of the money came in on the Cincinnatti side.
Understanding how this works helps you find the best numbers. Most gamblers agree the best lines are found as soon as they’re released.
- Use These Sports Betting Tips and Have Fun
Sports betting is meant to be fun. If you can’t find joy without winning, it’s not a good hobby for you.
There will be heaters and cold streaks. Both are inevitable. Use these sports betting tips and have some fun.
Do you need more gambling advice? Check out the rest of our page for the latest.
Danny White is a freelance writer who offers to ghostwrite, copywriting, and blogging services. He works closely with B2C and B2B businesses providing digital marketing content that gains social media attention and increases their search engine visibility.