How To Be The Best At Sports Betting
The reason why is because sports betting is a streaky activity, and even the best go through lengthy losing streaks. Professional bettors only put 1 to 2% of their bankroll into each contest, which lowers their risk of ruin dramatically. Open a specific bank account. To really make money on sports betting, you have to be dedicated, so it’s a good idea to have a special account that’s only for placing bets. When you open this account, be sure you invest enough money to cover your bankroll for an entire season or year, not just a single game. There are two main ways to bet on a favorite or an underdog. The first is the point spread, which is a bet on the margin of victory. A favorite “gives” points, while an underdog “gets” points. For example, say the Patriots are 7-point favorites (-7) against the Jets.
When it comes to wagering on sports, the future has arrived. New laws and attitudes about gambling have made the hobby more accessible and accepted than ever before. Gone are the days of dealing with shady figures and defensiveness from professional sports leagues when the topic is brought up.
- An excellent choice of sports and betting markets is a must if you’re looking to exploit as many betting opportunities as possible. You also want a betting site that offers a good range of odds, as well as standout prices on the type of selections you’ll want to bet on.
- Top 3 Sports Bars In Hoboken For Sports Betting. While sports bars that aren’t at a racetrack or casino can’t offer sports betting, New Yorkers can travel to New Jersey and bet from any bar in the state. All you have to do is register at a New Jersey sportsbook like DraftKings, and you’re good to go once you’re in the state.
The rise of fantasy football and US sports betting apps have brought even the most fringe sports fans into the world of sports gambling. Some of the biggest sport shows on TV discuss lines, spreads, and odds in great detail.
But if you’re completely new to sports betting, you’ll be surprised at some facts you may not know about betting and how it works.
Although whether you’re a casual sports fan who’s just looking to make a few extra bucks during the weekend, or a hardcore, analytical individual who thinks the right system could be extremely profitable, these sports betting tips are what you need to know to get started.
1 – Create a Betting Bankroll
Your bankroll is crucial because it’s the key to keeping track of the money coming in and going out. Your bankroll should keep you in check and help you avoid spiraling out of control, or making bets that can really hurt your bottom line long-term.
Creating a bankroll isn’t difficult. Set aside an amount of money you can afford to lose (this is important) and don’t add more to it without serious consideration. Next, determine a percentage, or a percentage range, of that overall amount that you’ll bet on each game.
The key to being a profitable sports bettor is to keep track of the numbers and manage your bankroll. Without an adequate tracking strategy, you put yourself at risk of suffering big losses. If you’re just starting out, develop this habit from the jump and you’ll be better off for it.
2 – Learn the Different Types of Sports Bets
When you really get down to it, there are nearly endless types of bets you can place on sports. There are even secret US sports bets that many bettors don’t know about unless they’ve done their research. However, when you’re just starting out, it’s best to focus on the more popular bets and get a good handle on how it all works.
I’ll lay out the three most common that can be utilized effectively on just about any team sporting event.
Moneyline Bets
The moneyline is what you bet on when you’re choosing a team to win the game outright. You’ll see it listed beside the team as a (+) or (-) number. For example, in a game between the Colts and Packers, you might see “Colts +200” and “Packers -160.” This means that if you bet $100 on the Colts (the underdog) and win, you’d come away with $200.
On the other side, it would take a $160 bet on the Packers (the favorite) to win $100. Note that you don’t need to bet $100, but that’s the scale. For example, you could bet $10 to win $20 or $16 to win $10.
How To Be The Best At Sports Betting Game
Spread Bets
Betting on the spread is a favorite of gamblers because it makes every game interesting. An example of a spread might be Eagles vs. Cowboys, with Eagles at -3.5 which would make them the favorite. On the other side, the Cowboys would be the underdog at +3.5.
If you bet on the Eagles, they must win by more than 3.5 in order for you to win your bet. If you bet on the Cowboys, you’d need them to lose by less than 3.5 and you’d come out on top.
When there’s no half-point involved, it’s possible to tie in what’s known as a “push.” For example, if the Eagles are -4 and end up winning by 4 exactly, nobody wins and you get your money back.
Over/Under Bets
Don’t really know who has the advantage in a game but have a feeling it’s going to be a high-scoring affair? Throw down your bet on the over! The over/under is probably the most simple bet in the game. The book will provide a number, and you decide if you think the combined final score will be over or under that number.
You might notice that in most of your bets it isn’t a perfect 1:1 risk to reward ratio. Typically, sportsbooks will make each “evenly-matched” bet, such as the spread or the over/under, a -110 proposition. That extra 10 is known as the “juice.” Essentially, it’s how the books make money if there’s 50% of the money on either side. There’s all kinds of betting math to understand, but you’ll pick up on it as you become more familiar.
3 – Find a Good SportsBook (But Don’t Get Too Loyal)
One of the best things about the increasingly relaxed laws regarding sports gambling is that several online sportsbooks are competing for your business. If you shop around for some deals that online books offer, you can find some that are worth exploring.
For example, several online books offer a matching bonus such as a free $100 when you load up $150 onto your account. It’s easy to think these offers are scams, but they’re genuine attempts to win your loyalty.
This is where another important tip comes in. Don’t become overly loyal to one particular sportsbook. On any given bet you’re looking to make, there’s a good chance you can find an offer on another site that gives you slightly better odds or a higher payout for your money.
How To Get Better At Sports Betting
This applies to regular sportsbooks, too. Say you’re visiting the Las Vegas’ Westgate sportsbook, you may be drawn in because it’s the largest sportsbook in the world. This shouldn’t stop you from shopping around the books over at Caesar’s Palace Casino.
They’re both great sportsbook options and could be offering bettors different moneylines.
So while it’s easier to just stick with one site where you feel comfortable, if you’re looking to make money and not just bet for entertainment, choosing the right book or books is very important.
4 – Don’t Chase Your Sports Betting Losses
This goes hand-in-hand with effective bankroll management. When you inevitably lose one or more bets, you want to make up your money as quickly as possible. In fact, you might even try to make up from two $20 losses by betting $40 on the next game. Don’t do this.
You’re going to have stretches where it feels like you’re losing the majority of your games. On the flip side, you will have stretches where you get hot and win a few in a row. The key to sports betting is to never get so deep in a hole that you put yourself in serious financial jeopardy.
It’s hard to do, but focus on making up losses by going slow and steady, not by taking a major risk. Effective sports betting is a long-term game and avoiding big losses is the best way to stick around until you’re safely in the green.
5 – Don’t Bet Blind
If you think sports betting is simply a game of chance, you’re not looking at it correctly. Having some degree of knowledge of a particular sport is hugely advantageous.
Just make sure that you’ve done some type of research before placing a bet. Remember, you don’t have to bet every game and sometimes, the best option is sitting it out.
Conclusion
Sports betting, for most, is a fun hobby that can put a few extra dollars in your pocket while increasing your enjoyment of watching the games. Before you dive headfirst into the action, take some time and get familiar with the options available to you.
As you get comfortable, you can experiment with all the other betting options like parlays and teasers, but as a beginner, it’s good to stick to the basics. As with any good vice, everything in moderation. Good luck!
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Sports betting success is all about access to the right information at the right time. With online betting sites increasingly offering bettors the option to wager from their mobile phones, it’s only natural that a wide range of complementary sports betting apps have cropped up on the Apple Store and Google Play.
Don’t waste your time on Instagram scamdicappers and other questionable digital betting services. Sports Betting Dime has identified the most useful sports betting apps for everything from bankroll management to line shopping.
Here are the five most interesting and innovative choices for 2020.
1. SharpSide: Best App for Betting Tips & Community Picks
SharpSide is a relatively new app that provides a huge amount of community-driven info and analysis for bettors.
The beauty is in SharpSide’s model for sourcing betting tips and advice – each member’s betting records are public and there’s no way to delete losses or otherwise manipulate the results.
How To Be The Best At Sports Betting Parlay
This stands in sharp contrast to some other paid pick services, many of which are notorious for a lack of transparency and selling shoddy info.
SharpSide asks every user to make picks on a huge range of game lines, game props, and player props at their leisure. The app tracks picks and displays results publicly on detailed boards – allowing you to see what other bettors are thinking with an incredible level of detail.
Because everyone’s record is shared publicly, it’s easy to closely follow the bettors with a proven track record handicapping the sports and bet types you’re most interested in.
2. BettingPros: Best App for Sports Betting Line Shopping
Line shopping is the single easiest way to increase your profits when betting on sports. By comparing the odds offered at multiple sportsbooks, you can ensure you’re getting the best possible value for every line to your liking.
The BettingPros sports betting app not only displays valuable data like betting percentages and team trends – it displays the odds for each matchup at a range of online sportsbooks and highlights the most favorable option for every line available on a given matchup.
Thanks to this conveniently intuitive layout, you’ll identify the best value on any pick within seconds of opening the page.
Save yourself the hassle of navigating between various online sportsbooks to compare the odds on your mobile screen – once glance at BettingPros can condense tons of frustrating back and forth into mere seconds.
3. Parlay It!: Best Parlay Calculator & Accumulator
Betting parlays and teasers is a great way to amplify your sports betting profits, but it can be a challenge to accurately calculate potential payouts.
Parlay It! is a simple, stripped-down sports betting app that allows you to estimate payouts for parlays with up to 12 legs/picks included. Odds can be entered in decimal, American, or fractional format and you’ll instantly see the potential profit, return, and percentage return on investment.
How To Be The Best At Sports Betting Games
Parlay It! also features a ‘dutching calculator’ to help you hedge your bets across multiple sportsbooks.
For a small one-time fee of $1.99, you’ll also gain access to an overround calculator that allows you to see how much the bookmaker is profiting off your selections.
This is an invaluable tool in determining which betting markets are offering the best value when playing multiple lines.
4. Kelly Calculator – Best App for Sports Betting Bankroll Management
There are various systems bettors can use to determine how much should be wagered on a given event.
The Kelly Criterion is one of the best-known and effective methods for identifying value and shoring up your bankroll, and the Kelly Calculator takes cares of the math you need to follow this system.
Simply input the total value of your bankroll, your assumed probability of success, and the odds to see the size of your edge over the sportsbook and the suggested amount you should wager.
If you’re looking for a sports betting app to practice disciplined bankroll management and stick to a system, it’s hard to beat the simplicity and clarity of the Kelly Calculator.
5. Onside Sports – Best App for Tracking Your Sports Bets
Onside Sports provides a range of services for sports bettors, but the app shines brightest with their bet tracking tool.
A personalized dashboard contains key metrics of your overall betting performance in great detail, tracking classic indicators like return on investment and win-loss records along with stats such as an adjusted win percentage and associated z-score that provides more relevant feedback on the value of your betting strategy.
The ‘pools’ function also allows you to track bets against your friends and family, while public leaderboards allow you to follow the picks of the best ‘cappers in each sport as you fight for their spot at the top.
Want to Learn More About Betting From Your Mobile Phone?
Online sportsbooks and sports betting media are going to great lengths to deliver an engaging and easily navigable mobile experience. Find the features you need without the fluff – Sports Betting Dime’s odds app is a one-stop-shop for the latest odds, standings, and betting trends.
How To Be The Best At Sports Betting For Beginners
Check out our guide to sports betting on mobile for a comprehensive overview of how to get more out of betting on the go. The guide is full of site-specific tips for our favorite mobile betting sites.
Pair the apps outlined here with a mobile-optimized online sportsbook, and you’ll have everything you need for a profitable betting experience right in the palm of your hand!