How to Make Money Betting on Sports

Betting at sporting events is a popular pastime for many people, and the majority of them regard it as a fun and social activity. Understanding betting strategy and the numerous types of bets you may make, understanding the odds, making sensible bets, and walking away from bad bets are some of the tricks to regularly making money on sports betting.

Part 1: 

The First Steps

Make a separate bank account for yourself. To truly profit from Sports betting, you must be dedicated, therefore having a separate account dedicated solely to placing bets is a good idea.

Make sure you deposit enough money to cover your bankroll for an entire season or year, not just a single game when you set up this account.

Multiply your base bet by at least 100 to ensure you have adequate money; this is the minimum amount you should have in this account at all times.

If you're new to sports betting and don't know what your base bet should be, throw in whatever money you have set aside for this venture and base your bet on the amount of your bankroll (each bet should be smaller than your bankroll).

 

Make accounts with a few different sportsbooks. You must have an account with at least one sportsbook to place bets, though it is preferable to have at least three so you can compare options and place better bets. Signup bonuses are available at some sportsbooks, so look around. The majority of sportsbooks are now available online, and some of the most prominent sites include: Bovada Betonline

 

Learn how to place wise wagers. There are a few guidelines to follow here, some of which are about the statistics and others which are about which teams you should and shouldn't bet on.

For example, while each bet should account for one to two percent of your bankroll, you can cut this to 0.5 percent if you're not sure about a particular wager. Similarly, if you're feeling confident, you can increase your stake, but never bet more than 4% of your bankroll.

Some experts also advise against placing a bet if you aren't sure, stating that it is preferable to walk away and locate a better bet that you are confident in.

Many experts advise against betting on your team.

 

Create a betting schedule. Don't just bet on every game; every week, look over the upcoming games and decide which ones you want to bet on based on your confidence in the potential wager.

Don't be afraid to back out of a wager right before the game starts. Odds, lines and point spread all change over time, so if you're not sure about a bet, don't make it or make it smaller.

 

Don't waste your time chasing bad bets. This is the practice of attempting to recuperate losses from a previous bet by placing more bets. It's risky to do so since many people will put their good judgment aside and place additional foolish bets in an attempt to recoup their losses, resulting in even more losses.

The contrary is also true: don't chase a winning bet with more bets in the hopes of winning more or double your money. Make a betting regimen or timetable and stick to it.

 

I'm guessing you're sober. This refers to wagering with a focused and clear mind. Many people will read this and assume it is self-evident, yet you'd be amazed how many people break this rule. Emotions can get the best of us, and we can make poor decisions as a result of them.

"Going on Tilt" was coined when sports bettors let their emotions get the best of them, resulting in a loss of bankroll.

 

Part 2:  

Betting on Sports: An Overview  

Recognize money lines. The money line is a plus or minus figure connected with each side in a given match, and it indicates either how much you must bet to earn $100 or how much you will win if you bet $100.

For example, a money line of Toronto Maple Leafs -200 and Vancouver Canucks +155 means that you must wager $200 on the Leafs to win $100, or $100 on the Canucks to win $155.

The club with the negative number (the Leafs) is the favorite, while the team with the positive number (the Canucks) is the underdog.

Because the scores are lower and the odds are better in hockey and baseball, many gamblers bet on the money line.

 

Find out more about point spreads. In games with a bigger margin between the final scores, point spread betting is more common. In a point spread bet, you're not just betting on whether a team will win, but also on how much they'll win by.

For example, if the point spread is Detroit Lions +4, New England Patriots -4, you'd wager on whether you think the Lions will win and by how many points.

The team with the minus symbol is the favorite, while the club with the plus symbol is the underdog.

 

Comprehend parlays. Making numerous sorts of bets on the same game is known as parlay betting. A parlay bet, for example, is when you mix a money line with a point spread bet on the same game.

Large payouts are common with these bets, but they necessitate a high level of precision.

 

Part 3:  

Look for the most fashionable lines. This is where having many accounts with different sportsbooks comes in helpful because some will offer better money lines on the same games, allowing you to risk less for the same chance to win more.

Line shopping is best done around an hour before a game.

Consider creating accounts with at least three books to receive the greatest deal.

 

Make wagers depending on the probabilities. Making wise bets based on odds rather than emotions is the goal of betting with your mind rather than your heart. When the chances are in your favor, it's sometimes a better idea to bet on the numbers rather than who you think will win, because this can offer a better value.

For example, if you're betting on a baseball game and believe the Yankees will win, you might be better off betting on the Blue Jays if the odds are favorable.

 

Don't be scared to take a chance on an underdog. This does not imply betting on a long shot, but rather on the underdog when the odds are favorable. Because the favorite squad is often chosen solely on popularity rather than competence, the favorite does not always win.

 

Use matched betting to your advantage. Matched betting entails taking advantage of bookmaker bonuses and incentives to place bets on the same event both for and against the same outcome.

In a basketball game between the Raptors and the Knicks, for example, you would place a wager on the Raptors and then match that bet against the Raptors.

Matched betting is all about using free bets and betting on both probable outcomes on the same game, so it's almost as risk-free as gambling gets.