Sports Betting Basics

Start By Asking Yourself Some Personal Questions. Is Sports Betting Right For You? When you look for sports betting information online, you find a bunch of articles about the basics, like how to read lines and where to bet. You also find a few pages about advance betting techniques and systems. But few pages are available that help you advance from the beginning to the point where you can use advanced techniques. Sports betting is considered by many to be the easiest form of gambling to get started with. When betting on sports, your goal is essentially to predict the outcome of a sports event and wager money according to what you think is going to happen. When you’re right, you win money. And when you’re wrong, you lose money.

What is sports betting?

Sports betting revolves around placing a wager on the outcome of an upcoming game or event.

Bettors attempt to forecast the results and make their best guess on what the outcome will be.

Bettors typically wager with a sportsbook. Oddsmakers at the various books will set lines or odds for the available wagers.

Essentially, the odds show the likelihood of a particular event occurring. Also, they point to the potential return for those who bet successfully.

Sportsbooks offer a wide range of markets.

From major sports such as NFL betting and NBA betting to niche offerings such as cricket and rugby, you’ll find plenty of wagering opportunities available.

The same applies when it comes to bettingtypes.

The most standard wager merely involves choosing a winning side. However, there are plenty of other ways to bet and factors to consider.

Sports betting is a popular pastime that is attracting even more attention due to legalization in several US markets.

Why do people bet on sports?

The answer varies from person to person.

Some folks bet for entertainment purposes, while others wager based on the profit potential.

Plenty of bettors have their specific reasons. So, let’s take a look at some of the more common answers to the question:

• Entertainment: Quite simply, betting on sports is fun. While games and events can be entertaining enough, adding a little money into the equation can enhance the enjoyment.
• Profit Potential: If you’re correct on your bets, you’ll win money. Naturally, that applies in reverse, too. However, the chance to earn a profit keeps folks engaged and leaves them coming back for more.
• The Challenge: While the concept of picking winners and losers is simple, continual success is far from a sure thing. Therein lies another part of what keeps folks so engaged. Sports betting is a mental challenge that can prove to be quite stimulating.
• Skin in the Game: What’s the easiest way to make a random game or event that you have no rooting interest in that much more appealing? By having a little skin in the game on the outcome, you can suddenly have a contest to look forward to and enjoy.
• Ease of Getting Started: In states that have fully legalized sports betting, getting started is a breeze. You can sign up with an online or mobile betting operator and be up and running in minutes. It was once a fantasy to have a sportsbook in your pocket. That’s now a reality.

There are plenty of other reasons why folks may choose to bet on sports, but the above list covers the primary ones. It’s a fun pastime that can be quite rewarding. Furthermore, the interest level will only continue to grow as more states legalize it.

Sports betting 101

So you’re new to sports betting and ready to get started. Now what?

Beginning any new endeavor can be overwhelming at first, but many times you’ll see it’s not all that tough once you start digging in. That’s certainly true with sports betting.

As with many other situations, it’s best to start with the basics and build out from there:

• Benefits of Sports Betting: Legalized sports betting has been a boon for each of the states the industry has entered. A practice that was once illegal is now generating additional tax revenue. Furthermore, jobs have been and continue to be created in each new market.
• Is Sports Betting Legal?: In May 2018, the US Supreme Court finally weighed in on a long-running case that questioned the legality of a federal ban on sports betting. The justices ruled that it was a matter for states to decide for themselves. Many of them have done just that and now have thriving sports betting industries.
• How to Start Betting on Sports: It couldn’t be easier to get started betting on sports. Many operators are serving the legal markets, and signing up for an account with them is a snap. From there, you can add and remove funds from your account with ease and begin exploring opportunities.
• The Mechanics of Sports Betting: One of the coolest things about sports betting is that you can get as advanced as you like at your pace. You can keep it simple and stick to the basics, or dive in with both feet to improve your skill level from the start. That’s ultimately up to you, and there’s no right or wrong approach. It comes down to a matter of what works best for you.
• Understanding the Odds: This is an area that can confuse those new to the game. In a nutshell, odds tell you the implied probabilities and potential return for successful wagers. For a simplified example, negativeodds imply a favorite and less of return potential. While positiveodds point to an underdog and the potential for bigger returns.

For each of the categories, there’s a lot more to understand moving forward. As you advance, you can explore topics, such as the odds, in much more depth. Before long, those once foreign concepts will evolve into something you understand well.

Understanding types of bets

As you gain experience with sports betting, you’ll soon come to understand that there’s a lot more to it than picking winners and losers.

There are many ways to bet on sports, and each requires its own set of knowledge.

Here’s a look at the main types of bets you can place at sportsbooks.

• Moneyline: A moneyline bet is the most straightforward of all bets. You’re simply picking the winner of the game. Favorites are designated with negative odds such as -110, while underdogs typically have positive odds like +120.
• Over/Unders: Also known as a totals bet, over/unders is a wager on the total points scored in a game. Oddsmakers set a benchmark number, and then you decide if you think the total will go “over” or “under” that number.
• Prop Specials: A prop bet is essentially a side wager on something that may occur during a game. Examples include whether an NFL quarterback will throw for a certain amount of yards or not, or how many total points will be scored in a half of an NBA game.
• Accumulators: An accumulator is a wager on four or more outcomes on a single ticket. For this bet to be a winner, all your selections must be correct. One wrong choice means that the accumulator bet is a loser.
• Parlays: A parlay is a wager in which you choose two or more bets on a single ticket. All the wagers on your ticket must be correct to win. Parlays are popular wagers that are high-risk while offering the chance for higher returns.
• If/Reverse: This type of bet is essentially a chain reaction. You place two or more bets together. If the first one is correct, then the second bet goes through as well. If the first bet is a loser, then the chain stops, and no additional bets are placed.
• Pleasers: This is a wager on two or more games at the same time. You place a bet on odds that are more favorable toward the bookmaker but have a chance at greater returns if your bets are correct.
• Futures/Outrights: A future or outright bet is a wager on an event that has yet to happen. For example, you can place a bet on the winner of the upcoming Masters Golf Tournament. Futures markets on popular sports such as the NFL can be quite active.
• Point Spread: Point spread bets are most popular for sports such as the NFL or NBA. Oddsmakers will designate a margin of points that you must factor into the equation. To “cover” thespread, favorites need to win by more than the margin, while underdogs cover when they keep the margin less than that.
• Handicap: A handicap bet is similar to point spread betting. An additional margin is added to the equation, such as two goals in a hockey or soccer game. As opposed to betting on huge favorites, you can place bets on them with a handicap in exchange for more favorable odds.
• Live Betting: Live betting is one of the most popular innovations the industry has seen in recent years. These are wagers you can place after the action has gotten underway. Markets will vary, and the odds move fast, which helps to enhance the appeal. For online and mobile operators, live betting has evolved from a niche offering to a must-have feature.

For those new to sports betting, it can be helpful to start with the simpler bets, such as moneylines and totals, before branching out into other areas.

As you gain experience and confidence in each area, you can add more options to the arsenal. You’ll be able to try them all eventually and determine which ones work best for you and your strategy.

Things to keep in mind

Sports betting can be extremely entertaining, and there’s also the chance to make a profit while doing something you enjoy. That’s a win-win scenario, but it’s also essential to go into it with a clearhead.

There’s always the possibility of hitting a big parlay you’re going to get rich with overnight. Sports betting is challenging and can be a grind, but that’s also part of the appeal.

Begin sports betting with realistic expectations and with a laser-like focus on being disciplined.

For those new to the game, you should consider the money you are wagering as part of your entertainment budget.

Only wager what you are comfortable betting and don’t exceed that amount. There will be plenty of time to increase your stakes as your skills improve, so there’s no need to rush it while you’re still learning.

Last but not least, remember that this is something you should find entertaining and enjoyable. If it stops feeling that way — or if you hit the inevitable losing streak — don’t be afraid to take a break.

Taking a step back and reflecting a bit will allow you to tweak your approach and strategy where needed. Taking a breather and gaining additional perspective can lead you to feel rejuvenated when you’re ready to play again.

How do sportsbooks make money?

Sportsbook operators are for-profit entities. As such, they’re not providing a betting marketplace out of the goodness of their hearts. The goal for them is the same as you: to makemoney.

Books that don’t accomplish that goal won’t be around too long. Oddsmakers who consistently take a beating will eventually be looking for a new line of work. That said, the overwhelming majority of established operators are really good at what they do.

They turn a profit as a result. So, how do they do that? Sportsbooks make money by the commissions they collect for taking action on bets. This is often referred to as the vig or juice.

Let’s consider an example using a standard set of point spread odds of -110.

• You place a $100 bet at odds of -110.
• If your bet is correct, you’ll get back $190.90, which is your $100% stake, plus a profit of $90.90.

So why didn’t you double your money? That’s because the bookmaker has essentially kept a percentage of the return for themselves. In addition, consider that the operator is also taking bets on both sides of the equation.

In a perfect world, they’ll receive even action on both sides. Half of the bets will win, while the other half will lose. The net of what they collect, minus what they pay out, represents profit.

Of course, not all bets will attract even action, which is why you’ll see odds move after they are released. If the bookmaker’s liability on one side of an outcome becomes too great, they’ll make the odds a bit more favorable on the other side to attract more action.

Mistakes you should avoid

Whenever you are starting with something new, it’s essential to understand that there will be a learning curve.

Mistakes will happen along the way, but you can learn from each of them and improve your overall knowledge base.

When it comes to sports betting, you’re going to make mistakes. You’ll miss something that seems obvious in your handicapping in advance of the game. Or you’ll place a bet on odds that suddenly become a lot more favorable on the side you are leaning.

It’s all going to happen, and there’s no way to prevent every mistake. However, you can avoid many major pitfalls that could make your sports betting career short-lived.

• Don’t Chase Your Losses: You’re going to lose some bets. Any sports bettor who tells you they win all the time is simply not being truthful. When losses happen, analyze why, suck it up and move on. Do not attempt to “get even” by doubling down because you’re “due for a win.” That can be a quick recipe for disaster.
• Don’t Bet Over Your Head: It’s essential to have a crystal clear budget in mind for your sports betting bankroll. Only deposit what you can afford to lose, and resist the urge to go overboard when things aren’t going your way. If your weekly budget is gone, take that as an opportunity to take a break and get back to it with a clear head.
• Don’t Be Unrealistic or Overestimate Your Skills: By nature, many sports fans are passionate. Some folks can take that to the extreme and feel as if they are always right and are destined to make tons of money betting. Don’t be that guy or gal. Know that you’ll have work to do regardless of your sports knowledge level, and also keep your profit goals reasonable.

Sports betting can be a great source of entertainment and a potentially profitable venture. However, the chances of both happening increase when you avoid the above pitfalls.

When you look for sports betting information online, you find a bunch of articles about the basics, like how to read lines and where to bet. You also find a few pages about advance betting techniques and systems. But few pages are available that help you advance from the beginning to the point where you can use advanced techniques.

This page is designed to fill this gap. You’re going to learn 11 simple sports betting strategies that anyone can use. Each of these is an important step in building your overall system that can eventually produce profitable results.

1 – Start with Small Bets

It takes a long time to learn how to beat the sportsbooks. Of course, some gamblers pick up winning strategies faster than others, but there’s a learning curve for even the best sports bettors. You only have a limited amount of money you can use to bet on sports, so don’t make the mistake of betting too much per contest when you’re learning how to win.

I started my sports betting career making bets of $22 and less. Many bets were only $5 to $11. I still make some bets as low as $11 today. It took me around 20 years of mixed results while betting part time to get to the point where I’m pretty good at it.

I used many different strategies over the years to make it easier to break even, but even with them I didn’t make any money. I just reduced how much it cost me to make bets. The main thing I did was place most of my wagers with individuals instead of bookies and sportsbooks.

This eliminated the cost of the vig, and this is a good strategy to use as long as you’re making small bets. When you don’t have to pay vig you only have to win half the time to break even. As you start making bigger bets this strategy becomes harder, because you can’t find individuals that are willing to take larger action.

When you start betting on sports, decide how much you have for a bankroll. Set this aside and don’t use it for anything other than sports betting. Divide this amount by 100, and make bets no bigger than this amount as you learn how to improve your results.

You’re going to make mistakes, and by only using a small percentage of your bankroll they won’t cost you too much. This strategy also makes sure that you can make plenty of bets before you run out of money. The longer you can stay in the game, the better your odds are of coming up with a winning system.

2 – Focus on a Small Area

Most sports bettors get started by betting on their favorite teams and betting on big games, like the super bowl or NCAA basketball tournament. I cover betting on your favorite teams in another section, but the mistake beginning sports bettors make when they bet on big games is they usually bet on something they don’t know a great deal about.

Instead of betting on everything and anything, you have a better chance of picking winners when you focus on one thing. Instead of betting on the NFL, MLB, NBA, and NCAA games, focus on just one sport to start.

Vegas Sports Betting Basics

Is to focus on one smaller part of one sport when you start betting on sports. Instead of betting on NCAA football, focus on one conference. Instead of betting on the NFL, just bet on games in the AFC East.

By focusing on one small area you have the opportunity to build a base of knowledge that helps you pick winners. In order to be a winning sports bettor you need to build as much knowledge about the teams and players that you bet on. When you can gather and analyze more data than the people setting the lines you’ve reached a point where you can make a consistent profit.

The way to get started is to specialize. I understand that part of the reason you want to bet on sports is because it makes the games more interesting, but you need to decide if you’re willing to pay I the form of losing wagers to make a game more interesting or if you want to improve your chances to win.

3 – Make Moneyline Wagers

Most sporting events have at least two different lines. One of the lines is an against the spread bet. An against the spread bet has a point spread, where one team gets points and the other team gives points.

The other common type of betting line is a moneyline. With a moneyline wager, you just have to pick the team that wins the game to win the bet. On moneyline wagers, the amount you have to bet to win is usually different than in against the spread wagers.

Against the spread bets usually, cost 11 to 10 or 110 to 100 when you bet on either side of the game. A moneyline wager is a little different. The extra money you have to bet above what you can win on an against the spread bet is called vig, and that’s how the sportsbooks make a profit.

Moneyline wagers also have a vig, but it’s harder to see because the lines are presented in a different way. Here’s an example of a moneyline wager, and how it works.

In this game, Nebraska is playing at Penn State. The team with a plus sign, in this case Nebraska, is the underdog. The +150 means that if you bet $100 on Nebraska and they win the game you get back your $100 and win $150.

The favorite, in this case, Penn State has a minus number. This number means you have to bet that much to win $100. So you have to bet $170 for the chance to win $100 on Penn State.

When you start betting on sports it can be difficult to pick winner against the spread. The sportsbooks are good at setting lines that end up close to the final score, so it’s challenging to figure out which team is going to win with the spread.

But it’s much easier to pick the team that’s going to win the game outright. As you can see in the example, it costs more to pick the favorite, but it’s still easier to pick the winner.

You can also look for underdogs that have a decent chance to win. When you can win more than you risk you don’t have to pick as many winners to make a profit.

4 – Understand Home Team Bias

In sports of all kinds, the home team wins more than the visiting team. The exact percentages vary from sport to sport and from season to season, but you can see it across all sports. Most people know this from watching games, but few understand how this biases the sports betting public. You need to understand what home team bias is and how it can hurt your sports betting results.

Because home teams win more often than road teams, many sports bettors give the home team too much credit when they try to determine the best bet. This is called home team bias. While you must account for the added chance to win for the home team when you’re trying to determine the best team to bet on, you can’t count the fact that they’re at home for too much.

The general betting public defiantly has a home team bias, and the sportsbooks have learned about this over the years. When they set their lines they account for general home team bias, and this is why betting on home underdogs isn’t as profitable as it used to be.

When the sportsbooks realized that home underdogs were covering the spread too often they started adjusting the lines against them.

Of course, you need to be careful that you don’t go too far the other way. Some sports bettors give road teams too much credit when they try to eliminate home team bias in their betting. It’s just as costly to bet on too many road teams as it is to bet on too many home teams.

5 – Line Shopping Is Profitable

When you only have one choice when you want to bet on a sporting event you have decide which side of the bet is most likely to win. But when you have multiple choices of where to bet you can compare the lines offered at different places.

Today you can place bets with local bookies, with sportsbooks in many cities, and with hundreds of sportsbooks online. You can use this to help you make more money over time.

You evaluate games the same way, but when you figure out which team should win you can look at several different sportsbooks to get the best line. This is true for both against the spread bets and moneyline wagers.

You don’t have to have any skill to shop for lines. It doesn’t have anything to do with your ability to handicap games, so it’s one of the things that every sports bettor should do, whether you’re a beginner or a veteran.

6 – Don’t Bet on Your Favorite Team

The odds are good that the first bet you placed on a sporting event involved your favorite team. Many sports bettors continue betting on their favorite team because they root for the team and want to enjoy winning some money when their team wins.

Of course, there’s nothing wrong with this, but it’s not the way to be a winning sports bettor. If you want to make money betting on sports you have to be able to look at games and teams in an unbiased way.

Instead of trying to view my favorite teams without bias, I simply stopped betting on their games. I still watch them and root for them, but I don’t even try to handicap their games.

You can bet on your favorite teams if you want to, but I recommend using a separate bankroll to do it. It’s difficult for a fan to look at their favorite team and players without bias, and this bias costs you money in the long run.

7 – Understand the Sports Betting Profit Model

In order to make the best decisions when you bet on sports you need to understand how the sportsbooks make money. Once you understand how they make a profit, you can use this information to help you in your quest for profit.

I mentioned the vig in an earlier section, and it forms the basis of all profit for the sportsbooks. When you have to bet $110 for the chance to win $100 it creates a gap of profit. When you win you get back your wager, so the book doesn’t make any profit on your win.

But when you lose, the sportsbook gets the amount they risked paying out as well as the extra amount you had to risk. If they take a bet on each side of a game they lock in a profit.

The sportsbook takes a bet of $110 to win $100 on team A and also takes a bet of $110 to win $100 on the opponent, team B. When team A wins the sportsbook wins $110 from one bettor and only has to pay out $100. This locks in a profit of $10 on the game.

The perfect situation for a sportsbook is to have the exact same amount wagered on each side of every game. This is hard to accomplish in the real world, but if they set good lines it averages out over time.

This also means that the sportsbooks set lines based on trying to create the same amount of betting action on each side of each game. They don’t set the lines based on the predicted final score. While these two things often end up close together, it still gives a smart sports bettor the chance to find profitable lines.

When you can predict the final score spread of games accurately, you can compare your predictions to the available lines. Often these two things are close, but sometimes you can find a game where the line the sportsbook sets is different than your prediction because the book is more interested in creating equal action than predicting final scores.

8 – Learn the Key Positions by Sport

In some sports certain positions are more important than others. Once you learn which positions are the most important you can spend more time evaluating players at those positions to improve your chances to win.

In baseball, the starting pitchers for each team are the most important positions. This has been true since baseball was invented, but in recent years starting pitchers have been throwing fewer innings and the bullpen has been gaining in importance.

I’ve started valuing the bullpen almost as much as the starting pitcher in games. Unless a game goes extra innings, there are only nine innings. Many managers are quickly replacing their starting pitchers after they get five innings pitched.

Five innings pitched is roughly two times through the batting order, and the more times the pitcher faces the batting order the worse his results are on average. Pitchers who go beyond six innings are becoming rarer every season.

How Does Sports Betting Work

If you work with the idea that the starting pitcher will work around six innings, then the bullpen works around three innings. This might make you think that the starting pitcher is twice as important as the bullpen, but this is a dangerous way to handicap baseball games.

In football the most important position is the quarterback. No other position comes close to the importance of the quarterback.

Basketball is one of the few sports where position isn’t overly important to sports bettors. The NBA, and for the most part the NCAA, is a star driven sport. The best players are the most important ones for handicapping purposes, no matter where they play.

Hockey and soccer is somewhat like the NBA because the best players tend to control the games, regardless of position. I always take a close look at the goalies in both hockey and soccer, but I don’t weigh their input a great deal more than other positions.

You still need to look at every position and player on each team to do a good job handicapping sporting events, but you should always start with the key positions.

9 – Bigger Games Have Tighter Lines

In the section about the sports betting profit model you learned how sports books make money. If they can get roughly even action on both sides of a game they take as much action as they can get. But they rarely get equal action on both sides of a game.

When they can’t get even action they’re at risk of losing money on a game. The most popular games create the most betting action, so if the sportsbooks make a mistake on the line they offer it can cost them money.

Remember, the sportsbook doesn’t want to predict the final score; they want to create a line that gets action on each side. In the biggest games, like the super bowl, the books take so much volume that they have to spend more energy and time setting the best lines possible. This usually results in tighter lines on big games than on less popular games.

Sports Betting For Beginners

The sportsbook has to set lines for 10 games for the day. One of the games is a big rivalry that traditionally creates half of the total action the book takes in for the day. One of the games is between two smaller market teams that traditionally have only created a couple of percent of the daily action. The other eight games fall somewhere in the middle.

Which game is the sportsbook going to concentrate on setting the best possible line for? Of course, the answer is the one that creates half their daily action.

Which games will they spend the least amount of time setting a line for? The game that only accounts for a couple of percent of their daily action is the answer.

I’m not trying to say that the least popular game is always the best betting option, but it’s easier to find lines that offer betting value on one side or the other of these games than the bigger games.

10 – Avoid Dangerous Sports

Most sports bettors never think about the possibility of a game being fixed, but it happens sometimes. Some sports are harder to fix than others, but if you aren’t aware of the possibilities it can cost you money.

Individual sports like tennis and golf are the easiest to fix. You only need one person to alter the outcomes in a way that can be profitable to the fixer. Team sports are more difficult to fix, but basketball has a history of games being fixed. An NBA fixing scandal was recently in the news. You can read more about it here.

11 – Treat Sports Betting like a Business

If you want to succeed as a sports bettor, you need to start treating it like a business instead of a hobby. Businesses have a budget, track their results, learn from their mistakes, and try to make profitable decisions in every area of the business.

These are all traits that the best sports bettors have as well. Start tracking all of your results and work with a set bankroll. You can add money to your bankroll if you need, but keeping your bankroll separate from your regular finances helps you track it better.

Beginners Guide To Sports Betting

Conclusion

Sports Betting Guide

It’s hard for beginning sports bettors to make a profit, but with these 11 tips you can get a jump start. Dividing your bankroll up so you can bet on plenty of games helps keep you in action longer, and helps you track your results. Specialize in one area, shop for lines, learn about bias, and stop betting on your favorite teams.

Betting On Football For Dummies

When you learn and start using everything on this page your results will instantly improve. Once you’ve mastered what you learned here, continue learning and testing new things to keep improving. With constant improvement you can start turning a profit before you know it.