Sports betting is one of the best ways that players can increase their odds at winning. While many other casino games and betting opportunities are based merely on luck, betting on Sports allows players to actually analyze information and the history of specific teams, individuals and other factors involved in sporting events in order to determine who or what to bet on and how much to put right on the line.
To be successful at Sports betting, there are three main areas that players need to look at, analyze, and help them make a decision on the most effective and potentially successful way to bet.
Sports Betting Strategy:
- The Odds offer - in Sports betting, this refers to the price of placing a bet. In order to be worthwhile, the cost versus the potential payoff should be at least 2:1. Sometimes lower risk bets don't result in a big payoff, and these are not usually worthwhile; so pick a bet that has a slightly bigger risk in order to make it worth your while!
- Strategy: The Value of the Odds - sometimes a Sportsbook or casino really boosts their commission to make a large profit on every bet. Look at the Value of the Odds and choose bets where the Sportsbook takes little to no commission
- Pick a straight forward bet - if you're looking to take a profit from your bet, make one that's straight forward. Once you have a better understanding of the betting types you'll know how to bet - the ones with the biggest potential to win are the Straight Bet, the Futures and the Doubles.
- Strategy: Don't bet too much - choose where to spend your money, but don't place too many bets. If you have a certain amount to spend, choose a few bets that you will place; don't get overzealous, or your odds are only decreased
- Don't play your winnings right away - playing all of your winnings as soon as you receive them can quickly cause you to spiral out of control; not only are you likely to lose your money, you might also find yourself on the road to establishing a gambling addiction. Play with some of your winnings, but make sure that you walk away with some as well. To control your gambling, set a limit on your spending even with winnings; tell yourself for any winnings you can play half and keep half, or setup another structure that works for you
- Strategy: Play at a reputable Sportsbook - whether betting on sports online or at a brick and mortar Sportsbook, you need to ensure that the one you choose is reputable as you will find the best odds and are less likely to be taken advantage of. Don't make any quick decisions without first doing some research when looking to join a Sportsbook; make sure that they are regulated and a member of a known Gambling association; that they have guaranteed payout terms and timelines; Customer Service that's always available; and specific guidelines should a dispute come up. Much of this information should be available on the Sportsbook's website, and also included in their Terms & Conditions document. If there's not enough information available, contact the casino to learn more about areas that are important to you
Types of Bets in Sports Betting Strategy:
- The Future Bet - betting on Futures is one of the best ways to win a good profit, especially if you have a good understanding of the Sport and feel you can use your good judgment coupled with your knowledge in order to place the bet. For example, if you watch NFL football every Sunday, betting futures is a great way to play. A Futures Bet is a Straight Bet that predicts the outcome of something that will happen in the future; like betting on which Football team will win the Superbowl at the beginning of the season.
- Straight Bet - like a Futures bet, with a straight bet you're betting on the outcome of a specific event. You can bet on which team will win on Sunday's game or something else similar
- Doubles - a Double Bet is a Straight Bet where players double up the normal betting amount and essentially putting double the money on the line