Do you wish to know how to make money by betting on sports? If you do, you are most likely a sports fan but the truth is fans tend to lose a lot of money in sports betting. That is simply because they are biased towards their favorites. So, the first rule to win money on bets is to stay impartial. You have to be objective about a team’s odds. Besides fans, you will also find professional gamblers placing bets on sporting events like the NCAA basketball Final Four or Super Bowl.
How To Win Money Through Sports Betting:
- Sports bettors are typically those that are keen to use their expertise and knowhow about a certain game to earn some extra moolah. Sports betting will also push you into a game’s main action. Any kind of betting will involve an understanding of mathematics, even those that are apparently games of chance. So, if you learn the mathematics behind betting, you can get an edge past others. As a sport bettor, studies show, you must win 52.4% of your total bets to break even. And to win more money, you need to win more than this percentage of bets. For instance, if you end up losing 50% of the times, but what you lose is more than what you win the remaining 50% of the times, you actually end up losing more money.
- When you visit a bookmaker’s website or a casino, you will find – sign next to the favorite. The team with + sign is the dog. The bookie will create lines so that bettors do end up with a huge loss whenever the favorite beats the underdog. Without this line, all bettors would only bet on the favorite. The point spread refers to a condition when you have 50% chance of winning. “Sharps” are educated sports bettors who bet big amounts and bookies will adjust the point spreads for stimulating action. You can earn money by tracking the actions of sharps. For instance, try to identify a reverse line movement, or a line moving away from the popular side that has more money bet on it. this will help you understand which side the bookies are trying to stimulate actions in.
- You will also find many sites that assess the percentage of action on each side during an event. For example, during a football match, you may see 70% bettors betting on one party and 30% on the other. If you choose to go with the 30% you become a contrarian. This usually indicates betting on the dog while most people tend to bet on favorites. Betting on underdogs can be a great way to start earning more money in sports betting.
- Finally, you must learn how to manage your bankroll well. You may lose a bet even if you confident about it. And the truth is you may end up losing more bets in a very short time. So, ideally, you must not have a lot of bankroll in action for any bet. You should never place a bankroll of $10,000 if that is all you have on one match; chances of losing the whole bankroll is 35%. This automatically implies staring afresh and building a new bankroll takes time. So, your risk tolerance must determine the size of your bets.