Have Fun and Make Money
Millions of people have tried to make money betting on sports. The vast majority have failed, and the proof is obvious: Las Vegas, Atlantic City, and the offshore sportsbooks’ increase in profits every year. That’s your money. If winning lots of money betting sports was easy, no one would work and the books would go out of business.
But some people do make money, and they do it by following seven simple secrets. Interested? Keep reading.
Rule #1) You need to establish in your mind what is successful in how you would define making money, or “beating the book.” And you need to be realistic by defining your bankroll. You can’t beat what you can’t afford to lose. So start there. That is a very key concept.
Rule #2) Handicapping your game so you know what games to bet. The line (also called point spread or odds) is created with the intention of splitting all the money bet on that game in half. That way, the bookmaker makes money when he charges his juice, or vigorish to the betting public. If you know more than the public, then you have a strong chance to beat the line by winning more than 54% of your bets, which you need to do in order to cover the 10% vigorish the sportsbook charges. Knowledge about a game can come from any combination of your own research and insight from experts. With knowledge comes all-important confidence – allowing you to enjoy the action without the doubts that go along with betting in the dark.
Rule #3) Know your limits as a handicapper. Remember, to know more than the public requires either more effort or an extraordinary amount of skill. Most people lead busy lives, rarely leaving enough time to fully study the games. If you can spend that extra time reading articles that outline different strategies and getting data that help in making that decision, you will be ahead of the curve.
Rule #4) If you are not able to spend this time, then there is no harm in paying money for that information. But in so doing, you need to make sure that you use the right handicapping experts. Finding helpful handicappers is harder than you think. You need to trust them, and then determine that they are going to deliver you info that will help you win. Monitor and read about as many top handicappers as possible before you make your decisions.
Rule #5) Make sure you don’t spread your money too thin by beating on too many games. Remember, sportsbooks don’t make mistakes on games to often, and if you find your game, make sure you hit that game as hard as you can within your money management strategy. If you play the entire board every night, you will most likely be playing many games in which you have no edge. Focus upon those few games that you know more about than the public. TV games are the most tempting to play even without a strong opinion. But that is what the books are looking for, as they spend the most time in assessing those games, and the odds for that game is usually very close to the real score.
Rule #6) Unless you are looking at being a professional sports bettor, remember to not bet too much on your games. Sports betting is ultimately supposed to be fun. But while being fun, you can still make some money at it at the same time. Even strong information has its losing streaks, and if your oversized betting knocks you to the sidelines due to one of those streaks, then you’ll miss a lot of future fun.
Rule #7) Focus, do you homework, and then bet the best line, the one with the most value. No single effort will make a bigger difference to your sports betting fun than betting the best possible line. Consider all the games you’ve lost in the last year by a half point, and imagine that you pushed them all – then imagine winning all the games that you pushed, and if you had won them by a single point. No doubt the dollar difference would be significant. It’s all in the value. But also remember that you need to have more than one sportsbook, so that you can find that value.