Sport betting is the activity of predicting sports results and placing a wager on it. This type of betting is legal in some countries and illegal in others. In this digital age, sports betting have also become digitalized. Previously, there were many bookmakers that maintained books with the bets. However, today you can find many bookmakers online, operating over the internet, which can help you place your bets quickly. Sports bets are mostly placed on popular sports like American football, basketball, baseball, hockey, cycle racing, boxing, etc. at both professional and college level. Many sports books also extend bets to non-athletic events like reality shows, award ceremonies, etc. There are many ways to create action wagering on games with different types of bets. The most common types of bets are moneyline bets and point spread betting. Others include total bets, proposition bets, parlays, teasers, etc.
Here are some useful tips to place productive bets in sports for novices as well as experienced betters:
Shop Around For Best Moneylines
Sometimes, many sports books will offer better moneylines compared to others for the same games. This means you have to risk less for the chance to win the same amount of money. You will need to make accounts in more than one sports book (ideally 3 to 4) and shop around before placing the bet. Experts say the best time to line shop is an hour before the game.
Place Smart Bets
Betting is not all about confidence and luck. It is also about number crunching. Never place a bet that is more than 3-4 % of your bankroll. Ideally you should place a bet of about 1-2 % of your bankroll at most. However, you can reduce or increase this percentage based on how confident you are about the bet.
Don’t Be Afraid of Backing the Underdog
Sometimes the favorite team is chosen based on popularity rather than skill or performance. So, if you feel like betting on the underdog with enough skills and favorable odds, don’t hesitate in betting on them. Experts say that betting on the underdogs is a great strategy, but choosing the correct team matters the most.
Don’t Chase Bad Bets
It’s a normal human tendency to try to compensate for previous losses. However, in betting, it can be dangerous to try to recoup losses from the previous bet with more betting. Many people tend to set aside their judgment when they focus single-mindedly on winning back their losses. The same is also true for good bets. It is advised to not chase good bets simply in order to double your money. Instead, play safe, research, and think smart before placing bets.
Bet Against the Public
Fading the public is one of the most important sports betting tips that experts believe. It is common knowledge to any seasoned sports betting professional that public always bets on the favorites. Hence, many sports books choose favorites based on public opinions rather than their chances of winning in order to entice the public to bet more. If you bet against the public, the odds of your win can increase by 1-3 %. This betting strategy can certainly produce a positive return on investment.