While there are a lot of people who claim to be expert sports bettors, very few actually turn a profit over the long haul. In order to become a profitable sports bettor you must be willing to spend time and effort researching the game, studying betting lines, and learning about betting markets.
You must also understand expected value and the bookmaker margin. Expected value is a calculation of the true probability of a wager and how it compares to the odds that a sportsbook has set. Essentially, you want to place a bet that has a positive expected value over the bookmaker’s margin.
If you do this successfully, it will lead to a significant increase in your long-term profits. However, this is not easy and it requires a significant amount of research, time, and money to master. The good news is that if you follow these tips, you will be on your way to becoming a profitable sports bettor.
Learn to Read Betting Lines
Sportsbooks have a vested interest in making their lines as accurate as possible. This is especially important when it comes to heavily bet games. The high volume of action and the excitement surrounding a game will usually force books to adjust their lines to ensure they are taking in as much money as possible. The best way to avoid this is to take the time to research the game before placing your bets.
Understand The Pythagorean Wins Stat
Pythagorean wins is a math formula that takes into account the number of points scored by a team and how many points were allowed by their opponents. It is an incredibly useful tool when evaluating teams and can help you determine which ones are the best picks for a bet. There are free calculators available online that can help you figure out the Pythagorean Wins stat for a team or an individual player.
Bankroll Management
Like any type of gambling, it is important to keep your bankroll in mind when betting on sports. You should always have a fixed amount of money that you plan to use for your bets. This is called your bankroll and it should be a sum that you can afford to lose without putting yourself in financial jeopardy. A general rule of thumb is to only risk 1%-5% of your bankroll per bet.
Know How to Bet on Over/Unders
Over/Under betting is a popular wagering option in sports betting. This bet involves betting on the over or under of a particular statistic in a game. The statistic can be total points, goals, rebounds, saves, rounds, birdies, or any other statistical category in a given sport. You can place a bet on over/unders at most sportsbooks.
The over/under is a great wager for those who don’t mind a little bit of risk. Just remember that the game may not end as expected and your over/under bet could lose. Despite this, it is still a fun and lucrative wager when you play smartly.