Sports betting is certainly a very challenging type of betting-and gambling, and despite its seeming lack of strategy and complete reliance on knowledge of the event, good sports betting really relies on a great deal of strategy which is required to win. (Sports betting strategies). The most important tactics involve a close analysis of the information upon which a good judgment must be based and after which the bet must be placed. To have a winnning strategy, you must take these factors into account:
1. The amount of the bid
2. The type of bet
3. The odds on offer
Sportsbooks in the US and Bookmakers in UK are businesses that accept and take sports bets. The bets are placed by predicting the end result of several sporting events like Baseball, Snooker, Basketball, Hockey, Soccer, Football, Tennis and hundreds of athletic or sports activities. Let’s go over the absolute basic definitions: a sportsbook is the one that accepts the sports bet. An oddsmaker is the one who sets the odds of betting.
Betting the Odds
In order to place a bet, you must first choose the type of bet you will make and the amount of money you will wager for it. This decision will be made based upon the odds that are being offered. Before you place the bet, you must carefully study the range of all the odds.
The odds must be in the ratio of at least 2:1 for the bet to be worthwhile. Also take into account the total amount being given by way of commission to the sports-book. This ideally should be a small percentage of the total value of the odds.
Below is a list of the most common kinds of bets:
1. Single or Straight Bet: This is betting in its most basic form and allows you to bet at given odds, upon a winner.
2. Point Spread: Under this bet you can bet on one of two selections that have been equated through the allocation of suitable points. In the Point Spread, the number of allocated points are presented with a + sign for the favorable side and a – sign for the underdog. In order for the better to win, when the favored team must win by more than the Point Spread. On the other side, if a bet has been placed on the underdog, that team has to lose by less than the Point Spread for the better to win.
3. Buy Points: This kind of bet involves moving the Point Spread positively, by paying a price.
4. The Moneyline: This type of bet is just on who will win. It establishes the odds for each side but is the opposite of the Point Spread, with a – sign standing for the favorite and the + sign for the underdog.
5. Total Bet: This is similar to point spread bets, only in that the better bets on the total points scored.
6. Over/ Under: This is a bet as per which the number of points scored by the teams in any game will be beyond/ over OR below/ under the total set by the oddsmaker.
7. Parlay of Accumulator: This type of bet is a way of betting on multiple sporting events in the hopes that a big payoff will be made if all win. The picks are made in relation to the point spread. Even if one event does not win or draw, the better loses the entire bet. This type of bet can generate huge amounts of money, in the event of a win.
8. Teaser: A teaser is similar to a parlay, but it has the option of adding or taking off points from one or more than one Spread bets. The odds are dependant upon the number of points the spread is moved as well as upon the number of teams that are combined to form the teaser.
9. Futures: This type of bet is on who will win the championship in the event that there are more than two possible teams to bet on. Substantial variations between sportbooks exist in house edge on futures.
10. Buying Half a Point: With this, the straight bet player gets the option of moving the point spread half point to his advantage. The most appropriate time to buy a half point is when one team is favored by 2.5, 3, 6.5 or 7 in football. This is primarily due to the fact that several games end in a 3 or 7 point difference. The extra half point may end up turning a loss to a draw or a draw to a win.
Out of all of the different kinds of bets, there are 3 that are used simply because they are easy to win and have a good chance of winning. These bets are the Straight bet, the Doubles and the Future.
Some betting tips are:
1. Always make an intelligent analysis of the odds and the offer of the bet.
2. For the simple bet, stick to the Straight bet as it is non-complicated and has good winning prospects.
3. Bet smart by keeping your selections limited. Also try to limit the influence of bias in your betting. If you are a fan of a team try to limit the effect of that favoritism when betting.
4. One of the highest paying bets is the ‘Future’ bet but only if you know a lot about the sport being played and about the players.
5. By making sure your betting is systematic and analytical, one will greatly improve your judging ability.
6. Supress the urge to bet with all your winnings immediately. If you do not follow the standard rule of 50%, at least put some of your winnings back into your pocket.
7. When choosing a sportsbook, make sure your sportsbook is a member of a known Gambling Association, makes a quick payment and is easily accessible. Read in between the lines, about matters pertaining to disputes.
8. Train yourself to look for value odds – you will master this art soon, with time and practice.
9. If deciding between two seemingly equivalent choices, trust your judgment and not that of those who have bet before you. In so doing, choose a selection with a little higher risk so as to hike up the winnings.
10. Bet on games and leagues where the sportsbook’s commission is the least. This is often in the sport or sports with which that sportsbook does most of its business, as it is likely the most efficient in that area.
Hopefully you have a better grasp of the sports betting industry. Now, you may want to consider using a handicap sport better. Here you can read a full review on John Morrison (a widely known and popular): Daily Pick