Learn what betting the spread is and how to read the lines. Point Spreads are the most common bet in sports. Also known as the line or simply the spread… Point Spreads are the great equalizer. The point spread gives one team a certain amount of points to make the teams seem more equal.. This entices people to bet on both teams even if one is perceived to be way better than the other.
Learn what the moneyline is and how to interpret moneyline odds with examples. A money line bet is the most simple bet in sports betting. When you bet on the moneyline, if your team wins then you win. It is that simple. You pick who you think will win and do not have to worry about any point spread covering or late-game shenanigans.
Learn what it means to bet the Total and how to read the odds when it comes to picking the Over or Under. Over Under betting or Total betting is another very common bet in the sports world. Totals in a single game bet is when you are betting on the total number of points scored by both teams.
Learn what a bookmaker/bookie is and how to find the right one for you. A bookmaker or bookie is a company or individual who creates and posts lines and odds for sports betting. Books will initially set the line using advanced mathematics, scientific formulas, computer algorithms and team power ratings. After the initial line is released, they will track where the money is being played and adjust the lines and odds accordingly.
Learn what to expect when placing a bet at a sportsbook. There are three things you need before you walk up to the betting counter. Number one… the betting or “rotation” number. Number two… the bet type. And Number three… the betting amount.
Explains how sportsbooks makes their money and what to look out for when placing wagers. The vig, which is short for vigorish, or juice is essentially how the sportsbooks make their money and adjust the odds or prices. The sportsbooks add a “price” so to speak to certain teams or games in order to attempt to make a profit no matter the outcome of a sporting event.
An odds on favorite usually refers to a future wager or an index bet that includes multiple betting options. For example, betting on who will win the championship before the season starts. In some cases one team is expected to win the championship and the bookmakers adjust the price to make them that team the “odds on favorite”.
Learn what to expect when you catch a bad beat. A bad beat refers to when the side you bet on is the “right” side for the large majority of the game. This means that it looks like your ticket is going to cash as a winner for almost the entire game and then something dramatic or unforeseen happens at the end of the game that turns you seemingly easy winner into a big fat loser.
When delving into the realm of sports betting, you will often hear about what the “Public” is betting. The Public refers to the average person who is betting on sports just for recreation and does not do it for a living. The common stereotype is that the public usually bets in the same way and may often bet on what is seemingly the “obvious” outcome. The public tends to bet on the favorite since they are perceived to be the better team. The ideology behind fading the public means you are betting on who the book needs to win to ensure a larger profit. Over time fading the public may not always work but will usually result in profits for your bankroll over an extended period.
Learn what professional sports bettors are doing and how it affects squares. Sharp money refers to what the pro sport bettors are betting on.
Chasing steam refers to betting right when the lines open up, often way ahead of actual game time, especially in football. It is the practice of betting on an early line before a bunch of money comes in on the same side you are betting on. If you are early enough to chase the steam… you can lock in a line that will likely be much different than the closing line. Chasing steam is a common practice for pro sports bettors and if you pay attention to the markets you can follow these early pros and get the best line before bookmakers move it.
Most bets are based off the game score and result. However, the sports betting menu often includes much more specific bets called props. Props are bets on an occurrence or outcome that does not necessarily affect the final score. Prop bets can be very simple or extremely creative. Prop bets provide a fun way to get more immersed into the game and find new ways to make a profit outside of results based on the final score.
Learn how to place a parlay bet and what the advantages and disadvantages are. Parlay is a common term you will hear in sports betting. A parlay connects multiple bets on one ticket.
Learn how to construct a round robin parlay and when to utilize it. Round Robin bets involve multiple teams... usually two to six but it depends on the sportsbook. It is a way to combine multiple parlay bets in a single bet. Round Robins allow a bettor to bet multiple parlays at once. If you want to make multiple parlays the book will create them for you automatically after you select your teams.
Learn the basic concept of how teaser parlays work and how the payout odds are reduced as a trade off for giving you additional points to adjust the spread in your advantage.
Learn the basics of futures sports betting, and how it can be advantageous and exciting. Futures are usually put up before a season or an event and can be updated throughout the season or event. You may have heard of a team being the favorite to win the championship during the pre-season. This statement comes from futures odds.
Learn what hedging a bet means and when is the right time to hedge a bet. Hedging is when you bet on the opposite side of your original bet to guarantee a profit. Hedging can also include when you make two separate bets to decrease the amount you may lose on a bet.
Learn how to use the Kelly Criterion and the associated advantages and disadvantages. The Kelly Criterion System is one specific bankroll management system and is a mathematical formula that calculates how much you should bet on a certain wager. It calculates how much you should bet and guides you to wagering more on bets with less risk and less of your bankroll on riskier wagers.
The Martingale System is when a bettor keeps betting on the same team and outcome until it becomes a winner. For instance, you bet on the same NFL team every week on the spread until they cover. The advantage of this strategy is that eventually you will be a winner and make a profit - unless of course a team never covers a spread. However, the main disadvantage of this strategy is the large bankroll it requires if the team you pick goes on a long losing streak.
Learn how to track, follow and understand the betting percentages and line movement to identify where the sharp money is going.
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