There is a significant portion of the population that believes that no one can win sports betting. These guys are also possibly part of a group that thinks that no one can succeed in sports gambling in the long run.
While their presumption is wrong, it’s not a shock they feel that way, and it’s hard to fault them in many ways. Sportsbooks and casinos have a reasonably good advantage that even experienced players have trouble overcoming. The overwhelming majority of people lose out on sports betting and other forms of gambling.
These sceptics have either lost a bit of themselves or have friends or family members who haven’t had a lot of luck with the bookies or their local casino. Some of them may even be gambling addicts themselves and have since stayed off gambling since their problems.
Table of content:
- It’s Rare For Anyone To Start As A Winner
- Pay Regards To The Oddsmakers
- Make The Best Use Of What You Know
- Handicapping
- Value And Probability
- How Much Money Can You Make Sports Betting?
- Conclusion
It’s Rare For Anyone To Start As A Winner
Except for a small few, almost no sports bettor can begin his career as a winner. Many starts betting for fun and don’t try to get invested in the strategy behind sports betting.
Some may leave after losing a string of bets, putting an end to their career betting before it’s even begun. Others are going to run up the balance, only to lose it all back.
The knowledge to win steadily in sports betting is available. It’s up to players to determine whether to hone their talents and dive deep into the world of handicapping and sports betting or to keep giving money to sportsbooks.
Special Note: Sports betting is not a get-rich-quick scheme. If you’re trying to make it big on a big gamble, sports betting isn’t for you. It’s a little bit of a grind. Very few people bet as their only source of income. The vast majority of winning sports betting players wager part-time and make a decent side income in addition to their daily work.
Pay Regards To The Oddsmakers
The ten percent Vigoris of sportsbook on each bet is a big advantage for the oddsmakers and the explanation behind how they win when they balance the action, but it’s not the only reason they usually win in the end.
Their knowledge of betting and handicapping is second to none. They set the accurate lines and adjust the odds depending on the betting movement. Their work depends on the precise handicapping of games and the making of adjustments on the go. Not only are they good. They’re the best in the world to do what they do.
The biggest myth among sports betting players is that they have to “outwit” the oddsmakers to succeed at sports betting. Being smarter than the oddsmakers, in the long run, is just not possible.
In reality, knowing the line movements and attempting to get into the heads of the world’s best odds is what’s going to benefit you the most. It’s no good trying to defeat them in their own game.
Make The Best Use Of What You Know
Sports betting experience, interestingly enough, is not a prerequisite for winning sports betting. A lot of sports betting is dependent on maths and can be done by people with little knowledge of sports. It definitely helps, however.
Knowledge is power, and this is particularly true when it comes to sports betting. The more you know about a specific sport or event, the more you foresee the probable outcome.
This does not mean following ESPN a lot or taking a pundit’s opinion and casting the bet as your own.
It means, rather, studying the sport thoroughly and knowing the game beyond the mere numbers. It isn’t easy to be an expert on any sport on the planet. It’s a lot easier to specialize in a few sports and even try to play the field with the oddsmakers.
Understanding lesser-known or smaller-market sports available for gambling may provide a distinct benefit compared to larger markets. The rationale behind why sportsbooks have lower betting limits for small-market sports is that they are less informed about these competitions. Sports like rugby, baseball, and college basketball, have even lower betting limits than the NFL.
Handicapping
The principle of handicapping is basic, but it can be one of the most difficult sports betting aspects. When we handicap a game, we’re aiming for an advantage based on the odds offered to us by the odds-makers.
What’s Handicapping?
Handicapping is a method that takes a wide array of variables into account. A basic understanding of the sport and the teams involved is a must, but it just scratches the surface. Details like:
- Weather:
- Stadium factors
- Previous meetings
- The current mindset of each team
Several other aspects are on the mind of the handicapper.
The public view of a team or rivalry and the views of oddsmakers and other sharp bettors (which can be derived from betting percentages and line movements) are highly important.
Solid, seasoned handicappers weigh all these to formulate a game opinion.
Value And Probability
Value
Sports betting is mostly about value. Just like the stock market, the odds or prices of each market are continually changing. Every market has an opening and a closing line, and bettors do their best to get the best price.
Finding value and spotting shortfalls in the betting industry is the secret to success in sports betting.
You wouldn’t buy a stock at its highest price this month, would you?
It’s the same with sports betting. A major change in odds can eliminate value or give a low-purchase opportunity.
Probability
Value goes in tandem with probability. Probability is the degree to which anything is expected to happen. In sports betting, this can be measured based on the betting odds.
For instance, a-200 favorite has an inferred probability of 66.67 percent. This means that bettors will have to win their 66.67 percent bet to crack even on their no-vig line bet. Identifying the true probability of a bet is one of the hardest aspects of a handicap. Those that can do it well are exceptionally successful.
How Much Money Can You Make Sports Betting?
In several ways, the sky is the limit when it comes to the earning potentials of profitable sports punters. Sports bettors vary from an ultra-recreational bettor, who may wager just a few times a month, to full-time professional bettors, who invest large amounts of money every year. This is what makes sports betting such an attractive side hustle. You start small, aiming to make a few bucks, and there’s no telling where you will end up!
The real question shouldn’t be, “How much can you earn? “But more like, “how much money are you looking to make?”
A side hustle is about having some valuable backup income that can be diverted towards improving your lifestyle. The sports betting world is really about entertainment, but that changes a bit when you approach it with a view of trying to make money regularly. All of a sudden, bets should be evaluated, considered, and thus less impulsive.
Conclusion
It’s a difficult struggle for many people to understand that sports betting can be a lucrative venture. There’s a lot of misinformation and noise out there. It can take years for bettors to gain the right techniques and knowledge to win sports betting.
A good understanding of these principles is key to your success as a sports bettor.
