A Guide Covering Effective Sports Betting Strategies
Sports betting is nearly as old as sports themselves. For instance, there’s historical evidence of people betting on the sports of the Olympic games in Ancient Greece, somewhere about 800 BC. Over two millennia later, sports betting became more popular than ever, but surely, a lot has changed since. Punters can now bet on any competition around the world, wherever they are.
More excitingly, they can still do so on live games straight from their mobile devices.
Today, over 25 million punters engage with online sports betting in the US alone. Naturally, sports betting is much more complex now. Countless specialists and enthusiasts have been working on strategies to improve their chances. It’s important to note that there’s no way to guarantee a bet will land. Those who love sports know that unimaginable things can happen during a game, and, not rarely, underdogs beat favorites.
Still, some sports betting strategies can increase a punter’s chances of success. Learn more about them below.
Contents
Reading Numbers
Sports betting isn’t like gambling. For once, it’s possible to determine the outcome of a successful bet, as they have fixed odds. Punters can calculate their potential winnings by the betting amount and the odds of a given market. Even though surprises aren’t rare in sports, statistics play a vital role, as they can fairly predict favorites and underdogs.
Unfortunately, there isn’t a silver bullet to score on every bet, but this comprehensive guide may help punters in their efforts. Here are the most popular strategies in this market.
Bankroll Management
Sports betting isn’t all about money, but it plays a vital part, obviously. If punters go all-in on bets that don’t land (and they don’t land often), there’s a chance they won’t live to fight another day. So, a key feature of successful punters is clever bankroll management. How does it work, though? It starts by having clear bankroll limits and, above all, not going crazy over specific bets. According to specialists, dividing the bankroll into units of 1% to 3% and never betting more than one unit per market is advisable.
Value Betting
Reading the odds is vital, as they hint at the most probable results. The lowest odds point to the probable winner, while underdogs have much higher odds. The odds also allow players to calculate the implied probability of each market. For instance, an odd of 1.75 results in 57.1% of winning chances. However, there’s always a chance that the odds aren’t correct, and it’s up to players to determine that.
Hooks
Regarding point spread betting, paying attention to “hooks” or the half points on the odds is advisable. Half points are included in point spreads to ensure that draws won’t happen, which can increase punters’ chances. For instance, if Team A has a point spread of +6.5 and Team B has -6.5, Team A can lose by six points or less and still be the bet winner.
Conversely, Team B needs to secure seven points or more advantage to come out on top. In some cases, punters can “buy” these half points for a higher bet, which can shift the odds in their favor.
Arbitrage Betting
How about betting on both sides of the match? In some cases, the strategy known as “arbitrage betting” can bring sure winnings. It’s especially true when both sides have similar winning chances on different sportsbooks. For instance, if Team A has +110 odds on one sportsbook and Team B has +110 on another, punters can bet on both and secure profit, regardless of the result. It requires punters to do some legwork and compare odds across several platforms.
Dutching
Dutching is similar to arbitrage betting, as it involves betting on different sides on different platforms, but dutching goes a step further. The main difference is that arbitrage betting and dutching the first focuses on single lines, while the second involves betting on several results across several websites.
Fading the Public
Most punters prefer lower odds, as this option points to probable winners. However, it’s not where the big winnings are, and that’s why some people prefer to go against the tide in a strategy known as “fading the public.” It’s a risky strategy, though, as underdogs are underdogs for a reason. However, rightly guessing when an underdog is ready to rise again can bring juicy rewards.
Cashouts
Some sportsbooks offer the cashout option, allowing punters to withdraw their winnings before a bet is settled. It happens when the sportsbook knows a bet has a fair chance of landing. So, it “buys” the bet, paying considerably less than if the bet was won. It’s still a good chance for players, though, as they can secure at least partial winnings. It’s a common option in live bets for fast-paced sports like tennis or basketball. Timing is paramount here, as cashouts come and go while the game unfolds.
The Last Lines
Sports betting isn’t a game of skill, but knowing its nuts and bolts can make a huge difference. Punters need to know how to read different kinds of odds and dive deep into the statistics of the sports they want to bet on. Indeed, knowing details like previous results, matchup stats, injured players, changes in coaching, or recent transfers can increase a punter’s chance significantly. Above all, betting amounts shouldn’t be decided on gut feelings, as effective bankroll management is a mandatory feature of any successful punter.