If you are new to sports betting, it is important to understand how odds work. This can be tricky, so we’ve put together the best sportsbook strategy guides to help you get started.
1. Don’t bet on favorites
The first sportsbook strategy for betting on sports is to never bet on favorites.
A favorite is a team that has strong bettor backing. So more people bet on that team, and more money (total amount wagered) goes into the pot. This means that even if your team wins, you are likely to lose your bet.
Let’s look at some examples to illustrate this concept.
- If 10 people bet $10 each on Team A, and only 1 person bets $100 against them, if Team A wins, all of their money is taken, but half of yours. Only! It’s not very fair to people who know what they’re doing.
- On the other hand, if everyone bets on the same team and everyone invests the same amount in their chances, when they lose they all lose equally. defied them.
2. Bet on an upset
Betting on the underdog team is a smart move as they are more likely to win and cover the spread. A Wall Street Journal study found that since 2010, the underdog has covered the spread in 59% of his games, while the favorite games he has covered just 50%.
Another reason betting on upsets is so profitable is that it is less risky than betting on favourites. If he picks one of these teams, he is less likely to lose money. In fact, according to another statistic in their article (which looks at both college and professional football), only 3% of the underdogs lost outright during the same period. That means he has only a 1 in 100 chance of losing the game without the underdog covering.
3. Get familiar with the spread
Now that you know how to read the odds and what the spreads look like, let’s take a closer look.
Spreads are another way to bet on sports games. Instead of just betting on who will win or lose, you can also bet on whether they will win more than a certain amount (known as “covering” the spread).
Example: Consider an NFL game between the New England Patriots and the Miami Dolphins. The Patriots have a 6-point advantage over his opponent. So if you bet $100 and win straight (point he is no spread), the payout will be $600 ($100 x 6) if you win. But if you don’t cover your opponent’s scoreline (e.g. Miami he just beaten 38-35), you’re going to lose money because you won’t get any profit from this kind of bet.
4. Learn to read the odds
Odds are always expressed as a ratio. For example, if the odds of winning a bet are 1:2, it means that for every $1 he wagers, he will get $2 back. Odds can also be expressed as positive or negative numbers. If they are positive, your stake will be less than the amount wagered (eg -110). If it’s negative, your bet will pay out more than you bet (eg +120).
Odds represent how much money is at stake for each unit of probability (or “risk”), so for us humans to understand odds more easily, odds must always be integers. it won’t work. This makes sense considering how much profit you can make from betting. Decimals are not necessary when discussing whether someone will win a tennis match against another player ranked higher than them.
5. Don’t Ignore Money Lines
Moneyline is a simple sportsbook strategy where you bet on the team you think will win. Odds are set to -110. This means that if you bet $110 on one team and lose, you will lose $100 in total. On the other hand, if you bet $100 on the same team and instead win (without points), your profit will be $110.
The reason this is so important is that many sportsbooks offer bonuses for betting on specific teams, and those bonuses include a money line (e.g. 50% up to $500). This means that if you have a game where two teams have the same odds but one team has a higher money line than the other and is therefore less risky, it’s not just from a practical point of view, but from an economic point of view. also makes sense!
There are many sportsbook strategies out there, but these 5 can get you started
- don’t bet on favourites
- bet on an upset
- get used to spreads
- Learn to read odds and prices (more on that below)
- Don’t ignore Moneyline, a wager with no point spread or handicap
Conclusion
We hope you found these sportsbook strategy tips helpful.We also wish you good luck in your future betting endeavors! Visit BC.GAME Sportsbook Start your sports betting journey.
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