Sports betting can be an exciting way to make money while cheering on your favorite teams. Unfortunately, without a good sports betting strategy, you're sure to lose money on your bets. In fact, the sports betting world already has a term for those who bet without a strategy - squares - and it is these people from whom the sports book reap the majority of their profits. If you want to know how to bet on sport events, here are some tips to help you avoid being a square.
1. Do your homework. If you're the kind of person who can quote statistics off the top off his head for his favorite players, then you may be the ideal candidate to make money from sports betting. But statistics are not the only factor to consider when predicting which team will emerge triumphant from a particular game. You also have to consider a wealth of other factors such as the health and personal conditions of the player and the coach and the financial condition of the team and its owner. In short, you have to familiarize yourself with everything that could influence the performance of the teams.
2. Shop for the best line. A serious sports bettor usually maintains accounts at two or more sports books, and makes his bet at the one that offers the best spread or the best price for a particular spread. Shopping the lines can make you more money over the course of a season than if you simply stuck with one sports book.
3. Manage your money responsibly. The cardinal rule of gambling is always to bet only with money that you can afford to lose without compromising what you need for your basic needs. So you have to set a bankroll and stop once it's depleted. The rule of thumb is only to make bets using a certain percentage of your bankroll, i.e. 2% to 5 percent. So if your bankroll for the week is $1,000, you should not be making bets higher than $50. And if you run into a losing streak, never start making bigger bets in the hope that you will make up for what you've lost.
1. Do your homework. If you're the kind of person who can quote statistics off the top off his head for his favorite players, then you may be the ideal candidate to make money from sports betting. But statistics are not the only factor to consider when predicting which team will emerge triumphant from a particular game. You also have to consider a wealth of other factors such as the health and personal conditions of the player and the coach and the financial condition of the team and its owner. In short, you have to familiarize yourself with everything that could influence the performance of the teams.
2. Shop for the best line. A serious sports bettor usually maintains accounts at two or more sports books, and makes his bet at the one that offers the best spread or the best price for a particular spread. Shopping the lines can make you more money over the course of a season than if you simply stuck with one sports book.
3. Manage your money responsibly. The cardinal rule of gambling is always to bet only with money that you can afford to lose without compromising what you need for your basic needs. So you have to set a bankroll and stop once it's depleted. The rule of thumb is only to make bets using a certain percentage of your bankroll, i.e. 2% to 5 percent. So if your bankroll for the week is $1,000, you should not be making bets higher than $50. And if you run into a losing streak, never start making bigger bets in the hope that you will make up for what you've lost.
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