Archive for May, 2010
The 3 Basic Principles of Sports Betting
Many players especially gamblers focus on games, strategies and betting systems that will be profitable for them. After all, it’s through a good betting system that one can make real money. The same thing applies for the so called money or finance management. This only means that if you don’t know how to manage your finance, there is no chance for you to enjoy the benefits of sports betting. Sport betting is similar to gambling although there are some people who claim that it is only a hobby turned into a viable and legitimate investment.
In the world of sports betting, many experienced “sports investors” use the term money management and risk management interchangeably. What are really these terms and how are they related to sports betting? Since you are betting your money here, you need to manage your risk or manage your money and the main goal should be to preserve your hard-earned money or capital as well as to minimize your chances for loss. In order to reach these goals, there are 3 basic principles of sports betting that many sports bettors observe and these 3 principles are discussed in this article:
• Flat Betting
This betting system is one of the most popular sports betting systems practiced by many sports bettors. The concept behind this is to bet the same amount of money for each game or sports played. However, there are some sports bettors who chase or increase the size of their bet based on the last bet they made and this is not recommended since betting on sports is also risky. If you are a new sports bettor, you have probably heard about some bettors talking about various systems that require an increase in the bet size because of the assumption that you are going to win in the future. These systems do not really work because eventually, a bad streak may occur and when you are recklessly betting a large amount, it would be impossible to recoup losses.
• Unit Size
The next principle is to identify what type of investor you want to be. Do you want to be an aggressive or conservative sports investor? Are you an experienced sports bettor or a beginner? How you identify yourself as an investor will help you determine the size of your bet. This is called the unit size. Typically, the safe unit size should be around 1% to 3% of the bettor’s bankroll. Beginners also called the conservative sports investors should only bet around 1% to 2% on each play while aggressive or experienced investors are confident enough to place around 3% bet on each play. If you want to stay on the safe side, you should only bet around 2%. You would probably ask about higher bets. Why can’t you bet around 4 or 5%? This is simply because of the risk of ruin and streaks. You don’t want to lose a large of amount of money, too large that could cut your bank roll on bets in half or sometime even worse.
• Risk Capital and Bankroll
Many casual bettors feel that they are already on their high end when they bet within the range discussed above. However, this is only because the true bankroll of many sports bettors is usually higher than the amount of money they have in their account. The principle here is that they can always add some more account aside from what they normally have in their account. For experienced betters, they make sure that they know how much money they should have in their bankroll in order to preserve their capital from the risk of ruin.
Sport betting is such a good investment especially that it does not require any special skills and knowledge unlike any other form of investment that you really have to invest your time and effort. However, there are fundamental principles that any sports better should learn and understand and like any other investment, the goal should be to gain profit rather than losses.
Sports Betting Tips – Fading the Public
Whether you’ve been around the sports betting game for a while, or are new and have been following the advice found on this site, chances are you’ve been to sites like Covers.com while doing research on upcoming games. Chances are you’ve also noticed the little “consensus” tidbit next to each game, telling you which team the public thinks will win. You may see that a team has a 70% public opinion and feel like that might be a pretty good bet for you to make. While nothing is ever certain in the world of sports betting, this feeling is generally incorrect.
If the Public Always Won…
One of the most important concepts to keep in mind when betting on sports is this: if the public won more than they lost, sports books would cease to exist. That is simplifying things a little, of course, but generally speaking that is a true statement. Casinos and sport books are in business to make money–lots of money. If they are losing money in a particular area, they will either change the rules or stop offering it entirely. Since the world of online sport books is alive and thriving, it is then safe to assume that they are making money and that, over the long term, the general public loses their money.
I’ve been telling people to subscribe to the theory of reverse public opinion for years now. As is the case with a lot of the advice I’ve offered here at SportBooksReview, I’m not suggesting that people blindly bet against the team with higher public support every night–just keep it in mind when doing your research. There are some situations where observing the public consensus and comparing it to line movement can be very eye-opening, and these are the situations where you can pounce.
Public Consensus and Line Movement
As we discussed in our Line Movement article, there are a number of factors that could cause sport books to move the line. One such factor is one team getting decidedly more money wagered on it than the other, creating a scenario where the books would lose a large amount of money if one team wins. Books would prefer to have a nice, even amount of money bet on both sides of a game, so that no matter which team wins, they’ll come out on top due to the juice (newbies: betting $110 to win $100, the $10 is the juice). This is why it’s a good idea to take a quick peek at the consensus percentages along with the line movement for the games you want to bet on–there can sometimes be some very useful hidden information to give you an advantage.
When doing your research, if you happen to see a game where the public is very heavily betting on one team, say 70% or higher, yet the line did not move from it’s original number, then you have to ask yourself why that is. If the public is betting most of their money on a team, but the books don’t move the number to attract betters for the other team, then it’s telling you something. Either the books are confident that the public will lose, or the big-money sharp betters have already made their bets on the other team. Either way, this is a major red flag. Again, don’t blindly bet your money on this strategy, but there will be situations where these numbers are too strong to ignore.
Summary
Generally speaking, I like fading the public–especially when there is a strong public consensus betting on the underdog in a game. As you surely already know, the common theme of my articles is research–we’re talking about your money here, so it’s extremely important that you make every effort to find an advantage before making your bet. As is the case with a lot of my advice, this isn’t meant to be a one-size-fits-all strategy, but part of a larger overall strategy of doing your homework and ultimately finding solid money-making opportunities. If you follow the advice I’ve offered in this article and combine it with some of my other strategies, you will win money–the only question is: how much?
Best of luck, and please gamble responsibly!
Profitable Sports Betting Principles
Sports betting isn’t all luck and losing. There are many people out there that make a nice income from placing wagers on sporting events worldwide. Though many people lose a lot of money betting online, you don’t have to be like them. By following a few basic principles you can profit by betting responsibly on sports.
You first want to set yourself a budget for your sports betting venture. This budget, called your bankroll, is an amount of money that won’t affect your living status if completely lost – after all, not everyone can make winning picks. Your bankroll must be separate from all living expenses such as mortgage, rent, utilities bills, etc.
After you have determined your bankroll, you need to decide how much you will be wagering on each bet that you make. The key is to bet the same amount on each game. The amount that you place on each game is your betting unit. To determine your unit, you first must decide how conservative or aggressive you plan to be. The typical amount of unit is five percent, but some people make it 2.5 to 10 percent. This all depends on your bankroll size and your wagering temperament.
Your unit is the key to minimizing your risk while attempting to maximize your profits. The downfall of many sports gamblers is that they are undisciplined and place wagers of multiple sizes. This wagering method isn’t the best strategy because you are losing more money when the big bets lose because of the juice. The smaller bets might either pay for the juice or only some of the juice. This is why some people can have a winning percentage of 57 to 60 percent and still lose. By placing the same amount on each game you minimize your loses. Though you might like one wager a little more than another, you don’t want show that with your money.
When placing your bets, you only want to place three to four bets a day, which should be your strongest plays. Another principle is to never risk more than half of your bankroll at any one time. You always want to provide yourself enough ammo to fight back after a bad day or days of sports wagering.
Before you place your wagers, you must handicap your games. There are handicappers that put 20 to 40+ hours a week researching their picks. There are a multitude of website on the internet to find the stats and news. Besides, the typical sports news sites, sports betting forums are a great resource. These communities allow you to discuss your thoughts and allow other handicappers to provide other insight. There might be a stat or piece of news that you missed during your handicapping. The key to handicapping games is to piece all the information you can find to make an educated decision before placing your wagers.
Not everyone can make winning picks consistently and no one can teach you how to make winning picks. But if you follow these principles and make winning picks, you can be a profitable gambler by hitting 57 to 60 percent of your picks and consistently request payouts from your online sportsbook.
The Importance of Choosing the Right Sports Betting Website
You’ve probably heard of betting and said: “that’s nothing for me, all they want is my money”. You would be right in having that attitude as a general starting point whenever you encounter possible scams as well. However; there are of course a few honest sites or companies that specialize in gambling as a business. These are the companies you want to get in touch with as should you decide to to have a go at the big money for relatively low costs. For example: you’ve surely bought a lottery ticket once or twice? Well, this is no more of a gamble than that. They all involve risks and a chance of a payoff. The only difference is the odds. The aforementioned honest companies can help you see what these odds are or sometimes even improve them.
How to separate the good from the bad
There are a few ways to detect a phony site or betting tips. Regardless if it’s about football or basketball or anything you could imagine. First of all: if you see a ton of advertising on the betting site then it’s almost certainly a fake. All they are interested in is money after all; so they will most assuredly have sold pieces of their website to hold advertisements. These advertising scam-sites even advertise themselves sometimes. They could have a category list that reads: “Free football betting tips!”, “Free basketball betting tips!” and so forth. All they would lead to is a form for creating an account on their website at a monthly cost. Whereas the real sites acknowledge and respect the intelligence of everyone and thus only give real advice. Pieces of vital information that have changed the odds of a sporting event. Betting tips without the needless and shameful scam attempts. Should you happen upon one of the good sites then the advertising would be a lot less flamboyant.
What to do when you’ve found the good
When you’ve located a good honest site and feel content in trusting their betting tips, be it betting tips of football or any given sport, then make sure there are no hidden fees. After that make sure that all you get is the content you’re after. It would be rather abysmal should you walk away from that site with more betting tips than you can afford or with a full account on the site. If the site however fulfills all these criterias then by all means proceed; this could be your future pot of gold! Sports betting that fill your wallet instead of draining it. Advice that benefits your knowledge instead of limiting it. The key to easy wealth.
Sports Betting – Quick Off the Mark?
Sports were started way back on centuries. Countless remarkable people and their discoveries about different kinds of sports were written on the book while some have been untold and forgotten. Several versions of it were improved, simplified and recreated from its origin while some stayed the way it was before and left untouched. Evolution of sports is fast like the wind that just surpassed on the field.
In a world where high and new technologies are present, computers were born and machines were created, all things seem to be easy for people to hand. Even sports don’t want to be left the way it used to be. It is asking for endless improvement and seeking to be upgraded for its new features. It goes continuously on the water, letting itself to flow no matter where it leads. “Online betting” were produced. It is an agreement between two parties betting a certain amount of money for stake online. All you need to have is a wireless mobile or computer with an internet connection, money to bet, card for verification, to register and open the account, follow rules and regulations and do what the site asked u to do.
It was made for people to have an easy access with the game, updating them the latest trend in place and helps minimized the effort, money and time the customer should probably be using on going to random place just to bet. Site of this kind were designed to ensure and give their clients the satisfaction they are looking for.
Usual betting sports that you will encounter online are basketball, bowling, boxing, golf, equestrian, ice hockey, football, soccer, tennis, and F1 race.