Sports betting can be a challenging type of betting and despite its apparently seeming lack of strategy and absolute reliance on any knowledge of the event, the truth is, good sports betting really relies on a large amount of strategy which is required to win. (Sports betting strategies). The biggest and most iimportant methods include a close analysis of the information upon which a good judgment is to be based and after which the bet must be placed. A winning strategy must have these factors included:
1. The bid amount
2. The kind of bet
3. The offer odds
Sportsbooks in the US and Bookmakers in UK are entities that take sports bets. The bets can be placed predicting the finishing game results of many sporting events like Baseball, Snooker, Basketball, Hockey, Soccer, Football, Tennis and hundreds of sports. Here are the most basic definitions you must be sure you are familiar with: a sportsbook is the one who accepts the sports bet. An oddsmaker is the one that sets the odds of the bet.
Betting the Odds
Before you place a bet, you must first pick the type of bet and the amount you will wager. This usually depends based upon the odds that are currently being offered. Before you go ahead and place the bet, you must carefully crutinize the range of all the available odds.
For the bet to be worthwile, the odds should be in a ratio of at least 2:1. Also take into account the amount being given by way of commission to the sports-book. Ideally this should be a small percentage of the total value of the odds.
Given below is an explaination of some common kinds of bets:
1. Single or Straight Bet: This is betting in its most basic form and allows you to the option of betting at given odds, upon a winner.
2. Point Spread: By betting this type of bet, you can bet on one of two selections that have been equated through the allocation of suitable points. In the Point Spread, the number of allocated points are presented with a + sign for the favorable side and a – sign for the underdog. In order for the better to win, when the favored team must win by more than the Point Spread. On the flip side, if a bet has been placed on the underdog, that team has to lose by less than the Point Spread for the better to win.
3. Buy Points: This kind of bet involves moving the Point Spread positively, by paying a price.
4. The Moneyline: This kind of bet is simply on who will win. It establishes the odds for each side but is the opposite of the Point Spread, with a – sign standing for the favorite and the + sign for the underdog.
5. Total Bet: This type of bet is similiar to point spread bets, because the better bets on the total points scored.
6. Over/ Under: This is a bet as per which the number of points scored by the teams in any game will be beyond/ over OR below/ under the total set by the oddsmaker.
7. Parlay of Accumulator: This type of bet is betting on multiple sporting events in the hopes that will pay off big if all win. The picks are made in relation to the point spread. If just one event does not win or draw, the better loses the entire bet. Huge amounts can be made through parlay betting, in the event of a win.
8. Teaser: A teaser is similar to a parlay, but it has the option of adding or taking off points from one or more than one Spread bets. The odds depend upon the number of points the spread is moved as well as the number of teams that are combined to form the teaser.
9. Futures: This type of bet is on who will win the championship in the event that there are more than two possible teams to bet on. Substantial variations between sportbooks exist in house edge on futures.
10. Buying Half a Point: With this, the straight bet player gets the option of moving the point spread half point to his advantage. The best time to buy a half point is when one team is favored by 2.5, 3, 6.5 or 7 in football. This is mostly due to the fact that several games end in a 3 or 7 point difference. The extra half point may end up turning a loss to a draw or a draw to a win.
Out of all of the different kinds of bets, there are 3 that are used simply because they are easy to win and have a good chance of winning. These bets are the Straight bet, the Doubles and the Future.
Here are a some Betting tips that will help you to place the Best Bets and push you towards a big win, they are:
1. Always make an intelligent analysis of the odds and the offer of the bet.
2. For the simple bet, stick to the Straight bet because it is non-complicated and has good winning prospects.
3. Bet wisely by keeping your selections limited. Also, limit the amount of influence in your betting. If you are a fan of a team try to exclude the effect of that favoritism when placing bets.
4. One of the highest paying bets is the ‘Future’ bet but will only pay off if you know a lot about the sport being played and about the players.
5. By making sure your betting is systematic and analytical, one can greatly improve your judgmental ability.
6. Do not rebet with your winnings immediately. If you do not follow the standard rule of 50%, make sure you least put some of your winnings back into your pocket.
7. When choosing a sportsbook, make sure your sportsbook is a member of a known Gambling Association, makes a quick payment and is easily accessible. Consider carefully about matters pertaining to disputes.
8. Train yourself to look for value odds – you will become entirely efficient at this soon, with practice and time.
9. If you are trying to decide between two choices seeming equivalent, trust your judgment and not that of those who have bet before you. In this case, choose a selection with a little higher risk so as to hike up the winnings.
10. Bet on games and leagues where the sportsbook’s commission is the least. This is often in the sport or sports with which that sportsbook does most of its business, and is most likely the most efficient in that area.
Now that you have a better handle on sports betting, you may be considering using a handicap sport better. You can read a review on one of the best handicaps on the web right here: John Morrison’s Daily Picks