How to Win at Sports Betting
Whether you love sports or hate them, there’s no denying the industry is rolling in money. Just watch any sporting event and you’ll see commercials for betting apps whose marketing budgets would make your retirement account look like chump change. The problem with this is that it’s making the middle class broke and the lower class even more broke than they already are, thanks to the addictive nature of gambling combined with peer pressure from their sports-loving friend groups and odds stacked against them by professional bookies.
Unlike betting in casinos or the lottery, where a player’s luck and skill play a role, sports bettors think they can create an edge because they study stats, follow analytics, listen to podcasts and get picks from trusted experts. But that’s not always enough to win.
It’s no secret that the vast majority of people who place bets lose. The reason for this is that the vig (a fee charged by sportsbooks to cover their operating costs) is almost impossible to overcome, especially when bettors aren’t using a mathematically proven profitable strategy. Those who do use a profitable strategy, however, can enjoy consistent profits and minimize their losses.
The first thing you need to do to be successful in sports betting is open a specific bank account to be used for placing bets. This will help you keep track of your bets and avoid over-betting. The next step is to set a realistic budget for your wagers and stick to it. You’ll also want to make sure you’re limiting your losses by avoiding chasing them, as this will quickly drain your funds.
Once you’ve determined how much you can spend per game, start by focusing on games where the over/under is large (i.e. over 7.5 runs). This type of bet is generally based on the assumption that the team that’s the favorite will score more than the underdog, so you’ll have a good chance of winning if you can find value in this market.
You can then expand your wagers to include other types of bets, such as prop bets and futures. A prop bet is a wager on an event that’s not directly related to the outcome of a game, such as what color lipstick Taylor Swift will wear to the stadium or whether Kelce will propose after the game. These bets often have higher payouts, but you’ll need to do a lot of research to be able to identify them.
Finally, remember to take advantage of free bets and promotions offered by sportsbooks. These can be a great way to test out a new betting site without risking any of your own money. Just be sure to read the terms and conditions carefully before you make a bet, and never bet more than you can afford to lose.