When you place a wager on sports, there are two parts to the wager that you need to be aware of: the bet itself and the scoring system. The first one is pretty self-explanatory, but let’s take a quick detour and discuss the second part, the scoring system.
Point Scoring
Most sports wagering activities follow a point scoring system. Under this system, a team (either one or both) scores a certain number of points and wins the game. For example, in an NFL football game the NFL team will score several points for touchdowns, field goals, and safeties while the visiting team will score some points for kickers and extra points.
The point spread is a common way to determine the “over/under” win total in sports wagering activities. For instance, the over/under on the total number of points scored in an NBA basketball game is typically set at two points, and the payout on a true point spread is either +100% or -100% based on whether the spread is selected or taken respectively. In a traditional parlay, you will get two bets on the game with a 10‐point spread, and the payout is 100% for both bets.
The Half Point
In betting slang, a half point can be referred to as one‐half of a betting point. This is often used in relation to propositions or picks where a win is worth one‐half of a betting point and a loss is worth zero points, or vice versa. For example, a pick in the NBA for the Toronto Raptors where the point spread is two wins a half point is a 2x2WIP (two wins, one‐half point awarded). In a parlay, when you bet on two consecutive games using the same betting point you will win one and a half times your original bet since you made a profit of one and a half betting points in the first place.
The Harder The Better
This saying holds true when talking about sports. The more skill you have, the better you will do. Even though there is a lot to learn, the more you play, the more you will improve. In other words, practice makes perfect.
When it comes to betting on sports, the more you know, the better you will do. Familiarizing yourself with different sports, betting types, and different sportsbooks is very important. Knowing what to look out for and being aware of the kinds of scams and tricks that betting scammers use is also vital. Familiarizing yourself with various social media platforms and learning how to spot and avoid various fraudulent activities is also important. Finally, having a good money management strategy is crucial for any betting enthusiast who wants to keep their bankroll safe and profitable. Knowing how to use stop loss orders, limit orders, and knowing when to get out is very important. Being familiar with various sportsbooks where you can place your wagers is also very important, as is keeping abreast of any new developments and changing trends within the sports industry.
Common Scams
Many sportsbooks and online betting sites are notorious for tricking unsuspecting and unwary sports bettors. The following are some of the more common scams that one should be on the lookout for.
Betting On Your Own Team
It is often said that “homers”, or bettors who bet on their own team, will lose more than they win. This is due to the fact that there is a large amount of people who bet on their favorite team, therefore causing the team to perform better than expected, which results in the homer losing money. This is also known as “The Billy Sims Syndrome” after the former Major League Baseball player who won three World Series rings and four American League Most Valuable Player awards but also lost more than $3 million in his lifetime on NFL football games.
While it is generally accepted that betting on your own team is a losing proposition, there are still a lot of people who do it. One of the reasons for this is because it’s easy to lay down small bets on your own team, especially if you live in Canada where professional sports are popular. On the opposite end of the spectrum, it’s very difficult for someone who bets against their own team to get paid off since they typically have to wait until the team wins before they can cash out. For this reason, it’s usually best for the underdog to avoid this form of wagering unless they have limited funds to invest.
Getting Caught In A Network Match
Another common scam in online betting is network matches, or bets where you match wits with other people who share your interest in the same sport. Typically, these matches are between people from the United States and Europe since these are the areas where sportsbooks are most active. Getting caught in a network match is usually fatal since you will lose all of your money regardless of whether your team wins or loses. This is because when you are engaged in a network match, your stakes will be matched by the bookmaker and you will not come out ahead even if your team wins the game.
Fakescreen Or Fixed Match Scams
Sometimes, a bookmaker will try to pull the wool over the eyes of a bettor by offering them what seems to be a perfectly good game. However, upon closer inspection, it turns out that the game was fixed, or the teams were actually paired beforehand. Getting scammed by fakescreen or fixed match scams is really easy to do if you are not careful. If you have a hunch that a particular game is fixed, simply look for the odds of the game and see whether they seem to be way off. If so, then it’s most likely fixed. For this reason, one should be wary of any game where the odds seem to be way off and should question whether or not it is a fixed match.
Protecting Your Bankroll
Bettors who want to keep their bankroll safe and profitable will do everything in their power to protect it. If you want to keep your bankroll safe, you need to take certain actions, which we will discuss in detail below.
The first step towards becoming a profitable bettor is by familiarizing yourself with different betting strategies and money management methods. Once you have established a good foundation of knowledge and understanding of the betting process, you can begin to implement these methods into your betting routine. This will help you identify weaknesses in your betting style and help you correct them. In addition, you should always have a backup plan in case something goes wrong, and keeping a level head during times of stress is crucial for avoiding future losses. Finally, being selective about which sports you bet on and being aware of the various scams and tricks that can be used against you are vital for keeping your bankroll safe and profitable.
Sports Betting Is An Investment
Unlike many other wagering activities, sports betting is not treated as a leisure activity. Instead, it’s primarily seen as a form of investment. Just like any other type of investment, one needs to put in the time and the learning curve to succeed in sports betting. In fact, many successful sports bettors will tell you that winning at sports betting is much easier than winning at the casino. It’s almost like you have the mathematical advantage over the house since all of the probability is on your side. This is mainly because there are more people willing to bet on sporting events than there are people willing to play poker or blackjack for money, making sports betting a much more popular option. Like any other type of investment, successful sports betting requires an adequate amount of effort and research in order to make money consistently and profitably.