Well known for his bold and sometimes crazy predictions, John Paul Wight has become notorious for backing up his claims with large wagers ($100,000 plus) on various sporting events.
Just take a glance at his record.
In 2014, Wight became the first person in history to bet $100,000 on Tiger Woods winning the PGA Championship. He risked $100,000 on a single event that Woods ultimately won by four strokes.
Last year, Wight put down $70,000 on Justin Timberlake winning the Grammy Awards, $50,000 on the Chicago Cubs to win the World Series, and $30,000 on Stephen Curry becoming the first unanimous MVP in the history of the NBA.
It is no surprise that many consider Wight to be a genius when it comes to sports betting.
In this article, we’ll explore the meaning of $700 and how you can use it to make extra money at the betting counter.
The Importance of Odds And Line Movement
Before we begin, it is important to understand the concept of variance.
All sportsbooks, and indeed all betting shops, offer odds on sporting events.
However, these odds can vary greatly from book to book and, as a result, may not provide a good enough gauge to use when placing a wager.
For example, if you visit a sportsbook and place a wager on the New York Jets +7.5 to win the Super Bowl, the lines will move in favor of your bet as soon as you place it.
However, if you visit the same sportsbook at a later date and place a similar wager but on the Atlanta Falcons -7, the lines will have moved in favor of taking the other side.
The reason behind this is simple: the sportsbook is trying to ensure that they make as much money as possible by taking big bets and getting paid when the lines move their direction.
As a result, if you really want to maximize your profits from sports betting, you need to make sure that you’re always getting the best odds available.
How Do I Calculate The Best Odds Available?
To get the best odds available, you need to consider a few factors.
Firstly, you need to find out what format the given event is in (e.g. NFL, NBA, NCAAF) to find the proper odds for that event.
Secondly, you need to check the betting markets for that event to see where the public opinion is (e.g. if there’s a large amount of money on New York Jets win, then the public probably thinks that they have a good chance of winning the Super Bowl).
Lastly, you need to check the history of the team or player (e.g. if Tiger Woods has never won a major golf tournament but you checked the betting markets and think that he’ll pick up a win this year, then you might consider betting on Woods).
With the information above, it’s easy enough to find the best odds available for any sport and event.
How Much Does It Cost To Place A Wagering On A Single Event?
As mentioned above, all sportsbooks and betting shops charge a small fee for placing a wager on a single sports event.
However, this is usually not very expensive (less than $10), and you’ll only need to pay once the lines have settled after the event (generally several hours after the final whistle).
What Is The Difference Between A Tear-Down Wagering, A Win-Wager, And A Place-Wager?
If you’re not familiar with the differences, a tear-down wager is where you lay out money at a betting shop or online sportsbook to receive odds that are decreasing in your favor as the game approaches.
You’re essentially betting that the odds of your team losing will go up as the game draws closer.
A win-wager is where you lay out money at a betting shop or online sportsbook for what is essentially a coin flip (50-50).
If you think that your team will win the game, you’re backing them to win. If you think that the other team will win, then you’re backing them to lose. Either way, you’re guaranteed to make money.
A place-wager is where you lay out money at a betting shop or online sportsbook for what is essentially an honest bet.
In this type of wager, you’re not necessarily backing a winner or loser, but you’re putting your money on the table to support a certain team or player. For example, if you think that the New York Jets will win the Super Bowl, you might put down $10 or $20 on them.
As you might imagine, there are many advantages to putting down a wager on a sporting event.
But perhaps the biggest advantage is that it’s easy to put a stop to a losing wager. If you think that the Detroit Lions will lose the game, you might want to reevaluate your decision to wager on them.
Where Can I Find The Best Sportsbooks?
Now that you have a good idea of how to find the best odds available for any given event, it’s time to find a book willing to take your wager.
The best way to do this is to use a specialized website that gathers together all the best offers from different sportsbooks and presents them in one place.
If you want to place a wager on the New York Jets, simply enter the team’s name in the search bar and the best offers will appear.
Visit BetOnline.com to get the best New York Jets betting offer from multiple sportsbooks. By comparison, if you wanted to place a wager on the Atlanta Falcons, you would have to search for Atlanta Falcons or visit the website of a single book to get their best offer.
Once you found the best odds for the event you wish to wager on, it’s time to move ahead with your planning.
What Is The Difference In Sportsbook Bonuses And Wagering Benefits?
Most online sportsbooks offer additional benefits to their users.
These benefits range from money-back guarantees to free bets and access to exclusive bonuses.
When a customer signs up for a new account with a sportsbook, he typically receives a welcome bonus.
The bonus money is generally in the form of free bets that must be wagered within a certain time frame (e.g. two weeks). So, in the example above, the customer will receive $100 in free bets from their book.
However, those who use their free bets wisely may be able to keep the bonus money for later use.
How Long Does It Take For My Bettor’s Account To Become Activated?
As noted, once you made the initial payment and filled out all the required information, you’ll receive an email shortly after from firstname.lastname@example.org.
This is the email that you will need to confirm your identity to begin using the service. You’ll also need to answer three questions to qualify for a bonus at the online sportsbook.
Once you did that, it’s just a matter of waiting for the funds to be credited to your account.
Can I Place Multiple Sportsbook Wagers At Once?
If you’re looking to place a wager on several different events at once, you can create separate bettors accounts at different online sportsbooks.
In one account, you can place a wager on the New York Jets +7.5 to win the Super Bowl. In another account, you can put down a similar bet but on the Atlanta Falcons -7.
Since the two accounts are separate, you can ensure that you’re getting the best odds available by placing a wager on each event separately.