Sports betting is a billion-dollar industry, according to the BizEaze Group. And it’s certainly gaining popularity. According to Avantica, a sports data firm, the global sports betting market was valued at US$16.9 billion in 2018 and is projected to hit $26.9billion by the end of this year.
The betting odds are one of the biggest variables involved in any type of wagering. They can either make or break your experience as a sports fan. But, surprisingly, many sports fans don’t really know how to use the odds effectively for their advantage. Here are some tips on how to make the most of the betting odds (in both legal and illegal ways), so you can have the best possible experience while watching your favorite sports team.
Pay Attention To The Spread
You might be familiar with the term ‘spread’ when it comes to football betting. It refers to the point spread, which is the amount by which the sports book bets on the opposing team. The point spread is often printed in sports books and online sportsbooks in the form a – x, where ‘x’ is the point spread. For example, a –2 point spread might mean you have to wager $100 to win $50 on the underdog Trojans.
You need to be aware of the spread when wagering on any sport. Essentially, your goal is to find the best possible odds for your team, so you want to avoid betting on teams with large spreads. Since the spread is printed right next to the odds, it’s also vital that you actually take a look at what the spread is, and whether or not it’s beneficial to you as a sports bettor.
Use The Money You Might Lose On The Spread
One of the biggest misconceptions about betting is that you always have to win or lose the entire amount you bet. In reality, you can often win or lose a smaller amount, and in some cases, you might even break even. When you place a wager on a sporting event, the sportsbook will give you the option of placing either a winning or losing wager. For example, let’s say you’re playing against the spread and you’ve got $100 on the line. If the spread is –5, you’ll have to choose between winning or losing $100. But, if the spread is –10, you’ll have the option of winning or losing $50. In this case, you might want to take the loss, since you can’t risk $100 and lose.
The advantage of this option is that sometimes, the underdog can cover the spread and win. And if that happens, you’ll get your money back with a little bit of profit. But if the spread is heavily in favor of your team, you’re usually better off just putting up your money and taking the win. You can also look at it as a sign you were right and the books were wrong. In any case, using this method can help you get the best possible odds for your team. It’s also beneficial to check out the current line trends before you make a wager so you know what to expect. Maybe you’ll see a lot of people betting on a certain team, which means there’s probably a good chance they’ll cover the spread. Alternatively, maybe the line has moved in the other direction and the underdog has become a popular pick. In this case, it might be a good idea to lay off the bet, since you’ll probably lose your money.
Learn How To Calculate The Over/Under
Most sportsbooks will give you the option of laying either an over or under wager. When you bet on the over, the bookmaker will pay you according to how much they think the score will be. So if they think the final score will be between 34 and 40, they’ll pay out $100 on a $100 over bet. But if they think it’ll be between 28 and 32, they’ll only pay you $50 on a $100 over bet. In this case, you can either win or lose $150, but you can’t determine how much you’ll win or lose until the game ends.
The advantage of this type of bet is that, once the game is finished, you know the amount you will win or lose. Most people, however, consider this type of bet to be more dangerous, because it often ends in a large amount of profit or loss. If you’re looking for an easy way to make money, this is not the type of bet for you. But if you’re looking to make a quick buck and don’t care about whether or not you win or lose, it’s a risk you might be willing to take.
Look At The Trends
We all like to be happy with what we get, but it’s important to be aware of what we don’t have. While sports betting is a relatively new phenomenon, savvy bettors use statistics and facts to make more informed decisions about sports and the odds. For example, say your team is playing on Monday night and they’re heavily favored to win. But, based on the trends, it seems as though they’re more likely to lose. In this case, it might be a good idea to lay off the bet, since you won’t be able to win back what you lost. On the other hand, if they’re a better-than-average team, the odds might be in your favor. You can also look at it as a sign you were right and the books were wrong. In any case, studying trends can help you get an idea of what will happen during a game and make better decisions about your wagering.
Follow The Money
It’s always nice when your gambling experiences pay off. But sometimes, the luck isn’t going your way and you lose a lot of money. One of the best ways for you to improve your odds is to follow the money. When a big spender decides to bet on a particular side, the odds often shift in that direction. For example, if a lot of people are placing bets on the underdog, the odds will likely move in that direction. The problem is, sometimes the big spenders are placing false bets, hoping to trick the sportsbook into thinking they’re backing a certain team. In many cases, these types of bets are completely legal but can lead to severe ramifications if the bookie suspects you of being involved in any way. So, while it might be tempting to try and capitalize on someone else’s good luck, it might not be the best idea. Keep your wagers to yourself and follow the money. This strategy has never failed anyone and it’s always the safest way to go.
Stay Afloat With The What Ifs
As much as we’d like to think we have all the facts, sometimes we don’t. There are just some things we don’t know. When you’re making a wager, it’s important to stay as cool as possible, since many people who bet on sports become emotionally invested in the outcomes of the games. So it’s important to keep all the ‘what ifs’ in your head. For example, what if the team you’re betting on loses by a large margin? Will you be upset? Will it affect your next wager? These are all things you need to keep in mind, so you don’t end up over or under betting on a team you feel passionately about.
Betting on sports is fun and exciting. But it can also be incredibly lucrative. It just depends on how much you know how to use the odds in your favor. By following these tips, you’ll be able to take advantage of the situation and make the most of your betting opportunities. So don’t be afraid to try and bet on sports, even if it’s just for fun. It’s always better to have too much money in your wallet than too little, as long as you know how to manage your finances responsibly. And remember, if you’re ever dishonest with a bookie, you’ll never be able to gamble or do anything else legally. So, as exciting as it is, betting on sports is a form of gambling that you should really only engage in if you’re planning on following the law.