When it comes to sports betting, the main question that many people want to know is: How much should I win?
What is the break even percentage when betting on NFL games? How about when betting on NBA games? And what about when betting on MLB games?
The short answer is: It depends on how much you wager. If you wager more than you can afford to lose, you are risking more than you are earning. This is why you should always aim to break even or make a profit from your gambling adventures.
How to Break Even When Betting on NFL Games
The break even percentage when betting on NFL games is 33.33%. That means that for every $100 that you lose, you need to wager $133 to make it back. So, if you wager $100 on an NFL game and the team you are rooting for loses, you will still come out ahead by $33 because you avoided losing $167.
The break even percentage when betting on NFL games is higher for more experienced bettors who know where to look for value. For example, a $100 bet on the Detroit Lions at +350 odds (very strong win) would lead to a net gain of $350 if the Lions win. However, a $100 bet on the Green Bay Packers at +275 odds (medium win) would only net you $275 because you would lose $125 in the process. These calculations assume that you used a service that accepts bets below their minimum payout threshold (most sportsbooks do).
How to Break Even When Betting on NBA Games
The break even percentage when betting on NBA games is 40%. This means that for every $100 that you lose, you need to wager $160 to make it back. So, if you wager $100 on an NBA game and the team you are rooting for loses, you will still come out ahead by $40 because you avoided losing $200. However, if the winner is a team you hate, you will lose a net $40 because the final score is not close enough to justify a “home” advantage.
The break even percentage when betting on NBA games is higher for experienced bettors who know where to look for value. For example, a $100 bet on the Boston Celtics at +450 odds (very strong win) would lead to a net gain of $450 if the Celtics win. However, a $100 bet on the Orlando Magic at +350 odds (medium win) would only net you $350 because you would lose $150 in the process. These calculations assume that you used a service that accepts bets below their minimum payout threshold (most sportsbooks do).
How to Break Even When Betting on MLB Games
The break even percentage when betting on MLB games is 50%. This means that for every $100 that you lose, you need to wager $200 to make it back. So, if you wager $100 on an MLB game and the team you are rooting for loses, you will still come out ahead by $50 because you avoided losing $250. However, if the winner is a team you hate, you will lose a net $50 because the final score is not close enough to justify a “home” advantage.
The break even percentage when betting on MLB games is higher for experienced bettors who know where to look for value. For example, a $100 bet on the Arizona Diamondbacks at +350 odds (very strong win) would lead to a net gain of $350 if the Diamondbacks win. However, a $100 bet on the Houston Astros at +275 odds (medium win) would only net you $275 because you would lose $125 in the process. These calculations assume that you used a service that accepts bets below their minimum payout threshold (most sportsbooks do).
When Should You Wager?
Many people who are new to sports betting assume that they should always wager on the favorite. After all, they think that it is safest to bet on the team they love, right? But, this is not always the case. There are instances when it is better to wager on the underdog because they are the ones who have the highest chance of winning. Additionally, some people argue that if you are aiming for a profit, you should always wager on the favorite in order to maximize your winnings because they believe that when betting on the favorite, the spread is more likely to be in your favor. These are the top arguments for wagering on the underdog:
- Underdogs will typically win more games than favorites
- Underdogs have more motivation to win since they are not usually favored
- Underdogs are typically more entertaining to watch because they are more unpredictable
- Underdogs give the illusion of an “easy” win since they give the appearance of being a pushover
- If you are new to betting, start out with small stakes on the underdog since they are more manageable
However, there are instances when you should always wager on the favorite. For example, if you are an avid fan of a particular team, you should always wager on them because their chances of winning are higher. It also makes sense to wager on the favorite if the game is highly anticipated because there is typically more excitement surrounding a game that is highly anticipated. Additionally, if you are aiming for a profit, you should always wager on the favorite because even odds (no spread) are more likely to net you a profit. These are the top arguments for wagering on the favorite:
- You have a clearer view of the game since it is in front of you
- You are more likely to be able to enjoy the game since it is “in plain sight”
- Fixed odds or parlay bets are more manageable for newbies
- You are more likely to be able to enjoy the game since it is easier to follow
- You are more likely to be able to enjoy the game since it is easier to follow
In rare cases, you might consider wagering on a game that is not even close to being decided. For example, if you are on the road and you see that the score is close, you might consider betting on the game even though the score is not yet posted. Additionally, some people like to gamble on games where the outcome is uncertain because it is more exciting to bet on a game that is not yet decided. These are the top arguments for wagering on a non-championship game:
- It is more enjoyable to bet on a game that is still in doubt
- You have more opportunities to make a profit since there are more games to bet on
- It is more exciting to bet on a game where you do not know the outcome
- It is more enjoyable to bet on a game where the outcome is in doubt
As you can see, there are times when it is better to wager on the favorite and times when it is better to wager on the underdog. Ultimately, it depends on what you are looking for. If you want to make a profit, you should always wager on the favorite. If you want to have the highest possible odds of winning, you should always wager on the underdog. However, if you want to have a good time and are not worried about making a profit, you should always wager on the game that you love the most. These were just some of the answers to the frequently asked question: “What is the break even percentage when betting on sports?” As you might have guessed, it depends on how much you wager. If you wager more than you can afford to lose, you are risking more than you are earning. This is why you should always aim to break even or make a profit from your gambling adventures.