You might be familiar with the phrase “the 1%.” It refers to the wealthy, upper-crust class that reigns supreme in many industries, including banking, fashion, and real estate. When it comes to sports betting, however, the 1% definitely isn’t what you’d call “common folk.” It’s a world of difference between the haves and the have-nots when it comes to betting on sports.
To understand why only 1% of people win at sports betting, you have to go back to the basics of probability. There are four basic rules that determine whether or not you’ll walk away a big winner or a small one when taking a bet:
1. You Must Bet On An Even Number of Wins
Even numbers are magic numbers when you’re dealing with probability. This means that the odds of an even number coming up are 1 in 2. When it comes to basketball odds, you’ll often find yourself betting on the over or under for games that feature an even number of teams — like the Golden State Warriors vs. the Los Angeles Lakers.
However, sometimes an odd number of teams will play. In those situations, you’ll need to decide whether or not to bet on the under or the over. If you don’t know what odd and even numbers are, don’t worry — chances are you’ll never need to know. But it’s always a good idea to be aware of them.
2. You Must Use Odds From A Trusted Source
Anyone who offers odds at sportsbooks is considered to be a “bookmaker.” They’re just like any other type of business — they need to make money to stay in business. A bookmaker’s goal is to get as many people to bet on their side as possible, so they make a great deal when it comes to taking bets. But just because they’re motivated to make money doesn’t mean that their odds are necessarily good.
When you’re looking to place a bet on a sporting event, it’s important to make sure that you’re using odds from a reliable source. This means finding a sportsbook that is properly licensed, has a good reputation, and gives you the feeling that they’re trying to treat you right. You’ll probably want to avoid any sportsbook that doesn’t have brick and mortar locations, as well as those that are based offshore or in a different country. If you’re not familiar with the term “sportsbook,” it’s basically your own personal betting shop, located either online or in a physical sportsbook. You can get all of the standard sportsbook offers, like point spreads, totals, and over/under betting — but you’ll mostly need to make deposits and withdrawals using a credit card.
3. You Must Place Smaller Stakes On Longer Odds
It’s important to keep in mind that you’ll often find yourself competing with bookmakers for your bets. This is why it’s important to place smaller stakes on longer odds. You have to keep in mind, however, that this also makes you more vulnerable to manipulation. A good bookmaker is going to try and get you to place bigger and bigger bets as time goes on. This gets them money faster than they could make it back on their bets. So, if you have an even chance of winning, why not bet the maximum amount? Just make sure that you keep enough money left over so that you can win at least a little bit.
4. You Must Bet On The Better Team
Last but not least, we have the 4-1-2-1 rule. This rule states that in order to win at sports betting, you need to bet on the better team. This might seem like an obvious rule to follow, but in practice, it’s the 2% of people who think this way that win at sports betting. As a general rule, you want to avoid betting on the better team if they are playing against the worse team. This guarantees that you’ll lose whatever money you bet on them.
When you put all of these rules together, it makes for an easy-to-follow formula for betting success:
- 1. You must bet on an even number of wins
- 2. You must use odds from a trusted source
- 3. You must place smaller stakes on longer odds
- 4. You must bet on the better team
Let’s be honest, following these four rules isn’t going to guarantee that you’ll beat the bookmaker at their own game, but it’s going to give you a fighting chance. And maybe, just maybe, you’ll walk away with some money in your wallet.
So, next time you’re searching for a betting site, keep these rules in mind and you’re sure to have better luck at sports betting than you’d have otherwise.