Sports betting is becoming increasingly popular and legal in many parts of the world. And while there is no denying that people win millions from betting on sports, the truth is that beating the house is not easy. However, this does not mean you should give up and not chase that huge payday. Instead, you should consider some strategies to help improve your winning chance. And observing what successful sports punters do can provide you with crucial information for improving your game and putting you on the path to success.
This article will discuss some sports betting tips to help you become a better and more successful sports punter. This way, you’ll have a fair chance of beating the house and enjoying an even better gambling experience. So with that said, let’s dive right in.
Shop for the Best Odds
Odds matter greatly in sports betting, and it is easy to see why. The odds of an event directly influence the amount you can expect to win. This is because the odds are multiplied by the wager amount. So as a punter looking to win more, you should shop around for the best odds. In fact, line shopping is one of the basic skills of professional punters since they know that the higher the odds, the better. Thankfully, sports betting sites like Sportsbet.io are well-known for offering great odds for different sports and events, including football, American football, basketball, and so on. Besides, you may even be able to enjoy boosted odds for some events.
But one thing you should factor in alongside online shopping is the available markets. Don’t just compare the general odds of the sporting events you want to bet on at different sportsbooks. Dig a little deeper and check the odds for the specific market you want. That way, you won’t be forced to go for only common markets like Moneylines and under/overs when you want something entirely different.
Understand Your Bet’s Break-Even Rate
As a punter, you should know your break-even rate relative to your betting budget. But what is the break-even rate? It simply means the rate at which you have to win to break even in the long run. You can think of it as a way to keep your risk in check so you don’t blow your bankroll and go on a losing streak.
To help better understand how the break-even rate works, let’s expand on the topic further. In sports betting, odds are used to represent risk value, at least to some extent. This is why a sportsbook will offer lower odds to a favorite team and much higher odds to an underdog. Ideally, if you keep betting on the underdog, your risk level will become too high and you may lose your bankroll. However, this does not mean you cannot lose continuously by betting on a favorite team, but the risk and possibility are lower.
So how, then, does break even apply? Well, if you bet $50 on an underdog with higher odds and $25 on a favorite with lesser odds, your bankroll may suffer if the underdog loses. This is because the winnings from the favorite may not be able to cover the loss, thus offering no break even. But if we switch things around and you bet $50 on the favorite and $25 on the underdog, you may just be able to break even if the favorite loses and the underdog wins. But for this to make sense, you must shop for the best odds in both situations. Check out Sportsbet.io!
Know the Value of Half Points
Half points are available for some markets, like point spreads and under/overs, and they can prove useful to help you win. When you place a bet on a team with a +3 point spread and the team loses by 3 points, it may end up as a push, where you receive your wager back, or as a loss, depending on the sportsbook’s rules. However, if the point spread is at +3.5, you win the bet even if the team loses by 3 points. See how important a half point is?
Understanding and taking advantage of this difference in your bets can give you the edge you need to win more bets. And if you can get spreads offered within a range, the better. For instance, it is technically easier to bet on a point spread of -4 to -6.5 than a point spread of -6, as you’ll get paid for the former even if your team wins by a 5-point difference.
Favor Singles Over Parlays
Parlays are a great betting option, and there is no denying that. With parlays, you can take advantage of the multiplication factor of odds, leading to increased potential payouts. However, the truth is that it is not always easy to predict games correctly. And the more games you predict, the more difficult it becomes. There are cases of punters who play parlays with 15 events, and 14 of the events win while one loses. The result is that the bet loses according to parlay rules.
So whenever possible, you should favor placing bets on a single event instead of combining them to form a parlay. You may also want to consider parlays when using risk-free bets, as you are guaranteed to get your wager back even if the bet loses.
Place Your Bets Early
Another sports betting tip that can make a difference is placing bets early. As a standard, all markets start with an opening line, and their odds are usually higher than when the lines are closing. And as the game day gets nearer, factors like transfers, injury reports, betting action, and so on cause sportsbooks to adjust their prices accordingly. But these movements won’t affect bets placed earlier in any way.
Take Advantage of Bonuses
Bonuses can do the trick to helping players improve their chances of winning. This is because bonuses help boost players’ bankrolls and allow them to place more bets. And the more reasonable bets you place, the higher the chance that you can win. But when using sports betting bonuses, you should pay attention to the applicable terms and conditions. Whenever possible, go for bonuses and promotions with no wagering requirements. But if there is a wagering requirement, make sure it is low. There is almost no usefulness in claiming a sports match bonus with a 70x rollover requirement, as you will almost certainly be unable to fulfill the requirement. Go to Sportsbet.io and check out what you can bet on now!