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Beginners Tips on Sports Betting
The goal of this article is to give Beginners Tips on Sports Betting so you can feel confident in the decisions you’re making when you’re putting money on the line.
Patience
Patience is immensely important to succeeding in Sports Betting. There will be some days that the Sports Betting Picks don’t work out. Not pressing or doing anything hastily on those days goes a long way toward winning at the end of the year. There will also be some days that don’t have many bets at all. You need to accept that and not bet games just to get more action.
Proper Bankroll Management
It’s imperative to have correct bankroll management. This can vary slightly person to person based on a few variables however around 100 units is correct. It doesn’t matter how much money is in your bankroll as long as you are betting the correct amount of units. The units that we will be attributing to each bet are based off of having the correct bankroll and the correct bankroll management. Some people will have a unit equal to $10, and others will equal $1,000, but keeping everything on a unit basis will ensure that your bankroll management is done in the best way possible.
Favorites and Underdogs
When oddsmakers release a line to bet on, there is a “favorite” and an “underdog.” The favorite is the team that is expected to win and will have a minus sign (-) next to their name, and underdog the team that is expected to lose and will subsequently have a plus sign (+) next to their name.
In some situations oddsmakers can’t decide who they think will win the game and leave it as a pick’em, meaning there is no favorite or underdog.
The Spread
In terms of favorites and underdogs, there is a spread on each game that will accompany the minus (-) or plus (+) sign next to each teams name. These numbers indicate the margin or victory that each team needs to accomplish.
If a Favorite has a -6 next to their name, they need to win by at least 7 to “cover” the spread. If an Underdog has a +6 next to their name they need to lose by 5 or less. If the spread is a whole number, like 6, and either side lands on that exact number, favorite wins by 6 or underdog loses by 6, its a “push” and you get your money back because no one won the bet.
Spreads can be half numbers as well, meaning -6.5 or +6.5. In this case, there can’t be a push and one team must cover the spread.
Moneylines
Another way to beat on games is to take the moneyline. Rather than betting on if a team will cover the spread or not, you can simply bet on the team outright to win the game. Betting the moneyline will also effect the payout that you would be able to win. The moneyline is also indicated by a minus (-) sign for the favorite and a plus (+) sign for the underdog.
If there is a team that is a heavy favorite, you will not win as much money by betting on them as you would betting on a heavy underdog. For example, if the Patriots are favored but you’re not confident in them covering the spread, you can take the moneyline. If the Patriots are a -200 favorite, that means you need to bet $200, to win $100. If the Jets are a +200 underdog, you could bet $100 to win $200.
Totals (Over/Unders)
If you are not particularly looking to bet on one team or another, you can bet on the total score of the game. This is a simple over/under bet, meaning you think the points/runs/goals will be more or less than the line set by the oddsmakers.
If you think the Yankees Red Sox game has a line of 8.5 runs, you can bet the over 8.5, meaning they score 9 or more runs, or the under, meaning they score 8 or less runs.
The “Juice”
Oddsmakers put a tax on each bet that most people call, the “juice.” This is a commission that is paid on each bet that will effect the payout. If the juice is -110, that means you need to put up $110 to make $100, rather than $100 for $100.
This can also be a positive for the sports bettor when a line is set at +110, meaning you can put up $100 to make $110 back. This number can range significantly when looking at the moneyline bet, meaning it can be as high (or higher) than -900, meaning you need to put up $900 to win $100, and +900 meaning you can bet $100 to win $900.
Line Movement and Live Betting
A line will open normally the night before or the day of a game for basketball, baseball, and hockey, while football lines are usually available Monday or Tuesday of the week of the game. When a line opens, it does not mean it’s static, lines have the ability to move in either direction.
This will be based on the action on the game, relevant news, or player injuries that can effect the game. If the Cowboys open up as a -2.5 favorite and a significant number of bets and money are coming in on the Cowboys to cover the spread at -2.5, the oddsmakers may increase the line to -3, or even -3.5. If you bet when it was -2.5, your bet still stands as is.
After a game has started, you still have the ability to bet while the game is going with constant line changes during the game. Lines move much quicker during the game, so make sure to be paying attention!
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