Sports Betting 101

Sports betting is certainly a challenging type of betting-and gambling, and despite its apparently seeming lack of strategy and complete reliance on knowledge of the event, good sports betting actually relies on a huge amount of strategy which is required to win. (Sports betting tips).  The biggest and most iimportant methods involve a close analysis of the information upon which a good judgment must be based and thereafter the bet should be placed. To have a winnning strategy, you must take these factors into account:

1. The amount of the bid

2. The type of bet

3. The offer odds

Sportsbooks in the US and Bookmakers in UK are businesses that take sports bets. The bets are placed predicting the end of several sporting events like Baseball, Snooker, Basketball, Hockey, Soccer, Football, Tennis and hundreds of sports.  Let’s go over the most basic definitions: a sportsbook is the one that accepts the sports bet. An oddsmaker is the entity that sets the odds of the bet.

Betting the Odds

In order to place a bet, first you must pick the type of bet and the amount you will wager. This decision will be made upon the odds that are currently being offered. Before you place the bet, carefully study the range of available odds.

The odds must be in the ratio of at least 2:1 for the bet to be worthwhile. Also take into account the total being given by way of commission to the sports-book. This should ideally be a minimal percentage of the total value of the odds.

Listed below is a description of some of the more common kinds of bets:

1. Single or Straight Bet: This is the most basic form of betting and allows you to the option of betting at given odds, upon a winner.

2. Point Spread: With this type of bet, one can bet on one of two selections that have been equated through the allocation of suitable points. In the Point Spread, the number of allocated points are presented with a + sign for the favorable side and a – sign for the underdog. The better wins when the favored team must win by more than the Point Spread. On the flip side, if a bet has been placed on the underdog, that team has to lose by less than the Point Spread for the better to win.

3. Buy Points: This involves moving the Point Spread positively, by paying a price.

4. The Moneyline: This kind of bet is simply on who will win. It establishes the odds for each side but is the reverse of the Point Spread, with a – sign standing for the favorite and the + sign for the underdog.

5. Total Bet: This is similar to  point spread bets, only in that the better bets on the total points scored.

6. Over/ Under: This is a bet as per which the number of points scored by the teams in any game will be beyond/ over OR below/ under the total set by the oddsmaker.

7. Parlay of Accumulator: This is a way of betting on multiple sporting events in the hope that will pay off big if all win. The picks made are in relation to the point spread. If just one event does not win or draw, the better loses the entire bet. In the event of a win, this type of bet can make huge amounts of money.

8. Teaser: A teaser is very similiar to a parlay, except it has the option of adding or taking off points from one or more than one Spread bets. The odds are dependant upon the number of points the spread is moved as well as upon the number of teams that are combined to form the teaser.

9. Futures: These types of bets are on who will win the championship if there are more than two possible teams to bet on. Substantial variations between sportbooks exist in house edge on futures.

10. Buying Half a Point: With this kind of bet, the straight bet player gets the option of moving the point spread half point to his advantage. The best time to buy a half point is when one team is favored by 2.5, 3, 6.5 or 7 in football. This is primarily due to the fact that several games end in a 3 or 7 point difference. The extra half point may end up turning a loss to a draw or a draw to a win.

Of all these types of bets, three types of bets are prominent and must be used for the simple reason that they are simple themselves, are easy to win and have a good chance of winning. These bets are the Straight bet, the Doubles and the Future.

Here are a some Betting tips that will help you to place the Best Bets and push you towards a big win, they are:

1. When placing a bet, always do an intelligent analysis of the odds and the offer of the bet.

2. For a simple bet, stick to the Straight bet as it is non-complicated and has good winning prospects.

3. Keep your selections limited. Also, limit the amount of influence in your betting.  In other words, if you are a fan of a team try to limit the effect of that favoritism when betting.

4. One of the most rewarding bets is the ‘Future’ bet but only if you know a lot about the sport being played and about the players.

5. By making sure your betting is systematic and analytical, you can greatly improve your judgmental ability.

6. Supress the urge to rebet with your winnings immediately. If you do not follow the standard rule of 50%, at least put some of your winnings back into your pocket.

7. When choosing a sportsbook, make sure your sportsbook is a member of a known Gambling Association, makes a quick payment and is easily accessible. Consider carefully about matters pertaining to disputes.

8. Find value odds and train yourself to see them – you will master this art soon, with time and practice.

9. If you are trying to decide between two choices seeming equivalent, trust your judgment and not that of those who have bet before you.  In this case, choose a selection with a little higher risk so as to hike up the winnings.

10. Bet on games and leagues where the sportsbook’s commission is the least.  This is often in the sport or sports with which that sportsbook does most of its business, as it is likely the most efficient in that area.

Now that you understand sports betting, you may want to consider using a sport betting handicap.  Here you can read a full review on John Morrison (considered the best handicapper to some): Daily Pick

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