Understand Sports Betting

Sports betting can be a challenging type of betting and other than its seeming lack of strategy and complete reliance on knowledge of the event, the truth is, good sports betting actually relies on a great deal of strategy which is required to win. (Sports betting systems).  The most important tactics involve a close analysis of the information upon which a good judgment is to be based and thereafter the bet must be placed. To have a winnning strategy, you must take these factors into account:

1. The bid amount

2. The kind of bet

3. The offer odds

Sportsbooks in the US and Bookmakers in UK are entities that accept and take sports bets. The bets are placed predicting the finished results of quite a few sporting events like Baseball, Snooker, Basketball, Hockey, Soccer, Football, Tennis and hundreds of sports.  Here are the most basic definitions you must know: a sportsbook is the one who accepts the sports bet. An oddsmaker is the one who sets the odds of betting.

 

Betting the Odds

Before you place a bet, first you must pick the type of bet and the amount you will wager. This usually depends based upon the odds that are being offered. Before you place the bet, you must carefully crutinize the range of all the odds.

 

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

 

Given below is a list of some of the more common kinds of bets:

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

2. Point Spread: By betting 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 shown 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 other 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 type of bet is just 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, because the better bets on the total points scored.

6. Over/ Under: This bet takes into consideration 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 betting on multiple sporting events in the hope that a big payoff will be made if all win. The picks are made in relation to the point spread. Even if one event does not win or draw, the better loses the entire bet. This type of bet can generate huge amounts of money, in the event of a win.

8. Teaser: A teaser is extremely 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 depend upon the number of points the spread is moved as well as the number of teams that are combined to form the teaser.

9. Futures: This type of bet is on who will win the championship in the event that 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, the straight bet player has 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 mostly 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 are the Straight bet, the Doubles and the Future.

 

A few betting tips are:

1. Always make an intelligent analysis of the odds and the offer of the bet.

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

3. Bet wisely by keeping your selections limited. Also try to limit the influence of bias in your betting.  If you are a fan of a team try to limit the effect of that favoritism when placing bets.

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

5. By betting regularly though systematically and in an analytical manner, you will improve your judgmental ability.

6. Supress the urge to rebet with all 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. Read in between the lines, about matters pertaining to disputes.

8. Train yourself to look for value odds – you will master this art soon, with practice and time.

9. If deciding between two seemingly equivalent choices, trust your judgment and not that of those who have bet before you.  In so doing, 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 have a better handle on sports betting, you may be considering using a handicap sport better.  You can read a review on one of the best handicaps on the web right here: Daily Pick