?»?How to choose a sports betting site?
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Becoming a Sports Betting Pro Is a Long, Slow Process.
To most sports gamblers, a professional bettor seems to have a perfect life. They wager on sports for a living, make their own hours, and earn serious profits.
That said, professional sports gambling may seem like a glorious career. However, it actually involves a long and slow climb to the top.
This guide discusses the realistic points of the path towards becoming a success when betting on sports. It also covers the small edges and long hours that gamblers must put it into turning pro.
Professional Sports Bettors Deal With Small Edges.
When the general population envisions an expert sports bettor, they think of somebody who makes thousands of dollars with every wager.
They probably also picture a gambler who just can??™t seem to lose night after night. The reality, though, is much different than this.
Instead, they have a small edge that they exploit through large bets.
Many sports gamblers consider themselves successful if they win 50% of their wagers at -110 odds. Of course, gamblers can win more far more bets against the sportsbooks if they back heavy favorites (e.g. -300 or better).
But -110 is a nice measuring stick for how successful you are in terms of win-loss percentage. Even if you win 50% of the time at these odds, though, you still won??™t be making profits.
After all, you need to take the juice into account. A bookmaker takes 10% from the losing side in a -110 wager, meaning a 50% win rate won??™t get it done.
Some handicappers claim they correctly guess over 60% of their sports betting picks. However, no handicapper or professional sustains such a win rate in the long run.
At best, one can only expect to be successful on 55% of their bets long term. This win rate certainly isn??™t the 80% mark that many would envision for a pro.
You Can??™t Expect to Win Big With a Small Bankroll.
You won??™t get very far if you have a 53% to 55% win rate and are only placing $10 bets. You can??™t even earn a dollar profit from each wager at this rate.
You need to exploit your long-term edge with big bets in order to make serious profits.
Here??™s an example on how much you might win as a lower-level pro:
Unless you strictly bet point spreads, most profitable opportunities that you find aren??™t going to be at exactly -110 odds. But I keep referring to these odds because they make for the simplest examples.
You also need to capitalize with large wagers as well. You can only place these big bets if you have the bankroll to do so.
You Must Build Your Skills & Bankroll.
Sports gambling definitely isn??™t something that you jump right into and immediately conquer. Instead, it requires you to put long hours into the matter.
You??™re most likely not going to win right away. Therefore, you want to study general sports betting strategy while slowly increasing your bankroll at the same time.
You also need to work on your handicapping skills.
This way, you won??™t lose too much money if your betting skills aren??™t yet up to par.
All the while, you should also be slowly adding to your bankroll. This process involves saving money and using it to build your gambling funds.
You probably don??™t have $50,000 or $100,000 just sitting around for gambling purposes. But you can build up to this amount through a combination of steady investments and improving your skills.
Eventually, You Need to Increase Your Bet Sizes.
I highly advise that you don??™t jump into sports gambling and start placing $1,000 wagers right away. Eventually, though, you want to up your bet sizes to make more money.
With a large enough bankroll, you may even theoretically earn thousands of dollars per wager.
Of course, you want that bankroll to back up those huge bets.
Otherwise, the volatility could ruin your betting career.
Therefore, you should put serious consideration into your bankroll size. Here??™s an example:
You want to place $500 bets. You also want a bankroll with at least 100 units to survive the volatility. You??™ll risk 1-3 units on each match, depending upon how confident you are. 500 x 100 = 50,000 You should start with at least $50,000 (100 units at $500 apiece).
Can You Grind From a Low Roller Into a Pro Bettor?
If you??™re like most amateur online bettors, you??™ll probably start with a $50 or $100 deposit. These amounts give you just enough money to make several bets on the games you watch.
However, you may also have aspirations of turning your small bankroll into a fortune someday.
The odds are definitely against you depositing $100 and eventually becoming a top pro. Then again, though, everybody has to start somewhere.
The reason why most sports bettors feel this way comes down to two aspects:
They fail to put the work into strategy and handicapping. They exercise poor bankroll management.
Sure, everybody who sets out on the road towards professional gambling blames bad luck or external factors for their failures. In reality, though, the average bettor is lazy and impatient.
They don??™t want to put an hour into handicapping a single bet. They want to put five minutes into handicapping 12 wagers and pray that they??™ll win most of the bets.
Furthermore, the typical sports gambler doesn??™t wish to grind their way up towards larger wagers. They want to quickly increase their bet sizes and take shots at the big time.
Long story short, it??™s possible to go from a small initial deposit to becoming a professional gambler. But you also need discipline, patience, and steady investments into your bankroll.
Most gamblers aren??™t willing to make these sacrifices. That said, it can sometimes feel impossible grinding up towards pro status.
Tips for Starting on the Path to Becoming a Pro.
As discussed throughout this post, you??™re not going to become a professional bettor overnight. But you can at least get started on the right path by following the tips below.
Save Up for a Starting Bankroll.
A $100 bankroll isn??™t going to help you become a professional gambler. Even a $1,000 bankroll won??™t do the trick.
You need a sizable bankroll so that you can make large bets and survive potential losing streaks. The amount needed all varies based on how much you want to get out of sports betting.
Of course, you don??™t have to put your betting activities on hold just because you don??™t have a small fortune.
Instead, you can learn the ropes by making small bets while slowly adding to your bankroll on the side. If you save up enough money, you??™ll eventually be able to become a serious pro.
Break Your Bankroll Down Into Units.
Most professionals don??™t look at their bets in terms of dollars. Instead, they break their bankrolls down into units.
If you normally wager $100 per bet, then your unit size will be $100.
Of course, you??™ll likely bet more than $100 when you feel extremely confident about an outcome. Therefore, you might risk 2-3 units in these situations.
In any a case, here??™s an example on how to break your bankroll down into units:
You have a bankroll worth $75,000. You want 100 units. 75,000 / 100 = 750 Each unit size will be worth $750.
Narrow Your Focus.
You might be tempted to bet on multiple markets. After all, wagering on a variety of sports is more entertaining than just one or two.
But the goal here is mastery. You stand a much better chance of making profits someday if you truly know a market.
Going further, you should also pay attention to a specific division rather than constantly trying to scout an entire league. If you know one division extremely well, then you??™ll be an expert on matches involving that division.
Never Stop Studying.
Sports betting is fun because you may never truly master it. You could dedicate a lifetime to this pursuit and still get fooled by the bookies sometimes.
That said, you have lots of room to grow with betting. If you truly dream of becoming a professional, you should constantly be studying general strategies and handicapping tips.
As long as you never stop researching advice, you??™ll improve over time. Improve enough, and you could very well make a nice living off of sports gambling.
Conclusion.
Sports gambling may seem like a quick path to riches for skilled bettors. But in reality, it??™s a long journey that involves lots of planning and patience.
You can??™t go from zero to 60 and expect to win big right away. Instead, you should grind your way up the ladder while slowly adding money to your bankroll.
With this approach, you can improve your handicapping efforts while also building your gambling funds. You should also steadily increase your bet sizes??”especially as you develop an advantage.
Rex Hoffman is a passionate sports writer, with over five years of experience covering sports journalism in line with the Vegas betting landscape. His favorite subjects include football, basketball, and baseball. As a Las Vegas resident, he enjoys finding an edge against the local sportsbooks and aims to share his extensive knowledge with both beginners and experienced bettors. Rex also dabbles in horse racing wagering and enjoys typical casino fare like blackjack and poker in his spare time.
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How to Bet on Sports for Beginners: 12 Tips to Know.
Suchat Pederson/The News Journal via USA TODAY NETWORK.
Over the past few years, the emergence of daily fantasy sports has led to a renaissance for conventional sports betting. The anti-gambling stigma that existed for decades is fading in American popular culture, opening the door for a massive, multibillion-dollar legal sports betting industry to emerge.
With sports betting now legal in many states, millions of sports fans will be looking to enter the betting market for the first time. But where do you begin if you??™re unfamiliar with the terminology?
Here??™s an introduction into how to bet on sports. We??™ll be adding to this series in the coming weeks.
How to Bet on Sports for Beginners: 12 Tips.
Use the links below to jump to each section.
1. Favorites vs. Underdogs.
When the oddsmakers release a betting line on a game, the first thing they do is decide which team should be the favorite and which should be the underdog.
The favorite is the team that is expected to win the game and will get a minus sign next to its odds, while the underdog is expected to lose and gets a plus sign. If the game is a toss-up, books will open it as a ???pick??? or ???pick??™em.??? Click to return to table of contents .
2. Spreads.
There are two main ways to bet on a favorite or an underdog. The first is the point spread, which is a bet on the margin of victory. A favorite ???gives??? points, while an underdog ???gets??? points.
For example, say the Patriots are 7-point favorites (-7) against the Jets.
If you bet on the Patriots, they need to win the game by 8 points or more for you to win your bet. If the Patriots win by 8 points or more, you ???cover.??? If the Patriots win by exactly 7 points, that is called a ???push,??? which means you get back the money you originally bet.
If the Patriots win by 6 points or fewer (or lose the game straight-up), you lose your bet.
Spreads are available for all sports, but they are predominantly used when betting on higher-scoring sports like football and basketball.
3. Moneylines.
The second way to bet on a favorite or an underdog is on the moneyline. This is based solely on which team will win the game.
Favorites are given a ???minus??? designation, such as -150, -200 or -500. If a favorite is -200, that means you have to risk $200 to win $100. If the favorite wins, you get $100, but if the favorite loses, you??™re out $200.
Because favorites are expected to win, you assume more risk when betting on them.
Moneylines are available for all sports, but they are predominantly used when betting on lower-scoring sports like baseball, hockey and soccer.
4. Over/Unders (Totals)
In addition to setting a line for the favorite and the underdog, oddsmakers will also set a total number of points scored in a game by both teams combined. This is called the total or over/under.
Bettors can then wager on whether or not the game will go Over or Under the total.
For example, an NBA game between the Celtics and Bulls might have a total of 215. You could either bet the Over 215 or the Under 215. If you bet the Over 215 and the total points scored end up being 216 or higher, you win your bet. If the total points scored are 214 or fewer, you lose.
5. What Is the -110 Number Listed Next to My Bet?
The oddsmakers put a ???tax??? on every bet, which is typically called the ???juice??? or ???vig??? (short for ???vigorish???). The juice is the commission you have to pay to the sportsbook for them to accept your wager.
Say the Duke Blue Devils are -5 (-110) ??¦ that means if you want to bet on Duke as a 5-point favorite, you need to risk $110 to win $100.
You always have to risk more on a favorite than you??™d win on an underdog??¦otherwise, sportsbooks would be out of business.
6. How to Place a Bet.
With legalized sports betting spreading across America, sports bettors have never had more options to take advantage of. To see if sports betting is legal where you live, check out our state-by-state tracker.
Some of the biggest states that have legalized mobile wagering include Colorado, New Jersey, Pennsylvania, Indiana and West Virginia. The sportsbooks highlighted below are all trustworthy legal shops that take bets online.
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