May 09, 2024
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Sports betting is an increasingly popular activity in the United States and around the world. There is a big game coming up and the crowd is excited. They are all saying one team will win but you know in your heart that the other team will win. Not only that, the team you think will win is an underdog so in sports betting terms, you are “getting points”. This means the team you are betting can still lose and as long as it is by les than the point spread you still win your bet.
In the scenario mentioned above, perhaps the best way to bet that game is the moneyline. The underdog you like to win straight up may be +200 (2/1). This means you get paid back double the amount you risk. The feeling you get when you win a moneyline underdog like that is a good one.
But, Can sports betting be profitable? The bottom line is Yes, sports betting can be profitable. Discipline and bankroll management is the key to winning at sports betting. Picking and choosing your games and not just betting on the game featured on TV is a key strategy. Understanding that people bet impulsively and illogically is to understand how sportsbooks make money. Avoiding being or becoming one of those impulsive bettors is paramount in your pursuit of beating the book.
What Percentage of People Win Sports Betting
A study followed some sports bettors over a three year period of time and found that only 11% of them made a profit. Your average sports bettor is under 45 years old and makes less than $45,000 per year. So, when they lose a few games in a row, they typically tend to back off. The advantage here is to the sportsbook. The book has the deep pockets to outlast sports bettors and their business model is paying winners and collecting from losers. When all is said and done, they have more losers than winners and on top of that they keep “the vig” aka the bookmaking fee, which is usually between 5-10% of all action wagered.
Betting Handle by Sport
In the United States, football is king. And I am not talking about what the world refers to as “football”, which we call soccer. American football gets the most action and it’s not even close.
In fact, soccer falls into the “other” category in the graph shown above. So, how does this information help you?
For starters, you will find the most generous bonus offers and free bet giveaways during the football season. This is peak season for sportsbooks and they want as many people playing as possible.
You will get the best vig during football season as well. Many times you can find a sportsbook offering reduced juice (lower vig) during football season.
Sportsbooks may also offer “rebates” where they return a small % of your total handle and credit your account. You can then bet that money and turn it into genuine profit.
Football is the most widely covered sport in the media. All major networks feature some sort of show which spotlights football action for both college and professional football. It is darn near impossible to watch any media during football season and not be exposed to highlight plays, storylines, stats and figures associated with the game. All of this information makes your betting choices easier in the short term and long run.
The most successful sports bettors are people who don’t feel the urge to bet on every game they see. They don’t mind betting on a smaller matchup as long as it offers some value. Let’s say UNLV is playing Hawaii. Most people have very little interest in that matchup. But, if you happen to know that the line is out-of-whack and should be higher, then you can take advantage of this matchup. It doesn’t matter that the game may not be televised. You see the angle and you bet the advantage.
Nontraditional Ways to Bet the Game to Win Money
If you are a person who understand player stats and how certain player perform against one another, individual player props may be a good choice for you. Let’s say A. Jones is a WR and he is matching up against B. Smith, who is a cornerback for the opposing team. You are aware of the history between these two players and that this particular cornerback always gives this receiver a hard time. The receiver has on over-under of 88 yards. You would take the under and count on that relationship living up to the way it has in the past. For whatever reason, that receiver struggles against that player and your knowledge of this can be taken advantage of at the sportsbook. When the receiver has 16 yards on one catch at halftime you will be feeling pretty good about yourself. It doesn’t even matter who wins the game just so long as that receiver doesn’t go over 88 yards receiving.