(MENAFN - Born Again Media)
Sports betting has been around forever. However, in recent years, it has steadily begun to gain steam as a popular pastime that many around the globe enjoy. It is a hobby that not only brings entertainment but one that can also yield profits.
If you are looking up articles like this one, chances are you are a sports fan. So, you already fulfilled one of two necessary prerequisites to get started with this activity. We will provide all the needed information about the second one, how betting works, in the text below. Therefore, strap in, and get ready to learn the following:
Is betting a good way to make money?
How are sports betting odds determined?
What sport is easiest to win betting?
What is the most profitable betting strategy?
How do you win sports betting every time?
Is Betting a Good Way to Make Money?
It is essential to understand that while sports betting can be a profitable venture, that is not always so. Sportsbooks exist because they hold the advantage. However, most people fail in this activity on account of not knowing how to implement betting systems or reliable sports betting strategies. Engaging in this pastime without a grasp on how this sector works is a recipe for failure.
The answer to the question – how to make money with sports betting is not a simple one. In short, the trick is to aim for long-term profits by investing as much money as you can while incurring the lowest amount of risk possible. That is easier said than done, as it requires in-depth sports and gambling knowledge, as well as a ton of discipline.
It is essential not to get bothered by short-term mishaps. Remember, you are playing a long game. Also, if you plan on setting sail on your gambling voyage on the internet, note that sites like Safest Betting Sites are a great guide to find the most reliable and trusted online sportsbooks.
How Are Sports Betting Odds Determined?
So, how are betting odds calculated? In short, bookmakers come up with their lines/odds in a way that reduces variance and ensures profits while still indicating the likelihood of an event happening.
Their goal is to find a balance between featuring odds that appear attractive to bettors and guaranteeing that they do not lose a lot of money if an unlikely event occurs. They do this by setting an opening line using their sports expertise. It reflects the probability of something happening based on the opinion of someone that is an authority on the subject.
After the initial odds get set, they begin to fluctuate based on the public’s wagering. The bookmaker moves the odds to reflect this, so there is a balance on either side of the proposition. That way, the bookmaker faces minimum exposure and makes a profit from the commission charged for the bets made. To understand how to calculate sports odds, you will have to learn about formulas that project a bookmaker’s profit margin.
Three Most Profitable Betting Strategies
There is no consensus on what is the best sports betting strategy. Every gambling enthusiast has his preference.
If you plan on getting into this hobby with some degree of seriousness, you first need to avoid the mindset that the house always wins in the long haul. That is not so. If you do your research, line shop, and remain focused, you can stay out of the red and wind up with money in your pocket.
If you think that you can follow through with those instructions, you can educate yourself more about implementing these betting systems:
Arbitrage – Arb betting is the process of backing and laying the same outcome on an event. It exploits the mathematical differences in the available odds to guarantee a profit. A back bet is a wager on an event happening, which you make at a sportsbook. A lay one is the opposite of a back wager. It is a bet on something not happening, and you make it at a betting exchange.
Proportional betting – Proportional betting entails that you set a bankroll, and you start betting a small percentage of it, in the 1% to 5% range. As you win, your bankroll grows, and your future bets increase. They move towards the 5% mark. If you suffer losses, they move down to the lower end of your range. The idea behind this strategy is to protect your bankroll and never run out of funds.
Martingale – The Martingale is a famous progressive betting system used most commonly utilized on roulette. Due to its simplicity, many newbies view it as the best betting strategy for sports. It requires that you double your bet after suffering a loss, nothing more. The goal here is to cover your losses, eventually, while attaining a profit.
Easiest Sports to Bet On
According to experienced gamblers, three sports stand out as ones that anyone can quickly pick up on how betting on them works. They are:
Soccer – Soccer is by far the world’s most established sport. There are thousands of soccer leagues worldwide, which means that the number of betting markets is vast. Furthermore, sportsbooks allow bettors to wager on a myriad of aspects of a match, and they allow for multiple soccer markets on a single slip.
Horse racing – While it is accurate that horse racing has seen better days, it remains a popular sport for betting fanatics. You only need to pick a horse you fancy to win a race and understand the odds of that happening.
Tennis – The terrific thing about tennis is that it is a game most people are familiar with, and it is a super predictable one. Naturally, upsets do happen. Nevertheless, if you know that the players are healthy and well-rested, quality usually rises to tennis. It is also a sport that allows for set spread betting, over/under wagering, future and live bets, and more.
To Wrap Up
Unlike casino-style gambling, sports betting requires knowledge. That includes having information on the event you are betting on and this industry as a whole. It is not enough to predict sporting contests with a great deal of accuracy. You also have to know where to lay down your wagers.
What sportsbooks offer the best odds or the best money-making opportunities. Once you understand the math behind how odds work and learn a few betting systems, you can be well on your way to long-term profits via regular wagering on your favorite sport.
About the Author
Shelly Schiff has been working in the gambling industry since 2009, mainly on the digital side of things, employed by SafestBettingSites.com. However, over her eleven-year career, Shelly has provided content for many other top interactive gaming websites.
She knows all there is to know about slots and has in-depth knowledge of the most popular table games. Her golden retriever Garry occupies most of her leisure time. Though, when she can, she loves reading Jim Thompson-like crime novels.
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.