Five Sportsbook Betting Tips

Sports betting is a competitive hobby because every bet you place is essentially a bet against someone else. Sportsbooks try to lay the odds in such a way that half the bettors pick one side and half the bettors pick the other side, which makes it tough for you to pick the right team when you make your bets. There's no one single way to guarantee sports betting success but if you use these tips as a rough guideline, you'll be off to a good start.

Use Proper Money Management

Money management is the first skill you have to learn when it comes to sports betting. If you don't use proper money management and don't always play within your bankroll, none of these other tips matter because no matter how skilled you are, if you bet on a short bankroll, you'll bust your bankroll.

The rule of thumb for bankroll management in sports betting is to never make a bet larger than 1-2% of your entire bankroll. This sounds like a small number but sports betting is a swingy endeavor in which the occasional losing streak can cause a lot of pain if you don't play within your bankroll at all times.

Shop for Value

There's really no reason to play at just one sportsbook when there are literally hundreds of them competing for your business. Pick a few of the biggest, most trustworthy sportsbooks and shop around for good lines.

No matter which sport you bet on, sportsbooks charge some sort of juice to make a profit. Before you make a bet, find the sportsbook that offers the best line or charges the lowest juice on your bet. Each instance doesn't add up to a lot of money but, over the course of a year, the savings are significant.

Be Ready to Work Hard

It's not easy to be a winning sports bettor so be ready to put in some hard work if you want to be successful. It looks like professional sports bettors have the easy life but they are actually hard workers. They research stats, read up on the teams, read strategy, and spend time shopping around for good value.

The good news is that once you get good at it, you'll make a lot of money sports betting whether you're a professional or hobbyist. Sports betting is different than most hobbies in that as you move up in levels, the competition, or work required, doesn't get harder. The only difference is the amount of money you bet on each game.

Always Look at the Big Picture

When picking an upcoming match, look at the whole picture. A common mistakes sports bettors make is to let one fact override all the other information available to them. For example, you'll often see people bet on underdogs just because they're playing with the home field advantage. That's a good thing to know, but it shouldn't be the only thing you take into consideration.

Look at the records of both teams, recent news about the teams, injuries, stats, and past performances against the opposing team. There's a lot of free information out there so don't let it all go to waste by zeroing in on just one fact and ignoring all the rest.

Avoid Parlay Bets

Avoid parlay bets like the plague. New sports bettors are usually intrigued by parlay bets because the potential payoffs are huge for relatively small investments. What they soon learn, however, is that not only are parlay bets extremely difficult to win, but they also offer terrible odds.

Even if parlay bets offered decent odds, I'd still be against them because they are highly volatile bets. In addition to it being hard to win them, the payouts are much lower than the actual odds of winning. If you randomly picked the teams in a 10-team parlay, the odds against you would be 1,023 to 1. The payout? A mere 600 to 1. Don't waste your time or money with parlay bets unless you consider it an entertainment expense.