Sports betting is a challenging form of betting and other than its seeming lack of strategy and absolute reliance on knowledge of the event, good sports betting really relies on a great deal of strategy which is required to win. (Sports betting strategy). The most important tactics include a close analysis of the information upon which a good judgment must be based and after which the bet must be placed. A winning strategy takes a few salient factors into account which are:
1. The amount of the bid
2. The type of bet
3. The odds on offer
Sportsbooks in the US and Bookmakers in UK are businesses that accept sports bets. The bets can be placed by predicting the end result of many sporting events like Baseball, Snooker, Basketball, Hockey, Soccer, Football, Tennis and hundreds of athletic or sports activities. Here are the most basic definitions you need to make sure you know: a sportsbook is the one who accepts the sports bet. An oddsmaker is the entity that sets the odds of betting.
Betting the Odds
In order to place a bet, first you must choose the type of bet and the amount you will wager. This decision will be made based upon the odds that are being offered. Before you go ahead and place the bet, carefully crutinize the range of all the odds.
For the bet to be worthwile, the odds should be in a ratio of at least 2:1. Remember to take into account the factor of the amount being given by way of commission to the sports-book. Ideally this should be a minimal percentage of the total value of the odds.
Listed below is an explaination of some common kinds of bets:
1. Single or Straight Bet: This is betting in its most basic form and allows you to the option of betting 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 presented with a + sign for the favorable side and a – sign for the underdog. In order that the better wins, when the favored team must win by more than the Point Spread. On the flip 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 bet 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 opposite of the Point Spread, with a – sign standing for the favorite and the + sign for the underdog.
5. Total Bet: This much like point spread bets, only in that 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 type of bet is a way of betting on multiple sporting events in the hopes that a big payoff will be made if all win. The picks made are in relation to the point spread. Even if one event does not win or draw, the better loses the entire bet. Huge amounts can be made through parlay betting, in the event of a win.
8. Teaser: A teaser is similar to a parlay, however 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 upon the number of teams that are combined to form the teaser.
9. Futures: These are bets on who will win the championship if 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: In this, the straight bet player gets the option of moving the point spread half point to his advantage. The most appropriate time to buy a half point is when one team is favored by 2.5, 3, 6.5 or 7 in football. This is primarily 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 bets are the Straight bet, the Doubles and the Future.
Here are a few Betting tips that will help you to place the Best Bets and push you towards a big win, they are:
1. When placing a bet, always do an intelligent analysis of the odds and the offer of the bet.
2. For the simple bet, stick to the Straight bet as it is non-complicated and has good winning prospects.
3. Keep 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 highest paying bets is the ‘Future’ bet but only if you know a lot about the sport being played and about the players.
5. By making sure your betting is systematic and analytical, you can greatly improve your judging ability.
6. Do not bet with 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. Make sure your sportsbook is a member of a known Gambling Association, makes a quick payment and is easily accessible. Consider carefully about matters pertaining to disputes.
8. Find value odds and train yourself to see them – you will master this art soon, with time and practice.
9. If deciding between two seemingly equivalent choices, trust your judgment and not that of those who have bet before you. In doing so, 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.
Hopefully you have a better grasp of the sports betting industry. Now, you may want to consider using a sport handicap. Here you can read a full review on John Morrison (an exceptional): the Champ Selections review