If you are a sports fan, you have undoubtedly looked into sports betting and the ways to make money. However, then there is bad news. This is because most fans will only end up losing money. This is due to the bias towards certain teams, which quickly causes you to bet on your favorite.
It is therefore difficult to actually make money from sports betting. Only if you are objective do you stand a chance. Even as a fan, you’ll often have to look objectively. In addition, you should also understand the math behind it and know that you only break even if you win at least 52.4% of all bets.
Betting on sports
So you only make money if you win more than this percentage. This already confuses many people. After all, normally you would expect to win only 50%. Anything above that should result in a win. Even though you have a 50% chance of winning, a certain percentage extra must be won in order to earn back the fees to the bookmaker. Therefore, you always put in more than you are going to win back.
If you lose half of the time and lose more money than you earn, you’ll still end up with a loss. For example, if you bet €110 and make a profit of €100 and then bet the next €100 and lose €120, you will still end up with a loss. This is just the beginning of what you need to know about sports betting. There are, in fact, many more mathematical principles behind it.
There are many sports you can bet on
The math behind sports betting
The math behind sports betting can only be understood through examples. This is because these should create a clearer picture. In doing so, you are dealing with two different teams. One has an odd of -3 and the other +3. The team with the minus sign in front is always the favorite. You should therefore always deduct three from the score and compare it to the other team.
The bookmaker expects you to bet €110 to win €100. If you have bet on the favorite, then the bookmaker will never take an overwhelming loss. This is due to the point spread mentioned above. Theoretically, you have a 50% chance of winning. However, you can then still benefit from the mistakes made behind the scenes.
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Using moving lines
You have to have sharp actions to become a good and winning sports gambler. This is because they always bet large amounts. With this, the bookies will adjust the point spreads to be able to stimulate the action on the other side as well. The moving lines allow you to keep following the actions and start making new decisions.
You should always start looking for the reverse line movement. This is the fact when the line moves away from one side and therefore the money is going to change as well. For example, you should start looking at the lines where there is a move from +7 to +6.
Then you look at how many people gambled on the other side. This way you know what action the bookmaker wants to encourage. You combine this again with the win lines and can then place a bet that is going to give you a positive expectation.
You can find numerous websites that allow you to estimate the percentage that takes place on one side of the match. For example, think about soccer matches. Chances are that 70% is betting on a particular team and the other 30% is betting on the other team. If you bet with the latter category, you are being contrarian.
Being contrarian also means that you often bet on the underdog. For many people, this is against all feelings. However, it is shown that you can win more often with this than if you bet on the favorite. Still, it won’t lead you to big profits in the long run.
You’ll always have to think along and carefully consider the choices you’re going to make at any given moment. However, it is a good starting point when you’re going to determine a new strategy for your own sports betting.
Continue to manage your budget
Managing your budget in the right way is not easy. No matter how sure you are of your own bets, there is always the chance that you will lose. This is also referred to as ‘on a random Sunday’. This can affect your budget.
For example, you should not have too much of your budget in action at one time when betting. For example, if you know that you have a 65% chance of winning, then you can consider yourself lucky. With a budget of €10,000, this will still be a large amount that you lose. There is still a chance that you bet on the wrong club.
Rebuilding your budget can take a long time. And time is money with sports betting. You will therefore need to make several estimates and see how much you can bet on each match. If there is a high risk, it is best to bet up to 5% of your budget.
A size of €500 should then be sufficient. Of course, if you are certain, this amount can still start to change. This will prevent you from not being able to cope with the setbacks. In doing so, you will also no longer derive any pleasure from the bets.
Buying the choices
It probably sounds logical and is often done. The picks are bought in. However, the people who sell them often don’t know any more than you do. The companies that sell them are also called tout services. The history behind this is interesting and there is a whole strategy behind it to get you to change your mind.
Everything is sold from a call center. The room in which the sale takes place is split into two parts. One side promotes one team and the other promotes the other team. Theoretically, this should win half of the customers while leaving the other half with a loss.
To help the losers with their complaint, a free new choice was given for a game on a weekday. The other half of the customers would be left satisfied, leading to new purchases.
There are also stories of a gambler who started his own service, letting his five-year-old son make the choices. The little boy often got lucky and won 60% of the time. This was dumb luck, however, but it did ensure that the company would start to make a profit. In this way, €3,000 was soon earned.
For you, this would mean that you first need to make more than €3,000 in profit. For this you would have to exceed the percentage of 52.4% to be profitable. If you then make less than €3,000 profit, you are still dealing with a loss. It therefore becomes difficult to really become a profitable sports gambler.
Making money from sports betting is possible. People are working on it throughout the day. However, you then have to know a lot about it and you have to go for a smart approach. The trick is to be contrary.
You also need to know enough about the mathematical principles and use your budget in a good and smart way. In addition, it is advisable to avoid the choices of experts, because they are often not experts. In the end, your vigilance can bring you profits.