Are you looking for ways to bring a competitive element to your love of sports? Have you always been intrigued by sports betting but unsure of the way that it works? If so, then you need to learn all that you can about sports and odds.
As with any other type of contest, there is a strategy involved in the bets you place. It’s all about looking at sports odds and being able to identify a strong potential to win.
See below for an in-depth guide on betting odds and how you can get better at sports betting from the get-go.
Create a Bankroll
Betting on sports and odds starts with the way that you handle your money. If you want to “bet on sports better”, then you need to get better at overseeing the cash flow behind your bets.
Not doing so can land you in a world of hurt. Some people fall in the red and complicate their personal finances with their reckless money habits. But what if we told you there was a way you could ensure you never fell in the red?
You can ensure you never fall in the red by creating a bankroll. This is when you set aside a certain amount of money to be used towards your sports betting. Once you’ve used that money on bets, you cannot spend any more; think of it as a bank account for sports betting.
When you win, that money gets put back into your bankroll to be used for future bets. This amount will ebb and flow over time, but you’ll always stay in the green.
For example, let’s say you place $50 per paycheck into your bankroll. After two weeks, you have $100 to spend on your bets. You then place a $25 bet, leaving you with $75 remaining in your bankroll.
If you win, you would place all your winnings back into the bankroll, giving you more than you originally had. If you lose, then you’re only out $25. You still have $75 to use (until the next paycheck, then you’ll have $125 to use).
If your bankroll hits $0 at any point, then you can’t place any more bets until you deposit $50 from your next paycheck. This will ensure that your sports betting never gets out of control.
Know How Much to Bet
Now that we’ve covered how to manage your money, let’s talk about how much to spend. How much should you bet on a game? Is there a certain amount that we’d deem too high?
As a general rule of thumb, you should never bet any amount that you can’t afford to lose. Your newfound bankroll will help with this. All the money in your bankroll is intended to be used for betting; you set it aside for that very purpose.
That said, you should think in terms of percentages. Try not to spend any more than 1-percent to 5-percent of your total bankroll. For example, if your total bankroll is $200, then you should never place any bets higher than $10 (200 x .05).
In time, your bankroll will grow with your winnings and the money you’re setting aside from each paycheck. This will allow you to make those bigger bets in the future. Always let the bankroll dictate your bets.
Keep a Sharp Eye on Moneylines
Moneylines are a great tool for all you beginners out there. The concept is simple: bet on which team you think will win the game.
If a team is considered the underdog of that matchup, they will be given a designation with a “+” next to it. This shows the money that you could win if you bet right on them overcoming the favorites.
For example, if the Jacksonville Jaguars are +250 for a game, then that means that if you bet $100, you could win $250 if the Jaguars pull off an upset.
The teams that are considered favorites are given a “-” designation next to their name. In this scenario, if the Tampa Bay Buccaneers were -250, then it means you’d have to pay $250 for the chance to win $100. You can visit this link to learn about some bets of the day.
Always Look for Spreads
If you’re wanting to improve on betting on sports and odds, then you need to get some skin in the game with point spreads. To put it simply, this is when you bet on the margin of the final score.
Let’s say that the Buccaneers are considered 9 point favorites against the Jaguars, the Bucs would be listed as -9. Meanwhile, the Jaguars would be +9.
If you bet on the Buccaneers to win that matchup, then you want them to win by 10 or more points; That means you would cover. If the Bucs win by 9 points on the dot, you simply get back whatever money you wagered on the game.
However, if you bet on the Jaguars in that scenario, then you’re betting that they’ll lose by 8 points or less. If they do, you then cover the bet and will gather your winnings. If they lose by exactly 9, then you’ll get back the money you bet on the game. This also makes it more fun to watch primetime games with teams you might not root for otherwise.
Bet on Sports and Odds Better With These Tips
Now that you have seen an in-depth guide on how to bet on sports and odds better, be sure to use this information to your advantage.
Take the time to browse our website for more articles on sports betting, as well as many other topics you will find enjoyable.
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