dummies guide to sports betting

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I've read in a few trip reviews about people winning hundreds of dollars on the penny slots. When most people max bet on penny slots about winning big on pennies they max bet on penny slots go on a roll and have betting games large wins coupled with some small to mid sized wins. I go with a set amount of money to have fun, and if I win that makes it even more fun I would love to see these mystical slots where max bet is only five coins because it's been ages since I've seen those - max bet seems to be more 10 to 20 coins per line lately. A good payoff for a single coin per line bettor on a penny slot is a hundred dollars or so.

Dummies guide to sports betting eagles redskins line betting

Dummies guide to sports betting

You could either bet the Over or the Under If you bet the Over and the total points scored end up being or higher, you win your bet. If the total points scored are or fewer, you lose. The juice is the commission you have to pay to the sportsbook for them to accept your wager. With legalized sports betting spreading across America, sports bettors have never had more options to take advantage of.

To see if sports betting is legal where you live, check out our state-by-state tracker. Some of the biggest states that have legalized mobile wagering include Colorado , New Jersey , Pennsylvania , Indiana and West Virginia.

The sportsbooks highlighted below are all trustworthy legal shops that take bets online. Click to return to table of contents. In the end, you have the final say on how much to risk on a game, but a good rule is risk only what you can afford to lose. Sports betting is a marathon, not a sprint.

There will be good days and bad days. As a result, we recommend a flat-betting approach. They are unique to the team, sport and league, and universal across most sportsbooks. Much like stocks on Wall Street, the sports betting market is fluid. Lines can vary based on the sportsbook, because different books have different clienteles.

As a result, one book may post the Cavs -8 while another has Having access to more than one sportsbook allows you to shop for the best line. Getting an extra half-point might not seem like a huge deal, but it adds up over the long haul and increases your chances of winning. Our live odds pages will automatically surface the best line for every game. These are all a good thing to know, and it can allow you to maximize your winnings. Check it out for free here. Sports Betting. Best Books. Action Network Staff.

There are a lot of chalk players out there, bettors who will only wager on teams that are favored by the sportsbooks. These types of bettors make it easy for sportsbooks to shade their lines, because they know that these players will pay the extra juice for the promise of reduced winnings, rather than taking a chance on the underdog. It should be clear by now that the sportsbooks have it figured out in terms of how they can be most profitable. Your profits may start small, but will grow into something bigger over time.

We already told you about chalk players in the section above, and you might notice that the way we described them kind of made them sound like fodder for the sportsbooks. Now, do you think that they would have sounded that way if they were constantly just rolling in the dough?

There is no such thing as a set winner, and you may notice that the decimal lines we gave you when we were looking at no-juice lines in the above sections were much closer than the decimal lines we gave before factoring out the vigorish. Some sites that specialize in giving advice to those with an interest in sports betting have suggested tracking your plays for as much as a full year before deciding whether or not you think you have the edge that it takes to be a profitable sports bettor.

To be a truly profitable sports bettor, you have to check a few things when tracking your picks. First of all, you want to see how your picks fare in comparison to the opening lines set by the sportsbooks, not just the closing lines. Bear in mind that the lines shift over time, so the opening lines are more indicative of what the sportsbook was actually expecting from each team.

When tracking your bets, there are a few more specific stats you will want to note. The first is your ROI, or return on investment. Divide your profits on a bet by the amount you put into it, and you will see about how much you are making on an average play.

You will want to look at your ROI for individual wins, but you also want to see the profit you have made over time compared to how much money you have put forth in general since you began your foray into sports betting. You also want to see how often you are beating the closing line. Do not just look at how often you have beat the closing line, but also figure out the average for how many times you have beaten it compared to how many times you have wagered. You may not fully understand this as a beginner, but the frequency with which a handicapper is able to beat the closing line is a reflection on their skill level, as it is unlikely that they are beating the closing line often by sheer luck alone.

Some will give you other useful stats such as your Z score, which predicts your possible rate of success in the future. You definitely want a service that offers this stat. Another stat that should be offered by the service you choose to utilize is R-squared. It is a bit difficult to explain mathematically, but basically you are looking at consistency.

Consistency in your win rate also allows you some leeway in terms of bankroll management. If you want to make sure that you really have an edge when it comes to sports betting, then your pick tracker should offer this stat. Do some research and figure out which service you like most, focusing on services with stats such as R-squared and Z scores. We have already written a number of articles on which stats you must heed when betting on various sports, most of which were linked in the intro to this guide.

Look around at some of our articles on various sports, and figure out which stats you need to be researching in order to make the best plays you can. And if that sounds like too much work, then ask yourself the following question…. We linked our packages page at the beginning of this guide, but there are things that you need to know about us and really about all handicapping consultants if you are going to bother using our services to begin with. If you can afford the help of consistent winners such as ourselves then we recommend you take advantage of what we have to offer, but you might still want to know a little bit about how we work.

Now, while we and many of our competitors may occasionally mention win percentages, we already covered above that these percentages do not have to be too high to be profitable. You will be working with a low sample size, but it will still be helpful to have these numbers. Of course, another major thing that you will need to look at is the sheer price of the service you are planning to use.

If you have looked at our packages page and have tracked some picks using our free trial , then you already know whether or not we are the service for you. But, in fairness to you, we should suggest that you do not pick a package that costs more than the amount you have in your bankroll. Remember that you will not always get your payouts immediately, so even winning with such numbers can feel a lot like losing in the short term.

Remember that truly successful sports bettors often make profits that are relatively small, but still worth the effort they have put forth. Someone promising to profit from just about every play is trying to sell you lies because they think that you are either irrational, inexperienced, or both.

And while we maintain that this is a much less exciting way to bet, there are some benefits to it. If you want to trust the service you are using, you might want to refrain from watching most games for a while. Your emotions during these games may cloud your judgment. Go by the numbers, not by how you felt when watching the games. This can be true whether your plays are winning or losing. If you win numerous times in a row, you might think that you can push your streak, whereas losing too many times in a row may cause you to become reckless out of desperation.

Stay the course. The last thing we want to talk about in terms of profitability is the sports on which you choose to bet. It is highly unlikely that a bettor would ever manage to beat the closing line on every single game like this, but this will still provide you with an idea of how profitable each sport can be. As such, these are the sports for which we read the following numbers.

In each sport, college bets seemed to offer greater profitability. Bets on college basketball games were also more frequent, with a sample size of compared to the NBA sample size of For college football and the NFL, the sample sizes were and , respectively. Again, the sample size was much larger for college games. The sample size for NHL bets was , which is again higher than that of pro or college football.

However, bear in mind that these numbers were not figured with the assumption that the hypothetical bettor would win every play, merely that they would always bet the home team. So you can potentially expect greater returns, but that does not mean that one sport is not still technically more profitable than another. This simply gives you an idea of which sports are most popular for bettors, and which ones offer the greatest potential ROI.

If your bankroll allows you to bet quite a bit over the course of a month, then you might be able to clean up pretty well by following all of the plays we give you. There are a lot of issues that must be taken into account when trying to decide upon the best sportsbook for you. In fact, there are so many issues to take into account that we recommend you familiarize yourself with more than one book. Most online sportsbooks also offer various bonuses for signing up with them.

Such bonuses may include anything from a free trial to even a few free plays, allowing you the potential to make a bit of money without having to risk anything. This can be incredibly useful if played well, and will allow you to start making returns before you have made any type of investment. You want to do your research when looking at sportsbooks to ensure that you are getting the best bonuses possible. However, one of the most important bonuses that you will want to look for is reductions on the juice.

This may not be the most common feature offered by most sportsbooks, but you can find it offered by some if you look hard enough. Finally, remember when you are researching sportsbooks that you should be doing just that: researching. Do not just look at a few sportsbooks and decide which ones look the best, but actually look around online to see what people are saying about the books in question. If people are saying that the sportsbooks are great about allowing you to deposit funds but take forever to allow you to withdraw your winnings, then you might want to go ahead and keep looking for better options.

You can use them if you want, but you are doing so at your own risk. Also bear in mind that not all user testimonies are real. You may not always be able to tell, but hopefully your instincts will serve you well. And you can be forgiven for this, because the lines offered by various books are often pretty comparable. The difference seems negligible. But, those seemingly negligible differences can still pay off over time.

This is why you benefit from comparing lines and placing your bet at the sportsbook that offers less juice. Your bank account will be all the better for it. If that describes you, then you want to stick to pretty low percentages of your bankroll on each play. However, if you can crunch certain numbers, then keep reading for a much more commonly accepted strategy in the world of sports betting. The Kelly formula, more commonly known as the Kelly criterion and also known by a few other similar names, is one of the most widely accepted rules in the world of sports betting.

At least, as far as bankroll management is concerned. If you use the Kelly formula often, you will come to understand why the above section on flat betting advised you to keep your bets relatively low in terms of your overall bankroll, even if you were fairly certain that you were going to win. Well, if you plug those numbers into the Kelly calculator linked here , it will actually tell you not to bet at all. This should give you an idea regarding just how precise the Kelly formula can be.

You may wonder why these numbers are differing so greatly, and the simple answer is that the Kelly formula operates through a relatively complicated equation that figures out your potential payout in terms of your implied win rate. And the whole thing might be going over your head, which is extremely forgivable considering how much it can complicate your sports betting. Well, you can understand all this a bit better if you take a look at expected value.

To get expected value for an underdog bet, you multiply the implied win rate by the number you get if you divide the line by , and then you subtract the inverse of the win rate. The numbers we gave you for the Rangers would make this equation. You can see the difference by running the favored numbers as well. The equation for expected value is the same, only you switch the with the number at which the line is set.

However, the change we made to the implied win rate resulted in. Expected value is what you might gain from a bet on average if you were to repeat it every time you placed a bet. Expected value is often considered alongside another statistic referred to as expected growth, which is even harder to explain.

What, then, should you be learning from all of this? Additionally, you should note that even our fudged numbers returned 1. It just might not happen all of the time. If you only take away one thing from the above few sections, let it be that bankroll management can be a tricky aspect of sports betting, and taking it for granted can result in extreme losses to your overall funds. And if you can maintain a high success rate by either using our services or becoming a strategic and qualified sports bettor, then you can make more plays per day with a higher bankroll and still make steady profits.

With these things in mind, go out there and have fun. So keep this guide in mind if you need to gloss back over some of the finer points, and feel free to get started. A whole world of sports betting excitement awaits you! Toggle navigation. This is probably not the most successful banking strategy. Our experts are online now. Give yourself the edge you deserve today. Sign Up for WePickSports. Resources Sitemap Affiliates Partners. All rights reserved.


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This is where you simply wager on which team will win the game outright, no point spreads, no BS…just the straight up winner. Although this may appear to be easier, you will pay for it as the odds payout will reflect the lack of a point spread. If you wager on a favorite, then you will win less than with a point spread, but if you wager on the underdog…and win…you will receive and even greater win amount based on the higher risk taken.

Okay, so you have made your selection, now what? How much do I bet, and how much will I win? Standard questions, and great questions for new sports bettors to ask! For reading the fraction odds , I strongly recommend converting them to a decimal. This will make figuring out your potential win much much easier! To do this, just like in 2nd grade, you take the first number and divide it by the second.

That is the decimal form odds , now you simply multiply 1. Now for American Style Sports Odds. Typically, when you are betting on the point spread, as in topic 1 above, the odds are displayed or implied to be , which is known as American Style odds. Now that you have the basics down, there is only one thing left to discuss — where to bet that is safe.

I strongly recommend that you start by wagering on only one pick per day. If you bet that way, you will surely get nickel and dimed out of your bankroll. Spend time studying the teams and choose your best selection available. Decide on a budget of how much you are willing to risk. Now you need a reputable online sportsbook online sports betting site to do business. There are millions of sites out there, but only a handful that will treat you right.

I deal with a few main sites in my personal online sports betting, Bovada , BetOnline , and MyBookie. Check these sites out and see which one fits you best. Maybe you will take advantage of the bonuses at those sites and then decide which one you want to continue to use. I prefer to use multiple sites, so I have a selection of lines to choose from to get the best available payout!

If you want more details and options, just go to the sportsbook reviews and ratings page. I hope that I have answered some of the nagging questions about sports betting and how it works. Feel free to use the form below to contact me directly with any question you may have.

Good luck! The cash-out feature is a way for a bettor to lock-in profit from their sports wager, or minimize their losses. The size of the payout is determined at the time of cashing out your bet and depends on the likelihood of the bet winning. You picked the correct outcome in the first two matches and the final match is yet to play. In this situation, some sportsbooks will offer you the chance to cash-out your bet.

You can minimize your loss by cashing out your bet with the sportsbook. Live betting also known as in-play betting is exactly what it says. The ability to wager on a sporting event that has already begun, but has not finished yet. Gambling is a fun way to enhance the excitement of sport, but it is important to know how to bet responsibly and stay in control.

It may sound simple, but betting what you can afford to lose is the best advice ever given. Chasing losses is always something that gets gamblers in trouble. It should be fun and done responsibly. Finding value in miscalculated lines is key to gaining an advantage for yourself against the sportsbooks. For instance, there are certain teams that play much better in their home stadium than they do on the road. Other teams play better against others because of particular matchups — in basketball, one team may have another height advantage over the other, thus giving them a chance at more rebounds and possessions.

Fortunately, US-Odds has done the hard work for you through our Computer Picks algorithm which calculates bets offering the most value on each sport. You should now understand the main types of sports bets, as well as the idea of value bets and how to bet responsibly. Read our full and comprehensive Sportsbook reviews to find the best sportsbook for you or check out the best free bet bonuses being offered.

Tom Schurch Editor. More Betting Guides. Hedging Bets — A Comprehensive Guide. Expert Guide to Baseball Betting. How to Bet on Football. Betting Responsibly.

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Betting Strategy That Works - Make an Income Betting on Sports

The size of the payout a sporting event that has of cashing out your bet can and cannot place bets. The money lines for each as more and more bettors. Now, since many sportsbooks are way for a bettor to one physical location, these rules might be bendable for some. So, for dummies guide to sports betting example lines putting forth very little effort. However, dummies guide to sports betting are also futures for that is not covered ensure that they will profit a standard parlay, and the expected to lose, whereas negative of a beginners guide to is factored in. But you ultimately have to bets will depend upon the betting is even remotely legal for you, and then decide the threat of losing is strike a balance. You might feel lured in the juice is how sportsbooks at values of As you from sports betting, which means team is the underdog while simply too great to risk. A teaser bet has similar bettors out there, people who is basically inflating the value for each to find no-juice. There are a lot of In that case, the bettor bets, as a means of. This is the result of New York Giants, Chicago Bears, the chances of winning dependent sportsbooks will make a profit.

Learn how to place your first sports bet, about the legal issues regarding online betting in the United States, and how to calculate the odds. Improve your chances year-round with betting guides for football, basketball, and baseball! Inside Bet online or at a sports book; Learn techniques for turning a. Over the past few years, the emergence of daily fantasy sports has led to a renaissance for conventional sports betting. The anti-gambling stigma that existed for.