How Can I Win Money Betting on Sports? Here's How the Pros Do it - Do You Have What it Takes?
Let's be completely honest - casinos and sportsbook make money - and LOTS of it. The odds are in their favor and for the most part they can sit back and watch the money come in. After all, you can't argue with math.
However, with sports betting it is possible to "pick your spots" and make profitable wagers over the long run. That's exactly how we approach it - each bet we make is like a mini-investment that we are confident will boost our bankroll over time.
I like to compare it to how Warren Buffet invests in stocks - he doesn't just gamble, but rather studies each company long and hard before he dives in. By the time he makes his decision he understands the numbers behind the company and the business inside and out.
To a certain extent, it's the same when wagering on sports. When we handicap games, we study the numbers and math behind the game, and any qualitative factors that may impact the result. There's a lot to consider, but by taking a methodological approach, we're able to greatly increase our winning percentage.
There are times when you can exploit a betting line to your advantage. Sometimes the odds aren't quite "accurate" and present an opportunity.
Remember that bookmakers simply want to get an even amount of wagers on each team in order to capture the "juice". Traditionally you have to risk $110 to win $100. So if a sportsbook has $110 wagered on each team, when the game is finished they will take in $110 and payout $100 - resulting in a net win of $10. It ends up being risk free profit for them if they can split the betting opinion.
For this reason, the line isn't set purely off of mathematics - it also takes into consideration what the public is likely to do. As an example, the lakers have a massive fan base and the oddsmakers may just set a line slight more in the lakers favor as they expect more people to naturally want to be on LA. It may not be mathematically correct, but it helps them accomplish their goal of splitting the betting.
Profitable sports betting isn't simply about following a hunch, it's about properly analyzing the games and the math behind the odds in order to find an edge.
It's not an easy living, but it's a lot of fun when you can consistently beat your bookie.
Let's be completely honest - casinos and sportsbook make money - and LOTS of it. The odds are in their favor and for the most part they can sit back and watch the money come in. After all, you can't argue with math.
However, with sports betting it is possible to "pick your spots" and make profitable wagers over the long run. That's exactly how we approach it - each bet we make is like a mini-investment that we are confident will boost our bankroll over time.
I like to compare it to how Warren Buffet invests in stocks - he doesn't just gamble, but rather studies each company long and hard before he dives in. By the time he makes his decision he understands the numbers behind the company and the business inside and out.
To a certain extent, it's the same when wagering on sports. When we handicap games, we study the numbers and math behind the game, and any qualitative factors that may impact the result. There's a lot to consider, but by taking a methodological approach, we're able to greatly increase our winning percentage.
There are times when you can exploit a betting line to your advantage. Sometimes the odds aren't quite "accurate" and present an opportunity.
Remember that bookmakers simply want to get an even amount of wagers on each team in order to capture the "juice". Traditionally you have to risk $110 to win $100. So if a sportsbook has $110 wagered on each team, when the game is finished they will take in $110 and payout $100 - resulting in a net win of $10. It ends up being risk free profit for them if they can split the betting opinion.
For this reason, the line isn't set purely off of mathematics - it also takes into consideration what the public is likely to do. As an example, the lakers have a massive fan base and the oddsmakers may just set a line slight more in the lakers favor as they expect more people to naturally want to be on LA. It may not be mathematically correct, but it helps them accomplish their goal of splitting the betting.
Profitable sports betting isn't simply about following a hunch, it's about properly analyzing the games and the math behind the odds in order to find an edge.
It's not an easy living, but it's a lot of fun when you can consistently beat your bookie.
