For the beginning sports bettor, some simple sports betting tips for basic betting “best practices” can be quite helpful. Indeed, even the experienced sports bettor might find a bit of advice useful to help increase the effectiveness of his or her strategies. While, of course, these sports betting tips aren’t all encompassing, they give you some good rules of thumb to follow when placing bets.
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An example of this could be the traditional coin toss. I choose heads and you choose tails. If you flip tails, I would owe you, say $1.05, if you were to flip heads, you’d owe me $1.00. As this is always going to involve 50/50 odds, over the long term, half of the time you would be making $0.5. This would give you a +2.5EV and me a -2.5EV.
Sports bookies sell +EV bets at a higher price, as of course, the bookie themselves need to turn a profit. This usually entails similar pricing of both +EV and -EV, which can help offset potential losses. You would think that this is like any other gambling endeavor, where the “house”, or in this case the bookie, always wins, but this isn’t the case. The results of actual bettor behavior can cause a bookie to have to adjust the line to offset potential large losses. Regardless, it is always a good rule of thumb to place +EV bets.
Sports Betting Tip 2 – Go Line Shopping
This is one of the most useful sports betting tips and it tells you that line shopping is essential. Once you have determined the team you are going to bet on, based on +EV, it is vital to shop around. You can likely make wagers on other books that will allow you to choose your winner and make further profits without the level of capital output required by playing just one book.
Sports Betting Tip 3 – One Point Rule in Basketball
Most of us tend to stick within the same sport when it comes to our betting, as we have more knowledge, and thus feel we can make more informed decisions. If you’ve been successful in football or baseball betting, your strategies employed will also translate to basketball. Find a line that is one point better than the majority bet, and place your wager there.
Sports Betting Tip 4 – NFL Strategy Teasers
This is a complex strategy that involves choosing favorites on books with -EV values and so-called “underdogs” at +EV values, only choosing those of low cost, of course. This gives you the potential to “round-robin” your bets, leading to maximum profitability. To learn more about this strategy, do a quick web search on “Basic Strategy NFL Teasers” for more details.
Sports Betting Tip 5 – Bankroll Management
A common rule of thumb that will allow you to be an overall, successful bettor is to never wager more that 5% of your bankroll on any game or bet. This is one of the most important sports betting tips because it will always ensure that any losses are manageable and that you stay afloat in the end.