The world of sports betting is exploding as it becomes legalized in more and more states across the United States but many bettors are just throwing their money away as they are going into this without a plan. You wouldn’t spend money shopping on Amazon without an idea of what you are getting so why do that on your wagers?
Today, we are going to talk specifically about NFL betting to understand Vegas NFL odds, but these thoughts are simplistic enough to understand and apply to every sport that you are willing to wager on. Understand Bankroll Management
Do you think that this bet is a lock and want to put all your bankroll on it because it will net you a lot of profit? Don’t do that. Think of your bankroll as a pizza pie and you do not want to go grocery shopping. Use a small chunk on wagers to guarantee that you still have skin in the game in case the game does not go the way you predicted it would for whatever reason.
I highly recommend breaking your bankroll into percentages and figure out how much you are willing to spend that way. Using percentages is going to make you think twice about risking it all and having to deposit more money. Using a maximum of 25 percent of your bankroll on a single bet is a principle I follow so I don’t have to deposit more money and continue to use sports betting as a profit maker instead of a money loser.
Bet Lines, Not Teams
This is something that 99 percent of people that wager on sports games do not understand but once it clicks, it will make you a lot more profitable. Look at the odds and focus on that more than the teams playing. Vegas and the rest of the sportsbooks, like BetUS are banking on the public to bet on the Yankees, Cowboys, and the rest of the popular teams blindly instead of looking at the odds because that is how they recoup their money.
There’s a reason why if you dabble with just moneylines instead of spreads, they are usually sitting at -180 and higher every time you look. It’s because the oddsmakers understand that they will not get the better profit there as the big favorites are more likely to win and the majority of the money will be there. They aren’t going to win every game and if the team wins like they are supposed to, it will be less of a hit to their bottom line there.
Don’t Be Afraid of Betting Big Favorite
One thing that I love to do when wagering is place money on big favorites and bet live games. There’s a mindset I like to use while betting: winning a small profit is better than not making anything. While I’m waiting for one wager to hit or even before the game goes live, I’ll search wherever I’m betting for big favorites (usually -2500 and higher) and sprinkle some money on there to increase my bankroll.
But live betting heavy favorites take a lot of the guesswork out of betting because you already have some game to use as a frame of reference and a lot less time to wait for your wager to be settled. I typically use a good percentage of my bankroll and dedicate it to that. Try to win a few extra dollars in between your highly-researched bets to increase your bankroll and continue making profits.
If you enter the betting world with a plan on how you are going to attack, instead of “going with your gut feeling”, it’s not as difficult as you would think. It takes time to understand and develop a game plan but take everyone’s stories and develop it and save yourself some money. Get started now, at BetUS!