Sports betting has become incredibly popular in recent years. As many states in the US have made moves to legalize gambling, the number of people placing bets on sports has risen exponentially. It has also been made even easier since the move from street bookies to online sportsbooks. You can now bet on your favorite sports in minutes using your phones, tablets and laptops. The changing dynamics in sport also mean that more women are now wagering as well.
In the US, the most popular sports to bet on are football and NBA. However, football is the most popular by quite some way. Last season’s Super Bowl saw a record 31.4 million American’s wager on the big game.
We are now well in to the 2022 NFL season meaning more of you are probably wagering yet again, hunting for some of the best odds and markets on the league and on the Super Bowl in the future. The NFL odds currently have the Bills as favorites to win this year’s Super Bowl. If you are new to betting, you may be tentative to get involved just yet. But fear not. Here are some key tips when it comes to sports betting to help you on your way.
Know The Markets
First and foremost, it is important to know exactly what you are betting on. Some betting markets may seem similar but have subtle differences and it is important to differentiate when necessary. Take time to learn about each individual market before you place your bets and maybe even look into the more niche ones where there could be money to be made. By familiarizing yourself with all markets you give yourself a head start in the build up to kick off by saving yourself time and knowing exactly what it is you are wagering on.
Know Your Odds
Once you understand the market, learn about the odds that each sportsbook sets. Sportsbooks will price their markets with positive (+) and negative (-) numbers. A positive number will tell you how much you would win on a $100 bet whilst a negative number outlines how much you would have to wager to win $100. For example, lets say the Chiefs (-200) are playing the Raiders (+400). In this scenario, a $100 bet on the Raiders would win you $400 whilst a $200 wager on the Chiefs would win you $100.
Listen To The Experts
Let’s be honest, when it comes to sports fans we all think we know best. Sometimes we think we know even better than the players and coaches. But don’t let that pride get in the way of the bankroll! There are tons of experts who dedicate thousands of hours between them to producing sports content for betting and fantasy football. They often look at statistics and trends that the rest of us probably don’t have the time to look at. As well as doing your own research, look to the experts for help with your bets.
Shorter Odds, Long Term Success
Every sports bettor is partial to a ridiculously long priced parlay in their time. The lure of longer odds that offer thousands in winnings from low wagers is enough to see us part with our common sense for a few minutes. And sure, it’s fine to make a fun bet every now and then, but it is important not to make a habit of it. Research the markets beforehand and evaluate the prices with stats and data. This is not to say that you may find an outlier every now and then though, and there are often player props that may be slightly overpriced according to the data. However, you are much better off betting on shorter odds at slightly increased wagers. Don’t forget that however much you think you know your stuff, the oddsmakers know even more. Longer odds are longer odds for a reason so choose wisely come gameday.
This may be the most important piece of research of all on a sports bet. Whilst you may be focusing on shorter odds as previously mentioned, no bet is ever a dead cert no matter the odds. The best piece of research you can do is working out how much you can wager to make a profit whilst also not making huge losses if it does not go your way. By bankrolling your bets appropriately, you are more likely to be in profit in the long run. Even the professional sports bettors lose, and they will follow this tip religiously. Make sensible bets and you will reap the rewards.