Do you ever make money betting on sports? More and more sports fans are starting to add betting action on the games they love to watch. With this, more and more of these fans are quickly finding out that making money betting sports is not all that easy to do.
Given the sportsbook industry’s standard 10% commission (juice) on losing bets, you need to be right 52.4% of the time as a breakeven point.
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Make Money Betting on Sports
This means that for every 10 sports wagers you place, you need to be right in at least 5.24 of those wagers. That can be a very tall task for the average player that has the tendency to bet with their heart as opposed with their head. Smarter bettors are understanding what it takes to make money betting on sports.
Putting money on your favorite team because you want them to win is one of the easiest and quickest way to drain your betting account. You do not have to be an expert professional sports handicapper to improve your overall winning percentage.
However, you need to identify the common pitfalls that lead to losing results for an average recreational sports bettor.
Use a Professional Handicapper’s Picks
A great way to do this is mirroring the approach that pro handicappers take when releasing their “best bet” sports picks.
At the top of the list is removing any bias from the decision-making process. This could actually entail avoiding the urge to bet on your favorite teams. The smarter approach is focusing on a particular league as a whole.
As far as betting pro leagues in the US, the most common list includes the NFL, NBA, MLB and NFL. There are also pro leagues in the US covering a variety of other betting sports such as golf, tennis, soccer, motor sports, boxing and MMA fighting. Wagering menus at online sportsbooks offer a near infinite amount of options.
By taking an active interest in an entire league, you will be able to make the most of your handicapping skills when betting individual games.
Make Money Betting on Sports Using Familiarity
Within that league, you should also focus your attention on the most played matchups. This includes specific division games and contests within the same conference. Familiarity within any head-to-head meeting offers a higher level of predictability.
For example, the NFL scheduling system has inter-conference games where the two teams only face one another once every four seasons under normal circumstances. Yet, every NFL team faces its division opponents twice a season.
The NBA, MLB and NHL offer far more crossover opportunities for inter-conference opponents. However, it still makes betting sense to focus your handicapping and sports betting activity on games offering a high level of familiarity between the two teams.
Another important aspect of any betting strategy is proper money management. Your sports betting bankroll should be made up of discretionary funds that can be lost with no financial detriment to your household budget.
Do Not Chase – Set a Daily Budget
Never chase a losing bet with another wager to try and get even. You should always determine a level of confidence for every bet you place. This starts with a high level of confidence and then works its way even higher from there.
Too many recreational sports bettors make the fatal mistake of placing wagers just to have action on the big game.
Unless you already have a high level of confidence on the projected outcome. Get into the habit of watching those showdown matchups for fun. Save your real money bets for your highest confidence plays.