Over the last decade, sports betting has emerged from nowhere. Eventually, it turned into a multibillion-dollar industry. Bettors across the world can now bet on their favorite kinds of sports.
If you feel like betting at GameBoss, you may need some guidance. Practical tips can make your betting experience more efficient.
1. Favorites vs. Underdogs
When oddsmakers introduce a betting line on a game, they should decide which team is the favorite and which one is the underdog.
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The favorite is the team that has a high winning potential. So it gets a minus sign next to its odds. The underdog is the team that will most likely lose. It gets a plus sign. If the game is a toss-up, oddsmakers will establish the odds as “pick” or “pick’em.”
2. Spreads
To bet on a favorite or an underdog, you will focus on the margin of victory. Let’s say Manchester United is 7-point favorites against Manchester City. They’d get the odds at -7.
If you bet on Manchester United, you need to win the game by at least 8 points. In this case, you are covered. If the team wins by exactly 7 points, you will the stake size back. If the team wins by 6 points or fewer, you become a loser.
Spreads are available for different kinds of sports. They are used for betting on high-score sports like hockey and tennis.
3. Moneylines
The moneylines are based on the team that will most likely win the game. The potential payouts can be estimated by means of American odds. Favorites get a “minus” designation, such as -100, -150 or -300. If a favorite is -150, you have to put $300 at stake to get $150 back. If the favorite becomes a winner, you get $100. If the favorite loses the game, you’re out $200.
The moneylines are available for all kinds of sports. They are predominantly used for betting on low-score sports like basketball, baseball, and tennis.
4. Over/Unders or Totals
By drawing a line between the favorite and the underdog, oddsmakers try to predict a total number of points scored in a game. Bettors can then bet on whether the game goes Over or Under the total. For example, a Premier League game between Manchester United and Manchester might have an odd at 215. You can bet the Over 215 or the Under 215.
5. What Is the -110 Number Listed Next to My Bet?
Every bet features a tax, known as the “juice” or “vig”. The juice is considered to be the commission you have to pay to the sportsbook approving your bet.
Say Manchester United is -4 (-110). So if you want to bet on MU as a 4-point favorite, you should risk $105 to win $100.
The juice can be a positive number, such as Manchester City -7 (+110). So if you bet $100 on MC as a 5-point favorite, you win $105. If you lose, you lose only the $100 that you put at stake.
6. How to Place a Bet
With legal sports betting, sports bettors have plenty of options at their disposal. Make sure that sports betting is legal in the country of residence.
Some of the major countries that have legalized online sports betting include Brazil, Canada, Argentina, the United Kingdom, China, Colombia, and so on. Finding a sportsbooks there shouldn’t be such as a big problem.
7. How Much to Bet
Sports betting is a marathon, which takes much time and effort. It also requires certain investments. When you place a bet, you should estimate its size. Well, this decision shouldn’t be random. Make sure to analyze everything in detail. Are you sure about your bet? Is there a high winning potential? The answers to these questions should make you place a small or big bet.
By using a flat-betting approach, bettors guard themselves against losing their budget during a bad stretch. It also helps them set themselves up for a positive return on investment (ROI).
8. Rotation Numbers
Rotation numbers are located on the left side of the team’s board. They are known as the NSS number or Vegas ID number. They are different for different sportsbooks. For example, if you see the number “312” located next to Manchester City -120. If you want to bet $100 on Manchester City, feel free to bet $100 on 312, MU -120.
9. Shop for the Best Line
Lines vary from one sportsbook to another. This has something to do with different audiences. As a result, one sportsbook may post the Cavs -7.5 while another has -6. Having access to one sportsbook allows you to look around for the best line. Acquiring an additional half-point is a great deal, which increases your chances of winning.
10. Identify Your Strengths and Weaknesses
You want to make sure you’re monitoring your progress. With the right bookmaker, you will get access to the best markets, odds, and bets. And that’s important because you can make your strengths and weaknesses clear. Are you more successful betting on the European League or Champion League? Do you succeed in player props or over/unders? Make sure to know these things well. You can maximize your winnings in this way.
