Sports betting is certainly a challenging type of betting and other than its apparently seeming lack of strategy and complete reliance on any knowledge of the event, the truth is, good sports betting actually relies on a great deal of strategy which must be used in order to win. (More info).  The most important tactics include a close analysis of the information upon which a sound judgment must be based and after which the bet must be placed. To have a winnning strategy, you must take these factors into account:

1. The amount of the bid

2. The kind of bet

3. The offer odds

Sportsbooks in the US and Bookmakers in UK are businesses that accept sports bets. The bets can be placed predicting the outcome of quite a few sporting events like Baseball, Snooker, Basketball, Hockey, Soccer, Football, Tennis and hundreds of other sports and atheletic activities.  Let’s go over the absolute basic definitions: a sportsbook is the one who accepts the sports bet. An oddsmaker is the one who sets the odds of the bet.

Betting the Odds

In order to place a bet, first you must choose the type of bet you will make and the amount of money you will wager for it. This usually depends upon the odds that are currently being offered. Before ever placing a bet, carefully crutinize the range of all the odds.

The odds must be in the ratio of at least 2:1 for the bet to be worthwhile. Also take into account the total amount being given by way of commission to the sports-book. This should ideally be a minimal percentage of the entire value of the odds.

Below is a cheat sheet of the most commonly known kinds of bets:

1. Single or Straight Bet: This is betting in its most basic form and allows you to the option of betting at given odds, upon a winner.

2. Point Spread: By betting this type of bet, one can bet on one of two selections that have been equated through the allocation of suitable points. In the Point Spread, the number of allocated points are presented with a + sign for the favorable side and a – sign for the underdog. In order for the better to win, when the favored team must win by more than the Point Spread. On the other side, if a bet has been placed on the underdog, that team has to lose by less than the Point Spread for the better to win.

3. Buy Points: This involves moving the Point Spread positively, by paying a price.

4. The Moneyline: This type of bet is simply on who will win. It establishes the odds for each side but is the reverse of the Point Spread, with a – sign standing for the favorite and the + sign for the underdog.

5. Total Bet: This kind of bet is similiar to  point spread bets, only in that the better bets on the total points scored.

6. Over/ Under: This is a bet as per which the number of points scored by the teams in any game will be beyond/ over OR below/ under the total set by the oddsmaker.

7. Parlay of Accumulator: This is betting on multiple sporting events in the hope that will pay off big if all win. The picks made are in relation to the point spread. Even if one event does not win or draw, the better loses the entire bet. Huge amounts can be made through parlay betting, in the event of a win.

8. Teaser: A teaser is similar to a parlay, except it has the option of adding or taking off points from one or more than one Spread bets. The odds depend upon the number of points the spread is moved as well as upon the number of teams that are combined to form the teaser.

9. Futures: These are bets on who will win the championship if there are more than two possible teams to bet on. Substantial variations between sportbooks exist in house edge on futures.

10. Buying Half a Point: With this, the straight bet player has the option of moving the point spread half point to his advantage. The best time to buy a half point is when one team is favored by 2.5, 3, 6.5 or 7 in football. This is primarily due to the fact that several games end in a 3 or 7 point difference. The extra half point may end up turning a loss to a draw or a draw to a win.

Of all these types of bets, three types of bets are prominent and must be used for the simple reason that they are simple themselves, are easy to win and have a good chance of winning. These bets are the Straight bet, the Doubles and the Future.

Some betting tips are:

1. When placing a bet, always do an intelligent analysis of the odds and the offer of the bet.

2. For the simple bet, stick to the Straight bet as it is non-complicated and has good winning prospects.

3. Keep your selections limited. Also, limit the amount of influence in your betting.  If you are a fan of a team try to limit the effect of that favoritism when placing bets.

4. One of the highest paying bets is the ‘Future’ bet but only if you know a lot about the sport being played and about the players.

5. By making sure your betting is systematic and analytical, you will improve your judging ability.

6. Do not rebet with your winnings immediately. If you do not follow the standard rule of 50%, at least put some of your winnings back into your pocket.

7. When choosing a sportsbook, make sure your sportsbook is a member of a known Gambling Association, is known for quick payment and is easily accessible. Take careful consideration about matters pertaining to disputes.

8. Find value odds and train yourself to see them – you will master this art soon, with time and practice.

9. If deciding between two seemingly equivalent choices, trust your judgment and not that of those who have bet before you.  In this case, choose a selection with a little higher risk so as to hike up the winnings.

10. Bet on games and leagues where the sportsbook’s commission is the least.  This is most often in the sport or sports with which that sportsbook does most of its business, as it is likely the most efficient in that area.

Now that you have a better handle on sports betting, you may want to consider using a sport handicap.  You can read a review on one of the best handicaps on the web right here: the Champ Selections

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