When you open this account, be sure you invest enough money to cover your bankroll for an entire season or year, not just a single game. [1] X Research source To ensure you have enough money, multiply your base bet by at least 100, and that’s the minimum amount you should keep in this account at all times. If you’re new to sports betting and don’t know your base bet, put in whatever money you have set aside for this venture and determine your base bet on the size of your bankroll (each bet should represent one to two percent).
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For instance, while each bet should represent about one to two percent of your bankroll, you can reduce this to 0. 5 percent if you aren’t confident about a bet. Similarly, you can increase the bet if you’re very confident, but never place a bet that exceeds four percent of your bankroll. There are also some experts who say never to place a bet if you aren’t confident, because it’s better to walk away and find a better bet that you feel good about. Many experts recommend not betting on your home team in any sport, because your bias can cloud your judgement, and this can lead to great losses. [3] X Research source
Don’t be afraid to walk away from a bet right before the game. Odds change, lines change, and point spreads change, and if you’re no longer confident about a bet, either don’t make it or reduce the bet.
The opposite is also true: don’t chase a good bet (one where you won) with more bets in an attempt to win more or double your money. Have a betting schedule or routine and stick to it.
“Going on Tilt” was a term developed when sports bettors let their emotions cloud their best resulting in losing their bankroll.
For instance, if a moneyline is Toronto Maple Leafs -200 and Vancouver Canucks +155, it means you have to bet $200 on the Leafs in order to win $100, or you have to bet $100 on the Canucks to win $155. The team associated with the minus number (the Leafs) is the favored team, while the team associated with the plus number (the Canucks) is the underdog. Many gamblers bet on the moneyline in hockey and baseball, because the scores are lower and point spread betting doesn’t make as much sense in these games. However, you can bet on the moneyline for almost every sport. [5] X Research source
For instance, if a point spread is Detroit Lions +4, New England Patriots -4, you would bet on whether you thought the Lions would win and if they’d win by more than four points. [6] X Research source Again, the team associated with the minus is the favorite and the team associated with the plus is the underdog.
These bets often offer large payouts, but they require a great deal of accuracy. [7] X Research source
The best time to line shop is about an hour before a game. [8] X Research source To get the best value, consider opening accounts with at least three books.
For instance, if you’re betting on a baseball game and think the Yankees are going to win, you might still be better off placing your bet on the Jays if the odds are right. [9] X Research source
For instance, in a basketball game between the Raptors and the Knicks, you would place a bet for the Raptors and then match that same bet against the Raptors. Matched betting is all about taking advantage of free bets and betting for both possible outcomes on the same game, so this type of betting is as near to risk-free as you can get in gambling.
