Want to make money out of sports betting? Don’t we all! If only there was a short cut. Or a guaranteed system that would ensure you make a load of money. Unfortunately, this is simply not the case. Betting on sports betting can be hugely rewarding, not to mention profitable. But it is easy to lose too. Especially if you do not know what you are doing.
This is where come in. We want to help you to make cash out of betting on sports. That’s the dream, right? So our guides will give you everything you need to know to get started. A total beginner? Never placed a sports bet before in your life? It does not matter. The basics are easy to learn. More of an intermediate gambler, with some experience, but not lots? Great! That should be an excellent foundation to get you on your way.
So what do you need to know to be profitable when betting on sports? Read on to find out!
How to Win a Sports Bet?
We’ll start at the beginning. Winning a sports bet means successfully predicting the outcome of a match. This can be on just about any sport you can think of. Bookmakers nowadays offer vets on a massive array of sports, with a huge choice of markets to pick from as well.
Let’s say Manchester United are playing against Liverpool in the Premier League. You think United are going to win the match. So your bet is on a United victory. If United win the game, your bet is a winner! But if the game ends in a draw, or Liverpool win, your bet loses. It really is that simple. Of course, some bets can be more complicated. But the basic idea remains the same no matter what market on which sport you have chosen to have a bet on.
Picking winners is obviously a bit more difficult. If it was that easy, the bookmakers would not be as rich as they are. But there are a few ways you can get ahead and start beating the bookies. One of these is to stick to what you know. As we have mentioned, there is a lot of choices. But you do not have to take advantage of all of the different markets that are on offer.
For example, let’s say you do not know anything about golf. Although the bookies will have offers and promotions on the big events, you do not have to bet on them. Unless you are confident, steer clear. Stick to what you know, whichever sport that might be.
Some markets are also more straightforward than others. You will usually be predicting a straight outcome. Like we said earlier, United to beat Liverpool, for example. But those who are at a more advanced level of betting on sports might want to dig a little bit deeper.
The point spread and handicap markets are two of the best ways to make money out of sports betting. So let’s look at them next. First up, what is the point spread and how does it work?
The Point Spread
Odds can be difficult to understand for those new to sports betting. And this is certainly the case when it comes to the point spread. This is usually used for American sports. So if you want to bet on baseball or NFL, for example, you need to know about how the point spread works.
In short, point spreads are used by the bookies to generate interest in a match. If a game is expected to be one-sided, there may not be a lot of point in betting on the favourites. But the point spread helps to even things up. For an example of a points spread, let’s look at the Washington Redskins vs Dallas Cowboys game. The Cowboys might be favourites here. Which means the spread could look something like this: Dallas -4.5, Washington +4.5.
This means that if you think the Cowboys will win by five or more points, you should back them on the points spread. But if you think the Redskins will win, or lose by less than five, back them. It is a way to keep things interesting for a match that is not expected to be that close.
As is the case with any bet you place, it is always worth shopping around on point spreads. Some bookies may have a slightly different spread in a bit to entice the punters in. So by taking some time to find the best option for your bet, you can maximise your profits from the wager.
Knowing how to make the most out of the point spread is a key step for those who want to make money when betting on sports. American sports such as NFL use them as a matter of course, so without a firm grasp of how it works and the best ways to take advantage, steer clear. It is always worth sticking with those sports and markets you feel the most comfortable betting on. Otherwise, it can be easy to lose a lot of money – and fast. You cannot expect to be an expert on a vast array of different sports, so just stick to those you know most about when betting.
Next up, let’s have a look at the handicap markets, which work similarly to the point spreads. Let’s go back to our previous example of Manchester United v Liverpool in the Premier League. If you are confident United are going to win easily, the handicap market could be useful.
The options will be presented in a similar way to the point spread is for American sports. So you may well see something like Manchester United -1, Liverpool +1 among the options on offer. This means United have a goal taken away from their tally for the purposes of the bet. So for it to win, they would have to score at least two more goals than Liverpool. Winning scorelines would include United 2 Liverpool 0 and United 3 Liverpool 1 and so on.
Handicaps can be a great way to find extra value in backing teams that are strong favourites. So if a big club like United is at home to a minnow, they are likely to be offered at a short price. This is unlikely to be worth backing, so check out the handicaps. Much more appealing options would be up for grabs on United -1, United -2 or even United -3.
The handicap bets can work in exactly the same way for backing underdogs. Even if you don’t think Liverpool are going to beat United, you can use the handicap to side with the Reds. Betting on Liverpool +2 means they could lose the game, but you still win the bet. If United won by one goal, your Liverpool +2 bet would still be a winner. A great way to use the handicap in this way is when smaller clubs host giants. The home advantage often gives them a boost, but the bigger, more famous team will still probably be the favourites to win the match.
Handicaps and point spreads are two of the most important markets to use on sports betting. Play around with them to get to grips with how they work. As always, only bet once you are comfortable with how a market works. And consider recording your wins and losses so you can keep track of how much you are making when you bet on sports. Best of luck!