If you are new to sports betting or in a rut and can't seem to buy a win, avoid these five mistakes and become a more successful sports bettor.
1. Bet Parlays For Big Payouts
Parlays to sports bettors are like giant diamonds to jewel thieves. They are very appealing and will make you a lot of money, but the risk is very dangerous.
The average joe thinks sports betting is a get-rich-quick hobby. That is exactly why parlays are so attractive it allows you to place small wagers with massive payouts.
Parlays allow you to take two or more teams and combine them into one bet. If all bets win, the bettor wins a massive payout, but if any one of the bets loses, then that parlay loses automatically, and there is no payout.
The odds of you hitting a parlay consistently is very slim; that's why I recommend staying away from them a majority of the time. View parlays as a scratch-off lottery ticket; throw a few bucks on them every once in a while, hoping you hit the jackpot.
2. Use One Sportsbook
The average sports bettor only uses one sportsbook. If possible, try to use at least three different sportsbooks so you have the opportunity to shop for the best lines. By using three separate books, more often than not, bettors will get lines at least a half-point better than the average line. Shopping for that half-point will also allow you to move off key numbers 3 and 7 without laying the extra juice by buying that half-point. You can increase your long-term winning percentage by 2% by getting that extra half-point.
Think of it as buying a TV. Before purchasing a TV, you probably go online and price check that TV at a few different spots to try and find the best deal or price; you want to do this while betting on sports.
Researching the Safest Betting Sites can help you find the best lines and odds.
3. No Need For Bankroll Management
Bankroll management might be crucial in becoming a successful sports bettor. Poor money management is the number one reason people go broke or end up in debt, whether in everyday life or when trying to win long-term sports betting.
You want to stay consistent with the amount of money you bet on each play. Ideally, you should bet 1% to 5% of your bankroll on each bet. Typically 3% is a good starting point. For example, if your starting bankroll is $1000, you should bet $30 on each bet. Using this system will help you ride out the ups and downs of sports betting and will help you sustain your bankroll through tough losing streaks. It takes discipline because many people like to chase their losses and double down on the next game to help recover their losses earlier in the day.
4. Using Tout Services
With the sports betting industry rapidly growing by the day, you will see individuals or groups advertise to buy their sports picks. 99% of the time, these guys are glorified salesmen. They boast on Social Media that they have these giant mansions or fancy sports cars and that they win 80% of the time, which any pro handicapper will tell you is impossible long term. The best in the world only hit 55-60% of their plays.
Typically, people buy picks because they think they can get rich overnight. That is never going to happen. Save yourself the disappointment, research the games on your own, and learn how to handicap correctly.
5. Ignoring Travel Schedules or Rest Disadvantages
One of the most overlooked aspects of betting on sports games is looking at teams' travel schedules. Throughout the season, there will be teams with rest advantages and disadvantages, and actual sharp bettors will take advantage when these occurrences happen.
Some examples of this would be NFL teams coming off their bye week or NBA teams playing their second game on back-to-back nights.
Below is an example of how rest advantages/disadvantages can give bettors an edge in the NFL.
According to Warren Sharp, since 2005, underdogs of 4+ points playing with a rest disadvantage are 86-305 (22%) and have covered just 45.8% of games. Compared to underdogs of 4+ points who are not playing with a rest disadvantage, they cover 49.2% of games.
Sports Betting is all about long-term success. Do your research, stay disciplined, and stick to what you know. If you can't find an edge, don't bet on it. Don't feel like you have to bet every single game. Sometimes the best bet is the bet you don't make.
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