Sports Betting: a real way of making money
Sports betting comprises 50% percent of all online gambling wagers, outrunning casinos, lotteries and poker. This popularity can be explained by the following factors. First of them is time. Unlike casinos and poker, where it takes a lot of time to win a desirable dollar, in sports betting it is much simpler: you just place a bet and wait for the outcome, thus saving from 2 to 12 hours a day. It’s not even a must to watch the event you bet on.
Another point is profit. Having at your disposal the bankroll of certain size, you can easily increase it by at least 20 percent a month. Not bad. The only primary condition is the bankroll of 300-500 bucks. With less money available don’t even start sports betting and switch to poker instead. The next issue is the margin. Casinos and lotteries usually have a relatively high margin, from 10 to 15 percent as a rule. While, betting companies don’t exceed the limit of 5-15%. Noteworthy, that it’s very difficult to take advantage of casinos (except for the card games).
In sports betting you may use a someone else’s head to succeed. The internet is riddled with large bulk of materials and strategies on casino gambling and poker. But you’ll have to read them from top to bottom and to process the information they offer. In sports betting you may use the data provided by winning handicappers and use it to your own advantage.
To beat the enemy you have to know him, so let’s have a look at the mechanism of bookmakers’ work and try to understand why sports betting can be profitable. As there is still a common opinion that it’s next to impossible to beat the bookie.
Sports Betting. Ho how do the sports books work today?
The objective of the “old” bookies was to take bets on a certain event and then pay the winners off on a proportional basis. Let’s assume a match Federer - Nadal. 10 people bet 10 dollars each on the Swiss and 20 people bet 30 dollars on the Spaniard. As a result, Nadal wins and everyone who backed him, collect 5 dollars each (total 100 dollars bet on Federer who lost are distributed between 20 punters who backed Rafa). If the stakes on Nadal were of different size, the returns would also be distributed in correspondence of the bets sizes.
Soon the situation changed as the punters wanted to know how much they would get in the case of a favorable outcome. So the odds were introduced. The essence of the odds is rather simple. In our example, odds for Rafa Nadal to win the event will be 1,5. It means that if you’ve wagered 30 dollars, shall the Spaniard win you’ll get 30+15 dollars. That’s easy. But now the bookmaker is not a passive platform for gambling, it becomes a fully-featured gambler risking his own money. Due to this, the bookies start paying much attention to the calculation of odds. Nowadays the odds are calculated and adjusted by real pros.
Here we come across another hidden pitfall. No one would bet on Federer-Nadal match at the winning odds equal to 1,5 and 1,2. It’s not enough; the punters expect the odds to be interesting and competitive to bet at them. It’s also noteworthy, that the events with equal odds are not likely to occur. More often there will an overwhelming favorite faces an underdog. For example, Federer vs Stahovsky with the odds 1,03 and 30. So this event would hardly attract many punters.
And this is the moment where new market tendencies come into effect. The bookies’ goal is to attract as many wagers on the event as possible. They don’t care who will bet on: a pro or a gambler addict. They are interested in all punters no matter what strategy they use. The only thing they care about is the margin they hold over the bettors. They bite a small piece (and at times it is not that small) from every placed stake. Now the odds serve to attract the same amount of action on both sides: for the event and against it. And it’s desirable that these groups were equal in payments they make. Thus, if the total stake on Federer is 100 bucks at 2,5 odds, there should be exactly 150 bucks bet on Nadal. Only then the bookie won’t spend its money to make the payments to the winners.
So the bookmakers’ main goal today is to attract the same amounts of wagers on the event and against it. How can it be accomplished? First of all, the odds should be equally attractive for both sides. Here the real winning chances are not as important as public expectations. Take Murray-Verdasco match as an example (Wimbledon 2013). The odds were adjusted to the market opinion without reflecting the true winning probabilities of the opponents. To influence the betting public decisions bookmakers make great use of statistics. All their tools are implemented to achieve one goal – evenly divide the market. Bet on the underdogs or favorites with the odds between 1,15 and 1,25! Nice strategy, isn’t it?
Be ready to receive hundreds of e-mails offering you betting strategies and analytical reviews from the bookmaker, Pinnacle Sports for example. This is profitable for them.
And hub a dub… the drums are beating….it is beneficial for us too! As our main competitors are not the bookies, but other bettors. Bookmakers do their best to attract bettors and divide them into two teams thus getting the margin they set. And our goal is to surpass other gamblers in selecting sports events and predicting the outcomes.
Sports Betting. Time for PR.
In general, sports betting is a highly interesting activity that positively influences almost all market participants. Let’s have a look. First consider tipsters-cheaters. They act for the bookmakers’ good as they attract new gamblers to the market and “help” them to spill their money. They also help us to gain our hard-earned bucks. As for the winning handicappers, which are not many, they also side with bookies by attracting new bettors. And if newcomers tend to win a lot, it’s always possible to block their account. To avoid it, we highly recommend registering your betting account by Pinnacle (low margin bookmaker) and Betfair. Even Marathonbet has banned our account. Luckily, there is also an opportunity of opening another one.
Sports betting as a source of income
Be particular when choosing the tipsters’ service to get the picks from. Once again look through our article on how to select the best handicappers. It’s very important. Making your choice, consider not a single sentence, but a justification of the betting line. Websites with a large number of bets a month should strike you as suspicious. 30-40 bets are a monthly limit for any punter. Don’t believe in 200-1000% of profit per month. It’s simply unreal. Don’t hush to pay for a one-time tip. Better ask for monthly or annual subscriptions. Don’t fall for high odds. And shall you be promised to increase you bankroll eight times for one evening, think twice before accepting it. For me it sounds incredible.
And in conclusion, we wish your good luck in this challenging matter!
Relevant articles:Tennis betting. All you should know about betting on clay court tennis matches
Dan Weston: Never let a bad run of results wipe you out.
How sports betting works. Value betting
Live bets. Special aspects of betting tennis live
How to consistently win at sports betting
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