Millions of sports fans across the world bet on sports each year. While betting on sports is fun, it’s not easy and the odds are always stacked against the bettor. To make money betting on sports, you need a system that is mathematically proven to be profitable over time. This article will explore various strategies, tips and best practices for maximizing your profitability.
One of the biggest mistakes that amateur bettors make is allowing their emotions to cloud their judgement. When a team loses, they often get discouraged and begin making irrational decisions in an effort to win back their losses. This is why experienced bettors take a rational, disciplined approach to their wagers. By using math and statistics to guide their bets, they can minimize their risk and maximize their winnings.
To avoid making these mistakes, be sure to keep a budget and a plan in place before you start betting. It’s also important to open a separate bank account that you use solely for placing bets. This will help you stay focused on your bets and avoid the temptation of chasing your losses or trying to recoup your initial investment.
Another thing to keep in mind is that even the most knowledgeable sports fan will experience hot streaks and cold spells. There’s no way around this, but if you can keep your emotions in check and bet with a rational, methodical mind, you can reduce your losses and increase your profits.
If you’re a novice when it comes to betting, you may be wondering what terms you’ll hear when you watch a sporting event or read previews and recaps. Below, VSiN, The Sports Betting Network, has you covered with a list of 12 sports betting terms that every beginner should know.
Spread – A number set by the bookmakers that handicaps one team and favors another when two teams are competing against each other. A win against the spread yields a higher payout than a regular bet- for instance, a $1 bet on a 2-to-1 favorite offers a payoff of $2.
Over/Under – A bet on the total amount of points, goals, rebounds, saves, wins, birdies, aces or any other statistic in a game. The bet is over when the final total is greater than a sportsbook’s set total and under when it is lower.
Bad Beat – A bet that looks like it will win but ends up losing. This is sometimes known as a “heartbreaker” and can be very frustrating.
Juice – The house edge on bets. The juice is a sportsbook’s cut of a bet, and it is calculated by multiplying the bet’s winnings by a percentage.
Sports betting has been in the spotlight for a few years now, and it’s likely only a matter of time before Canada follows suit. The anti-gambling stigma that once existed has faded, and the sport’s popularity has given rise to a massive, multibillion-dollar industry. As the industry expands, it’s a great time to get familiar with these key terms so you can be an informed bettor.