History isn’t quite clear on this for lack of indisputable evidence, but it is more likely than not that ever since sports first originated in simple contests of strength and/ or skill, somebody placed a wager on who the winner would be. And that’s how sports betting probably originated.
If that sounds too simple, ask yourself: ‘Why Not?’ After all, if you aren’t in it, what better way is there to feel connected to a sporting contest than to successfully predict the outcome? Maybe there wasn’t anything on stake to begin with, except perhaps bragging rights, but we don’t really know that; maybe the real fun, even to begin with, was in making the other guy pay up that extra sack of rice. Yes, we’re pretty sure punters have been laying bets on fistfights and dog races and what not even before mankind had managed to invent money.
Now that we have established the hallowed origins that the practice of sports wagering enjoys, let’s skip ahead to the current day and age, regrettable as it may be to refrain from commenting on the rich history of this popular pastime over the ages and across the world.
Today, betting on sports is a complicated business. In all fairness, sports have changed a lot too. From being, at the turn of the 20th Century, something that the rich did for amusement and the poor did for entertainment, sports today is an industry with some of the most unforgiving professional standards there are.
Similarly, betting on sports, in jurisdictions where the law permits it, has moved beyond simple wagers over winners and losers.
If you are looking to place bets that win you some moolah, you have to be properly armed with all the tips, tricks and tools of the trade.
Know Your Teams/ Players
This can’t be stressed enough, and has been discussed in a previous post on sports betting too.
When betting one’s valuable money on sports, the bettor must go through information on the past and present goings-on in and around the teams, know teams starting lineups, injuries, and weather situations. The most important factor here is the teams’ track record. Another important aspect is the form of the current players. Judge the importance of an injured player and the quality of his substitute. Bear in mind that second-string players are often highly qualified and are very highly motivated when replacing a starter: it’s a ‘now or never’ scenario for them! So it often pays to bet on a team missing its best player. One must not overlook the importance of current coach of the team and his track record either. The number of key players or superstars in the team also plays a vital role in choosing a team to bet on.
In individual sports too, it helps to keep track of the latest news on the players. Has a particular ‘great’ been off-color lately? Has there been an injury that may still be nagging him or her? Perhaps his mental health is suspect, given a recent scandal that erupted? These factors should help you ascertain if a particular player is presently worth backing or not.
Avoid going on a tilt
Losing streaks do happen, it is almost inevitable. The mistake most inexperienced bettors make here is betting larger and larger amounts in an attempt to cover up their losses. What is needed here is patience and a reduction in betting amounts till the winning streak begins to show. Once the winning starts, bets could be increased gradually but one must keep in mind that winning streaks too, have to end sometime.
Avoid Biased or Emotional Betting
A lot of people get into sports betting as just another way of supporting their favorite club or team. For such a bettor, there’s little that’s more a matter of pride than showing off how he’s ‘die-hard’ enough a fan to risk money, and yet ‘his team’ repaid his faith by coming through.
Even if your primary motivation for betting in the first place was simply to make money, it’s easy to have one’s judgment clouded by favorite teams and players. We only have one thing to say with regard to that: don’t be that guy.
When betting, keep it strictly business and be ruthless and exacting in your analysis of the players and teams involved. Let your head, not your heart, make the decision.
Low-Risk Value Betting
A lot of betting success in any game is determined by value you get on your bets. This great technique of betting is not popular but is a very good way for large profits with not so large bets. This means getting higher values than you get on your bet. Consider an example, if fair odds on a particular team happen to be 1.10 and bookies offer them for 1.60 then this bet has got more value. The secret lies in the fact that there are no absolutes in sports betting, the whole thing is based on estimation The bookies estimate the fair odds, so do you. When there is a difference you bet on where you see value.
Betting Against Public Consensus
There are pretty decent chances of favorites to win, high value bets are made by betting against these teams. A consensus is the public’s estimation of who will win, so if you see 80% beside a team it means that 80% of the people think that, that team will triumph, it’s not the chance of winning. In view of the fact that a team has a very high public opinion you think it intelligent to bet on it, that’s in general a wrong decision to take. Despite the fact that betting based primarily on public consensus is reckless, it doesn’t mean that you must bet against the more popular team in all games. There are some situations where you must also consider consensus and compare it to the line movement and act when the time is right.
Understand the Software
So far, the points discussed would apply to betting on sports in general, whether made online or at your regular bookie’s. However, online sports betting has been a game changer in more ways than one, and hence this last tip must be pertaining particularly to this.
If nothing else, online sports betting software brings unprecedented transparency to the world of sports betting. For way too long, this was a practice that very few understood in its entirety, the bettors content with just enough knowledge they’d need to understand where the money lay and the bookies happy to keep the flow of knowledge the way it was.
However, the way it works, now that online sports betting is here (to stay!), is that there’s a plethora of information that the sportsbook sites themselves are furnishing for the benefit of the bettors. Knowledge, it can’t be stressed enough, is power which, in this case, you can use to get the maximum out of your sports betting experience. The sheer load of knowledge may be a lot to deal with to begin with, so take it slow; there’s no shame in it no matter how much of a high roller you are with your local bookie. Learn how the software works, use the guides that explain all there is to know about gambling on sports and so on.