The sports betting industry is on a roll, with the legalization of new markets and increased competition driving innovation. But with dozens of operators now in operation, the market can feel overwhelming for new bettors, who often find themselves confused by all the different options. Fortunately, there are some basic strategies to help bettors understand the ins and outs of sports betting.
Bet the underdog – One of the best sports betting strategies is to bet on teams that are undervalued by the public, and which offer a greater payout when they win. For example, NFL road underdogs are more likely to cover the spread than their counterparts at home. This is because the home team tends to overhype their opponent.
Look for value in the props – In addition to standard bets on game outcomes, some sportsbooks offer additional wagers called “props.” These are based on factors that do not have a direct impact on the outcome of a game. These can include things like player performance, injuries, or even the color of Gatorade that douses a coach during a post-game press conference. While these bets are less lucrative than the standard ones, they can provide some extra entertainment.
Identify betting trends – Use data analysis to identify sports betting trends that can inform your bets. For example, NHL road underdogs that start their back-up goalie in the first game of a back-to-back are more likely to cover the puckline. By taking the time to research betting patterns, you can make more informed bets and increase your chances of winning.
Choose the right sportsbook – Investigate the reputation of each sportsbook before depositing any money. Checking out customer reviews is a good place to start, but remember that what one person thinks of a particular sportsbook may not be the same as another’s opinion. Also, it is important to understand the type of bets a sportsbook offers before making a deposit.
Keep it simple – While you might want to try out more complex bets, it is a good idea to stick with the basics for your first few wagers. By placing simple bets, you can gain a better understanding of the different sports and learn how to bet efficiently. In addition, you can build your confidence with your bets and start to improve your strategy.
It is possible to turn a profit betting on sports, but it is not easy, especially over the long haul. It is essential to stay clear-headed and separate yourself from your fandom, and to do your homework. This includes learning everything you can about the teams and players involved in the game – not just how well they play, but their histories, injuries, and anything else that might impact the outcome of the contest. In addition, you should always be sure to keep track of your bets in a spreadsheet (standard or electronic) so that you can see the bigger picture and evaluate your progress over time.