In sports betting, or any other form of betting for that matter, the aim for bettors is to get as much money as possible from the bookies or gambling opponents. In casino games, this process of extracting money from your opponents (especially when you have a winning hand) is known as maximizing the value of your hand. Sports betting is no different; with the right picks, proper timing and the right betting strategies, you can get maximum value from as many bookies and sportsbooks as you possibly want. You need to know how to do that? Follow us as we take you through a guide of how to get max value when betting.
Get Max Value Doing Smart Research and Quantification of Bets
Owing to the constant churning of words and opinions by pundits, smarts and bettors alike; the world of sports betting is always filled with popular opinions and favorite teams that attract the public. And as a result, many bettors (particularly the casual ones) easily buy into such popular opinions and bet on the popular bets without any research.
Occasionally, you may follow public opinion and still win a bet. If you’ve done that, good for you.
When you intend to bet on any sporting event, professionalism calls for you to try and work out a percentage of each possible result. These percentages only translate into profit if you understand how odds are priced, which is why learning why sportsbook odds matter is essential for identifying real betting value.
At its core, this approach is known as value betting — finding situations where the implied probability is lower than your estimated probability, as explained in the principles of value betting.
Basically, assign a percentage chance of winning to your preferred bets.
The goal is not to hit a specific win rate, but to find situations where your estimated probability is higher than the implied probability in the odds.
Get Max Value with Bonuses and Offers
Virtually all the best sportsbooks you will come across will have some sort of bonuses and offers to reward their clients, either for signing up, winning a huge bet, or simply being a long-term client. As a bettor, take advantage of these freebies and do your best to milk them dry. As a caution, though, be mindful of any bonuses or offer that seem too good to be true. One way to find out about the validity or the rules regarding these freebies is by looking at the terms and conditions of the bonus or offer you are interested in.
Shopping for the Best Lines through Price Comparison
Long gone are the days when bettors had to individually and painstakingly comb through countless sites to find the best betting prices. These days, we have websites that amalgamate the prices and compare odds from various sites for you on a single page. All you have to is simply take a sweeping look, and you can quickly–and easily–discover which sportsbooks are offering the best available odds. This process is known as line shopping, and even small differences in odds can significantly impact long-term profitability.
Of course, you should shop for the odds ONLY after you are done with you, and you have a good idea of which team or athlete you intend to bet on.
Explore Other Betting Strategies beyond Money Line and Point Spread Betting
Money line and point spread betting are two of the most common strategies used by bettors across the world, with game total (OVER/UNDER) betting coming at a close third. Regardless of strategy, most value is captured through single wagers, which is why understanding straight bets is key to applying these concepts effectively.
These are, however, just a few of the options you can use, and sometimes they can be a bit limiting. To break away from the rest of the gambling public, explore other viable forms of betting such as Teaser Betting, Half Time Betting, Prop Betting, Alternate Lines and Parlays, which often come with bigger payouts that guarantee maximum value when betting.
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About the Author
Henry Watkins
Henry Watkins is a Sports Writer at MyBookie. Originally from Scotland and currently residing in Metro Atlanta with his wife Penny, Henry covers a range of topics, including competitive and professional sports as well as sports business. In addition to his sports writing, he is also an author of horror fiction, with works such as Karaoke Night, Crueller, and Off The Grid.
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