Submitted by rsteel on
Not meant to be a comprehensive list. Some are obvious some not so much.
• There is no such thing as a sure thing for any one particular sporting event. You may have many many compelling reasons to bet a particular side but do not allow that to force you away from proper money management principles.
• There is such a thing in all sports as home advantage. Some home advantages are bigger than at other venues and your handicapping should reflect this. Most teams do play better at home than on the road. Most teams will have a substantial home away dichotomy. However sports books obviously also know this. They also know the public will gravitate to home teams and will shade the odds accordingly. Therefore it is safe to assume in general more times than not the value is with the visiting team. Betting home teams consistently will not be profitable in the long term.
• Betting on sports IS easy. Especially with today’s technology. Winning at sports betting IS NOT. It takes time, dedication and sweat equity daily. Watching games spending a few hours checking out random stats on line is not the road to success.
• Yes stats and numbers and math do play a big part of sports betting. It does help if you have a propensity towards numbers but you DO NOT have to have a PHD in math to be successful in this business.
• Bankroll money management is as important as picking winners.
• Anybody can pick 50% winners over the long haul. Flip a coin throw darts at a wall etc. eventually you will be at 50% on a 50-50 proposition it is simply the law of averages.
• Getting to 53% winners is where the gold mine exists and it is amazing how much more difficult it is to get there.
• Winning sports bettors do not treat this as a hobby even if their results are not where they want them to be YET. Hobbies cost money. Businesses earn money.
• Sports betting is NOT a problem, addiction or vice; losing is. However for the small % of people that do not know how to handle gambling they should seek help.
• Amateurs pick games pros handicap games. When you handicap a game you look at both sides you set YOUR line for that game and compare it to the books to decide if you have an edge or value.
• Getting the best line possible IS the same as winning more.