Submitted by rsteel on
All successful sports bettors go through similar stages. Beginner to average to winning. How long it takes to get through each stage is dependent on how stubborn vs. open minded you are. Here is a list to shorten your learning curve.
1 – There's No Such Thing as a Sure Thing: You can find games that have very good value but the existence of a sure thing in sports betting does not exist. Never over-bet your bankroll--no matter how good a betting situation may appear.
2 – Home Teams Win More Often, But Not More Often Enough: Home teams have an advantage in just about all sports. However it is not enough to be used in a profitable way for sports bettors. Some home advantages for some teams is greater than others. So do not use a blanket home advantage. When books set their lines they obviously shade for home advantage and then some. Public will gravitate to home teams and overs so in your search for value more times than not you will be on visiting teams and under.
3- Betting on sports is easy winning is harder: Like anything else worthwhile it takes time sweat equity learning perseverance studying adapting. If possible find a mentor someone you trust that has come before you willing to teach you. However NEVER NEVER pay for picks. Watching games betting hunches from what you see creating false narratives to substantiate value is not the road to riches.
4- Being good in math modelling helps: You do not need a PHD in math or a computer science degree to be successful but statistical data is a big part of your analysis. Find a process that works best for you. There are many on line sites and tools that are useful and time savers.
5- Money management is as important as picking winners: If you cannot find value pick winners no method of money management will help. However I have known a number better handicappers but their inability to manage their bankroll has them bankrupt.
6- Picking 50% Winners Is Easy - Picking 53% Winners Is the pot of gold: Flipping a coin over a large sample size you get to 50%. It is amazing in sports betting how much harder it is to get to 53%. Getting the best number and timing the market greatly helps you get to 53%.
7- Businesses make money hobbies cost money: If you want some entertainment putting a few dollars on a game while you watch it on TV nothing wrong with that. However if you want to make a part time income and eventually full time you must treat sports betting as a business including money management line shopping and record keeping.
8- Gambling is not a problem losing is: For the few people % wise who cannot control themselves they should not participate in sports betting.
9- High profile events: NFL football games higher limit events have a tendency to have the sharpest lines little to no value. Realize an NBA Wednesday night game in February or 2 small schools in NCAAB on a Thursday night battling is where you will find weaknesses in the line. Understand the money won on those events is the same as winning a bet from Monday night football.
10- Amateurs pick games pros handicap games: Got a hunch bet a bunch. When you handicap a game you look at both sides using all the data available compare it to the posted line to determine if you have value or not.
11- Line Shopping: This issue along with handicapping and money management is the most important in all of sports betting. You must have as many sports accounts funded as possible. You must shop and get the best line possible each time you place a bet. Why pay more than you have to. Would you purchase a car at 50K when you can get it for 48K? Of course not and why would the same not apply to sports betting? Effectively line shopping allows you to make more money without increasing your win %.
12- Do not give up your biggest advantage: Do not be an action junkie. The sports book posts a line on literally every event. We get to cherry pick the games we have value to bet on. Be selective.
13- Avoid chasing: You are not going to win every day every week or every month for that matter. A pro knows when to take their lumps and live to fight another day. The national anthem is played somewhere every day. Do not chase your losses and dig a bigger hole.