Betting on sports is far more popular in the United States than ever before. Since the federal ban on sports betting was lifted in 2018, more than $100 billion has been
Of course, many people have been trying to get a leg up on the bookies and make some money betting on sports. There’s always a risk with gambling, but if you follow these four tips you will be putting yourself in a better position to profit.
Take advantage of promotions
Online sportsbooks are constantly trying to make new users try out their platform and become regular customers, especially in a relatively new and unestablished market like the US.
To do this, they will often offer valuable sports betting app promotions, which either bring in new players or enhance the value of bets for returning players to the app.
Sports fans have no doubt noticed the frequent promotions from the likes of DraftKings, FanDuel, and BetMGM offering big money bonuses like $1,000 in risk free bets for new users during television broadcasts. On the other hand, regular bettors must be aware of the various rewards for returning players to sports betting apps, such as enhanced odds on particular wagers and loyalty reward programs.
Sharps know they should take advantage of these deals as often as possible to maximize their winnings and minimize their risks.
Shop around for the best odds
There are a huge number of sports betting apps available in the United States right now, which means that you have the chance to comparison shop before you bet. If you were making a big purchase, you’d compare prices between different stores, right? The same principle applies when you’re betting on sports.
Different betting apps may offer different for the same bet or set their spread lines a bit differently, and you can maximize your value when betting by finding the best value across the sportsbooks available to you.
When wagering on a spread bet, for instance, it is standard practice to have the odds set at -110. This means that you would have to wager $110 to win $100. However, some
betting apps set their spread odds closer to -105, which means that you’d only have to bet $105 to win $100.
This is a small example, but if you make this standard practice in your betting then your extra winnings will add up over time.
Research smaller sports
You might love the NFL, NBA, or MLB. The bad news for bettors is that so does everybody else. This means that these markets are extremely well-developed because the oddsmakers know there will be a lot of public money.
That means it will be really hard for you to find an edge with the most popular sports and almost impossible to make major profits by just betting on them. You might ask how the true sharps make their money then.
Sports leagues that don’t have much action on them – like Latin American baseball, Japanese women’s soccer, and Finnish hockey – have become popular markets among bettors that are willing to do the research and get an edge. You’re more likely to find value in a line betting on the Las Águilas del Zulia – Bravos de Margarita game from the Venezuelan baseball league than you are with a New York Yankees – Boston Red Sox game.
Be aware – this line of thinking isn’t for casual bettors. To outsmart the bookies you’ll have to learn about the league a bit yourself so you know the ins and outs and can find an edge. But if you’re willing to put in the work, you can find a lot of value in smaller sports.
Maintain your self-control
Of course, the most important thing to remember is to keep a budget and maintain it. You need to know your limits when funding your sports betting account and placing your wagers.
The quickest way to blow through your funds is to get too excited and go over budget on a bet you thought was a sure thing that ends up losing.