The sports betting world is exciting, as you can place bets on various sporting events from around the world. You can bet on everything from NFL football games to Premier League soccer matches and everything in between. You’ll find a unique sports betting opportunity every day online.
But you must also know what you’re doing when you place your bets, as there are many aspects of sports wagering that deserve your attention. Here are a few sports betting tips you can utilize the next time you place your bets online.
Start Off Small
The first tip for sports betting online is to avoid going overboard when placing your first wagers. You’ll likely make mistakes on occasion, but that’s a natural part of betting on sports.
The first tip for sports betting online is to avoid going overboard when placing your first wagers
A good idea is to keep your bets $10 or less if possible. You can always place an $11 bet to win $10 if you wish, but that’s the best way to start. You can increase the values of your bets if you have more money in your bankroll, but don’t go overboard when placing your wagers.
Understand the Vig
The vig is a part of sports betting online that most bettors don’t consider, but it is critical to how they operate. The vig or vigorish is a fee a bookmaker charges for accepting a wager. It is a house edge and is only collected when the bettor loses the wager.
For example, a spread wager may have a -110 line. The vig would be the value you’d have to spend to win a round number. For example, if you were to bet on a -110 pick to win $10, you’d have to bet $11. The vig in this case is $1.
| Spread | Bet | To Win | |
|---|---|---|---|
| Minnesota Vikings | +7.5 (-110) | $11 | $10 |
| Greenbay Packers | -7.5 (-125) | $11 | $8.8 |
Sometimes the vig is higher in value because the sportsbook finds a wager is getting more money. A -110 line could become a -120 mark, requiring people to place more money to attain a decent profit. The sportsbook will boost the odds further away from even money if it finds enough people are placing bets on it, thus increasing the vig. The sportsbook’s hope is that the underdog will win, ensuring the sportsbook can collect the vig from all those bettors.
Some Matches Are Closer Than Others
A sportsbook might place closer lines on some events over others. It might place a closer line on some high-value matches. Sportsbooks do this to take advantage of how more people are going to bet on certain events. The point is especially true for the Super Bowl and various other prominent games.
For example, a football game that would normally have a spread of -10 might have a -6 spread if it is prominent enough to where more people will bet on the action. The sportsbook will keep shifting that line based on whatever wagers it receives.
Watch the Home Team Bias
A sportsbook will often boost the odds for a home team in a match because a home team is often more likely to win a match. Home team bias makes it to where home underdogs aren’t going to produce as much of a profit. A team that might have a +150 moneyline bet while on the road could have a +120 mark at home.
One of the best sports betting tips is to look at the betting history for a team over the past few matches to see how its odds have changed. You might notice a small difference between its odds while on the road and its line while at home. You can see how much of a home team bias a bookmaker holds when looking at these changes.
Bet on What You Know
As appealing as it is to bet on the Super Bowl or NCAA basketball tournament or any other major event, you might not know all the ins and outs about certain leagues or events. One of the best sports betting tips to follow involves betting on whatever sports you know about. Focusing on one area that you have plenty of knowledge about helps you plan more educated wagers.
You can look at the specifics of whatever league you’re wagering on and focusing your bets on the teams or divisions you understand. For example, you might want to place bets on NFL games, but you might be more familiar with the AFC North. You could focus your wagers on games involving the teams in the AFC North. You could bet on a game between Pittsburgh and Baltimore, or you could place a prop wager on a player for Cleveland or Cincinnati.
Be Cautious With Individual Sports
You can place bets on individual-based sports like auto racing, golf, tennis, and combat sports. But these sports are high-risk options, as they entail betting on a single person’s abilities. You might pick a boxer to win a match, but that boxer might struggle to compete.
A team-based sport is easier and less risky to bet on, as you’re betting on a game involving many people. Everyone will play a unique role in a team’s performance. There might be times when one person might not perform as well, but the other teammates will work to carry the load if necessary. Betting on something like this is easy, as you know there are many people who might compete well in one situation.
Avoid Betting On Your Favorite Team
The last of the sports betting tips to follow is to avoid placing wagers on whatever teams you like the most. Betting on a team as a fan sounds fun, but you might not consider all the aspects surrounding a match. You might see certain things about your favorite team in a different light from what a sportsbook feels. You could slip into placing lots of losing bets on a team because you think it is better than the club really is.
Sports betting online can be fun if you use all these tips to succeed. Be aware of what you’re doing when placing your bets, and watch for what you’re doing when finding something of value. This content is purely from my research and experience so continue to do the same. This is not financial advice.
