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Learn Sports Betting

Sport wagering is a relatively easy concept. However, those new to it may find the wide range of betting options a little overwhelming. This tutorial is designed to help the novice sports gambler understand the basics of sport wagering.

Fundamentals of Sport Betting:

Straight Bets

There are only three kinds of straight bets you need to learn:

Point Spreads and Totals work on the 110/100 principle (except when otherwise noted), which means the bettor must risk $110 for every $100 wager they want to win. Another common way this is explained is that the bettor must risk 10% (commonly refered to as juice) of what they want to win.

So, if you place a $100 wager then $110 is taken out of your wagering account (this covers the $100 wager plus the 10% juice). If you win the wager then the $110 is returned to your account plus the $100 won. If your wager loses then the $100 wager plus the 10% in juice is kept by the sportsbook.

So what are the objectives of sports betting?

On the surface, it’s quite simple – TO WIN. But looking at it more analytically, to accomplish that end, the player must realize some “sub-objectives”, if you will. They are:

* NOT necessarily to pick the best team in a game, but to recognize SITUATIONS which are right for a play, and to exploit those situations. Let’s face it – when Indianapolis ended its winless streak by defeating the Super Bowl champion Green Bay Packers in 1997, it didn’t happen because the Colts were the better team. It happened because there were a set of circumstances that came together, adding up to a Colt victory. For example:
1) the Colts, though winless to that point, had put forth 100% efforts in most of their games.
2) The indoor Hoosier Dome crowd was loud and enthusiastic and sometimes gives the home squad a shot of adrenaline.
3) The Super Bowl champions are a team that often brings out a maximum effort from the opponent.
4) Playing a winless team is often viewed as a non-challenge for a proven playoff team, and thus might not bring forth a maximum effort.
5) The Packers had a major revenge game with Dallas up next, followed by division games against contenders Minnesota and Tampa Bay, creating the perfect scenario for a “look-ahead”;
6) Green Bay was laying 12.5 points in a road game, a huge amount no matter what the matchup;
7) Green Bay was terrifically overvalued by the oddsmaker, and overbet by the public, and it showed, as evidenced by their 1-8-1 pointspread record coming into the game;
8) Green Bay was not at its best on artificial turf, having covered just  five of their last 16 games on the carpet.

When you consider all this, the Colts actually looked like a pretty good pointspread play, didn’t they? Well, the general public didn’t think so. All they did was not only cover, but win outright.

* To come out at the end with a PROFIT. To do this, the player does NOT have to win every game, or even necessarily a majority of games. If you bet 10 games and lost seven of them, you lost $110 a game, or $770, but on the three you won you played $500 apiece, you would be $730 ahead of the game, despite a record of 3-7, wouldn’t you? The key was the apportionment of funds. Just MAKE MONEY.

* To play SELECTIVELY, meaning that the player doesn’t make a bet for the sake of making a bet, but rather because there’s a good reason to do so. Just because ESPN televises a college game on Thursday night doesn’t necessarily mean you have to play the game. In fact, it’s often the wrong time to play. Players who feel they have to bet a game just so they can watch it probably should not watch it, but go to a movie instead. Also, people who “play the board” do not last long at all. Remember, the more games you play, the less significant your “margin” is going to be. For example, if you go 10-6, and played $100 on each game, you win $1000 and lose $660 for a total of $340 profit. If you went 6-2, still a margin of four games, you’d win $600 and lose back $220 for a $380 profit. The 11/10 can eat you up with more games. Think quality, not quantity.

* To find situations that present good VALUE in the pointspread, meaning, in layman’s terms, that the player has a “good deal” with the line he is playing the game at. Value is KEY to finding success in sports betting.

* Anticipate INTANGIBLES about the teams the player is backing. Knowing when a team is primed for a top effort, when scheduling is in their favor, when they’re tired, hurt, dissension-ridden, etc. is information that means something. Do homework. If you put some time in, you’ve already got a leg up on the vast majority of players.

* To avoid falling into TRAPS on games. The smart player thoroughly examines his options, especially those games that look, on the surface, “too good to be true," or “locks."

* To avoid committing FOOLISH MISTAKES with money. Chasing losers, playing with “scared” money, betting a maximum amount on every game, and betting too much on a given play are just a few of the pitfalls the smart player has to overcome. A classic case is Monday Night Football, which was created, it seems, as a “bailout” night for people who lost over the weekend. Losing players tend to “load in” on Monday night in the hope of getting the losses back. And all novices seem to play it big, whether there’s really a play there or not. The Monday night NFL game is truly a test of the player’s discipline.

* To realize the goal is LONG-TERM results, not those in the short-term. Anybody can win some games over a weekend, but it really takes skill to beat the 11/10 over the long haul. Players should not get too high or too low over any one week, because it’s a long season.