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How to Make Money From Sports Betting

NEWS STORY
08/06/2022

There are millions of sports lovers all over the world who watch games and believe to themselves, "Betting on sports must be easy". I have some bad news for all of them: it is not.

To break even after deducting the "vig" or "juice," one must hit 52.4 percent of their bets. The most successful "experts" often win fewer than 60% of their bets. Everyone, no matter who they are, will be affected by a cold spell.

When it comes to online gambling, there is no way to ensure success. You can go to a trustworthy online casino for starters, but that's just the first step. However, there are several things you may do to improve your odds of success.

In this post, we will go over several different tactics for increasing your chances of generating money while betting on sports.

Choose quality picks always

In an average NFL week, there are 16 games to wager on. Every week, many gamblers will put some kind of wager, whether it is against the spread or on the total. Some gamblers may do the same thing if they see a big MLB weekend or a night of NBA or NHL activity.

While this may work for a few weeks, it is a losing proposition over time. Remember that the more bets you place, the more money the sportsbooks take in commission.

No sensible bookmaker would claim to be exceedingly confident in every single game on a given league's schedule. Some might admit to doing it only for the sake of having action and being immersed in every game. Examine the games you want to wager on and prioritize the ones you're most confident about. As a general rule, I would not bet on more than five games in a single day.

Avoid parlays, unless you're an expert

Bettors are drawn to parlays because of the potentially large payoff if their bet wins. A normal two-team parlay pays out at 2.6:1 odds. If you are lucky enough to hit an eight-team parlay, you may win 150 times your original stake.

Bettors will sometimes read a tale of someone who turned a $10 wager into a five- or six-figure prize. Such stories are nothing more than lottery tickets. People were not very optimistic about winning the lotto the last time we looked.

There is nothing improper with placing a parlay wager rather than separate wagers on the same games. However, don't be enticed by the prospect of a large payout while needing to hit six or more legs of a parlay. If you want to gamble on parlays, stick to two or three team bets. You won't win 150 times your money, but you'll have a lot higher chance of getting a reasonable payoff than losing your original investment.

Shop around

Many gamblers have a "go-to" sportsbook with which they are familiar. These same folks may be unaware that other sportsbooks may offer better odds on the games on which they are wagering.

A half-point discrepancy on a line may be important in several sports. If one bet on a team to cover an 8.5 point spread, that team must win by at least nine points. However, if the same team is given an eight-point spread, they are less vulnerable because winning by eight is no longer considered a loss. Instead, the bettor would "push" their stake and receive a refund.

There is no damage in creating accounts at different sportsbooks, given how safe they are. If you do, you will have the opportunity of comparing lines across various sites and take advantage of the best line each time.

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