Who Makes Money Sports Betting?

May 2, 2017

People who make money betting on sports are people who follow these “rules” on how to play the game. Most novice gamblers make the mistake of betting on favorites, teams they like, or popular teams. They also make the mistake of betting too much money per game or trying for that big payday. Here are some of the ways to make sure you come out ahead.

Be Good at Math

 It is always good to be someone who is good with numbers when trying to make a profit with sports betting. Understanding the value of teams and the odds will make anyone a more informed bettor. Just like baseball teams use numbers to set up their defense on hitters, bettors can use analytics to identify a good bet.

Bet Against the Public

 Many times point spreads are inflated one way or another because the general public either loves or hates one of the teams for reasons other than how they match up against an opponent. Oddsmakers want to get the same money bet on each side. So they may have to make the odds more attractive than they really should be. If you as a bettor recognize this, it can help you make a profit. For example, if the Dallas Cowboys, “America’s Team” is a six-point favorite over the Eagles, there is a good chance the two teams are pretty evenly matched. If you can get six points on the Eagles and they are really a three-point underdog, you just got three extra points.

Don’t Over Bet

 If you have $1000.00 then do now bet over $10.00 on any game. This way you can stay in the game even if you get on a losing streak. If you do your homework, you can ride out a losing streak until you start winning again. But if you bet too much money, it might get too expensive for you to try to “ride it out.”

Stay Away from Trying to “Hit the Lottery”

 Going for that big underdog, parlay bet or big future bet to hit it big is not the way to go about making a profit. There are reasons these bets pay big money. They are sucker bets. Everyone kicks themselves for not putting a couple of bucks on Leicester City after the fact. But, the truth is making that kind of bet is normally like setting your money on fire. If you do manage to hit one of those bets one day, consider yourself very lucky, because most never will. Those bets are like buying a winning lotto ticket.

sports betting

Have a Bankroll With Several Books

 This allows you as a bettor to shop around for the best odds before placing your bets. A half point here or there can make all the difference between coming out ahead or being behind. This also means many times you need to monitor odds all the days leading up to the game. Knowing when to make the bet can make all the difference. If you make it too soon you may not get the extra half point against the spread, but if you wait too long you could miss it as the odds start to go back the other way.

People who make money at sports betting are people who have the time to dedicate to making this their main source of work. Doing the betting thing with a little spare time is very difficult to make a profit.

Don’t Write Off the Un-Popular Team

 Even if there are teams out there who lose more often than not, they might win more often than not against the spread. This could be because the public stays away from, therefore making them get extra points from the oddsmakers to get the money even on both sides. So this may cause them to have a winning record over the long haul. Betting on them every week could be a way to make a profit.

Be in it for the Long Haul

 If bettors go in thinking they are just going to try it for a few weeks and “see how it goes”, they are going about it wrong. Numbers are what they are for a reason, and over a long stretch, they will be true. If they Pittsburgh Steelers have been a 54% winner ATS over a three-year period, then they might lose the next couple of week, but history suggests that over a ten week period they should win five or six times.

And if not, just keep going and eventually they will get over the .500 mark. The numbers are what they are for a reason.

Even those who think they know sports and can predict winners have a difficult time with picking them against the spread. Bookmakers know what they are doing. It is amazing how many times they have the point spreads within a point or two. This means to come out ahead, you need to be more diligent than the novice bettors.

It also helps to be a “nerd’ when it comes to numbers. If you remember the movie “Money Ball” the General Manager of the Oakland A’s hired a numbers geek to help him assemble the team’s roster and make the lineup. It resulted in the A’s winning division title, even though at first they got off to a terrible start. Over the long haul, the numbers don’t lie. Sports betting works much the same way. Learn how to spot trends. They may not win you money this week, but they are trends for a reason. Over the long term, they will make you a profit.

It also takes a patient person to make money at sports betting. A successful bettor needs to stay the course over a long stretch.