Monday, December 11th, 2017

The Art of Sports Gambling

Published on February 17, 2011 by   ·   No Comments

sports-gambling-sitesI’ve promoted some of my favorite online sportsbooks on this website. But it occurred to me that I might not have ever properly explained the art of betting on sportsbooks or other sports gambling sites until now.

This is going to be a beginners guide to sports gambling. I will try to make this relatively easy to understand, because people can be intimidated when they want to sign up and deposit money into a sportsbook.

If you want to participate in real money sports gambling online, then you will need to know the necessary information for placing bets and wagers on sports.

Keep in mind that betting on your favorite teams and sporting events is supposed to be fun and always have your head in the game. As with any other form of gambling or betting, you can get unlucky and go on a prolonged losing streak. Read and follow my sports betting tips below and you will be able to make good decisions and possibly some good money.

art-of-sports-gambling

Sports Handicapping Money Management

Money Management is the most important part of being a successful gambler, especially when it comes to sports betting. If you are a good handicapper and manage your bankroll, you will never go broke.

The first step is determining how much money you are going to use for your bankroll. If you make a deposit into a sportsbook and receive a bonus, then you will consider your bankroll to be the deposit plus the bonus you received.

Your odds of making money without using a money management scheme is going to be very slim and depend on your luck. If you don’t have self-control when betting, you might as well consider the money your spending to be entertainment.

Moving your bet size

It is easy to move your bet size up when you are winning. You want to make as much off of your hot streak as possible, after all. But, you must also face the facts when you are in a losing streak and move your bet sizes down until you get control back and can start building again.

sportsbook-gamblingToo often in all kinds of gambling people start to chase. This is something I often called the “I’m due” effect. This is how casinos make a ton of money. People think that they are due and continue to dig themselves a hole.

Let’s use an analogy. Let’s say I normally bet $50 per game. One Sunday I bet on 6 NFL games and lost them all. I say to myself, I can’t possibly lose 7 straight so I’m going to go double or nothing to try to get even for the day. Your now down $600 and that starts you chasing. “I can’t lose 8 in a row” …

The same thing happens to casino players when they play blackjack or roulette. It can and will happen to you and your decisions will determine if you bankrupt your bankroll. If you feel that you get too emotional, take a step back and compose yourself. Re-establish a baseline and try to build yourself back up.

The problem is that too many times you get away with throwing a large bet and that makes you somewhat comfortable with doing it when you are in a crisis. That is the best way for things to spiral out of control.

Bet Sizes

How much of your bankroll should you bet? This is the big question. If you are planning on having only a couple hundred dollars, you are not going to be able to absorb a losing streak. This is the same thing that will happen if you bring $200 to the $25 blackjack table. It was great fun for 30 minutes!

You should bet between 1-3% of your total bankroll in a normal wager. When you are feeling very confident, don’t bet more than 5% of your bankroll. At any one time, don’t have more than 15% of your bankroll in play on sports games. And if you lose more than 15% of your bankroll in one day, then you should quit betting that day.

There is a lot more to explain, especially when it comes to sports betting line shopping. If you don’t know what your doing, you may not understand the + or – number that is next to the team you want to bet on. Having a clear understanding of sportsbook lines and the different types of bets is critical to being a great sports gambler.

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