Sports betting revenue is on track to reach over $3 billion in 2021.
Most of that money is lost to the house, but you can find ways to win big at sportsbooks. You have to have sports betting strategies to give yourself a chance.
Do you want to know what it takes to make money betting on sports? Take a look at these pro tips to make money betting on sports.
1. Study Your Sport
You can’t simply bet on a team because you like their jerseys or a horse because you like the name. You might as well go out to dinner for that money.
You need to learn the numbers behind your bet. A horse has a workout a week before its race. You should check this time and compare it to other horses. There are jockeys and trainers that are worth betting on no matter what.
If you bet on basketball or football, you’ll need to weigh the odds versus the teams’ records and hot players.
2. Find Reputable Sportsbooks
Reputable sportsbooks are the only ones you should consider. These sportsbooks spent a lot of money to operate legally in a given state. They’re licensed and regulated, which protects you if you have any problems.
There are sportsbooks that offer a lot of bonuses and there are ones that don’t. You want to sign up with sportsbooks that always offer something, not just a sign-up bonus. Read the best online sportsbook reviews to learn which ones are worth signing up for.
Make sure that the sportsbooks offer the sports that you’re most interested in. They should have an app that’s secure and easy to use, too.
3. Bankroll Strategy
A commonly used betting strategy is to bet a percentage of your bankroll. Your bankroll is the amount of money you set aside for betting.
Keep in mind that the percentage you bet determines how much you win. If you only bet less than 5%, you won’t win big, but your bankroll lasts longer.
4. Fixed Bets
No, this doesn’t mean that there’s cheating involved. This means that you bet the same amount of money, no matter what.
You might bet $5 for a basketball game, have another strategy for another sport. This way, your budget is easy to manage and you give yourself a chance to win more than with a bankroll strategy.
5. Odds Boost Strategies
Sportsbooks want your money and they’ll give you incentives to get it. They’ll offer odds boosts, where they increase the odds on matches.
They’ll often do this in the middle of a match. This is a great bet to take if the odds are in favor of a team that has a reputation for comebacks.
Beating Sportsbooks at Their Own Game
These betting strategies show that you can win money betting on sports. It makes sense to try different strategies so you can find the strategy that works for you.
Did you find these sportsbooks strategies helpful? Take a look at the articles on this site for more lifestyle tips.