Sportsbook 101
Money Management Tips
Money management is the key to a successful betting experience. Over the years many patrons of online betting sites have had much success, yet for every successful gambler there are many who have difficulty online as well. Today we look at five essential tips to money management.
1. Beware of the Grind - When gambling for the first time it is important to come to the realization that you will win but you will also lose. The world of gambling is like the stock market it has highs and lows and by setting a budget for yourself, you will not fall victim to the emotional rollercoaster known as the grind. The grind is when you the bettor tries to at the very least break even and this is due to not managing your money properly.
2. Bet Within In your Comfort Zone - Easily the most essential tip of money management. If you are only willing to lay a small percentage of your money, never change this strategy.
3. Don't Chase Your Losses- Similar to the first tip of beware of the grind, chasing your losses will only hurt you in the long run. Within your budget take into account how much you are willing to lose and if your losses get to be more then you anticipated, you should stop betting for the day.
4. Never Bet More Than You Can Lose- As the name of the tip suggests, this is the biggest factor in money management. A gambler who predetermines their losses is more likely to have success at the casino or sportsbook then a gambler who is willing to let a losing streak build in hopes of getting out of it.
5. Don't Let Emotion Be the Deciding Factor- Money management provides the foundation for the most unemotional wagering experience. In essence by predetermining how much you are willing to wager, the only sense of emotion you will receive is joy by the end of the day because your winnings are predetermined.
5 Reasons To Have Multiple Betting Accounts
In the world of online betting, trying out a number of sportsbooks and casinos is extremely important. Through testing a wide array of sportsbooks one can decide which site provides the best action for him or her. Here are five reasons why you should not only try out a wide array of sportsbooks but why you should also have multiple betting accounts for a more enjoyable gambling experience.
1. Value- When getting involved with only wagering, it is important to shop around and look for the best lines as these provide you with the best value for your money. One of the best reasons for having multiple accounts is that you can take advantage of different betting lines at more than one site.
2. Bonuses- When you look on sportsbooks for the best one, you want two things, value lines and bonuses. For new bettors bonuses are the make and break for how a sportsbook sells you on joining them. Look at top ranked sportsbooks such as 5Dimes and BetJamaica these sites have more bonuses then customers and they have over a 100 customers.
3. Type Of Bets Offered- One of the best aspects of being a sports gambler online is that each sportsbook is competing for your business. To get you to stay longer at their site, most sportsbooks give you a wide variety of bet lines and other products. By opening multiple accounts for sports sites you can take advantage of all the opportunity the gambling world provides.
4. Limits -While exploring the best options in the sportsbook world, it is important to look at sites that fit your budget. An important aspect to surviving in the sportsbook world is money management. Most sites have a limit of about $5000 as the maximum bet.
5. Reliability- On top of great lines, bonuses and a lot of options the bettor wants a site that is reliable. When opening more than one account, this is even more of significant as you want a website that has easy communication and can be depended upon.
3 Reasons To Bet Online (Rather Then In Person)
Ever since the internet was created in 1989, the online betting industry has been around. Providing a gateway for people to make money without leaving the comfort of their own homes. In the 21 year history of the online betting industry, it has gone from a casual niche market covering casino and poker games, to a multibillion dollar industry, in which anyone can bet on anything. Below are three reasons why betting online is much better then betting in person.
1. Developing a Winning Strategy - In both online and in person gambling, one can always develop a winning strategy. However, betting online instead of in person is much better when creating a winning strategy, because you have access to various sites which can assist you during in placing the best online bet. On the contrary, in person, although you are able to study the odds from a particular bookie section, the odds may not be up to date, which is better for the house rather than the patron. When you can bet through the computer, you can go to a site such as BETCRIS and find all the most accurate betting lines.
2. Location - As noted above, betting online is better than betting in person, because of the luxury of cruising various internet sites. Location wise, to bet in person is a bit of a hassle because one must travel to either a casino in a legal part of the city they live in or travel to another country where gambling is legal. Location is an essential reason why betting online is better than betting in person, because as long as you have a bank account, you can go on any Sportsbook website and have your gambling desires be fulfilled.
3. Intelligence - Being intelligent is the main reason betting online is better that betting in person. On Sportsbook sites, you the patron are always in control of your actions. In person, this is not always the case, as once you lose in person many will want to stay and place larger bets to make back their losses. On the contrary, online, many patrons set a budget and given bonuses, so when they lose their money they know it is time to leave. Furthermore, by betting online, it is far safer than in person, because you are always in control of your actions and alcohol which is normally offered by casinos will not be influencing your decisions.
The Historical Data Trap
As bettors prepare for Florida Alabama betting lines and other big sporting events in the near future, many sharps will do their homework, studying stats galore for hours on end. Anyone betting on the SEC championship game, for example, will examine last year’s 31-20 Florida victory to look for clues about this year’s result.
Usually, studying the numbers is a good thing, but there can be pitfalls if you read too much into historical data – particularly about team vs team history.
Take the Patriots and Dolphins’ AFC East rivalry in the NFL, for example. The two storied foes meet this week in Miami and some bettors will immediately think, “Gee, it’s great that these two teams play twice a year, as I can examine some long-term statistical trends regarding their matchup.” Those types of foolish bettors will see Miami’s 11-6 home record versus the Patriots since 1992 and get excited.
That stat is a perfect example of why you can definitely look too far back at historical trends. For many of those Miami victories, some guy named Dan Marino was the Dolphins’ quarterback. Some guy named Tom Brady wasn’t the Patriots’ quarterback.
The better stat is the recent data; the Patriots are 4-1 in their last five meetings with Miami and have won each of their last two trips to Miami, beating the spread in the process.
When making your football picks or any sports picks, it’s not a bad thing to look at team vs team history. But you should only go as far back as the key players on a team’s roster go. Ignore the pre-Belichick Patriots’ record against Miami; that information is completely irrelevant as all the players on that team are gone.
Remember to be careful when trying to trust history in your bets!
Sports Betting 101– Getting Value From Book To Book
When it comes to sports betting, every professional knows that you have to have multiple accounts. While it’s nice to have a one-stop shop, the reality is that if you want to win money long term you have to shop around for the best lines and you have get bet the best value when you bet on a team.
When it comes to betting on point spreads, you can gain anywhere from a half-point all the way to two or three points when it comes to betting at different sportsbooks.
When it comes to moneylines, searching around for the best price is key if you want to pay the lowest price for favorites and get paid the most for underdogs.
The key to getting the price is to have multiple sports betting accounts with different shops. If you only have one account, you are stuck with whatever lines they provide you with.
Some people don’t like opening up several accounts because of hassle and security concerns, but those are minute. For example, some people don’t like the fact that it takes time to open up several accounts, submit your information and deposit into each account.
While that may be an issue, the reality is that if you’re a professional player or if you are serious about winning money in sports betting, you have to shop around for the best line.