Sports betting is a way to place wagers on sporting events. It involves analyzing team and individual statistics, injury reports and other factors to make a betting decision.
The oddsmakers at sportsbooks use decades of experience and substantial financial and human capital resources to create lines that can be nearly impossible for a casual bettor to replicate. Even the most profitable sports bettors win only about 55%-56% of their wagers.
Expected value, or +EV for short, is a common term that gets bandied about in the sports betting community. Unlike a casual bettor, a +EV bettor seeks to beat the oddsmakers by finding wagers with a higher probability of winning than their price.
Using +EV is essential to making money in sports betting. It can take time to develop, but if you stick with it, it’s a great way to increase your bankroll and improve your overall sports betting strategy.
Do Homework
To be a successful sports bettor, you need to do some research before placing a bet. You need to know how a team performed in the past, what injuries or suspensions they may have and what trending topics are likely to affect the game.
Specialize
The best sports bettors specialize in one sport and follow it closely week after week. This will allow them to stay on top of their teams and players, and give them an edge over the oddsmakers.
Lines move
Sportsbooks usually update lines based on injury reports, weather and other factors that can impact the outcome of a game. In some cases, the oddsmakers adjust the line to force more bettors into one side or another. However, it can be beneficial to shop the lines and look for small discrepancies that can add value to your bets.