There are no rules to sports betting – only those that define how wagers are made, how much they pay out, and what constitutes a winning bet. In other words, you can bet on whatever you want, for whatever amount you want, and using whatever type of wagering opportunity is available.
If you want to continually put $100 on six-team parlays, you can. If you decide to take all of your available funds for a week of sports betting and let it ride on the Seattle Mariners who are listed at +250, you’re certainly able to do so. If you place only minimum bets on the three or four games that you believe offer you the best chance of winning, more power to you.
However, before you start betting on sports, you should at least be aware of the fact that there are certain types of bets that are favored by professional bettors, specific types of methods that they employ, and predetermined money management practices that they use.
Here are five key attributes that define many professional sports bettors – especially those who consistently make money on their wagers.
Professional Sports Betting Articles
- Betting Against an Undefeated or Top-Ranked Team
- Betting on Multiple Sports
- Betting on NFL vs College Football
- Betting on NBA vs NCAA Basketball
- Early Versus Late Lines and Movement
- Losing Streaks and Circling the Wagons
- Parlays and Other Such Bets
- Reviewing the Week’s Sports Picks
- Smart Money and Sports Betting
- The Gambler’s Fallacy
- The Truth about Pick Services
- Tips on Preseason Wagering
- Tips on Early Season Betting
- Tips on Mid to Late Season Wagering
- Tips on Playoff and Tournament Betting
- Wagering on a Good Team after a Blow Out
Successful sports bettors tend to be disciplined when it comes to making bets, using their bankroll, and performing their handicapping chores. Think of it this way: If you’re not disciplined as a sports bettor, do you think you have a good chance of using your bankroll effectively? The answer is probably not. Sports bettors need to control every aspect of their enterprise. It helps if they can wager without letting their emotions get in the way. Emotional better can really damage someone’s thinking in terms of picking winners and controlling their cash flow.
Two: Solid Money Managers
Speaking of cash flow, it’s been found that successful professional sports bettors are solid money managers. They break their bankroll down into units, never risking too much on a bet, and they understand the impact losing has on their ability to perform efficiently and successfully. Sports betting involves risk. What professionals want to do is limit their risk. One way they can do this is by engaging in sound money management practices.
Three: Exceptional Sports Knowledge
If a professional sports bettor is focusing on NHL betting, then chances are they know the sport’s rules and strategies, those involved in the sport, and all betting aspects of the sport upside down and inside out. Any professional will tell you that if you know nothing about soccer, don’t bet soccer. The same is true for baseball, football, and any other sport. Wager on what you know – but before doing so, become a student of the game.
Four: Smart Money Bets
There are a few ways to define smart money bets. The first is according to the type of bet that’s involved. Most professionals stay away from parlays – especially those involving more than three teams – don’t bet most props, and don’t engage in wagering on exotics.
Where they put their money is on point spread, moneyline, and totals bets. Why do professionals prefer such wagers? First and foremost, these bets lend themselves to ready analysis. There are plenty of stats, facts, and actions for someone to review and use when handicapping teams in order to make a spread, line, or totals wager.
Also, they are simple, straightforward wagers, which means that there are not a lot of options involved when you bet using the spread, line, or over/under. You simply win or lose depending upon the outcome. Thus, as a professional bettor, you can use real information in your analysis of the game and make an intelligent pick based on a range of information. You cannot do that with most other bets.
Smart money also refers to where sports bettors put their cash on a specific game. The question, “Where is the smart money going?” means on which team are the “in-the-know” bettors placing their bets. Smart money bets are solid in every way and have the best chance of paying off.
The general betting public does not usually make smart money bets. They almost always wager on the favorite, and that means that they lose a lot.
Five: Exacting Record Keepers
Professionals treat sports betting exactly as they should – as a business. That means that they do what every businessperson does: keep solid records of their expenses, losses, and gains. If sports bettors overlook this, they run the risk of losing everything. By tracking how they are doing and which types of wagers are working best for them, the pros are able to make adjustments, refine their technique, and take advantage of smart betting opportunities.
Bet Intelligently, Your Way
Does every successful sports bettor embrace the five attributes discussed above? Not always. However, most practice three or four of the five, and many do follow all five. Do they ever veer off track? Yes, they do. They are human. Sometimes, they make the bet they should not, stretch their account too thin, or get lazy and don’t do the research they should.
But the reason they manage to stay in the game for the long run is that overall they are solid in terms of the five attributes discussed above. Once again, there are no rules regarding how much you bet, what you bet on, or what sort of bet you place. But there is common sense that tells you in order to make real money on sports betting and not just score some cash on a one-shot hit, you have to be dedicated and disciplined on all levels.