“If you’re betting on the NFL and the 1pm and 4pm games aren’t doing well, there’s a lot of people who can’t resist betting bigger and trying to win on Sunday night. Drew Dinsick, Lead Analyst at NBC Sports EDGE, said: “The truth is, by the time the match starts, no advantage bets are made. You’re really flipping a coin. is.”
If your losses are piling up, your best option is usually to stop, readjust, and wait for another day. In the world of sports betting, holes are dug quickly.
“I always tell people this. [betting] Michael Jenkins, co-host of BetMGM’s betting podcast “The Daily Tip,” said: “It’s like having a beer while watching a game. You want to sit and enjoy the game and have a couple to enhance the experience. I don’t want to do it.”
bet on your favorite team
When it comes to sports betting, many people rely on an ‘eye test’. Basically, you bet on the results of watching a particular team play. And it’s true that most professional bettors advise others to stay away from sports they don’t watch. However, recreational bettors tend to be overconfident in assessing team performance, especially when it concerns their favorite team.
This series examines the impact of legalized gambling on sports through news reporting, accountable journalism, and advice for navigating this new situation. read more.
Rob Pizzola, professional bettor and co-owner of betting tracking company betstamp, said: “That said, sports betting is a math problem. And when you put it that way, it’s a lot less appealing to people. start. [emotion]”
There’s nothing worse than watching your favorite team lose and losing money at the same time. But the closest thing that might come is betting on your favorite team and watching it prove you wrong. I remember
“I remember thinking, ‘I don’t feel right now,'” he said. “‘I don’t want to do it again'”
At this point, you’ve probably seen social media posts and news articles about fans betting $10 on complex multi-game bets and making a small fortune. These improbable big wins are a shining part of sports betting and heavily touted in the marketing of the sector.
However, parlay bets, which combine two or more bets in an attempt to win a large amount of money, are widely considered false.
“It’s definitely the biggest temptation,” Jenkins said. “We’ve all done it. Usually you can win a parley or two if you play long enough. But the sportsbooks themselves advertise these huge viral wins.” There’s a reason why, sometimes you might want to take a shot, but if you try regularly, you’re guaranteed to lose.”
Sportsbook holds are generally much larger for parlay bets than for single game bets. That means the house keeps a higher percentage of every dollar wagered. When it comes to parlays, sportsbooks hold a major edge.
“If someone wants to bet for fun and is excited about the potential for big payouts, that’s fine. Who am I to tell them not to?” Pizarra said. , it’s important to understand that once you start parlaying the game, the sportsbook’s edge grows, and that’s exactly what they want from you.”
Stick with one sportsbook
This is a common mistake due to lack of time and effort. Many bettors he sticks to one sportsbook. That is, at the mercy of the line set by that outlet. By looking at multiple sportsbooks, you are sure to get the best odds.
“By opening multiple sportsbook accounts you can start line shopping, which I think is the most important aspect of getting bettors,” said Pizzola. “By finding and betting on the best available odds, you have a much higher chance of winning in the long run.”
If you think of line shopping the same way you look for the lowest price on any other product, your strategy becomes even clearer.
“It’s just price sensitive,” Pizzola said. “People are price sensitive in their day-to-day lives anyway. But for some reason, it doesn’t happen enough in sports betting.”
Similarly, many experts, including The Post’s Neil Greenberg, say that most recreational bettors simply wait too long. By not placing a bet until game day, “you’re betting on a number that the sportsbook is very confident about,” Pizzola said. Betting early in the week, before the sportsbook sharpens its lines, is a better strategy.
have the wrong idea
Bettors often approach the whole venture with the wrong mindset. Too many fans embark on a gamble hoping to turn their passion and knowledge into money quickly and easily. It just disappoints you.
“There are a lot of people who enter this field because they want to get rich out of it,” said Dinsic. “The mindset of people who get caught up in this problem and think it will have a positive financial impact on their lives is a common mistake.”
Note that bet success rates above 55% are considered very profitable. Such numbers are rare and hard-earned.
“Everyone I know who makes money doing this has experienced long-term losses. You pretty much have to pay that toll,” said Dinsic. As in many areas you are not going to learn how to do this by reading about it. You have to bet money and lose and learn the hard way to truly grow as a sports bettor. not.”
Illustration by Lily LK for The Washington Post.