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Betting Sports Video

Sports Betting: Billy Walters

Explore this Article parts. Related Articles. Article Summary. Part 1 of Open a specific bank account.

When you open this account, be sure you invest enough money to cover your bankroll for an entire season or year, not just a single game.

Create accounts with a few sportsbooks. Some sportsbooks also offer signup bonuses, so be sure to shop around. Learn to make smart bets.

For instance, while each bet should represent about one to two percent of your bankroll, you can reduce this to 0. Similarly, you can increase the bet if you're very confident, but never place a bet that exceeds four percent of your bankroll.

Many experts recommend not betting on your home team in any sport, because your bias can cloud your judgement, and this can lead to great losses.

Create a betting schedule. This refers to the practice of trying to recoup losses from a previous bet with more betting.

Have a betting schedule or routine and stick to it. Bet sober. This refers to betting with a clear mind and focus. Many people will read this and think it is common sense but you would be surprised how many people break this rule.

Emotions can get the best of all of us, and bad decisions can be made from those emotions. Part 2 of Understand moneylines.

The team associated with the minus number the Leafs is the favored team, while the team associated with the plus number the Canucks is the underdog.

However, you can bet on the moneyline for almost every sport. Learn about point spreads. Point spread betting is more popular in games where there's a larger gap between the final scores.

Understand parlays. Parlay betting involves making multiple types of bets on the same game. For example, if you combined a moneyline bet and a point spread bet on the same game, this would be a parlay bet.

These bets often offer large payouts, but they require a great deal of accuracy. Part 3 of Shop for the best lines. This is where having accounts with multiple sportsbooks will come in handy, because some will offer better moneylines on the same games, meaning you have to risk less for the chance to win the same amount of money.

The best time to line shop is about an hour before a game. Make bets based on the odds. Betting with your head instead of your heart is all about making smart bets based on odds rather than emotions.

For instance, if you're betting on a baseball game and think the Yankees are going to win, you might still be better off placing your bet on the Jays if the odds are right.

Its major shortcoming is that it has high rollover requirements that customers might find difficult to understand. MyBookie is one of the newest top online sports betting sites in the market.

It was established in in Costa Rica and is fast growing to compete with other older bet staking sites.

For mobile wagers, however, there are no limits. Wagering options for MyBookie include straights, totals, open wagers, action points, teasers, reverses, if bets, futures, and money lines among others.

For reloads, they offer a 20 percent cash bonus. This makes it one of the best sports betting sites. Its mobile platform has a user-friendly interface that makes it very easy to use.

Their customer service is also highly efficient and offers top-notch customer service. This puts them among the best online betting sites today. If they develop a reputation for setting accurate lines, they might be hired by one of the Las Vegas casinos, the only places that can legally hire oddsmakers in the United States.

It is rare for an individual oddsmaker to set a line by himself. Most sports books employ teams of oddsmakers who meet with each other and pool their knowledge before they agree on a line.

Becoming an oddsmaker isn't easy -- there are no oddsmaker schools. Plenty of books describe handicapping and oddsmaking, but the only way to get an actual job as an oddsmaker is to have lots of experience.

Some of them learned the business from relatives, while others just hung out at old sawdust rooms and pool houses, learning everything they could about the game.

They watch sports constantly, read dozens of newspapers, and have friends and contacts around the country to provide detailed information on every team and every game.

People have been informally betting on sports just about as long as there have been sporting events. Organized sports betting took off in the United States at the horse racing tracks that sprang up in the s.

Betting really caught on in the early s when the pastime became more accessible to the middle and lower classes.

At first, an auction system was used. Bettors bid on a lot that represented one horse in a given race. In this system, the bettors themselves automatically set the odds.

Each bettor was vying for the full pot, and whoever had the lot for the winning horse got it. Horses that were highly favored to win were auctioned off at much higher prices, since the holder of that lot had the best chance of winning the pot.

Lower-rated horses allowed bettors to take a chance at the pot for a smaller bet with a reduced chance of winning. The auction system was limited because you could only take bets for the number of horses in each race.

While some bookies opened multiple auctions on a single race, they still missed out on a lot of handle.

The solution was to offer odds on each horse. Longer odds like meant a higher payout but a lower chance of winning.

Horses given better odds were more likely to win but paid out at a lower rate , for example. A similar system was used in other sporting events, such as boxing and early football games.

It was hard for oddsmakers to set the odds accurately, and when a long-shot team came up with an upset win, bookies lost a bundle.

Around World War II, the point spread concept was developed [ ref ]. This made betting on sports even more popular. The broadcast of sports on TV kept the cycle going -- sports became more popular, which made betting more popular, which made some people enjoy sports more.

Sports betting hasn't always been legal in Nevada. Once the state legalized it, bookies were required to pay a ten percent tax. The Vegas action used to take place in smoky back rooms, filled with anxious bettors watching chalk boards for the latest line.

Then casinos got into the sports betting business, opening plush betting parlors with video screens and free drinks.

Some people oppose sports betting because it can have an effect on the games themselves. The number of scandals related to gambling in the 20th century alone numbers in the dozens.

Before point spreads, it was risky for a gambler to attempt to manipulate a game. He had to find a player who was willing to lose the game in return for a bribe.

But although it was risky, manipulation happened often. In the early s, gambling was a well-known, if not well-liked, part of professional baseball.

Gamblers gathered in one section of the stands, placing bets on everything from the winner of the game to the outcome of the next pitch.

These eight players became known as the "eight men out. Point spreads lead to a more subtle kind of manipulation -- point shaving. College basketball is particularly susceptible to this practice.

If a team is favored by eight points, gamblers don't have to bribe players to lose the entire game. They just have to convince them to win it by less than eight points.

Football has been the target of point shaving efforts as well. The Colts were favored by three or four points. In overtime, the team was in a position for an easy field goal, which would have won them the game by three points.

Instead, they kept trying for a touchdown, which they eventually made, winning the championship and covering the spread [ ref ].

No real evidence was ever found that the owner actually influenced the plays called on the field. He was subsequently banned from baseball for life.

For lots more information on sports betting and related topics, check out the links on the next page. A common question about sports betting is, "Can I make money betting on sports?

Some bettors get lucky in the short term, but over a long series of bets, the gambler will almost always lose money. On average, you have to win The famous gambler Lem Banker once referred to this as "the implacable reality of to" [ ref ].

It's difficult to win If you bet steadily for several years, all you're likely to accomplish is sending your bookie's kids to college.

Winning at sports betting takes time and dedication, but there are some strategies that you can use to increase your chances of winning.

Always bet with a clear and focused mind, so bet sober and avoid betting on home or favorite teams since this could cloud your judgment.

As you start betting more, open a specific bank account and put enough money in it to cover an entire season or year. To learn how to take advantage of matched betting, keep reading!

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Learn why people trust wikiHow. Explore this Article parts. Related Articles. Article Summary. Part 1 of Open a specific bank account.

When you open this account, be sure you invest enough money to cover your bankroll for an entire season or year, not just a single game. Create accounts with a few sportsbooks.

Some sportsbooks also offer signup bonuses, so be sure to shop around. Learn to make smart bets.

For instance, while each bet should represent about one to two percent of your bankroll, you can reduce this to 0. Similarly, you can increase the bet if you're very confident, but never place a bet that exceeds four percent of your bankroll.

Many experts recommend not betting on your home team in any sport, because your bias can cloud your judgement, and this can lead to great losses.

Create a betting schedule. This refers to the practice of trying to recoup losses from a previous bet with more betting.

Have a betting schedule or routine and stick to it. Bet sober. This refers to betting with a clear mind and focus. Many people will read this and think it is common sense but you would be surprised how many people break this rule.

Emotions can get the best of all of us, and bad decisions can be made from those emotions. Part 2 of Understand moneylines.

The team associated with the minus number the Leafs is the favored team, while the team associated with the plus number the Canucks is the underdog.

However, you can bet on the moneyline for almost every sport. Learn about point spreads. Point spread betting is more popular in games where there's a larger gap between the final scores.

Understand parlays. Parlay betting involves making multiple types of bets on the same game. For example, if you combined a moneyline bet and a point spread bet on the same game, this would be a parlay bet.

These bets often offer large payouts, but they require a great deal of accuracy. Part 3 of Shop for the best lines.

This is where having accounts with multiple sportsbooks will come in handy, because some will offer better moneylines on the same games, meaning you have to risk less for the chance to win the same amount of money.

The best time to line shop is about an hour before a game. Make bets based on the odds. Betting with your head instead of your heart is all about making smart bets based on odds rather than emotions.

For instance, if you're betting on a baseball game and think the Yankees are going to win, you might still be better off placing your bet on the Jays if the odds are right.

Take advantage of matched betting. Matched betting involves taking advantage of the bonuses and incentives offered by books to place bets for and against the exact same event.

Matched betting is all about taking advantage of free bets and betting for both possible outcomes on the same game, so this type of betting is as near to risk-free as you can get in gambling.

That's the spread -- the under dog is plus 7. Payouts are done using rapid transfer, otherwise known as money gram. Bovada allows sports betting online on their user-friendly mobile interface or in their state of the art poker and casino gaming rooms.

The only limitation to using Bovada is that the odds are posted late and that they have very low wager limits. Licensed and regulated in Panama, BetOnline offers sports, live, poker, casino, and live dealer types of betting.

It offers a wide range of payment options and several accepted currencies, thus making it one of the most convenient sites for customers across the world.

However, bonus levels are tiered for different types of wagering. The online game library is categorized into 3D slots, table games, slots, and video poker.

Most of the bets are placed online since their mobile platform only allows sports betting. Maximum and minimum deposits and withdrawals are different for different payment options that are offered on BetOnline.

Its major shortcoming is that it has high rollover requirements that customers might find difficult to understand. MyBookie is one of the newest top online sports betting sites in the market.

It was established in in Costa Rica and is fast growing to compete with other older bet staking sites.

For mobile wagers, however, there are no limits. Wagering options for MyBookie include straights, totals, open wagers, action points, teasers, reverses, if bets, futures, and money lines among others.

For reloads, they offer a 20 percent cash bonus.

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