It is possible to make money when betting on sports, with many professional bettors making a good living from it. Here we look at some sports betting strategies that will help you become one of those bettors who can beat the sportsbooks, starting with the basic strategies for beginners before looking at some of the advanced sports betting strategies that can be useful.
In order to profit from sports betting there are some basic strategies every bettor needs to understand. These are strategies that can be used at any brick-and-mortar or online sportsbook whether you are using Indian betting sites or those anywhere else in the world. These strategies are not secrets but must be understood so that you can make an excellent profit from sports betting.
Pick a value bet
Create accounts with different online sportsbooks so that you can make a bet with the best odds to get maximum value for your money. You want “positive value” which is when the probability of a selection winning is greater than the implied probability of the odds. Knowledge of the sport gives possible outcomes and estimated probabilities. So, if you think Team A has a 60 per cent chance of winning, look at the odds for the game. If you find odds of 1.75 for the win, an odds converter tool implies the probability of 57 per cent and since you think the actual probability is 60 per cent, you have found positive value and can place a bet.
This strategy is one of the simplest sports betting strategies used by successful sports bettors. It can be developed to become more accurate in assessing probability, taking a wider range of factors into account.
Bet against the public
Another strategy is to bet against the majority betting public, also known as “fading the public”. In this instance, look for market movements caused by the weight of public money, and then bet on the other side. This may have worked in the past, but with modern technology, bookmakers take virtually every relevant factor into account when setting their odds and lines, including public opinion. However, the underlying theory still holds since the strategy works for major sports where there is lots of interest from recreational bettors, who generally bet on the most popular teams and players. Sportsbooks often adjust odds and lines to make it less appealing to back the popular teams and players, which can create value in going against the popular teams, using the basic value betting strategy.
Arbitrage betting guarantees a profit. This strategy exploits pricing discrepancies in the betting markets when at least two bookmakers or online sportsbooks offer significantly different odds and lines on the same outcomes. If a pricing discrepancy is big enough, betting on all the possible outcomes of an event will guarantee a profit. In a very simple example, a match between two teams has odds of 1.80 for Team A and 2.05 for Team B at Bookmaker One. Another, Bookmaker Two, offers odds of 2.03 for Team A and 1.82 for Team B. If you bet on both teams to win with Bookmaker One, a USD100 bet has the potential return of USD205. A USD100 bet with Bookmaker Tow gives a potential return of USD203. Therefore, a USD200 bet will guarantee a return of at least USD203, though wins can be much more.
Backing Heavy Favourites
Simply backing favourites is a strategy for those with no sports knowledge and you can make a profit this way, though more realistically you will lose. Heavy favourites win even more frequently, and the strategy is to back selections at very low odds, for the simple reason that they are very likely to win, though backing every low odds selection is unlikely to work long-term because the wins are small, meaning profit takes a while to become significant, but the win from dozens of wagers can be lost in just one unexpected loss. To be successful with this strategy, be selective by checking to see if the odds offer any value and if there is no value, do not bet.
Off Market Prices
Requiring no sports knowledge and no research or analysis, off market prices means looking for odds or lines that are significantly better than those from the rest of the market. These can be excellent betting opportunities but are rare. You simply bet at the higher odds for a player or team to win, working on the theory that the odds-on offer must represent good value when everyone else is offering lower odds. At a basic level, it’s not a recommended bet, but checking the basic value of the bet will help you decide.