Connecticut sports betting has arrived! Thousands of players have made bets in the last three weeks. And it looks like the number of wagers is about to multiply with mobile betting now in play. So, I continue to learn and post my plunge into sports betting. So, here are 10 Tips for a Positive Sports Betting Experience.
10 Tips for a Positive Sports Betting Experience.
It’s fun to bet on a team because of a gut feeling, jersey colors, or liking the mascot. Players can rationalize whatever superstition or random event they use to justify a bet. However, it’s not a winning strategy to make money long-term.
Related Post – Beginner’s Guide To Sports Betting
#1 – Don’t Bet on Everyone’s Favorite Team.
Are you someone who follows the big franchises? Don’t buy into the general public’s favorite teams just because of years of championships. NFL teams such as the Dallas Cowboys and Pittsburgh Steelers, MLB’s New York Yankees and L.A. Dodgers, and the NBA’s Boston Celtics and L.A. Lakers all received outsized attention from the media and sports fans in general.
The expression “what have you done for me lately” should be considered. So, instead of following the crowd, +EV bettors should think if a favored team is a good value.
#2 – Don’t Necessarily Bet on The Home Team.
It’s thrilling to always bet on your home team as a loyal fan. But +EV bettors who want to make money don’t make that a consideration. If you’re gambling with your heart, you aren’t taking into consideration expected value. So, when placing a wager, it’s time to take off your jersey; bet on the one that gives you the best deal that day.
#3 – Rivalries May Be A Big Consideration
One of the most extraordinary things about sports is the rivalries. Winning a bet driven by rivalries makes it even better. Therefore, if the sports line shows your favorite team is a big underdog against a rival, that could be the time to bet. I’m not saying your team is going to win. I’m just saying they may win against the spread.
#4 – Try Betting on Less Popular Leagues
You don’t have to bet the leagues everyone else is wagering on. The WNBA gets a fraction of the NFL’s handle, but that means it gets a fraction of the bookmakers’ attention. That doesn’t mean they don’t have the time to make solid lines but, in general, niche markets like women’s basketball, PGA golf betting, and professional rugby. The hype (and handle) surrounding popular sports all-but forces books to make sure lines for their most bet-upon games are making them money.
#5 – Bet Against the Public – 10 Tips for a Positive Sports Betting Experience.
What keeps Vegas staying in business is, more often than not, the public loses. So why not bet against the crowd?
Over the long haul of a season, the average Joe bettors end up giving it back along most of their bankroll. Why? Because the average public bettors ignore betting analytics data. They bet for entertainment. They spend 5 minutes or less deciding on who to bet. Consider this, Wall Street investors are known to purchase stock when everyone else is selling. And sell stock when everyone else is buying.
#6 – Be Wary of Heavy Favorites – 10 Tips for a Positive Sports Betting Experience.
Betting underdogs is not always a good wager. Underdog’s cover point spreads just about as often as favorites. +EV bettors consider the value assigned to both underdogs and favorites, then determine if they see a discrepancy between how they weigh the teams.
But, people pay far more attention to teams at the top of their league than those at the bottom. That means that underdogs can sneak away extra value if bettors take the time to weigh their worth.
#7 – The Coach Chokes Under Just the Right Circumstances
10 Tips for a Positive Sports Betting Experience wants you to consider the coaches. Some coaches are better than others, especially in big games. The coach of your favorite team may also have a similar tendency to do poorly in certain games. If you have proof (in other words, statistics or numbers that bear out such streaks), then you could find a reason to bet on your favorite team. Just be careful. Eventually, these “choking” streaks tend to right themselves.
#8 – Ignore Media Hype
Sports media is paid to manipulate public perception, just like meteorologists sensationalize the weather. It’s especially true in baseball and football. In a recent example, the Boston Red Sox were on their way to the World series only one week ago. Then, however, it turned on a dime, and the Astros won the ALCS.
Warren Buffett, the CEO of Berkshire Hathaway. Who made a fortune of over $84 billion follows the 99/1 rule. So, do not overreact to news stories and headlines. Only listen to only 1 percent of the financial news you hear.
#9 – Consider Weather Conditions
Being a local means knowing the weather better than Vegas oddsmakers, which only counts for outdoor sports. Still, if the forecast around the beginning or middle of the week called for sunshine, but towards the end of the week, things look like rain when your favorite team plays, you might have a reason to bet on them. But, make sure that you’re reasonably certain that the weather will change and that the line hasn’t moved a few points since the weather reports started coming in.
#10 – The Best Bet is Usually No Bet.
The most important of the 10 Tips for a Positive Sports Betting Experience concerns making that wager at all. Though bettors should consider the values of both favorites and underdogs, neither is worth a bet more often than not. For example, many bettors will try their luck on an NFL weekend at every game of the day. Therefore, a +EV bettor only bets on those which he thinks there is a value.
Not making that bet is less “fun” than hoping to hit a 16-leg parlay, but it’s far less likely to make money than a few choice bets placed with value in mind.
And, just because you can bet on your favorite team does not mean you have to. You want to be sure that the bet you place has a reasonable chance of winning. If you’re not sure, you shouldn’t bet. For instance, if you’re from Florida, how easy is it to “know” that Tom Brady will throw for at least three touchdowns a game.
Consider all possibilities before making a bet. Then, if you do your homework and still lose, at least you can say it was an informative loss.
Next, I’ll dive into the world of parlays.