While sports betting can be lucrative, it is full of traps for the inexperienced bettor.
Vegas and the books are in the business of making money, so bettors need to be aware of how to identify the ways oddsmakers have developed to drain the money from unwary bettors wallets.
To help, here is a list of the most common traps and how to avoid them.
First, bettors need to stay away from just betting on the better team.
A lot of casual bettors think that just figuring out which team is better is all they need to do to pad their pocketbooks. But experienced betters know that’s far from the truth, and understand that the way to beat the house is to actually figure out how the chances of the teams relate to the odds that are available.
That often means betting against the favorite team, which is the second mistake casual bettors often make. Betting against the underdog on every game and only wagering on games that involve teams that they are passionate about.
While it’s no secret that some teams are just better than others, savvy bettors know that the underdogs, especially in games that draw less public interest, often times go unnoticed, providing good betting value in that game.
Often casual bettors get seduced by the interesting games, but they need to keep in mind that at the end of the day, their winnings aren’t based on how interesting a game is, but how many bets they win and lose.
So they need not buy into the hype. The third pitfall of sports betting.
Experienced bettors rely on solid analysis, not the hype that the media is spreading on a player or a team. They base their betting on facts, history and stats. Sportsbooks look for the public to get overly excited about a team and then will adjust the line in their favor.
And while sometimes the hype might be justified, sports handicappers need analyze the situation, and bet accordingly. Not just accepting what they read online and in print, or hear on radio and television, until they confirm it for themselves.
Which brings us to the next pitfall. Avoiding the first number a bettor sees.
Many casual bettors focus their attention right away on who is going to win the game outright or cover the spread. And while that’s important, getting the best line is more important.
All sportsbooks are not created equal, and while some post unattractive lines in hopes of luring unsuspecting bettors in, others may have less attractive, but more realistic lines.
Experienced bettors know this, and spend ample time seeking out the best lines they can, avoiding the urge to just bet the games they want to bet at any price.
Finally, bettors need to avoid parlays, teasers and exotic bets that offer big potential payouts. Sportsbooks love to lure casual bettors in with the promise of huge winnings.
But bettors beware, as the odds for these bets are more often than not, stacked strongly in favor of the books.
This Article was brought to you buy Jon Price the sports handicapping legend from Sports Information Traders. Find more sports betting tips and advice from his analysts and learn how to efficiently wager on sports while avoiding the traditional traps that amateurs succumb to.