Sports betting requires knowledge, research, and strategy. While luck plays a role, having a method is essential. Not all strategies are equal, so it’s important to separate the useful from the futile. No strategy alone is a substitute for understanding the nuances of sports betting. Once you have a solid foundation, a betting strategy can become a valuable tool. We’ve outlined our favorite strategies to enhance your online gambling experience. Explore these approaches and check out our recommended sites to put them to the test.
Strategies for Betting on Underdogs
Betting on underdogs requires careful consideration, as these teams or players are usually considered less likely to win. It’s important to be cautious when evaluating their odds.
However, astute bettors can identify market inefficiencies, especially in moneylines and point spreads.
When working with underdog moneylines, the goal is to capitalize on potentially large payouts. For instance, if you notice that the New York Giants are listed as +650 underdogs against the heavily favored Green Bay Packers in NFL betting odds, the idea of earning a $650 profit for every $100 wagered is enticing. Nevertheless, the odds reflect a low probability of a Giants victory.
However, if you genuinely believe the Giants have a better chance than expected to win, such as due to Green Bay’s injured quarterback, or if other sportsbooks offer shorter odds for New York, then you may find value in betting on long-shot outcomes.
Playing underdogs on point spreads involves a different approach. Here, the focus is not on identifying potential winners but on finding significant underdogs that are likely to cover the spread. For example, if the Giants are +17.5 underdogs, they need to lose by fewer than 18 points (or win) to cover the spread. In situations where there is a large margin for error, such as when a team takes its foot off the gas after building a big lead, it may be worth considering betting on the underdog to cover.
Teaser Betting Strategy
Teaser betting can be effective when done correctly. It involves adjusting the point spread to increase the odds of winning while minimizing the impact on payouts.
For instance, in college basketball, if two home teams are listed as +18 underdogs, it could be a suitable situation for teasing the point spread. By adding +6 points to both underdogs, they would only need to lose by fewer than 24 points, which is achievable considering home teams often perform better in front of their fans.
Teaser wagers should be tested with games that you have a good understanding of. Whether you have extensive knowledge of both teams or possess a deep understanding of the league, teaser betting allows you to manipulate the point spread to increase the chances of a successful pick or enhance the potential return.
Arbitrage Betting Strategy
Arbitrage betting, also known as “sure bets,” involves placing wagers on both sides of a game at different sportsbooks to guarantee a profit. This strategy requires experience in interpreting moneylines and identifying suitable arbitrage opportunities.
Arbitrage betting works best in either-or outcomes and is particularly valuable in moneyline bets with significant discrepancies between sportsbooks. It is most effective for high rollers who can make large wagers where even a small profit percentage can yield substantial returns.
To execute this strategy, you need to identify situations where one sportsbook favors a medium-sized favorite while another sportsbook considers the same team a heavy favorite. By betting on the favorite at the first sportsbook and on the underdog at the second sportsbook, you can secure a profit regardless of the outcome.
Moneyline Parlays on Favorites
Finally, let’s talk about a popular betting strategy: moneyline parlays on heavy favorites. While no victory is guaranteed in sports, there are games where the favorite’s win probability is extremely high.
Although betting on individual heavy favorites may not yield significant profits, combining their moneylines in a parlay can increase your potential return. For example, if you choose to parlay the moneylines of teams like the Chiefs (-750), Lakers (-550), Miami Heat (-600), Dallas Cowboys (-800), and New England Patriots (-500), a $100 wager could more than double your investment if all five teams win.
Naturally, some people may be skeptical of this approach. The more teams you include in the parlay, the greater the likelihood of missing on one and losing the entire bet. However, since you’re focusing on heavy favorites with moneylines of -500 or better, you’re dealing with more predictable outcomes and making a 2-to-1 payout more attainable.
To make the most of this strategy, it’s important to act quickly and place your bets early. Sportsbooks may remove or adjust the lines for heavily favored teams if the odds become too lopsided.
Remember, while these strategies can provide opportunities for potential profits, betting always carries risks. It’s crucial to bet responsibly and make informed decisions based on thorough research and analysis.