Sports Betting: Statistics and Money Management
Before you decide to get started with sports betting, you should acquire some important knowledge related to statistics and money management that can allow you to have a better chance at beating your price per head bookie.
Sports Betting: Statistics
Although wagering on single-player events is not uncommon, the most popular wagers amongst sports betting playrs are the ones that are made on two-team matches.
Your goal is to pick a betting line based on the real chances of one of the teams to beat the other. When picking this sportsbook line, avoid basing your decision on the name of the team alone.
Instead, study both teams well for at least two weeks before making your bet. That way you will know the exact condition of the top players on both teams, allowing you to pick the squad that is arriving in the best physical conditions to the match.
There may be the case that one key player on the big-name team is injured, and another top player is not performing well lately.
With things like that, if the other team -the one that is considered the underdog or least favorite- is healthy, then this increases the chances of the latter squad to obtain a positive result that can allow a bettor to win his wager against his price per head bookie.
The above is just an example of how important it is to count with the right information in order to make a bet that will generate a profit.
It is fine if you want to see sports betting as a simple hobby, but if you really want to put money in your pocket, you must become very fond of statistics in order to turn such knowledge into winning bets.
Once you obtain the right data related to the statistics of your selected match or matches, then it is time for you to decide how much you want to risk in your wager against your price per head bookie.
There are two ways to bet:
- You can opt for risking a small amount of cash on a wager which contains a number of picks. For example, a parlay, or a teaser.
If you are successful, you can turn a small investment into a good amount of cash, but you must consider that the more picks you add to a wager, the tougher it will be for you to win.
- You can also opt for risking more cash on single wagers. This allows you to focus on studying only two teams for your selected match instead of having to check on the stats for many teams from bet with a number of selections.
If you wish, you can place single wagers for small amounts of money, and although the risk of losing a lot of cash is significantly reduced, the chances of making good profits also go down.
Now, it is also important to remember that if you want to beat your bookie and become a successful sports betting professional, you must work with a budget.
This budget can be large or small, it all depends on how wealthy you are right now. If your bank account is in good shape, then you can work with a considerable budget. Otherwise, the best choice is to work with a small weekly budget until your bets start paying up.