Here is a quick overview of what bettors should know and be doing to not only increase one's chances of winning but to also help them gamble responsibly and have fun doing it.
The sports betting industry, like Wall Street, is volatile. Bookmakers alter the odds throughout the day based on the activity they're taking and other news, such as injuries and weather.
For instance, if Team A begins as 7-point favorites and the great majority of bets are on them, their line might increase from -7 to -7.5. It's possible that the line may move much farther to -8, or that it will be "bought back" to -7.
While on the subject of lines, it's a good idea to compare lines from multiple sportsbooks. Lines might differ depending on the sportsbook because various bookmakers cater to different types of customers.
When it comes to how much to bet, a reasonable rule-of-thumb is to risk only what a player can afford to lose. Remember that sports betting is a marathon, not a sprint. There will be good days and bad days. That's why there's a great strategy called flat-betting.
Flat-betting entails wagering the same amount on each game and only risking 1% to 5% of a player's bankroll on each wager (the bankroll is the starting amount players have at their disposal to bet with). If punters have a $100 bankroll, for example, they should risk no more than $5 per game.