Its estimated that $40 billion in wagers will be placed during the 2018 MLB season. College football and the NFL managed to rake in over $90 billion during the 2017 season, although its quite difficult to be 100% sure as most of the wagers were placed off the books. But this is just two seasons of two different sports in the world.
With this kind of money being thrown around in the world of sports, it seems like there should be a way to get your hands on some of it, right? Well, this is exactly where sports bettors come in. While Amateur bettors lose quite a bit, there are professional sports bettors that make a living of placing wagers on sports. Even if you don’t want to be a full-time bettor, it doesn’t hurt to have a second income by simply wagering on sporting events. However, you will first need a basic understanding of sports betting before you venture down this potentially lucrative road.
Handicappers and Bookmakers
The chances that you’ll end up with a bookie or bookmaker is inevitable, especially if you plan on betting online. A bookmaker is essentially a business or individual that sets the odds for each sport and takes the bets. Handicappers, on the other hand, are people who calculate spreads and odds. They usually have quite a bit of knowledge on each sporting event, player statistics, and teams that will likely have an affect on the outcome of the game.
Different Types of Bets
Once you have a reputable bookmaker or bookie, you will need to learn and understand the different types of bets you can place on each sport you wish to wager on. There are quite a few betting types available in the world of sports betting and to become a successful bettor, its vital that you understand how each of them works and how much you stand to win from the bet you place. For instance, you will find Moneyline bets, Win bets, Over/Under bets, Totals bets, Handicap bets, Point Spreads, Outrights, Futures, Parlays, Specials, Proposition bets, Accumulators, and more.
Keep An Eye On Roster Changes
Teams and Athletes get analysed very frequently, ranging from technical performances to statistics. As a sports bettor, you will need to consider these factors as well when placing a bet as they will greatly affect the outcome of the game. Since athletes are essentially people and they make up a team, it’s vital to follow news surrounding the team and look for any major updates or injuries.
Maintaining Your Sanity
Any form of gambling can potentially be very addicting. Before you decide to place a bet on your favourite team, you need to ensure that your priorities are in order. Set clear goals for yourself ahead of time and ensure you are able to manage your bankroll effectively. If you decide to have an additional income from sports betting, you need to leave emotion out of the equation.