Betting on sports can be an exciting way to engage with your favorite games, but turning it into a profitable venture requires a disciplined approach and a solid understanding of the underlying concepts. We’ll explore how to bet on sports and maximize returns by focusing on positive expected value bets (+EV) and avoiding common pitfalls.
Portfolio EV is the easiest way to grow your bankroll and achieve long-term profits. Start accessing more +EV bets with a FREE TRIAL — head over to our Portfolio Betting page to get started!
How to Bet on Sports: Positive Expected Value Betting
One of the first things you need to learn about sports betting is understanding how lines are set and move. Market-maker sportsbooks originate betting lines based on sophisticated models and data. Other sportsbooks often mirror these lines with slight adjustments. Identifying discrepancies between market-making books and other operators can uncover +EV bets.
Tips for Spotting +EV Opportunities:
- Use Odds Comparison Tools: Portfolio EV aggregates odds across multiple sportsbooks, helping you identify market inefficiencies.
- Track Market Makers: Books like Pinnacle or Circa are known for sharp lines. Compare their odds with other sportsbooks to find value.
- Consider Context: Understand external factors like injuries, weather and public perception, which can lead to inefficient pricing.
Bankroll Management
Even the best bettors experience losing streaks. Proper bankroll management ensures you can withstand variance and stay in the game long enough to realize your edge. A common rule of thumb is to bet 1% to 2% of your bankroll per wager, adjusting as your bankroll grows or shrinks.
Mistakes to Avoid:
- Chasing Losses: Doubling down after a losing streak can quickly deplete your bankroll.
- Betting Without a Plan: Set clear rules for stake sizes and stick to them, regardless of short-term results.
Avoid Common Mistakes
The biggest advantage sportsbooks have is the bettor’s lack of discipline and understanding. Avoid these common errors to improve your chances:
Betting Without Line Shopping: Always compare odds across multiple sportsbooks. Even a small difference in odds can significantly impact your long-term profitability. We have you covered if you’re looking for the best sportsbooks for beginners.
Focusing on Favorites or Public Teams: Public perception often inflates the odds on popular teams, creating value on the other side.
Ignoring the Vig: The vig is the commission sportsbooks charge for taking bets. Lower-vig sportsbooks or reduced-juice markets offer better long-term value.
Overestimating Personal Knowledge: Trusting your gut over data-driven insights can lead to poor decisions. Use tools like Portfolio EV to base bets on solid evidence.
Get Portfolio EV for FREE! Follow these simple steps to get access to the best sports betting tools available:
- Choose a Partner: Pick one of our partner registration offers to get started.
- Deposit & Bet: Fund your account and place your first wager or pick’em entry.
- Capture Screenshots: Take screenshots of your welcome email and your first settled bet.
- Claim Your Picks: Email your screenshots to support@oddsshopper.com, and we’ll send you your free picks!
It’s that easy! Enjoy a free month of Portfolio EV!
Leverage Technology and Tools
Tools like Portfolio EV can automate the process of finding +EV bets. By continuously scanning odds across sportsbooks and calculating expected value, these tools save time and increase efficiency.
Key Features of Portfolio EV:
- Real-Time Odds Comparison: Instantly spot discrepancies across sportsbooks.
- Historical Data Analysis: Identify patterns and trends to refine your strategy through our EV results.
- Portfolio Tracking: Manage your bets and monitor performance over time.
- Betting in Bulk: We advise placing as many bets as possible. With our Mass Entry Tool, you can get a lot of bets down in a very short period of time across many different sportsbooks.
Stay Disciplined and Adaptable
Sports betting markets evolve, and your strategies should, too. Stay disciplined by sticking to +EV opportunities and avoiding impulsive bets. Use data to inform your decisions, and don’t hesitate to adjust your approach as you gain experience.
Sports betting can be profitable, but it’s not a get-rich-quick scheme. By focusing on +EV bets, practicing sound bankroll management and avoiding common sports betting mistakes, you can turn betting into a long-term, sustainable endeavor. Portfolio EV can help streamline your process, while insights from experts provide a strong foundation for understanding the market.
Bet smarter, not harder with Portfolio EV, and let the power of +EV guide your bets to success.
