From Moneylines to Spreads, Learn Smart Strategies and Bankroll Management to Improve Your Betting Experience
Betting For Dummies
There are many ways to make sports bet picks, and it can be a lot to take in for a first-time bettor. When using real money to wager on sports, it’s best to be informed before placing hard-earned cash on sports outcomes. Becoming an informed bettor before placing your first bet is the smartest way to approach sports betting, and it is not something to overlook.
I’ve heard horror stories from friends and online of bettors who thought they were betting on one thing or a certain amount, just to find out they did not make the bet or place the amount they originally thought. Having a sports betting strategy before wagering real money on sports is heavily important. Let’s go over the basics and bring an understanding of sports betting 101.
Why Is It Hard to Win Bets?
Before we get started, let’s clear something up. Sports betting is not a get-rich-quick scheme, no matter what parlay you saw on X or Instagram. If you treat sports betting like a get-rich-quick scheme, it will instantly humble you.
Approximately 3% of sports bettors are profitable. Many bettors overplay parlays, tilt after losses (bet more than they should to chase losing plays), and don’t stick to strict bankroll management. It can be easy to get out of hand when you think you have a “lock” (a play that is basically “guaranteed” to hit), but sticking to unit sizes is the best sports betting strategy.
Sports betting is not built to be easy. Sportsbooks have a fee built into each pick, called “vig”, which is the cut the sportsbooks make for each bet. This vig makes it so a bettor would have to hit approximately 52.4% of bets on -110 spreads to be profitable. While it sounds easy to hit 52% of your bets, it’s harder than it sounds.
This doesn’t mean you shouldn’t bet on sports, as it can be a fun way to experience sports and can even make you some money when done right and responsibly. However, having an understanding of expectations and strategies to stick to when betting is more important than anything before you start betting on sports games.
Sports Betting 101
The first step to understanding how to place a bet is to understand the terminology and type of bets available. Let’s start with the moneyline, the most commonly placed bet.
A moneyline bet is simply a bet on which team will win the game. Favorites (the team expected to win) will have a minus sign by their name, while underdogs (the team expected to lose) will have a plus sign by their name. With American odds being centered around a $100 bet, it’s easy to get the hang of money lines. If the favorite is -150, you have to bet $150 to win $100, which will return a total of $250 (which includes your original $100 you bet). If the underdog is +120, a $100 bet would win $120, returning a total of $220. You can work off this fraction for any amount. A $15 bet on a -150 favorite would win $10 and return $25.
A spread is the next most common type of sports bet. Unlike a moneyline, a spread is a bet on a team’s handicap against another team. A spread is a way of betting to cut down the juice on a moneyline for a favorite or back an underdog without having to have them win the game outright. For example, if the Eagles are favored to beat the Texans in the NFL, the Eagles may be a 4.5-point favorite, meaning they have to win the game by five or more points to cover the spread. On the contrary, if you take the Texans +4.5, they can lose the game by four or fewer points, or win outright, and your bet wins. Typically, spreads will have lines much closer to even odds (+100), with most spreads listed at -110.
The last most common bet is a total. A bet on the total is a bet on how many points the game will have. If a football total is set at 47.5 and you take the over, the combined final score of the game must add up to 48 points or more to win. Similarly, a bet on the under would need a final combined score of 47 or fewer to win.
Another popular form of betting is player props. Props focus on players’ solo performance specifically. You can bet on a wide array of stats, such as passing yards in the NFL or three-pointers in the NBA. Markets on player props have widened immensely over recent years, making it possible to bet on basically any stat line that is tracked by a player in a game.
How to Bet and Win Easily?
The easiest way to win when sports betting is to remain responsible with your betting and do your research. Don’t bet on your favorite team just because you want them to win. Research lots of games and make an informed decision.
Managing your bankroll is also an important step to being profitable. The most common way to refer to this is “unit size”. One “unit” is typically 1% of your bankroll. If you have $1,000 to bet with, a commonly used unit size would be $10, meaning you would bet $10 per sports wager. While that may seem small, it is important to not bet large amounts of your bankroll at a time, as this can make you tilt faster or try and chase losses faster.
Don’t aim to get rich overnight. Take it slow, and the profits will start to pile up if you do proper research and make smart decisions while maintaining proper bankroll management (sticking to your unit sizes).
