How often do you bet on your favorite team, knowing that they are going to lose? Gambling often comes in two different forms. These are the bets that follow the heart, like the aforementioned. Then there are ones that use the head. The latter are those made using prior knowledge, combined with a strategy, to help secure a win. Below, we discuss three must-know sportsbook betting strategies to help you gamble with your head.
Arbitrage Betting
None of these strategies will guarantee you a win, and you should always gamble responsibly. However, the right one can help you get the best from your bankroll and improve your odds. Arbitrage betting, also known as arb betting, is one technique many people choose to pursue. It is the technique of placing bets on opposing outcomes. Done correctly, no matter the outcome, you will receive a payout. However, to do this, you need to be able to spot price disparities between betting operators.
It is a technique often used in stocks and shares. Traders will buy a stock for a price on one exchange, then sell it for a higher price on another. The principle is not that different when gambling. In a fair market, implied probability would have two outcomes matching up to 100%. However, bookmakers build margins into their prices to change this. You need to be able to look out for bets where the implied probability is below 100%. While this sounds complex, there are calculators that can help you work out the arbitrage of a bet online.
Chasing Steam
Chasing steam is another tactic a lot of gamblers use. Essentially, it involves looking at the markets to see where prices are changing rapidly. This usually signifies that people in the know, and large professional gambling syndicates, are making bets on that outcome. The idea is that they have a better knowledge of what is likely to be the result.
Of course, this is not always the case. Chasing steam is a snowball effect. If someone makes a bet large enough to change the price, other chasers can jump on it, suddenly bringing down the odds. They are also not always right, and don’t spot outsiders. Who would have thought Leicester City would win the 2015-2016 Premier League? Definitely not steam chasers or pundits. However, if you can manage to see changes from one betting site and spot unchanged odds on another, then you can make the bet.
Favorites Betting
Favorites betting is one tactic followed by many bettors. It involves placing bets on the heavy favorite for an event or race. They are in this position for a reason, and when they become heavy favorites, it is often because of previous statistics and outcomes that make them almost a certainty. However, as there is no such thing as a certainty, you are often taking a large risk for a low yield. Odds for heavy favorites are low, and large amounts must be gambled to see any real return.
There are plenty of different strategies, and some may work better on different sports than others. Make sure you manage your bankroll, pick a sport you know well, and then consider trying some of the strategies out. You are not guaranteed to win, but these may improve your odds.
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