The Sports Betting Market There is a sports betting market. It is composed of the sportsbooks that sell bets to the sports bettors. The sports betting market works like a retail outlet. The sportsbooks post their betting lines to inform bettors what the price (or odds) of each bet will be. The bettors then decide if they like that price for that game, or if they do not. The bets that sports bettors should like are the ones that will be profitable. So, which ones are they? There are three main categories of profitable situations in the sports betting market. - Bets that are being offered with a positive expectation value (+EV) because they are priced at a value relative to the market. (i.e. the market is pricing the event at +160, but you are able to get the bet at +180).
- Bets that have a positive expectation value through the exploitation of promotional bonuses and freeplays.
- Bets that are being offered at a positive expectation because the market is mispriced. (i.e. the spread is listed as +6, but your assessment shows it should be +8, so you bet the -6 line).
The third situation is known as handicapping. It is by far the most difficult way to to beat the sports betting market for a profit. Ironically, it is also the method most novice sports bettors attempt to use. Beguiled by the apparently simplistic nature of sports betting and armed with a double dose of ESPN Sports Center daily, the beginning bettor attempts to prove his manhood by out-guessing the professional sports handicappers employed by the sportsbooks. It is why the sportsbooks remain profitable. This is not to infer that no one can be profitable handicapping sports, but if a sports bettor was truly concerned with making a profit, he would focus on the first two profitable situations listed above. Consistently placing bets at above their market value will be profitable over time. It is the simplest winning online sports betting strategy. Period. While shopping around for the best lines at a land-based sportsbook could be grueling and time-consuming, it could not be easier using online sportsbooks. You can have as many different sportsbooks opened on your computer as you want! There is simply no reason not to do it! Use Sportsbook Bonuses, Too! In addition to getting the best price for their bets, sports bettors should always take advantage of bonuses, promotions and contests that online sportsbooks offer. Similar to using coupons and rebates, you're just spending too much on your bets if you neglect to use them. |
