You Must Understand Some Math to Make Money Sports Betting

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April 2, 8 Min. I have bad news for you — most sports fans lose money sports betting.

how do you make money on bets

This post introduces some ideas you need familiarize yourself with to pull off this feat: You Must Understand Some Math to Make Money Sports Betting To break even as a sports bettor, you need to win To win money as a sports bettor, you need to win MORE than Imagine if you place 2 bets, winning one and losing the other. Those point spreads are also called the lines. The lines are set by the handicappers working for the bookmaker. If you watch how the lines move, you can track the sharp action and make betting decisions based on what the sharps are doing.

How to make money from sports betting

Now you know which side the book is trying to stimulate action for. Combine this with shopping lines from one bookmaker to another, and you have a powerful tool for placing bets with a positive expectation.

how do you make money on bets

Be a Contrarian You can find plenty of websites that estimate what percentage of the action is on one side or the other of a sporting event. The good news is that being a contrarian usually means betting the underdog.

how do you make money on bets

People generally prefer to bet on favorites than underdogs. I like to root on underdogs, but as it turns out, betting on an underdog to cover results in a higher percentage of bets won than betting on the favorite.

But betting underdogs is a great starting point for a winning sports betting strategy.

  • How to Make Money Betting on Sports | BettingPros
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This means that no matter how confident you are in your bets you still might lose. And, in the short run, you might lose a higher percentage of bets than you expect.

Bankroll Management

What does this mean in terms of managing your bankroll? This means starting over and building a new bankroll, which takes time. And when it comes to winning at sports betting, time is money.

how do you make money on bets

You can adjust those bet sizes based on your confidence level in your picks. Limiting the size of your bets prevents a series of upsets or a run of bad luck from running you out of the hobby.

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Companies that sell sports betting picks are called tout services. They have an interesting history. I have a friend who worked for a tout normal distribution options in Las Vegas back when they still used call centers and numbers to sell their picks.

The other half would sell picks on the other side of the game. This would result in half their customers winning each week, while half their how do you make money on bets would lose.

How to Make Money Betting on Sports

Half their losers won their money back and became satisfied customers, buying more picks. I also read a story in a book about gambling about a gentleman who started his own tout service via a number, and he let his 5-year-old son make all his betting picks for him.

You already need to win Conclusion Yes, you can make money betting on sports. People do it every day.

how do you make money on bets

But it takes a smart approach, preferably a contrarian one. You need to thoroughly understand the math and manage your bankroll appropriately.

how do you make money on bets

Most importantly, you should avoid buying sports picks from experts who might not really even be experts.