10 Things Nobody Is Telling You About Sports Gambling

Man With Hand to Ear and Sports Betting tab Open on Laptop

Betting on sports has never been more popular. As sports betting legalization spreads across the United States and the live betting options continue to improve, sports betting is set to boom on a scale that was a mere pipe dream 20 years ago.

Along with the meteoric rise of sports betting has come many fresh faces that may not be exactly sure about all of the dos and don’ts of sports gambling. The fact is that the lines can blur, and what’s perfectly acceptable under one set of circumstances may be utterly wrong under a similar case.

Today, I will attempt to clear the air on a couple of sports betting topics that seem to be the biggest victims of misinformation. Here are 10 things nobody is telling you about sports gambling.

1 – Successful Sports Betting Begins and Ends With Bankroll Management

The first thing a sports bettor or any other gambler should focus on is bankroll management. Without taking steps to build a proper bankroll, a sports bettor will never be able to enjoy any legitimate returns.

After the sports betting bankroll is established, the correct money management disciplines must be practiced to protect your nest egg. The best way for sports gamblers to do that is by sticking to a strict flat betting system.

That will prevent you from making the terrible mistake of chasing losses. The maximum bet for any wager should be between 1% to 3% of your bankroll.

That will obviously make for some minimal wagers starting out. But if you stick to your guns, the amount will grow slowly. If you desire to become a highly successful sports bettor, everything you do will begin and end with your bankroll.

2 – You Don’t Have to Fly to Vegas to Place Bets

I’m sure gamblers out there still assume you have to fly to Las Vegas to place your sports bets. I say this because I’m constantly asked about Las Vegas when I tell an acquaintance about my sports betting habits.

The plain truth is that many of us are able to place sports bets in our own backyards. Those of us who aren’t within driving distance of a casino sports book may have an even more convenient way to place bets using online casinos.

Two Laptops Showing Sports in Front of a Pile of Money

Online sports betting sites are sweeping the country, and while it’s not legalized in every state, it’s also not necessarily criminal in the states that haven’t legalized it yet. Look into online sports betting and decide if it’s an option for you.

You could possibly be at the start of something that totally revolutionizes your approach to sports betting.

3 – The Only Metric That Matters Is Value

Many casual gamblers or novice sports bettors believe that picking games are the number one attribute a sports gambler should possess. The fact is that picking games won’t really do you much good against the professional handicappers employed by the sportsbooks.

The critical factor for becoming a successful sports bettor is being able to find value. Value comes in the form of any wager that will give you a long-term positive expectation.

Many recreational punters will get too caught up on the line itself or how to shade the public because they hear of sharp bettors shopping lines and fading the public. Well, these are great attributes to have as a gambler. But unless you’re making bets that are a solid value, it’s utterly useless.

4 – $1,000,000+ Payouts Are Not Unique in the Sportsbook

You’ve all heard about the crazy wagers made by sports bettors like Mattress Mack. The Houston furniture magnate loves dropping $1,000,000 or more anytime his beloved Astros are in the World Series.

You may not understand precisely how much money is being tossed around in the sportsbook on any day of the week. In order to make a profit in sports betting, you’ve got to win over 52% of your bets.

Sports Book TV Screens

That makes the profitable bettors rare because the house edge or vig is always working against them. Then you’ve got to battle the handicappers that seem to have a knack for setting the perfect line.

For a sports bettor to overcome all of that and make a little money, the bets need to be massive, and a seven-figure payout is not uncommon in the sportsbook. There’s a lot of money out there, and people love to gamble.

5 – You Can’t Buy a Reliable Betting System

One of the traps that catch many newbie punters is the betting systems for sale online. These “can’t miss” techniques promise to make sports bettors a ton of cash if they fork over enough money upfront.

As many of you can imagine, there’s nothing to these systems that guarantee winners. The only winners are the businesses selling bogus betting systems to the suckers.

You can’t take any shortcuts to success in life or in gambling. The only way to get to the top and stay there is by outworking everyone.

So, if you want to beat the sportsbooks, you’ll need to outwork them. And using simple sports betting strategies might just do the trick.

6 – Pausing the Action Could Give You Space to Enjoy Better Results

It’s okay to hit the pause button and give yourself a break. Most sports bettors believe that they must continue pressing forward when they first get into the game.

While I believe it’s crucial to establish a routine, you shouldn’t be in any rush to immediately be viewed as an expert or hardcore sports bettor.

People Sitting at Casino Sportsbook, Three Dollar Bills Spread Out

Diving in headfirst can actually have some reasonably painful growing pains. Give yourself a moment to breathe and reevaluate what you’re doing related to sports betting and how you’re doing it.

The sportsbooks aren’t in any particular rush, and you shouldn’t be either. Letting the game come to you will make you a much more well-rounded gambler.

7 – Tout Services Will Bleed You Dry

I will give a ton of leeway to nearly anyone trying to make an honest buck. Tout services won’t get one ounce of my respect or my money.

These “services” allow gamblers to buy picks from the handicappers at the tout service. This theoretically saves the bettors the time of handicapping the games themselves or, more prevalently, helps bettors that are having trouble making solid picks.

Essentially, tout services, also commonly called sports betting prediction sites, prey on down and out punters that are looking for any break to turn their fortunes. These tout services claim ridiculous success rates and offer guaranteed picks that make the hopeless gamblers begin to believe again.

Even under the best circumstances, the tout service is going to cost you because they’ll never make you a profitable sports bettor. So, all of the money you spend on picks is only tossing you deeper into the hole.

8 – The Vig Is for the Casino to Make Profit

I briefly mentioned the vig earlier. And what is the vig you ask? The vig is the portion of losing bets that the sportsbooks keep as profit.

So, you bet $110 to win $100, all of the bettors that lose pay the sportsbook $10, and the other $100 pays the winners. Most people believe that sportsbooks need more people to lose than a win to make any money.

Sportsbook Booths and TVs

In reality, the sportsbooks are merely hoping that they can attract equal action on both sides of a wager. When equal action is had on both sides of a bet, the casino can’t lose.

The vig ensures that the casino makes a profit while making it much more challenging for sports bettors. You’ll have to win 52.4% just to make a profit due to the effects of the vig.

9 –Complicated Parlays Will Kill Your Bankroll

Parlay bets lure gamblers in with the promise of massive payouts but rarely offer anything in absolute value. The problem with parlays is that the sportsbooks make them appealing enough that punters believe they can hit on all of the contests and profit.

However, the parlays are rarely hit for a reason. If you look at the parlays objectively, you’ll soon see how the value doesn’t exist on these bets.

That’s why parlays are known as bankroll killers. The cycle of coming only one pick away from a massive payday makes it tough on players to quit when they’re so close.

Avoid parlays, and you’re going to have fewer unnecessary losses to overcome to get yourself back in the black.

10 – It’s Incredibly Rare to Become a Legitimate Winner

Most bettors have no idea how rare it is to become a legitimate winner. By “legitimate winner,” I mean a gambler that is making a sustainable profit year after year.

These are the top tier of sports bettors dealing in the millions of dollars in action every week. It’s remarkable when you stop to appreciate what the greats like Anthony Bloom and Billy Walters have done.

Odds Board and Money

These sharp bettors have developed a system that’s allowed them to build empires in the gambling industry and even own professional sports teams. Learn how to make smarter sports bets, develop your own profitable plan, and you could make hundreds of millions in the sportsbook.

Then, your biggest obstacle becomes finding enough books to take all of your action. If you’ve ever tried counting cards, you know the casinos can’t stand it when they’re beaten. They’ll take painstaking measures to dodge your activity, so you’ll need to get creative.

Of course, that’ll be a significant problem to have.

Our Thoughts on These Sports Gambling Tips

These 10 things nobody is telling you about sports gambling can make the difference between success and failure. They are not a surefire recipe for untold riches from sports betting.

If it were that simple, I wouldn’t be writing sports gambling blogs; I’d be swimming in my pool of cash a la Scrooge McDuck. Still, you’ll have a much better shot at success by following the tenets above.