How To Become a Successful Sports Handicapper, You Ask ?
Sports betting is one of the fastest growing industries in the United States right now, and the trajectory is only looking up.
If you are one of the millions who are interested in sports betting or are actively placing wagers, then you have probably had the common thought of, “How does one become a successful sports handicapper?’.
There are endless ways to become a successful handicapper, because there are endless ways to win money betting on sports.
While it may be difficult to many, it is possible to take advantage of the sportsbooks, but how?
For each person, the answer will be different.
The best way to ensure success as a bettor is to thoroughly understand the ins and outs of the betting industry, and then to devise and apply your own uniquely structured plan to take advantage of betting lines.
Sports betting industry standards
When attempting to be a successful sports bettor, one must define what the word “successful truly means to them.
For some bettors, it will mean just winning some extra pocket money on the weekends, while others will see sports betting as a legitimate career opportunity.
No matter how lofty your sports betting goals, you have to win bets to reach them, but how many?
The industry standard has been estimated that sports gamblers should be aiming for a success rate of 54%-58% when placing bets, with all bets having odds ranging from (-110) to (-120).
This number goes up and down depending on who you talk to.
This inconsistency stems from slight differences in betting lines from sportsbook to sportsbook, as well as arguments on whether or not more or less likely odds can be considered in this percentage.
Top tips and techniques
- Have a plan
The number one mistake that beginner bettors make when investing money into this industry is not having a plan to execute.
It is easy to get lost in all of the betting options available and to spread your bankroll too thin over a number of different events.
Many bettors find their account to be stagnant or even losing money without a set plan, as it is nearly impossible to win in the long term by just putting random amounts of money on certain lines.
Instead, bettors should strive to develop a consistent and reliable plan that is applicable to them.
One of the simplest ways to start adding structure to your betting game is applying the concept of units to your bankroll.
This concept is the process of applying a certain dollar value to a “unit”, and then using these units to better manage the amount of money you have at your disposal.
The use of units is a great way to easily track your betting history while also maintaining responsible bankroll management.
Using units is the first step in developing a betting plan, as it lays the foundation for a consistent “unit” currency that will be used with every bet.
Another huge factor that should go into what matchups you choose to bet on is both the sport and the type of bet.
Most novice bettors are putting their money on any sporting event out there, whether they are familiar with the teams, players, or statistics behind the game. This is a big no-no for those looking to profit from sports betting.
Instead of trying to take advantage of every line out there, a successful sports bettor will become a specialist in a certain area of the sports betting industry.
This can mean specializing in a certain type of bet, or sport, or both.
For some, parlays might be the way that they make their money, while others might have a tactic to take advantage of first half lines;
And while soccer might be one persons most profitable sport, college basketball could be yours.
It may take some time, but finding out which types of bets and which sport suits your knowledge and betting style is worth it.
One great example of an expert specialist in the sports betting world was Bob Voulgaris.
Voulgaris made a jaw dropping amount of money in the betting business, and he did it by specializing.
He found his edge in specializing in the strategy of NBA basketball coaches Eddie Jordan, Jerry Sloan and Byron Scott, and made millions with his methods.
While this is an exception in terms of amount of money won, it still proves the concept of specializing in sports betting.
Don’t fly too high or dip too low
Sports betting is a wild, up and down ride that will shake you up if you let it.
For those who are looking to become a full-time capper, one must understand that consistency in this industry is valuable for a reason.
It is not easy to be a consistent winner, and even those who make a living betting on sports will take a tough loss every now and then.
Losses are a part of the sports betting game.
As long as a sports bettor is recording and learning from his losses and mistakes, as well as keeping them to a minimum, losing bets will not hold you back.
Many bettors will lose a close call bet and react with lofty, unrealistic bets in order to make up for the loss.
In poker, this knee-jerk reaction is called going on “tilt”, and it applies to the action of making poor bets after a loss.
Whether they know it or not, the same term applies to sports bettors as well.
Going on tilt can throw even the best bettors off their game, and will usually result in poor decision making and the placing of money on games that would not have usually been placed.
It is essential to understand this phenomenon in order to avoid falling into the same trap.
To do this, simply take your losses on the chin and move on to your next play, no time to “make up” or “avenge” a lost bet.
On the other hand, winning bets can also throw off your roll.
Every now and then, sports bettors will go on a heater, winning any number of consecutive bets.
When these profits roll in, the good sports bettors will be able to manage them efficiently, while a less experienced bettor may try to make these profits double or triple.
Be wise with your bankroll, even if you are playing with house money.
Long term bankroll management is a skill that can’t be taught, but must be practiced.
Keep these tips in mind the next time you are trying to drain your bookie!