What to know about odds when making bets

Learning about What to know about odds when making bets can help you when betting on football ... photo by CC user Rdikeman on wikipedia

Are you just starting out in sports betting, but are confused by what odds mean and how to make them work to your advantage?

There are a few things that you should keep in mind when getting into this hobby, and this article will fill you in on a few points that you should know before getting started.

Oddsmakers are in it to win

Companies that run sports books aren’t in the business to lose money; as such, you shouldn’t place bets solely on who is favored, as the odds are designed to make the bookies money in the long run.

However, odds makers are human beings just like anybody else, so there are ways to go about sports betting that can favour you over a significant sample.

Betting odds consider past performance, but struggle with situational issues

While William Hill betting odds are based on a statistical sample that usually predict future results with significant accuracy, game conditions that aren’t well publicized or sudden occurrences such as weather events aren’t as readily accounted by betting lines.

Use this fact to your advantage by integrating it into your betting decisions; for instance, if your favorite college football team is usually a slight dog to your opponent, but is playing their homecoming game against them, it might be a great time to place a profitable bet on a game that may lose you money on any other day of the week.

Another example is if the team in question does not play well in the rain; if black clouds are on the horizon, you may want to place an advantageous bet on the other team.

Get educated on the different ways you can bet

It is certainly possible to bet on the outcome of a single game, but that isn’t the only way you can make money at sports betting. Over/unders allow you to place a wager on whether a team can or cannot accumulate a certain amount of goals or points over the course of the match.

Other unique bets that you can take includes whether a goal will be scored in the first five minutes, the amount of penalties a team will incur over the run of a match, or whether a team wins a certain half.

Practice strict bankroll management

No matter how good the odds are for you, placing bets that are too big for the amount of money that you have can end up costing you the entire lot if you hit a streak of bad luck. Combat this by never betting more than 5% of your roll on any individual game.

This way, you’ll have a good sweat on the outcome of a match, but you will never be devastated by that 9th inning rally that takes you by surprise.