Sports Betting Tips for Beginners

Millions of people have been introduced to the entertaining world of gambling thanks to the growth of legal sports betting. With this influx, new players started learning how difficult it is to defeat the house. However, it is possible to give yourself a higher chance of winning the house. At Vulkan-Bet, you can boost your winnings by following helpful tips.

Although there is an element of luck in sports betting, long-term success requires a lot of skill and planning. To help you consistently win money on your bets, we'll break down the top sports betting tips to help you achieve your goals.

Learn Your Break-Even Percentage

The break-even percentage is the proportion of times a bet must win for you to maintain an even financial standing over the long term. For instance, you will have a break-even point of 50% if you accept an even money wager that a coin flip would result in a head. It is 50% not because those are the odds of winning but rather because that's how frequently you must triumph to break even on an even money wager.

In sports betting, the underdogs are the + sign, while the favourites are the – sign on odds. Applying this to your bets would mean that for every $100 you wager, you will win $350 if the odds are +350. Similarly, if it's -110, you must wager $110 to win $100.

It is important that you figure out the break-even percent of each odd before placing bets. For odds with a + sign, you add 100 to the listed number and divide the result by 100. This means that the break-even percentage of a +120 odd will be 100 ÷ (100 + 120) which is 45.5%.

You must know how to translate odds into break-even percentages. When you convert everything to break-even percentages, you have the best view of where to place your bets.

Shop Around for The Best Price

Do you tend to make spontaneous purchases when shopping, picking the priciest yet most practical things? Or do you take your time, compare prices, and do a little bit of research to find the greatest deal? This is what it means to shop for the best pricing. Both of these consumer types are prevalent in the sports betting market.

In the long term, bettors who do their homework to locate the best lines are frequently more successful and risk less money. Many bettors view this procedure, often known as line shopping, as an insignificant process, which is not so. One of the smartest things you can do to improve your sports betting skills is line shopping, where you seek out the lowest vig, such as -105, as opposed to -110.

The odds offered for moneyline bets at sportsbooks differ significantly. Even though some of these odds do not vary much on some sportsbooks, looking around for the best deal over time could end up saving you a ton of money.

Know the Value of a Half-point

You need to know how much a half-point is worth. To begin with, the half-point, when examining the point spread line for any lined game, is often what makes bets a win or a loss. A 3-point spread and a 3.5-point spread are different from one another. When someone refers to having "lost by the hook" or "lost by a half point," they are describing an instance in which their team failed to make the necessary adjustments.

Consider, for example, that you choose to wager on Minnesota, who are three-point favourites in their matchup with the New England Patriots. If Minnesota won by a score of 20-17, the wager would be considered a push, and both parties would receive their money back. The sportsbook gains nothing from this.

However, when the spread is listed at -3.5, it implies that if you bet on Minnesota and they win 20-17, you will lose your wager by half a point. You would win your wager by the same half-point if you backed the Patriots.

 Avoid Single-game Parlays

The parlay bet is both tremendously alluring and a risky bet at the same time. For those unfamiliar with the term, a parlay is a combination bet that combines two or more separate bets. The entire parlay is lost if even one of the bets is unsuccessful. However, bettors occasionally have the opportunity to have multiple teams for enormous one-time prizes.

Sportsbooks readily provide lucrative parlays across different sporting events. Bettors can string together a dozen wagers in hopes of hitting big. Parlays give casual gamblers a way to convert small bets into actual cash. But why are sportsbooks so eager to divulge this information even after losing six-figure losses?

It's because, compared to straight wagers, parlays often give the casino a wide advantage. The sportsbook's advantage keeps increasing as more wagers get added to the parlay. However, playing the parleys is a bad idea when playing sports bets.

Parting Word

Sports betting comes with a lot of thrill and excitement when you know your way around it. This is why we compiled vital tips for you to pay attention to. With the ones listed above, you are well on your way to bagging more wins and hitting fewer losses.