Should You Bet On The 'Wagerwizard'? (2024)

FAQs

How do you know who is favored to win? ›

Odds are presented as a positive or negative number next to the team's name. A negative number means the team is favored to win, while a positive number indicates that they are the underdog. Ex: Dallas Cowboys, -135; Seattle Seahawks, +135.

We typically recommend that a sports investor bet 1%-3% of their bankroll on each bet. Conservative sports investors (or beginners) should bet 1%-2% on a play. Note that professional's betting unit sizes are normally in the 1% range.

Conservative sports bettors generally advise betting 1-2% of your bankroll per bet. In contrast, aggressive sports bettors often bet 3% of their bankroll on a single event.

Calculating Winnings

Odds of 7/5 mean you'll win $7 for every $5 you wager on the A's. Conversely, the Rangers' odds of 5/8 mean you need to wager $8 to win $5 on Texas. Another way to look at it: If the first number is larger than the second, you're betting on the underdog for a higher potential payout.

Simply put, the greater the odds against a team, the larger the payout will be for anyone who bets on it. For example, 7 to 2 odds mean that for every $2 you wager, you could win $7 if your bet is successful, while 5 to 1 odds mean you could win $5 for every $1 you bet.

Don't bet more than 1% of your household income before tax per month. For example, someone with a household income of $70,000 before tax should gamble no more than $58 per month. This table shows how much you can gamble each month to follow this guideline.

That rush you get when your team scores in the final seconds or your bet pays off big is simply addictive. It's no wonder so many people are drawn to sports betting. Unfortunately, though, a professional winning gambler percentage is only about 3%. The vast majority end up losing money in the long run.

Arbitrage betting, also known as scalping, is based on betting on both sides of a game at plus prices with different sportsbooks for guaranteed profit. The entire strategy is based on identifying the house edge by line shopping point spreads and then making your betting decisions by taking advantage of that research.

Martingale. The first and one of the most well-known sports betting and casino strategies on how to win is the martingale system. In its basic variant, each time you lose a bet, you should wager double on the next match. This way, whenever you win, you cover all your previous losses and gain money for the next bet.

Is there a smart way to bet? ›

Make bets based on the odds.

Betting with your head instead of your heart is all about making smart bets based on odds rather than emotions. Sometimes it's a good idea to bet on the numbers rather than who you think will win, because this can represent a better value if the odds are in your favor.

For beginners in online sports betting, the easiest type of bet to start with is often the "Match Outcome" or "Win/Draw/Win" bet. This type of bet simply involves predicting the outcome of a match: whether Team A will win, Team B will win, or if the match will end in a draw (for sports where draws are possible).

So, a bettor looking to win $100 will risk $180, while a bettor looking to win $50 would wager $90. Remember the amount you wager remains with the sportsbook if your side loses, while a winning bet returns your winnings and initial investment.

The percentage of sports bets that a bettor must win to make a profit varies, but generally a winning percentage of above 52.4% is necessary profit over the long term assuming one is betting against the spread.

With most bookmakers if you place a $5 each-way bet you are actually wagering $10: $5 on the selection to win and $5 for the selection to place.

For positive odds, the formula is: 100 / (Money line odds + 100). For negative odds, the formula is: Money line odds / (Money line odds + 100). If the moneyline odds are -200, the probability of the event occurring would be: 200 / (200 + 100) = 0.67 (or 67%).

Patience. People frequently need to be more quick to predict matches. It is wrong to rush your analysis before placing a bet since the chances of losing are high. Instead, try to be as patient as possible by searching for good odds and listening to your instincts while choosing the most suitable games to predict.

To identify a winning team by odds, look at the favorite and the underdog. The favorite has lower odds, indicating they're more likely to win. While the favorite is more likely to win, underdogs offer higher payouts. Remember, no bet is guaranteed, and odds reflect probabilities, not certainties.

The 49ers are 7.5-point favorites, while the over/under, or total number of points Vegas thinks will be scored, is 51.5 in the latest Lions vs. 49ers odds. Before you make any Lions vs. 49ers picks, you need to see the NFL predictions and betting advice from SportsLine's advanced computer simulation model.