In this article, I’m going to go through some key strategy points you need to know to increase your chances of winning and help you to master sports betting. Understand value. Sports betting, broadly speaking, is the act of betting on the outcome of a sporting event. For most people, even those who choose not to participate in sports betting, the notion that one can bet on sports. Hot Sports Betting Stocks: DraftKings (DKNG) DraftKings is one of the most well-known names. Meanwhile, because professional sports bettors often sat waiting for betting lines to open, in hopes of spotting something of value to get first crack at, CRIS (also known as bookmaker.eu – use bonus code THEGEEK) began posting betting.

Many of us enjoy a bet on sports, but few fully research enough about what to do to win at sports betting in the long term. Casual sports gamblers will often bet on the team they follow, or bet on who they think is the better team, without considering several other important factors.

In this article, I’m going to go through some key strategy points you need to know to increase your chances of winning and help you to master sports betting.

1. Understand value

The number one mistake that losing sports bettors make is not properly considering the odds that are being offered. When deciding on their bets, they simply try to work out who will win, and then bet on that team regardless of the odds on offer.

Let’s use an example: Say Spain are playing Scotland in soccer. The vast majority of people will think ‘Oh, Spain are going to win this game easily so I’ll bet on them. Scotland have no hope’.

On the surface of things, that seems correct, but this shouldn’t necessarily be the way to look at things. Betting on the less likely winner could actually be a great idea. Let me explain how value betting works.

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What is a Value Bet?

A value bet is a kind of bet where the odds being offered are higher that the probability of an outcome happening.

Imagine you could get 10/1 on Scotland winning, would you consider it a good bet then? What about 20/1? Of course you would probably have a little bet on Scotland then, because the odds represent better value. Every match-up has odds that represent the real chance of the event outcome happening, and if you can get better odds than this, then you’re making a bet which will make you money in the long run.

In our example, you might expect Scotland to beat Spain maybe 1 time out of 10, meaning that if you get odds greater than 9/1, you should consider making the bet. To put this into context, here’s how these two teams in the example have fared head-to-head:

The concept of making the bet which represents good value (and not simply betting on who you think is going to win) is one of the most difficult concepts for amateur sports bettors to accept.

So now that you know that you need to find bets that represent value, how do you go about finding good value bets? The first step is to convert the odds on offer into implied probability.

Let’s look at some examples. If you’re being offered 2/1 (3.0 in decimal odds), simply put the bottom number over the sum of the top and bottom numbers and convert this to a percentage to get the implied probability. So, 1/3 = 33.3%. Taking another example, 7/4 would convert to 4/11 = 36.3%.

If you think the probability of the event outcome that you’re betting on exceeds that which is implied by the odds, then you have a good value bet and should consider putting some money on it.

Let’s say you think that there’s a 60% chance that the Giants will beat the Patriots, and the odds on offer are evens (1/1; implied probability 50%), then for every dollar you bet on the game, you can expect to make 20c profit on average.

Value bets exist because bookmakers can get it wrong, or perhaps they might adjust odds to make them more appealing. Either way, you can take advantage of them.

2. Do the research

Another critical aspect that you need to master if you want to win at sports betting is to come up with the probabilities that you need to compare with the odds the bookmakers are offering. The most effective way to do this is through dedicated research.

If basketball is your sport and you’re weighing up a game or deciding which team you think will cover the spread, you need to factor a number of points into your decisions. Things like whether each team on a winning/or losing streak; results of previous games between the teams; individual player match-ups; injuries etc.

You can go into a huge amount of statistical detail if you want to, and many professional sports bettors keep very detailed logs and analyse teams and players in minute detail in order to come up with their bets. The great thing about the internet age is that all of the stats are at your fingertips on sites like footballpredictions.net which provides detailed analysis on soccer matches and betting markets. In order to get up to speed it will pay to make the time to access available resources, then read and absorb the relevant information (stats and news).

3. Don’t spread yourself too thin

If you want to consistently win at sports betting, you’re also usually better off sticking to one or two sports maximum so you can study them in detail. This gives you a better chance to gain an edge over the bookmakers and make some money. The deeper, more specialised knowledge will work to your benefit.

It’s also important to keep the long-term profit goal in mind, as short-term losses courtesy of some freakish bad luck can be discouraging. The probability of success will be higher by keeping your knowledge sharp and up-to-date. So, better to stick to what you know unless you are particularly knowledgeable in several sports.

4. Take advantage of special offers

Many bookmakers have special offers, and often these are featured on major sporting events. For example, make sure that you are aware of things like current money back specials. These are far more common for UK and Europe serving bookmakers than for US books, but they represent another opportunity for you to pick out winning bets.

For example, Paddy Power who like to show their Irish patriotism might make an offer like ‘Money back on all Irish players if Rory McIlroy wins the US Masters’. The effect of these offers can often be the difference between a good bet and a bad one, so study them and hard and do the maths on them to see if they’re worthwhile!

5. Make fewer selections

Everyone loves it when a 6-fold accumulator comes off because the odds are always going to be very high. However, if you want to develop a consistent strategy for winning at sports betting, you will be more likely to do much better with single bets.

You stand a much higher chance of winning with singles and punters often overlook this fact. The fact is that bookmakers lose the most on single bets, so small really can be beautiful in the quest to make a profit. We recommend keeping any multiple selections to 3 or perhaps 4 at the most and all at reasonably low odds.

The chances of multiple results all coming in on the same bet are slimmer with each one added. That said, where the option for cashing out is available, it should be considered. That’s why it is critical to keep an eye on bets in progress.

6. Know the best sports betting odds

As mentioned previously, the vast majority of people don’t understand the concept of ‘value’ when it comes to sports betting and therefore don’t pay enough attention to getting the best odds. Naturally, bookies are competitive and often provide odds that are fairly close to each other, but some are more competitive than others overall. We’re continually monitoring betting sites for our reviews and here is the shortlist of the sportsbooks with the consistently best odds:

Sb Sports Betting

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7. Understand less common markets

It can sometimes happen with sports betting that you may think that you’ve won but then you check the bet results to find that it lost on some ‘technicality’. It clearly pays to know what the technicalities of each bet market are, as they might influence your decision in what to bet on.

Take soccer betting, for example. In knockout cup competitions where extra time may be invoked, some win markets are restricted to the win “in 90 minutes” but you need to make sure you know that beforehand. Many a punter has celebrated an extra time or penalties win only to discover that they have actually lost the bet.

Another one to watch out for is ‘half time/full time’ versus ‘to win both halves’. For the half time/full time bet on, a specified team must be winning at half time as well as full time. Obviously.

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In the ‘to win both halves’ market, a team needs to win the first half as well as the second half as if they are separate bets. The team can’t go 2-0 up in the first half and then go on to win 3-2. Or even if it stays at 2-0, the bet does not win. Just keep aware of these nuances to avoid disappointment.

8. Never bet on hope

We’ve all done it, but know that it’s wrong. The team that you support desperately needs a win and you decide to back them. It’s generally no way to beat the bookies, though. They thrive off bets like that! Going with your heart might feel like the dutiful thing to do but after too many disappointments, some get to the point where they will not even bet on their own teams. However, we feel that going to that extreme takes some of the fun away from sports betting.

Rather than not bet on your team at all, look for a more measured approach. Take a step back and assess the actual or more likely probabilities before taking the plunge with your cash. You might not be able to stomach betting on your team losing but perhaps there are other more obscure markets available that can give you some money even if they lose. That’s generally where the smarter money is.

These pointers are designed as a general guide to assist with increasing the chances of winning at sports betting. Of course, no system is completely reliable so proceed with caution. Good luck with your selections.

Don’t forget you can also follow our tips, which can do pretty well. You can find some of our most recent articles to help you gather info in your quest to win at sports betting in the list below, and if you want to get them as soon as they’re posted, follow us on Twitter.

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Monday was an historic day in American sport with the Supreme Court clearing the way for states to legalize sports gambling. For the past four years the NBA has been on the leading edge of the march toward this moment.

What does it all mean and how will this affect the game? Here's a simple FAQ to help explain where we stand and where we might be going.

More: State-by-state guide Can I gamble legally on sports now?

Q: How will NBA teams make money off the Supreme Court decision?

A: The majority of teams have casino sponsorships and/or owners with casino ties. The Phoenix Suns play in an arena with casino naming rights. Money has been flowing to teams for a while. But there are going to be new opportunities, notably through the jersey ads. Those were practically designed to promote casinos for in-game betting. Roughly two-thirds of the Premier League teams in England have major casino sponsorships, some of them right on the uniform. That could be a major profit center.

Q: How will the league make money?

A: The league is trying to get cash right from the betting window or a mobile app. The NBA is spending a significant amount of money to lobby state legislatures to get a 'royalty' on bets. Even getting a fraction of a percent of each bet, which is likely the best the league could dream of, could be worth billions over the next decade.

This is why commissioner Adam Silver keeps talking about wanting Congress to pass a gambling bill. It's much easier to lobby one body and guarantee a fee from every state than piecemeal it in places where the NBA doesn't have teams (and, thus, little leverage). There's no doubt that the NBA and other sports leagues care about protecting the integrity of their sports, but the push is primarily an all-out money grab.

Q: Will the players get a cut?

A: Absolutely. Sponsorships fall under basketball-related income (BRI), and the players get 50 percent of that money. Also, in the recent collective bargaining agreement (CBA), the union negotiated that income from gambling falls under BRI and will be shared with the players. This is the new vein of revenue for the league.

Q: What impact will that have on the salary cap? And when?

A: After a modest increase in the cap this season, the NBA is projecting the salary cap to inflate by $7 million in 2019. The league hasn't explained the reason, but some of that projection might include some anticipated new gambling-related revenue.

It will probably take a year or two for states to get operations fully up and running before possible ancillary money flows to the NBA.

Q: Will there be another cap spike, like there was when the Warriors landed Kevin Durant?

A: Unlikely. That might've been a once-in-a-generation moment. Aren't those Warriors smart/fortunate?

Q: What is the league doing to protect the integrity of the game?

A: The league already hires firms to monitor all legal betting across the globe. I've personally seen the operations at one of them -- Sportradar, in London -- and it's impressive. It has busted match-fixing in many sports. Of course, these firms can't monitor illegal betting, which is why moving this to a legal framework is better for everyone.

But the league is pushing for regulations in all states, such as banning certain prop bets that could be easy to manipulate. For example, who gets called for the first foul in a game is somewhat ripe for exploitation, so the league wouldn't want to allow bets like that. For other in-game wagers -- like, say, who will score the next basket -- the league has sought to keep relatively low limits on the size of those bets to fight the temptation for corruption. It's hard to try to buy off a player making millions if the most anyone can spend on a prop bet is $100.

Q: How will fans be able to place bets?

A: Here's how you know the NBA really wants gambling. In some of the states that are rushing to pass gambling laws, lawmakers want to make people go to their existing casinos or racetracks and physically bet at a window or kiosk. It's an effort to save or buttress these institutions. But the NBA has been actively lobbying states to offer betting on mobile phones and even for fans to be able to register a mobile gambling account without having to go to a sportsbook first (which is the case in Nevada). The league says it's to compete with the illegal sportsbooks that offer such action. But, of course, it would likely mean way more betting this way ... perhaps even within arenas during games.

Q: How will this change the way we watch games?

A: Remember those FanDuel and DraftKings ads? Get ready for a lot more like them. Also this is a question for the league's media partners, like ESPN. Many more fans might be watching with action on the games and not out of general interest. That might affect what sort of topics are covered before, during and after the game. We're all figuring it out.

Q: How will this change the way the league handles DNP-rest and injuries?

A: There's going to have to be vastly increased transparency, and teams will probably have to announce who is playing earlier. The NFL, which knows where the bread is buttered, has been doing this with injury reports and practice reports for years. The NBA has started the process, though teams still sometimes embellish injuries to cover for rest. Screws will get tightened. There's too much money involved.