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If you want to know how to make money sports betting, you’re probably already a sports fan.

I have bad news for you – most sports fans lose money sports betting.

That’s because they have biases and prejudices toward and against teams that wouldn’t exist if they weren’t fans.

Betting the moneyline for a game is possibly the most simple way to wager on sports. Bettors just choose a player or team to win. If the bettor chooses the winning side, the sportsbook will pay the amount due. It’s really that simple. When odds are released for a slate of games, these are known as the opening lines. After they’re out, the betting public has a chance to weigh in. Depending on how the action comes in, this can lead to a shift in lines. For example, if lots of money comes in on the favorite, odds on. Money line bets can seem a little confusing at first, especially for the bettor who has traditionally wagered their money on the point spread. The money line is actually the most straightforward bet you can have on any sport. Whilst the spread bet is on a team to win and by how many, the money line is a bet.

We would like to show you a description here but the site won’t allow us. A winning bet would give you a payout of $180 – your $100 comes back along with your winnings of $80. On the other hand, if you were to bet that same $100 on the Chiefs and they won, you’d get a payout of $250 – your original wager comes back along with your prize of $150.

In other words, it’s hard to make money sports betting unless you’re objective about the teams’ odds.

But if you’re a fan who can set aside these notions, you can probably win money sports betting.

This post introduces some ideas you need familiarize yourself with to pull off this feat:

You Must Understand Some Math to Make Money Sports Betting

To break even as a sports bettor, you need to win 52.4% of your bets.

Some people might be confused by that, thinking that if they win 50% of their bets, they should break even.

And anything above a 50% win ratio should result in profits, right?

Wrong.

While it’s true that most bets have a 50% probability of winning based on the point spread, the bookmakers make you wager $110 to win $100. (You’ll sometimes run into books which want you to risk $120 to win $100, and you’ll also find some that want you to risk $105 to win $100.)

If you’re losing half the time, but you’re losing more money than you’re winning the other half of the time, you’re going to lose money in the long run.

Imagine if you place 2 bets, winning one and losing the other.

You win $100 on the bet you won, but you lose $110 on the bet you lose, which leads to a net loss of $10.

And that’s just the beginning of the math you need to understand to make money sports betting.

More about Sports Betting Math

Let’s look at a more detailed example, just to give you a clearer idea of what I’m talking about when I say you need to understand the math behind sports betting.

You go to your favorite bookmaker’s website, or visit the book at your favorite online casino, and you see the following posted:

Buffalo Bills -3
New Orleans Saints +3

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The team with the – sign next to it is the favorite. To determine the winner of that bet, you subtract 3 from their score before comparing it with the other team’s score.

The team with the + sign next to it is the dog. You get to add 3 to the team’s final score for determining which team wins.

In either case, when it’s not listed, you’re expected to wager $110 to win $100.

Those point spreads are also called the lines.

The book creates the line so that they don’t get an overwhelming loss when the favorite beats the dog. If there weren’t a line, everyone would bet the favorite and win most of the time.

The point spread creates a situation where you (theoretically) have a 50% probability of winning.

The lines are set by the handicappers working for the bookmaker. And for the most part, they’re good at their job.

The lines aren’t always right, though, and when they’re wrong, you can profit.

How to Use Moving Lines to Track Sharp Action

A “sharp” is an educated, winning sports bettor. Sharps generally bet large enough amounts of money that bookmakers will adjust the point spreads (“lines”) to stimulate action on the other side. If you watch how the lines move, you can track the sharp action and make betting decisions based on what the sharps are doing.

One thing to look for is called “reverse line movement.” That’s just a fancy way of describing when the line moves away from the side with more money bet on it – the popular side.

That’s easy enough to do – find a line that moves from +7 to +6, for example, then look at how many people are betting that side of the match.

Now you know which side the book is trying to stimulate action for.

Combine this with shopping lines from one bookmaker to another, and you have a powerful tool for placing bets with a positive expectation.

Be a Contrarian

You can find plenty of websites that estimate what percentage of the action is on one side or the other of a sporting event. For example, you might find a football game where 70% of the public is betting on one side, and 30% of the public is betting on the other side.

If you bet with the 30% rather than with the 70%, you’re being a contrarian – you’re betting the other side of the event from what most people are.

I like to root on underdogs, but as it turns out, betting on an underdog to cover results in a higher percentage of bets won than betting on the favorite.

It won’t result in a high enough percentage to make you profitable in the long run, though – you’ll still need to pick and choose.

But betting underdogs is a great starting point for a winning sports betting strategy.

Manage Your Bankroll Appropriately

You might have heard the expression “on any given Sunday.” This refers to the possibility of an upset in pro football – on any given Sunday, any team can win, regardless of what people might think.

This means that no matter how confident you are in your bets you still might lose.

And, in the short run, you might lose a higher percentage of bets than you expect.

What does this mean in terms of managing your bankroll?

It means that you shouldn’t have too much of your bankroll in action on any given bet.

For example, suppose you’ve found a bet that you’re confident has a 65% probability of being a winning bet. That’s a stellar percentage; if you won 65% of your bets in the long run, you’d be breathing rarefied air. You’d be the Warren Buffett of sports betting, in fact.

But if you have a bankroll of $10,000 and wager all of it on that one match, you have a 35% probability of losing your entire bankroll.

This means starting over and building a new bankroll, which takes time.

And when it comes to winning at sports betting, time is money.

You’ll see varying estimates of how much of your bankroll you should risk on any single bet.

Your tolerance for risk should determine your bet sizing, but 1% to 5% of your bankroll is a good guideline to follow.

If your tolerance for risk is high, bet up to 5% of your bankroll on each bet. With that $10,000 bankroll, you’d limit the size of your bets to $500.

You can adjust those bet sizes based on your confidence level in your picks.

If you’re sure about a bet, you might wager $200 or $300 (2% or 3%) on it even if you’re risk averse.

Limiting the size of your bets prevents a series of upsets or a run of bad luck from running you out of the hobby.

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Don’t Buy Picks

Here’s the problem with buying sports picks:

The people selling these picks are usually no better at picking winners than you are.

Companies that sell sports betting picks are called tout services. They have an interesting history.

I have a friend who worked for a tout service in Las Vegas back when they still used call centers and 900 numbers to sell their picks. He explained to me one of their strategies with their customers, which I’ll share with you below:

In a room full of touts over the phone, half the room would sell picks on one side of a game.

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The other half would sell picks on the other side of the game.

This would result in half their customers winning each week, while half their customers would lose.

If any of the losers called to complain – and they often did – they’d give them a free pick on the Monday night football game.

And they’d follow the same strategy – give half the losers one side while giving the other half the other side.

Half their losers won their money back and became satisfied customers, buying more picks.

I also read a story in a book about gambling about a gentleman who started his own tout service via a 900 number, and he let his 5-year-old son make all his betting picks for him.

The kid got lucky and was right 60% of the time in his first season.

It was dumb luck, but if you’d used his service, you’d have showed a profit that season.

I saw a tout selling an entire season’s worth of picks for $3000.

What kind of winning percentage would you need to see to generate a positive ROI on that $3000?

That’s a sunk cost, so you’d need to win more than $3000 for that package to be a profitable deal.

You already need to win 52.4% of the time to break even, and you need to win 52.5% or more to be profitable.

If you make less than $3000 profit, you’re still losing money.

It’s hard to make money betting on sports when you have an upfront investment of $3000.

Conclusion

Yes, you can make money betting on sports. People do it every day.

But it takes a smart approach, preferably a contrarian one. You need to thoroughly understand the math and manage your bankroll appropriately.

Most importantly, you should avoid buying sports picks from experts who might not really even be experts.

There are many ways to bet sports. If you can think of anything to bet on, there's a good possibility you can find somewhere to pick on it. In this document on the different terms used in sports betting lines, including probabilities point spreads lines etc. One of the first aspects of sports betting every new player must learn what the different symbols mean. A plus or minus can mean different things and furious situation. They are used for both point spreads and money line bets, including the price of each jet. A point spread is the number of points projected that separate two teams. A game with a spread will have an underdog (team expected to lose) and a favorite (team expected to win). A favorite 'gives' points and is identified with the negative signs next to the point spreads. The underdog 'gets' points. The spreads happen this way in the gambling of games.

College Football, Baseball and Basketball Betting Odds

A money line bet is on a team to win the game outright (with no point spread) at an adjusted cost. The favorite will have negative odds, while the underdog will have positive odds. The difference here is in the prize or payout, depending on which topic. The terms 'over/under' are synonymous when placing wagers. This type of bet is on the sum of the points scored by both teams in a game. The bookie sets the number for the total then you predict whether they will score less or more points than the set number. For basketball and football, the primary display will show the total and points spread. For baseball and hockey, the money lines appear before it is displayed along with the total of the game, more so happens in hockey.

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Hockey Stanley Cup and Football Super Bowl Point Spreads

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Understanding NFL football betting odds & weekly point spread is important. If you plan on NFL football picks, this document will be of essence. It's imperative to use live NFL odds for every spread, total and money line for the games in a given week. If the number is positive, then you bet $100 to win that amount. If the number is negative, you have to wager that amount to win $100.Sometimes it will be necessary to use a conversion chart to translate the money lines to take advantage of the betting opportunities that spreads in a week.

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CFB and WNBA Playoff Picks, Nascar and PGA Golf Bets

NBA scoring pace calculator for over and under bets can feel complicated at times. When you bet an NBA total and want to know the current pace of play, you will need to use a calculator to estimate the NBA final score quickly. This tool is useful if you want to know how your basketball over-under bet is looking or if you want to take advantage of the bets opportunities spreads. The same applies to the super bowl and Stanley cup. Without 162 game season per team and 30 teams, MLB is the ultimate sports action for sports gaming. The best MLB betting sites include Betway and Spin palace sports. It is no secret that many people crush bet on MLB, as it has most of the experts.

Soccer Odds, British Open Championship and Premier League Betting Lines

Betting is also done in soccer. Many teams are even sponsored by bookmaking companies. Soccer is one of the most popular sports in the world. At the moment, this is true in the United States. Soccer picks are not overly difficult, even for beginners. You have to decide on which markets to put on focus. There are different markets to welcome, including major domestic leagues such as La Liga Serie A and Bundesliga e t c.

MMA UFC and College Basketball Week

The advantage of major domestic leagues is that they offer soccer picks advantages. These include:

• Attacking players are in good form
• You can set-piece specialist
• Defenders like to get forward at set-pieces