Lets Start With The Basics
Mistakes and momentary lapses of judgement happen to the best of us, but learning from them is what makes you stronger. Here are some of the common mistakes to avoid starting with the first steps of betting. You are just starting out in the betting world and think one sportsbook will be enough to satisfy the urge to throw some money on your favorite team.
However, if you are doing more than "just throwing money on your favorite team", not line shopping will cost you more of your bankroll than you know. This one should be pretty self explanatory if you have the slightest clue about sports betting.
You should never place a bet on a team or individual without handicapping the game to some degree. Most of the time, the mistake that's made is placing a blind wager on your favorite team or siding with the higher-profile team. In sports betting, having a bias about a certain team is not a great way to make money. Only one NFL team has ever gone undefeated, while only two teams have lost every game. This means that even the best teams lose and the garbage teams win a few games per year.
Bankroll management is one of the most important sports betting commandments, yet bettors often forget about it because they are reckless and lack discipline. The key trigger to bankroll mismanagement usually happens when you lose a bet and it's an extremely bad beat meaningless touchdown or three-pointer for a back-door cover. Once that happens, the bettor will be on tilt and be pissed off and eager to make that money back. They will then "chase" their losses and often risk double in order to turn a profit.
A parlay is any bet that involves more than one event. They could all be in the same game or be spread over multiple games. You can do that in a parlay, effectively betting on both events with a single stake. If you win all parts of your parlay, the payout will be much bigger than if you bet on just one event.
Each bet within the parlay must be a winner. But not so fast: Your chances of winning all three are just It only means that you should recognize the degree of difficulty before putting your money down. Parlays can include various combinations of moneyline, point spread, or totals bets from either one game or multiple games.
However, few sportsbooks will allow you to make a parlay bet on both the moneyline and the spread of the same game. Sportsbooks do this to mitigate risk.
Some sports betting sites allow a limitless number events for parlays, while others place a cap at a predetermined maximum ceiling. A teaser is a type of parlay, and both of these bets operate in a similar fashion. Here, all bets are on the total or against the spread, and the prospective bettor sacrifices their payout for more advantageous spreads. In the first game, you might look at the line and be drawn to the Knicks laying 5. For the second game, you might not trust Portland to dust off Phoenix by a whole 7 points, but are still confident that Damian Lillard will lead the Blazers to victory.
This is where the work of a teaser comes in: You can manipulate the odds in your favor at the cost of a reduced payout compared to what you would get on a standard parlay bet. Most sports betting sites offer basketball teasers at 4, 4. These give you the option of manipulating the betting line by 8 or 10 points.
The same teaser option applies to betting on totals. For example, if you were to bet on the over of the Brooklyn vs. New York game, you could reduce the total down to Should you choose to bet on the under, you could push the total up to No matter how enticing teasers may seem, remember that you need to predict all events correctly to win the bet. Some sportsbooks will remove an event from the teaser if the final result is a push, while others will count it as a loss.
A place wager means wagering on a designated horse to finish second or better while a show wager is betting on a horse to finish third or better.
For example, if you like the No. Exotic Horse Betting Betting on a mount to win, place or show is the most traditional way of wagering on the ponies.
The biggest profits, however, come with exotic betting. Exotic wagering means wagering on combinations to occur in any particular race or in multiple races. The most traditional exotic wagers are the daily double, exacta, the trifecta and the superfecta. Most tracks still offer the traditional daily double and the late double. The traditional double requires horse racing gamblers to pick the winners of Race 1 and Race 2. The late daily double features bettors selecting the winners of the final two races of the day.
The daily double is similar to betting a two-team parlay in football. If both horses win, you win the wager. The daily double is also known as a vertical horse racing wager.