Month: December 2022

Bettors should learn to manage their funds not just on the amount of money they place for their favorite games but also for that extra fee a sportsbook charges for every bet.

Bookmakers charge a cut or amount to bettors for taking a bet to influence the odds in a certain game, leading to bookies taking a profit. That cut, which is known as the vig or Juice in sports betting circles, depends on the sportsbook a punter decides to enter.

Just like an employee or worker in any field or in any position, or an athlete in any sport, sports bettors get better through long years of experience. Punters may not have formal training, but they must have a keen eye on learning on the fly to keep up with this field.

BANKROLL MANAGEMENT IS DIFFERENT IN SPORTS BETTING

Bettors must be smart in managing their available funds before picking the sports events or games they want to place their money on. The current money a punter stores in his bankroll should grow in other ways aside from constantly adding funds through your salary or other side jobs.

The concept of bankroll management is a bettor’s ability to grow his bankroll in his sportsbook account through wise betting habits and smart timing on cashback and other promo offers.

An aggressive approach to betting can only be considered a small risk if a punter starts with a smaller bankroll, but he should only move his wager size around 2.5% of his total bankroll to manage his funds and sustain a stable betting journey.

REMOVE JUICE TO GAUGE TRUE ODDS

Seasoned bettors decide to remove the Juice on each bet on every implied probability so that they can see the true odds for each game. A bettor can get a better and more accurate scenario of what the sportsbook and a betting market think of each time by cutting the vig.

A bettor must learn how to calculate the implied probability (which includes the Juice) of all game results as a major first step in removing the Juice.

Punters should also understand the total implied probability, which includes overground, and he can use this value to find the Juice as a percentage or to remove it from the betting line.

UNDERSTANDING ACTUAL PROBABILITY

Actual probability in sports betting is defined as equal to the team/total implied probability. One must add up both of his actual probabilities to ensure the bettor gets things right. The total should amount to 100 or 1 as a percentage of the decimal.

For example, .71 + .29 – 1.00 or 100%

The actual probability must be calculated by removing the overround – which also removes the Juice – to bring total implied probabilities to 100%. Bettors must also learn to compare actual probability with their own handicapping efforts to know if a line has value.

Wise bettors are keen on removing implied probability to allow them to see the actual probabilities of every outcome. This figure will give the bettor more power to fully understand the actual interpretation of oddsmakers of an outcome or an event.

Sportsbooks thread a line whether refunds should be given to bettors who deserve it because they were short changed or there were quirks in their system that merits a rte turn of funds to their players.

But bettors should also be smart enough to know the limits of their rights if they, indeed, should get their money back if they got the raw end of the deal and have evidence to back them up or bookies neglect their responsibility to their users.

So how to draw a line if bettors can demand for a refund and if bookmakers set the standards as to how far they can get back to their aggrieved customers. It pays for bettors to be smart and be mindful of the rules of sportsbooks they intend to enter, and for the bookies to draw the line and spot abusive customers.

BETTORS SHOULD WELCOME ‘NO ACTION BETS’

“No action” in sports betting is described as the bets a player placed that gets refunded to their account. This can also mean that all bets on a particular liner were canceled by the bookie, resulting in no losses from any bettor.

A last-minute report of a marquee player skipping a crucial match can also force bookmakers to place the bet as no action, along with other weather-related conditions usually seen in outdoor sports like the NFL and MLB.

In tennis, weather factors in as well since most matches are played outdoors but this is not just the only reason for a no action bet. Long matches at a major tournament like Wimbledon and the French Open also disrupts tight schedules that should fit at daytime. In these instances, bookies tag it as no action if the match is suspended or if a player has to retire due to the wear and tear of a long match.

TRANSFER LOST BETS THROUGH CASHBACKS, PROMOS

It is typical for bettors to lose it all if they bet on a particular team or a prop bet before learning that their bets were not declared as the winner. But punters should have a keen eye on bookmakers’ policies where they don’t totally end up losing their bets.

The purpose of cashback or moneyback offers do not just pop up on your desktops, laptops or mobile phones just to annoy jaded bettors from placing their money on their favorite sports. Take time to read them carefully and, if possible, avail them to protect your bets just in case you lose.

There are terms and conditions sportsbooks always remind their users before asking them to use these offers or promos. Take note that not these offers or promos are not applicable to all sports or bets so be diligent enough to study them before making your next move.

REFUNDS DRAW PUBLICITY, LURE MORE PLAYERS

Operating a sportsbook is like running any other kind of business, and some of them are unmindful of losing money now before getting it back in the long-term.

Basically, bookmakers offer refunds on losing spread and money line bets to draw further attention from the rest of the sports betting industry. New bettors and seasoned punters get word of mouth from what that bookie offers then quickly transfer their money to them to place their bets in a flash.

There are also instances where a freak accident or event happens, which a bookmaker sees as an opportunity to be generous to its users and offer refunds or cashbacks. From young NBA star Zion Williamson losing his shoe after it exploded in his game against UNC in college to lots of bettors losing due to bad beats in marquee games like a heartbreaking buzzer-beater, bookies reward losing punters to give them hope and stay with their services with the chance to bounce back for future winning bets.

PLAYING SAFE WITH RISK-FREE BETS

Some bookies focus on a large chunk of newbie bettors they convinced to open an account for them by coming up with risk-free promotions to ensure that their young sports betting experiences goes off to a pleasant start.

There are some specific sports that bookmakers can adjust to offer these risk-free bets, which assures that a bettor receives money whether he wins or loses the bet. But new bettors should understand that these offers have set odds and limited deposit methods before taking advantage of them.

These risk-free bets are also offered by sportsbooks to lure more bettors to try out other sports that are new teams, meaning beyond the major leagues like the NFL, MLB, NB and European football leagues.

The half-point of a non-whole number spread in sports betting is called the hook. The hook can be added to a handicap, spread betting, and over/under markets, and its objective is to ensure that there’s a winner in each bet.

The concept of the hook existed to the benefit of sportsbooks, which doesn’t want to refund stakes as much as possible. Bookmakers would rather price a market that lures fair betting on both sides, so it profits from the event regardless of the result, and a refunded stake equals no profit.

With the presence of the hook, the over/under three goals market in soccer is replaced by over/under 2.5 goals, which now makes it impossible for the stake to be refunded.

HOOK POPULAR IN NBA, NFL GAMES

It is, in the US-spread betting where the hook originated, while UK bettors know it as handicap betting. Marquee matches between popular teams in the NFL and the NBA where a favorite is picked often have hooks in spread betting.

For example, sportsbooks will give a handicap to Golden State should the Warriors play the Los Angeles Lakers, as most bookies will find it difficult to attract interest with the Lakers since the Warriors are most likely to win due to their more consistent play and winning record. Sportsbooks will then give a head start to the Lakers.

With the Lakers given a 14-point head start based on the previous example, bettors can now take a risk on LA, while stakes are refunded if the Warriors win by 14 points exactly. The hook has since been introduced with this situation, making the new market look like this:

*Golden State Warriors (-14.5%) @1.95
*Los Angeles Lakers (+14.5)@1.95

MOVE THE LINE TO GET MONEY BACK

In bets involving NFL matches, bettors buy the hook to get their money back. A punter who wants to bet on the Miami Dolphins +3.5 against the New York Jets will move the line to +3 to get assurance that he gets his money back even if the Dolphins lose by three points (or by a field goal.).

Another example would be if a bettor placed his money on the New England Patriots -7.5, or seven and a hook, against the Buffalo Bills, he would buy the half-point and turn that into -7. If a punter takes the Patriots bet at -7.5 and they win by seven points, he’s out of luck.

Buying a hook can be an effective strategy in NFL matches, where spreads are near the common numbers like 3,7, 10, 13, or 14. A bettor buying the hook raises their chances of getting their money back despite the reduction of the payout.

BRACE FOR RISKS WHEN BUYING THE HOOK

High rollers are often going to buy the hook because they are capable of dealing with the risks of losing money, as they must be ready to pay a premium price to get a better line.

This strategy is not advisable to upcoming punters, who might not afford to waste some money in their bankroll if they lose by the hook. Risk-taking bettors must pick their spots wisely and shop around before making a commitment to buying the hook.

Creative bettors can also create accounts on three of the top five sportsbooks of their choice before finding the best numbers to place their money on. It may be a tedious process, but there’s less risk for conservative bettors compared to buying the hook on almost every game with fewer guarantees of winning.

Bettors who are into low-scoring sports like soccer and hockey should be patient enough when they place their money on spread betting as landing goals may come in few and far between.

This is the reason why the most common wager is punters betting on the moneyline compared to the spread. But punters who still place their money on betting the spread in hockey are called betting on the puck line.

For new bettors who are inclined to make a habit of placing their money in hockey matches in the NHL, they should be on the lookout beyond the stats and data about the top teams but also be mindful of the puck line. Check out the ways bettors can get the better of winning puck line bets and remain patient when the big payouts that can come their way.

PICK PUCK LINE, TOTAL OR MONEY LINE

A puck line is basically the spread betting option in hockey, where the favorite is marked witH A -1.5 goals puck line and +1.5 for the underdog in every match. A team (underdog) will have 1.5 goals added to one team’s total, while the other team (favorite) will have 1.5 goals taken away.

Punters who place their money on how many goals they think will be scored in a game are those who engage in “total” bets. If the line was set at 6.5 goals in a match featuring two high-scoring teams, bettors are urged to bet on the “Over.”

Bettors who are placing money on who they believe will win the game straight up are betting on the money line.

FINDING WAYS TO THRIVE ON PUCK LINE

Bettors should lay -1.5 goals at a more reasonable price point instead of laying -200 or -250 on a strong favorite, as laying larger prices with the top NHL teams often turn off most casual punters.

Punters can place their money on an underdog if they are getting a +1.5 goal head start instead of them betting on a +200 underdog which is likely to lose the match 60% of the time.

Far better odds are offered in the puck line along with a higher potential payout that gives value for bettors compared to the moneyline.

PERIOD, REVERSE, ALTERNATE PUCK LINES EXPLAINED

Period puck lines allow bettors to place their money on individual periods in a hockey match. A -0.5/+0.5 is displayed on a period puck line, with punters who bet on the favorite needing their teams to outscore their opponent in that period,

The favorite will get a +1.5 head start while an underdog gets the -1.5 role under the reverse puck lines. This lures bettors who look at an underdog that they think will win by 2+ goals at a very juicy price.

The point spread gets bumped from 1.5 to 2.5 goals under the alternate puck line. With this kind of bet, the favorite needs to win the match by three or more goals, while the underdog may lose the game by two goals but bettors can still cash a bet based on the alternate puck line.

STATS, GOALTENDING, TRAVEL SKEDS ARE VITAL METRICS

Any bettor who is determined to win puck line bets should be mindful of the coaching strategies of teams he is betting on, as well as goaltending and injury updates. These factors, along with key statistics such as quality of chance, possession, and shot totals can be used as vital metrics to determine the right puck lines.

A home team usually becomes the favorite to win a match over a visiting squad despite a better record by the latter. But bettors should also take note if the hosts are coming off a tight schedule where they played four games in five nights or if the road team is weary from a double-overtime match and will come off a long trip from the East Coast to the West Coast.

There are also teams that thrive in the spotlight despite having a bad record. If there’s a Monday Night Football in the NFL, there’s a “Hockey Night in Canada” where the Toronto Maple Leafs come to life and play like the defending champions to benefit Canada’s sports betting regulars back in the mid-2000s and the early 2010s.