You need to find the best betting value to be successful. Did you know that you need to win 52.4% of your bets just to break even? And that’s at -110. Imagine if you could get better odds regularly.
It pays to use a few different sportsbooks to compare betting lines. Taking the time to do some line shopping could be the difference.
MLB BETTORS > MLB BETTING STRATEGIES THAT PRODUCE WINS
The Best Betting Value – Shop Around
If you are the type of consumer that is always looking for the best value in what you buy. You probably shop around quite a bit. The same thing could be said if you are an avid sports bettor looking for the best value in everything you actually wager on.
Today’s online sportsbooks basically provide the same basic service. Through an online betting platform or mobile betting interface, they will book your sports bets covering a wide variety of betting options.
Through an online betting account, you can deposit funds to maintain or build your bankroll. When things are going your way, you can request withdrawals from that same account. Offshore sportsbooks operating online add the option to also bet on live horse racing and online Las Vegas-style casino games through that same online account.
In a recent article, we outlined how to start an online casino. Go check it out. You’ll be happy you did.
Sharp, Early Betting Lines – Juice / Vig
One area where all online sportsbooks are not created equal is in their posted betting lines. There are similarities in the actual betting odds across the board. Yet, subtle differences in the actual numbers can add up to a substantial amount of money based on your yearly betting volume.
Charging a 10% commission or juice on a losing bet is an industry standard. That is why you will see -110 listed next to a betting spread and total line. This means you have to wager 10% more money than the amount you will win. This is called the juice. or sometimes called the vig.
Best Betting Value = Winning More Bets
For example, to win $100 on the Kansas City Chiefs -7 points you would have to bet $110. If you are correct, you receive the original $110 back plus the $100 in winnings. If you lose, you are out $110.
Suppose you found an online book offering the Chiefs -7 at -105. America’s Bookie are known for having great odds!
This would cut your juice in half while also reducing your risk by 50% as well. The original bet costs $105 to win $100. If you could find a way to save 50% juice on every sports bet you lost, this could add up to quite a bit of money left in your running betting bankroll.
Learn to Read & Understand Betting Boards
The key to shopping for the best betting value in online sportsbook odds is by familiarizing yourself with as many online betting boards as possible. This does not mean that you have to open five or six different online betting accounts. Although some avid sports bettors do go that route.
Just by reading and understanding a book’s betting board, you will begin to get a better feel for finding the best value.
Some online sportsbooks use the juice paid on a bet as a way to move money from one side to the other. For example, you might find the following listing for the total line in a MLB game:
Philadelphia Phillies: Over 8 ½ (-105)
New York Mets: Under 8 ½ (-115)
In this scenario, the book is trying to move money towards the OVER in this game with most bettors taking the UNDER. Sometimes that gap in juice is really wide depending on where the early money was bet.
You should still handicap the game the same way you would for any other matchup. However, if you do have a high level of confidence in the side with the lower juice, why not bet that way as well.
It’s imperative that you find the best betting value in EVERY wager you make.
