NFL Betting - How do you like to bet?
Nov 3rd, 2009 by admin
It’s a simple question with a complicated answer: How do you like to bet on NFL football? There are so many different types of wagers, betting “systems”, and patterns that the combinations of bets are almost infinite. The trick is to know which bets are going to be winners, and which ones are not worth your time.
First differentiate yourself from other bettors: are you just a recreational square bettor, or are you a professional sports bettor? Reminder: just because you bet a lot of money on sports, that doesn’t necessarily make you a professional. “Sharp” players, “punters”, or “wiseguys” make money by spotting bad lines and exploiting them, opposed to recreational bettors who may get lucky once in a while. The difference is in style, not in amounts of money wagered.
Bet-on-the-NFL.com makes money by offering you, the customer, places to bet. A commission is earned if the house makes money. If not, a percentage of player winnings is deducted from our earnings. We monitor our performance much like a traditional sportsbook “agent” by checking in with sports betting website every few days to see how our players are doing. Additionally, we can also monitor what types of bets are being placed: we simply dig into the stats for our players and see what is popular.
Here are three NFL Betting trends we’ve noticed:
- Many Parlays, Little Money Bettor - Parlays are generally a great opportunity for the sportsbook to make money, since the chances of correctly predicting the result of 2-15 different games correctly increases exponentially against the player. In order to make things more fair, some players like to place the minimum wager amount on a 4 team parlay. Then, they proceed to place the same amount of money on the same 4 teams, but make picks in different combinations in order to diversify their overall wagering risk. As a result, if just one of those parlays hits, they make a nice amount of money, costing them the total of all the losing parlay wagers they made. This is a better way to go if you like parlays, unlike putting it all on the line with one big parlay bet. It’s sort of like mitigating risk in your stock portfolio by mixing up your holdings across many investments.
- One Bet, Big Time - Some bettors like the idea of “all in equals big win”. Instead of placing tiny bets here and there, they’ll deposit a large sum of money (in excess of $500) and lay it all on the line with one straight up bet. As the saying goes, you have to spend money to make money. At first glance, this style of wagering may seem very risky, but in reality, it too can be profitable IF you pick the right game to bet on. For example, if you bet $1000 on the heavy favorite, chances are, you’re going to win your wager (although the house will not pay you 1:1 - usually $1000 minus the odds and juice). For people that like simple, exciting sports bets, One Bet = Big Time Money can be the path to riches.
- The Crafty Pro Sports Bettor - Now these guys are a totally different breed. They tend to be highly analytical, mathematical bettors that are good at spotting inconsistencies in sportsbook lines and odds. Instead of betting on a team because the team is going to win, they bet on a team because they know the bet itself is in their favor. In other words, the way the lines are set figures highly into their wagering style, opposed to just picking a heavy favorite or mixing up lots of parlay bets. Professional sports bettors are often identified by risk managers at sportsbooks after they’ve won a few big bets are are cleaning out the house. Once the linesman knows which player is winning big and doing so consistently, the player will usually be offered different lines than the average recreational bettor. This may seem discriminatory or unethical, but in reality, it’s the only way the sportsbook can stay in business. If professional bettors constantly collect big winnings, the sportsbook will have to close unless it is highly financed.
So, which type of bettor are you? One, none, or maybe even all of the above? Either way, it pays to make intelligent wagers at sportsbooks, whether or not they’re large or small. In the end, the most important factor is the result: did you win, or did you lose? After all, the wisest sports bettor who loses every bet is really no better than the recreational square bettor who loses every bet. True, luck is a factor, but if you play your cards right, you too can bring the house down. A final thought: pace out your bankroll for the entire NFL betting season carefully. Don’t get caught with your pants down by Week 5 in desperate need of a reload deposit.
Good Luck NFL Betting from Bet-on-the-NFL.com!