When people hear the term “sports betting,” they may think of the wildly popular new legalized sportsbooks that have popped up all over the country. However, there’s a whole other side of the sports betting world that most people aren’t even aware of: professional bettors. It’s not just a hobby for them; it’s a full time job that brings in the kind of money most people dream of making with their day jobs.
These professionals do their homework in order to identify undervalued teams and players. They also know how to make the most out of their betting lines by placing bets at the right times. And they do it all while managing their bankrolls, ensuring that they’re not putting too much of their own capital at risk.
This level of knowledge is not something that can be learned overnight. It takes months, if not years, to turn from a sports novice into a well-versed bettor. Those who do, however, have the potential to be successful long-term. The key to success is finding a balance between the amount of research one does and the size of their bankroll. Those who start with too large of a bankroll, and end up losing money quickly, are usually out of the game entirely.
Another crucial factor to consider is the type of bet you’re making. In addition to traditional straight bets, a bettor can choose to place a teaser or total bet. A teaser combines two or more individual bets to create a larger wager, and it has a lower payout than a standard bet. A total bet, on the other hand, is a wager on the combined score of both teams in a game, including overtime/extra innings.
The first step in becoming a professional bettor is learning how to read the betting sheets at your local sportsbook. This piece of paper shows every sport and game that the book is offering, as well as the odds for each bet. Typically, the betting sheets are located in front of the ticket windows and will be free of charge.
Once the betting lines for a given game are released, there is a period of time when the limits are very low. This is because the sportsbooks want to prevent professional bettors from betting big amounts of money early and tilting the line in their favor. Once the betting public has a good feel for the line, the sportsbooks will raise the limits and shape it into its final form.
Lastly, it’s important to remember that sports betting is a highly opinion-driven industry. The loudest and most controversial opinions generate the most buzz and discussion, which in turn leads to increased ratings for the media outlets that spew these hot-takes. This has a massive impact on how the betting public perceives a given game. For example, if ESPN pumps up the Seahawks all week long, then the overwhelming majority of bettors will see Seattle as an unstoppable juggernaut and select them to win their bets.