The calendar has flipped to 2020 and many are making their New Year’s Resolutions. Some want to eat better and exercise more. Others commit to seeing the world and traveling. Sports bettors, however, have one thing in mind for the next 12 months: making more money.
If you would like to be a smarter – and therefore better – sports bettors in 2020, here are some betting tools to set in place.
Erase the chase
One of the bigger problems sports bettors have is taking their loss and moving on. It’s not just being wrong about a game or event that irks them, it’s the thought of money lost on the wager. That disappointment can lead to panic and panic can lead to rash decisions and chasing your losses with bets on other games.
In 2020, we preach letting those losses go. If you just blew a game in which you put in the time and effort to research and handicap, why would you throw more money at a game you’re blindly betting with little insight? Take the “L”, learn from the loss, and come back with clear eyes the next time.
Spread it around
Many sports bettors get stuck in a rut, limiting themselves to the standard sides and totals. But over the past decade, bookmakers have expanded their offerings. The Super Bowl used to be the only game of the year with a massive menu of betting options but now you can find thousands of ways to wager on a single regular season game.
Derivative and half-time markets are extremely popular with smarter players looking to cut the game into sections and exploit little-known trends and patterns when it comes to how teams perform. Team totals, team props and player props have also boomed in recent years, allowing bettors to shrink the game action down to one side and even a solo player.
Many used to call these alternative markets, “sucker bets” but these derivative odds and prop lines are whether the wise guys make their money in 2020.
Don’t wait for the worse
The bulk of bets come in within the 12 hours before a game or event starts. When it comes to weekly sports like football, lines hit the board pretty much a week in advance and take action over the next seven days with smart and square money influencing the liability at the sportsbook and forcing line and vig movement to maintain the bookies’ baked-in profit.
Nightly sports like basketball and baseball move much quicker in a shorter time span but the process is the same. Overnight lines usually hit the board 20 to 24 hours before the scheduled start time – given injuries, weather or a current game doesn’t hold up posting – and sharp action will jump on any softer lines immediately.
The problem for most bettors is that they wait until closer to kickoff or tipoff to get down, which means they’re betting into what is likely the worst of the number. Professional players have already gobbled up the best value lines and bookies use that opinion to mold the number for the masses, who will then be left betting the adjusted number.
Even if you don’t bet big, you can still try to get the best set of odds for your action. Get used to checking the opening odds right away rather than waiting until game time and you will undoubtedly find better numbers on the board which could make all the difference when the final whistle sounds.