Most sports investors (bettors) don’t live in Las Vegas, Atlantic City or near a casino, so online sportsbooks can be very convenient. Some sports bettors that live in Las Vegas or Atlantic City use online sportsbooks in conjunction to casino sportsbooks to place wagers. There are sports investors that make substantial profits from online sports betting and it is their primary source of income. Some sports investors make money from tailing reputable handicappers and some are handicappers who make their own plays. Although most sports bettors out there are casual bettors and bet for a hobby. This online betting guide was put together as a reference and guide to help new online sports bettors.
Online Betting Guide: Convenience
How convenient did online sports betting make sports betting? Very convenient, as today you can pull out your smart phone login to your online sports betting account and have a bet placed in literally a couple minutes. Whether you are putting in your own bets or tailing a sports handicapper, you can place a bet anywhere with an internet connection. You can place a bet on your desktop, laptop, tablet or smartphone. You don’t have to leave your house or the sports bar to go place a bet with the convenience of online sports betting.
Online Betting Guide: Sportsbooks
There are many online sportsbooks in today’s age with many different betting options and sports to bet on. Most online sportsbooks today you can bet on nearly any professional sporting event and many college sports. Online sportsbooks give you the options of straight wagers, parlays, teasers, future bets, proposition bets, live bets and more. Some online sports betting sides such as 5Dimes allows you to buy points with adjusted odds to wager.
Are Online Sportsbooks Safe and Legit?
Many online sportsbooks are secure, safe and legit businesses with solid customer service. You do have to be careful on which ones you chose. In this online betting guide there are a few online sportsbooks we recommend below that are well known and reputable companies.
Online Betting Guide Tip: Trustworthy and Reputable Sports Books
Note: These websites above accept American players, have great customer service, easy deposit methods and quick payouts.
Multiple Sportsbooks to increase profitability
Using multiple sportsbooks whether it be online sportsbooks and/or physical sportsbooks can help you find the best odds to place your bet. If you live in Las Vegas or Atlantic City you will have access to multiple physical sportsbooks where you can place bets. If you are sports investor that does not live in Las Vegas, Atlantic City or any city with multiple sportsbooks, you still do have many of solid online sports betting options. Some sports investors that do have the option to use physical sportsbooks in casinos sometimes would rather place online sports wagers because they might find better odds online or for the convenience.
Some of the sports bettors that place large wagers might have to place big bets in a casino’s sportsbook. There are some online sportsbooks which will take wagers of $5,000 such as 5dimes.com. Also, if the sports bettor wants to risk larger than the online sportsbook allows they can place their same bet (play) at multiple online sportsbooks.
Bankroll Management
Bankroll management is important whether you are online sports betting or betting at sportbooks located in casinos. Betting responsibly is important and you shouldn’t risk more than you are willing to lose. For your “sports investing bankroll” you should set aside an amount of money that you are comfortable playing with.
Betting Guide: Unit Size
As a rule of thumb a “unit” should be anywhere from 1% to 4% of your bankroll. A “Unit” is not any certain amount of money but it is usually designated as the sports bettor’s standard wager. Some sports bettors and handicappers will risk multiple units on certain plays.
Even if you are tailing a trusted sports handicapper on a multiple unit play it should not be over 4% of your bankroll set aside for sports gambling. If you are tailing someone who gives out multiple unit plays as their big plays you can designate a “big play” as your 4% bankroll wagered plays. For instance if a sports handicapper consults clients with 1 to 4 Unit Plays you can make the 1 Unit Plays=1% of bankroll risked, 2 Unit Plays=2% of bankroll risked etc.
Example: Say you have $10,000 set aside for your “sports betting bankroll” your average play (wager) should be $100 (1%) to $400 (4%) per play.
Note: The reason why you shouldn’t risk more than 4% or 5% of your Sports Investing Bankroll on any play (bet) is because you could have a bad day or cold streak and diminish your bankroll.
Online Betting Guide Tips: Strategy
Being disciplined and not overextending unit size are important in long term sports (betting) investing. Sports investing should be a long term strategy and you should bet smart and look for quality plays over a quantity of plays. Every sports gambler will have hot and cold streaks.
It is important not to increase your unit size significantly while you are hot. Especially if you think of the law of averages implying you are due to go on a cold streak or “cool off” per say. When you do profit and build up your bankroll it does make sense to increase your unit size slightly. If you profit and your bankroll increases you can still use the 1% to 4% per wager of your bankroll rule of thumb.
Be very weary of playing a side which has high percentages of the money on. Sometimes the oddsmakers will set a “trap” that they think will look appetizing to the general betting public. Also be aware that sometimes even if a higher percentage of bets are on one side there could be actually more money on the other side. This could be because the “sharp bettors” bet larger and are on the opposite side of what the perceived popular public play. Whether it is a team or a total if the public is all over one side, I would look to maybe fade (bet against) the public or pass on the game. I am not saying your strategy should be fading public bets, but public plays are generally weak plays.
Becoming a successful sports investor takes time, experience, expertise and patience. Finding the best odds possible by having multiple sportsbooks or online sportsbooks can give you a slight edge. Unless you are an experienced sports bettor and are confident in your plays, you might want to find a reputable professional handicapper.
I hope everyone enjoyed the Online Sports Betting Guide and Tips, please feel free to send any questions to info@premiusportsplays.com.