by Jack Strong

Created on: February 15, 2011

Sports betting 101.

Before placing any wagers on any sporting event you must know one thing first.  The vast majority of sports bettors are losers, only a small percentage can make a profit better yet a living.

If that doesn't steer you away from betting sports then here's a few things you should know before you begin.

Only place wagers on sports you are familiar with, if you are a hockey fan, bet hockey.  If you are a baseball fan, bet baseball etc.

Wager approximately 5% of your gambling bankroll on any one play, no more.

Play 'underdogs' more often than 'favorites' in sports that have point spreads(NBA, NFL, WNBA etc), the reason for this is this, when you play sports that have a point spread there are three(3) things that can happen, one, the 'favorite' covers, two, the 'underdog' covers and three, the 'favorite' wins but doesn't cover.  So wagering on the 'dog' you win two out of 3 scenarios. 

Try to avoid big 'favorites' at all costs, espescially when you are laying 2 to 1 or more, in the long run this is a losing proposition.

Any wager you make, always do your homework, you are risking your hard earned cash, use the internet and do the research, don't be lazy.

Like anything when things are going well and your on a winning streak, press your bets.  When they are not going so well, take a break, don't go broke in one day, that's just stupid.

When you are building your bankroll I suggest you don't play parlays, play 'straight' bets until your you see your bankroll rising.  When that starts happening there's no problem putting a parlay in here and there.  They can actually pay off huge if you can get lucky.  Three team parlays maximum for your best chance at pretty good odds, usually like 5 or 6-1.

Also, if  you ever played organised sports then you have an advantage.  It helps you understand how teams react to certain situations, like coming off a blowout, coming off a huge upset etc., If you can put yourself inside the heads of these teams and roughly figure out what they are thinking, it will help you understand when and if to wager on them.

Obviously, none of this information guarantees you will be a winning sports bettor, but hopefully it helps.

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