Before you can start thinking about your strategy for winning sports bets, you need to know the rules of the game.
This includes understanding what payouts are available, how odds work, which bets are more likely to win (picks), and which bets you should avoid.
How Odds are Calculated?
If you want to make sure you’re not wasting money on losses, it’s important to understand how your bet is calculated. Odds are determined by the bookmaker who sets specific payouts for given outcomes. Typically, if a team has an 80% chance of winning a game, they will also have an 80% chance of paying out at that same rate.
Odds are always calculated in ratios; therefore, if one team has more than twice the odds of winning than another team, then they will typically pay more than twice as much money on that bet. In traditional gambling, you’re betting with your real money. With sports betting on the other hand, you can make several bets at a time so long as they don’t exceed what is allowable for that particular game or event.