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Many years ago when I started
betting on sports, I never imagined that ten years on I
would be betting and trading for a living.
So how did it all start?
Well, 'for fun' I would think is the most accurate answer!
I placed bets for fun on sporting events that I intended
watching on TV or attending in person. These bets, along
with the small amount of betting research that I did back
then, tended to increase my knowledge of the particular
sport on which I was betting and certainly made the event
more exciting to watch.
Now of course I stake my
bets far more heavily, research more thoroughly and trade
off positions as necessary. Yet sometimes I do miss those
'carefree' days when I had "twenty bucks on the
game". It adds to your day - especially if you win!
So what are two basic
things that the sports bettor needs: Firstly he needs a
place to bet online - no cheap plugs here but two
sportsbooks that I particularly like, both of which are in
world's "top ten" online sports betting and
gambling groups, are: - www.vipsportsgroup.com
and www.betongameday.com
- both sportsbooks also offer free comprehensive sports
news, stats and matchups data.
Secondly - the sports
bettor needs to have a feel for 'value' when betting. If
the three rules of purchasing property or real estate are
"location, location, location." then the three
basic rules of sports betting success are: "value,
value, value."
Think about it - would you
go to a store and by a broom for $20.00 when you can buy
it for $10.00 at an equally close location?
Or if you were purchasing
stocks or shares - would you simply buy the stock, or
first consider the stock's price - factoring in
price/ratio, moving averages, historical data and economic
outlook?
It boils down to -
"not paying more for a product than that product is
worth."
When I look at a bet - I
have a rough idea in my head of what the odds should be.
If the price quoted by the sportsbook is sufficiently
above that estimation in percentage terms - then I will go
ahead and bet on the event.
I will not win every bet,
especially on underdog plays - but in the long run I know
that if I go with value - then I will come out on top.
The best advice that I can
offer to those starting out in sports betting is to
"stick with what you know". If you have a team
that you follow and already know well - then you are, in a
sense, already a "mini expert".
More on the "concept
of value" in my next article. In later articles I
will cover; money management, standard deviation, strike
rates, specific sports and more.
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