Sports betting has been a favorite activity in most parts of the world - and for good reasons. Aside from the benefits of entertainment, it gives the bettor an immediate gain and, in some cases, a way to make money, and it is just everywhere. It has become a multibillion-dollar industry, making it even more appealing to people worldwide.
Among the major sports, though, football games gained popularity amongst bettors because it's widely available both on TV and internet, not to mention the numerous tournaments the game has, which means more profit for them. Betting on the NFL games yield higher returns and could be especially fun when you win.
However, being a pro bettor requires hard work, patience, and dedication, like all other things. Maybe, you have already made bets, but most don't come to fruition. Bet you want to know how to become a pro, so here's a list of things to keep in mind:
Be Wise, Don't Just Throw the Dice
Forget the days of immature betting and start using your head rather than your heart. Remember, you want to be a pro, and being one requires you to focus on the numbers that make or break the game. Researching the different factors and relevant statistics gives you a lesser room for failure and more chances of success and profit.
You can check out various online platforms that help you make your weekly NFL picks. Reading more, knowing your odds, and being objective means you are ready to step up your game. It is wise, and don't let others tell you otherwise.
Know the NFL Betting Lingo
You must have known by now that the betting industry surely has a broad set of vocabulary, and you might have encountered some of these. While knowing the 'rules of the game' is important, you also have to be familiar with betting terms to make sound decisions. Here are some of them:
This means that you have a monetary interest, usually money, in the outcome of the game. In short, to have action means you have placed a bet on the game.
This is typically a company or person that takes the bet and is the one that you go to for a payout (if you win, that is). Some of the world's most famous sportsbooks can be found in Las Vegas, but they are also available online. In fact, the online variety is already becoming common.
Some bookies (short for bookmakers) allow bettors to have a better line than what is already set which changes the odds of their bet, but they have to pay for it for a 'premium price.'
"Cover the spread" or "betting against the spread" are common phrases used in the football betting world. Basically, it is the result based on a point spread. If favorite teams win by more than the point spread, or if the underdog wins or loses by less than the spread, it can be said that they have 'covered the spread.'
Otherwise known as the spread. These are created so that each team can have an almost even winning chance. To further understand point spread betting, here is a scenario:
Suppose you placed a bet on Kansas City Chiefs -7 to beat San Francisco 49ers +7. In this case, the Kansas City Chiefs must win by more than 7 points for you to win also. If they win but by lesser than this number, or if they lose, you will lose your bet. On the other hand, if you placed your bet on the San Francisco 49ers +7, if the team loses by more than 7, you lose, too. But if they lose by six or less, you win.
In some cases, when teams match a spread or a tie, bettors' money is returned to their account with no losses or gains. This situation is known as a push. It means you did not lose but did not win either.
Pay Attention to the Players
Football teams and players are so famous worldwide, which also makes football betting very popular. Since they are the most important among all the factors, you must add to your research the strengths and weaknesses of each player. Also, you need to be aware of team injury reports, which of them missed a practice, or their status for the next game.
With the internet's possibilities and the rise of social media, it is not so hard to know these basics.
Recognize The Importance of The Venue
Knowing when and where the game was held for the previous week is also an essential factor to consider when placing a bet. Some teams are placed at a real disadvantage when playing in a different field than what they are used to, so it is important to compare their home vs. away record.
Being a pro at sports betting is more than just knowing the trends. You must be keen on other factors, too. Like the sports itself, you should also have the necessary skills to devise an effective strategy and technique for a sure win.
Make Money With Python — The Sports Arbitrage Project
1. Scraping live betting data with Selenium: In Selenium, use WebdriverWait
2. Clean and transform live odds data: Odds data from different bookmakers come in different forms, so we need to format them properly to be able to compare them and find surebets. The Pandas library comes in handy for this.
3. Matching team names: Bookmakers vary the way they write the same team names.
4. Finding surebets and calculating the stakes