All posts by phnseo

Online Betting Terms: E

Online Betting Terms: E

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There are a lot of betting terms to master, and understanding, here you can find the general online betting terms out there:

Each-way: A bet on a horse to place as well as win. Place terms depend on number of runners and type of race.

Edge: A punter’s advantage in a bet.

Exacta: A bet placed on the Tote that requires the first two finishing horses to be named in the correct order.

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Exotic: Any bet other than a straight bet or parley – also called a prop or proposition.

Exposure: The maximum amount of money a sports book stands to lose in a game.

Ear’ole: A ‘tic-tac’ term used in the betting ring for 6/4.

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Sports Betting: Bankroll Management Skills

Sports Betting: Bankroll Management SkillsCheck WagerWeb and find the best betting site!!!!

How you manage your bankroll will have a significant impact on how well you financially survive streaks of bad luck or bad play, but it also affects how well you manage to keep the right focus in order to play at your best.

The goals of having good bankroll management are:

  • Maintaining a healthy bankroll during streaks of bad luck or bad play
  • Allowing yourself to focus solely on playing at your best and getting better

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Bankroll Minimum Limits

Poker Variant Number of buy-ins
Cash Games 50 buy-ins
Multi table tournaments 150 buy-in
Sit and Go tournaments 100 buy-ins
Double or Nothing tournaments 50 buy-ins
Heads Up tournaments 50 buy-ins
18-man tournaments 90 buy-ins
45-man tournaments 100 buy-ins

Here are some tips to help keep your bankroll in the black.

Avoid Betting Systems

Page after page of bad bankroll management advice exists, most of which suggests that gamblers should increase their bets when they’re winning and decrease them when they’re losing. These betting systems go by different names and some have slightly different features, but they’re all basically the same.

Flat Betting

Bet the same amount for each play.  “Chasing” or increasing bet size based on your last bet is not recommended.  Over time, you may hear about various systems where you increase your bet size “knowing” that you are due to win sooner or later.  In general, these systems don’t work.

Reason for Betting on Sports

How much your maximum bet is? The answer depends on your reason for placing sports bets. Different bettors are looking to accomplish different goals – some of us are just looking for cheap entertainment, while other gamblers bet on sports for a living.

Unit Size

You should think about the type of investor that you are.  Are you aggressive or conservative?  Are you experienced or a novice?  The answers to these questions will help you to determine the size of your typical bet.  This is called your “unit” size.

Keep Track of Your Bankroll

Online sportsbooks take pride in the tools they offer their customers. Bankroll management tools built into various online sportsbooks can be your best friend.

Bankroll management is an easy concept to learn but a difficult one to keep in practice.

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Online Betting Terms: D

Online-Betting-Terms-D

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There are a lot of betting terms to master, and understanding, here you can find the general online betting terms out there:

Dam: The female parent of a horse.

Dead-Heat: When two or more horses’ finishing positions cannot be separated

Dog: Somebody who is expected to lose a fight or contest. Also known as the “underdog”.

Dog player: A person who usually places his bets on the underdog.

Doubles: An accumulator which involves two selections. Both must be successful for the bet to win.

Double Action: An “if-bet” that proceeds if the precedent bet is won, tied or cancelled.

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Double Chance: Occasionally, bookmakers may reduce the 3 outcomes for a football match to 2, by what is known as ‘Double Chance’ betting, where a single price is offered on a win or draw.

Double Result: Some bookmakers now offer books for the half-time result only, and more typically the “double result”, that is, the result at both half-time and full-time.

Draw: Reference to the number of starting stall a horse will begin a race from.

Drifter: A horse whose odds are getting bigger due to lack of support in the betting.

Ducking: A bookmaker is often said to be ‘ducking’ a horse or an outcome. This means they are shorter than their competitors in the betting to avoid big liabilities on selections they think will win.

Dutching: Backing more than one selection in an event with the aim of making the same profit whichever of the bets wins. Dutching is covered in detail

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Sports Betting: Bankroll Management

Sports Betting: Bankroll ManagementCheck WagerWeb and find the best betting site!!!!

When you are betting on sports you should always set aside a certain amount of money, which we refer to as your “bankroll”, in which you can afford to lose. Like with any type of gambling, you never want to bet betting on sports with money you cannot afford to lose.

Managing your bankroll is extremely important, and includes details like how much cash you can afford to lay down on each bet, how often and if you should vary the size of your bets, questions about whether or not you should hedge your bets, and basically every financial decision you make about your gambling dollar.

As a general rule, gambling experts advise that you never wager more than 2% of your total bankroll on any one play.

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One of the biggest mistakes that most aspiring bettors make is ignoring bankroll management altogether. Even recreational gamblers should ideally have at least some plan for how to manage their money when betting. This is a necessity for anyone serious about making consistent profits.

Having a proper bankroll enables you to make more educated betting decisions. When a specific amount of money is set aside solely for betting purposes, that money becomes nothing more than a tool for betting. This is how you should view it. The focus should not be on how much you might win or lose per se, but rather on trying to make good selections for the right reasons. This is a lot easier to do when you’re practicing good bankroll management.

Betting too much can be a very damaging mistake, and yet it’s a very common one. Everyone has a finite amount of money, and losing too much of it through betting can lead to all kinds of problems. There’s always the possibility of losing your entire bankroll, but even those who can easily afford their losses can still be affected.

You absolutely shouldn’t chase losses either. This is another mistake that’s both damaging and sadly all too common. It would probably be fair to say that most gamblers have, at some point, chased their losses, and very few of them have done so with positive results. In fact, chasing losses almost always ends in disaster. Many gamblers learn this the hard way and choose to never do it again. Unfortunately, a lot of gamblers repeatedly make the same mistake, staking more and more money in an attempt to recoup losses.

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Online Betting Terms: C

Online Betting Terms: C

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There are a lot of betting terms to master, and understanding, here you can find the general online betting terms out there:

Canadian: A bet on five selections covering doubles, trebles, four folds and a fivefold

Carpet: A ‘tic-tac’ term used in the betting ring for 3/1.

CD / C&D: Course and Distance. A sign that a horse has won over the course and distance a race is taking place.

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Chalk: The favorite.

Chalk player: A person who usually places his bets on the favorite.

Chasing: Betting on things you normally wouldn’t in order to recover losses.

Cheek Pieces: Headgear worn by horses to help performance

Clerk of the Scales: The official responsible for ensuring all jockeys weigh in correctly at the end of a race.

Circled Game: Applies to US sports. A game where the betting activity is limited by the bookmaker; this usually happens where bad weather or injury may significantly alter the chances of either team winning, thereby making the outcome far more uncertain.

Correct Score: Correct score betting is popular with football, where the total number of typical scores is limited. The odds are dependent on the actual match odds between the two teams.

Co-Favourite: A favourite who is joint favourite with at least two other horses.

Conditional Jockey: A young jumps jockey who gains a weight allowance over more experienced jockeys. The weight allowance decreases as the jockey gains more victories.

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Sports Betting Strategy: Betting Against the Public

Sports Betting Strategy: Betting Against the PublicCheck WagerWeb and find the best betting site!!!!

Betting Against the Public is one of the most popular and simplest methods used . The logic is simple: always bet against the public. Whichever team the public is loading up on, simply bet the other team.

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There is a reason why sportsbooks are in business. We’ve gone to extraordinary lengths to conclusively prove that the Betting Against the Public betting strategy will produce a positive return on investment.

How can simply Betting Against the Public produce a profitable result?

The answer is based on psychology. The public loves to bet favorites and “overs”. It’s human nature to root for winners and scoring. The media, which over-hypes winning teams that score a lot of points, further inflates this human tendency. Sportsbooks understand this and shade their lines accordingly. Sportsbooks do not look to balance their books. They look to exploit sports bettors’ tendencies by shading favorites and overs.

With the difference in long-term winning and losing measured by 1-3%, continually getting an extra 0.5 to 1.0 point every time you bet an underdog or under will increase your win percentage by 1-3%. This is a measurable fact!

Every new season we update the betting percentage data and tally our earnings from betting against the public. We also reveal the latest optimal betting percentage threshold when betting against the public. Is it 65% or maybe 70%? Every sport is different so check back at the beginning of every season for an updated report.

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Online Betting Terms: B

Online Betting Terms: B

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There are a lot of betting terms to master, and understanding, here you can find the general online betting terms out there:

Backward: A horse that is not fit enough or developed enough to do itself justice.

Bags: Bookmakers’ Afternoon Greyhound Service

Bar: This shows what the lowest odds of horses not mentioned in the betting forecast are likely to be – ’50-1 bar’ means those not quoted are 50-1 or bigger.

Banker: A selection that is fancied very, very strongly indeed. It will often be the cornerstone of combination bets.

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Beard: A friend or acquaintance whose job is to place a bet in order to conceal the true identity of the real bettor.

Bet: To lay money on the correct prediction of an outcome.

Betfair Commission: A small percentage of winnings the company takes for providing their service

Bismarck: A horse that someone strongly thinks will be beaten (sunk).

Blinkers: A device fitted to a horse’s head which restricts it’s field of vision in order to help it’s concentration.

Blanket Finish: Several horses finish a race very close together

Bottle: A ‘tic-tac’ term used in the betting ring for 2/1.

 Bookie/Bookmaker: A company who is licensed to accept bets on the result of an event based on their provision of odds to the customer.

Burlington Bertie: A ‘tic-tac’ term used in the betting ring for 100/30.

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Future Sports Betting Strategy

Future Sports Betting StrategyCheck WagerWeb and find the best betting site!!!!

Most online betting sites offer players the opportunity to bet on which team will win the World Series, NCAA National Championship, NBA Championship, Super Bowl, Stanley Cup, and other league championships. These betting options, known as future bets, open up for betting before the season begins and remain open right until the start of semi final play.

Unlike betting on a game via point spread or total, future markets have finality to their results. Pushes aren’t possible and gamblers will either lose their stake or profit.

While futures are normally bets on events to happen later in the year, they update throughout the season and postseason based on recent play. If there’s a key injury or a crushing loss or string of wins, the futures’ markets will respond. Depending on when you wager, your price on each team can be drastically different.

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Each sports betting site offers unique odds on teams winning league championships, so odds vary from site to site. To get the best odds, it’s important to shop site to site.

Sports fans make most future bets interested in backing their favorite team or player over the course of the season. Professional players avoid this wagering option due to the massive juice built into lines.

Many betting sites offer future bets with a lot of juice built in, and they can get away with extra juice simply because most bettors don’t understand how to figure out how much juice is being charged nor can they determine the pricing without juice.

To gauge the future market it is important to break the odds down at each site no matter how poor one site’s odds appear. This is because perhaps you’re shopping odds at one site with 10 percent juice, another with 20 and another with 40. The site with 40% juice has poor odds for almost every team, so a novice gambler passes them up, where a sharp gambler at least looks to see what their lines are saying. That sharp bettor does the same thing we did here in removing the juice so he can use that later in his analysis.

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Online Betting Terms: A

Online Betting Terms: A

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There are a lot of betting terms to master, and understanding, here you can find the general online betting terms out there:

Accumulator: A series of bets on multiple outcomes, all outcomes must be successful for the Punter to win the bet.

Action: Any kind of bet.

Against the Spread: A bet where you try to determine which team will cover the spread; not necessarily which team will win.

All In: A bet where all of the bank is staked.

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All Out: When a horse is trying its hardest.

All Weather Racing: Horse racing that takes place on an artificial surface. Lingfield, Kempton and Wolverhampton provide a polytrack surface whilst Southwell provides a fibresand surface.

Ante Post: It is also possible to place some football bets weeks, months and sometimes years in advance

Apprentice: A young flat jockey who gains a weight allowance over more experienced jockeys. The weight allowance decreases as the jockey gains more victories.

Arber: A punter who locks in profit through exploiting a market by backing all outcomes of an event at a combined book of less than 100%

Arbitrage: A bet that locks in a guaranteed profit, whatever the outcome.

Asian Handicap: Asian handicaps are, as the name suggests, a special type of handicap betting popular in the Far East and commonly used in football betting.

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Sports Betting Strategies: Teaser

Sports Betting Strategies: TeaserCheck WagerWeb and find the best betting site!!!!

Teasers, sometimes referred to as “Wong Teasers, are one the easiest bets to calculate value of, and then find +EV wagering opportunities.

What is a Teaser Bet?

A teaser is a parlay bet that uses modified point spreads.

For example in a “3-team 6-point teasers” using Jets/Colts o43, Patriots -3, and Jags +4 what you end up with is a parlay on Jets/Colts o37, Patriots +3 and Jags +10 as each spread is modified six points.

In football, the most common modification is six points. Example: this week there are three bets you like: Jets -7.5, Raiders +1.5, and Bills +5.5. Rather than betting these straight or in a parlay, you could make a three-team six point teaser bet of Jets -1.5, Raiders +7.5, Bills +11.5. To win the bet, you’ll need all three teams to cover.

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Standard Teaser Odds

Teaser odds vary from site to site. When betting six point football teasers, you want to find 2 teams -110 or better, 3 teams +180 or better, 4 teams +300 or better. Teasers use fixed payouts and therefore it’s difficult for the average sports bettor to decipher the odds on individual teams.

Even if the betting site you use offers reduced juice, such as -105 as opposed to the standard -110, if you pick randomly on straight point spread wagers you’re going to lose over the long run. The expected loss randomly picking at -110 is 4.55% and at -105 2.38%.

There are quite a few teasers that are great blind bets. The first is NFL underdogs +1.5 to +2.5 and NFL favorites -7.5 to -8.5. If you use these in 3-team 6-point teasers at +180 and manage your bankroll well, chances are you won’t lose much over the long run, and might even come out ahead.

Teaser Rules for Pushes

The rules for pushes are generally the same at each site. If a leg in a teaser pushes while any other leg is a loss, the teaser bet is graded a loss. A push and all wins reduce the same as they would in a parlay.

Advanced Teaser Strategy

A teaser bet is a parlay using a modified point spread. In order to analyze teasers strategically, we need to break the bet down to the point where we understand what odds we are paying per leg.

2 team 6 point (-110) teasers. To break even at -110 you need to win 52.38% of your bets. The formula used to calculate this is risk divided by return, where return equals stake plus win. For example, a bettor risks $110 to win $100, the return is $210, so the math here is $110 risk/$210 return=0.5238 which is 52.38%. This is how often “both” legs of a teaser must win for the bet to be break even. We need to ask ourselves “how often must each leg individually win to achieve a 52.38% win rate?” To calculate this, what we need to know is what number times itself equals 0.5238. Using a square root calculator, we find 0.7237 x 0.7237 = 0.5238. This means that each individual leg must win 72.37% of the time on average for the teaser bet to have neutral (break even) expectation. To keep from getting math intensive, I’ll simplify things and tell you to Google search “Moneyline Converter”, plug in 72.37%, and see in American odds format that this equates to a moneyline of -262.

We’ve now deciphered a two team six point teaser at -110. What we have is a two team parlay at -262 per team. The bookmaker sold us six points and charged us 152 cents (from the standard -110) for those points.

This same math can be used on other teasers as well.

 

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