SPORTS BETTING

"The smarter you play, the luckier you'll be." - Mark Pilarski

Sport betting is the general activity of predicting sports results by making a wager on the outcome of a sporting event. Perhaps more so than other forms of gambling, the legality and general acceptance of sports betting varies from country to country.

In Portugal, at practically all football matches, there is advertising for casino betting sites. Sport betting has grown enormously over the years and is probably one of the fewer bets that is safe to do on an online casino. As explained below, you better do your homework before wagering your bets.

Sport betting is a game of skill

The challenge is to gather and analyze as much information as you can about a game, weigh the probabilities of each team winning (or losing), and subsequently compare your opinion to the odds maker's. Make the right judgment and you win. It's as simple as that.

While luck may be a deciding factor in the outcome of any single game, and will inevitably go against you on occasion, it will balance out in the long run. Being a consistent winner in sports betting is not about luck but whether you are prepared to invest the time and effort to become knowledgeable about the sports you bet on, whether you can weigh all the factors in a cool, objective fashion, and whether you adopt a consistent, disciplined, long-term approach to your betting. Do all these and you will come out a winner. Remember, it's you against the odds maker, not the bookmaker.

The bookmaker is simply a middle-man who operates on a small profit margin and, ideally he likes to see half the money wagered on one team and half on the other, assuring him of a profit. If too much of the money goes on one team, the bookmaker will move the line or point spread to encourage bets on the other team in an effort to balance his book. The person you are attempting to beat is the odds maker and his views on each team's chances. Just by flipping a coin you will be right 50 percent of the time. At odds of 10/11 only 52.4 percent of your bets have to win for you to overcome the bookmaker's profit and break even, so you only need a very small edge to become a winner. Do your homework and bet selectively. 55% winning bets is definitely achievable and 60-65% is a realistic target. At those levels you will have an extremely profitable and enjoyable hobby.

Then get yourself involved in sports betting. Sport betting is the process of betting money on many popular sporting events. Instead of gambling in Casinos or any illegal gambling games, why not go for sports betting odds? Depending on which country you live in, sports betting can either be legal or illegal. If you find out, or already know that sport betting is legal in your place, then you should try it.

But before you place your bets on your favorite team or athlete, you must first understand sports betting odds. Understanding sports betting odds is obviously very critical in any sports betting event. The odds decide whether the team or the athlete you want to bet on is the favorite or the underdog. This then defines the amount of money that you'll win or whenever you choose the right bet. So if you have not understood sport betting odds, then you better read on.

Odds

In sports betting, odds are expressed in a different manner than chances. The bookmaker makes his odds to show the chances of a wanted outcome to happen. There are three ways to express sports betting odds. One is the decimal odds which are widely used in Europe except in the UK. UK uses fractional odds. In the US, where sport betting is almost illegal in every state (except Nevada), they use their own US odds.

To convert the percentage chances to decimal odds, you simply use this formula:

Decimal odds = 100/ % chance

If there is a 25% chance that a Boxer can win a match, then 100/20 = 4. 4 is the decimal odd of the boxer winning the match. If you would bet on that Boxer, and the boxer won it, then you will receive 4€ for every 1€ that you used on the bet. If you bet 20€, then you will win 80€.

Using the same example, the fractional odd would be 3/1. It would mean that for every one time you win, you will lose three times. For every 1€ you bet, you will also win 3€. In addition, you will also get back the 1€ that you used to bet.

If you would use U.S. odds, or money line odds, then a 4 decimal odd or a 3/1 odd would be equivalent to +300€. Money line odds are divided to positive and negative. The negative odds would mean that there is bigger money at stake to win 100 units. Positive money odds represent the money that you will win if you bet 100 units.

Odds for different outcomes in a single bet are presented either in European format (decimal odds), UK format (fractional odds), or American format (money line odds). European format (decimal odds) is favored in continental Europe, Canada, and Australia. They are the ratio of the full payout to the stake, in a decimal format. Decimal odds of 2.00 are an even bet. UK format (fractional odds) is favored by British bookmakers. They are the ratio of the amount won to the stake. Fractional odds of 1/1 are an even bet. Moneyline odds are favored in the United States. They are the amount won on a 100 stake when positive and the stake needed to win 100 when negative. Moneyline odds of 100 are an even bet.

On the net, there are thousands of online bookmakers accept wagers on sporting events around the world. (In the United States and Portugal, the legality of internet wagering is ambiguous, due to the fact that online bookmakers generally operate outside of the country). Some online bookmakers do not accept wagers from the U.S. due to these unresolved legal questions. The bookmaker earns a commission or "vigorish" by regarding the money at risk as less than the size of the bet placed. A common line is a €110 bet on a fair coin which pays €210 to win and €0 to lose.

On this line, it costs €220 to bet both sides of the same coin simultaneously, but the combined bet always pays €210. The €10 loss constitutes the vig. There are opposing positions on whether the winner or loser can be construed as paying the vig.

If you view €110 to win €210 on a fair coin as €100 at risk, then it will appear as if the loser pays the vig; if you view the same line as €110 at risk, then it will appear as if the winner pays the vig. It happens that standard practice among bookies is to adjust odds so the amount at risk remains constant from the winning side of the proposition, hence the common perception that the loser pays the vig. Vigs expressed as percentages suffer from the same perceptual bias. On the line as given in this example, for a fair coin, the bookie has an expectation of making €5 for each €110 bet placed, which is often divided out and expressed as 4.5% Odds on teams or adversaries are quoted in terms of the favorite (the team that is expected to win, thus requiring a riskier wager) and the underdog.

Sports Betting Basics

While at first glance the world of sports betting can seem to be a complex one, it's not nearly as daunting as it may first appear.

What is Chance?

Outside of gambling, chance is more commonly referred to in percentage terms. If you toss a coin then there is a 50% chance of it landing on heads and a 50% chance of tails. All possible outcomes in any event will add up to 100%.

If you roll a 6 sided dice, there is a one in six chance of any one number coming up. This can be expressed 16.66% (six possibilities divided by 100%).

Understanding Odds

Odds are simply a reflection of the chance or probability of a certain outcome in an event. In any event, every outcome has a chance or likelihood of taking place. Odds are simply an interpretation of those chances. The bookmakers form odds or prices to reflect those chances.

Most online bookmakers give you the option of which type of odds you want to use.

Fixed Odds Betting

When you place a fixed odds bet, you are staking a certain fixed amount of money against the bookmakers money to predict the outcome of the event. The bookmakers’ odds reflect how much you will win from the bookmaker if your prediction is correct.

Stake

When placing a bet, your stake is the amount of money which you risk or gamble. If you win then your winnings are calculated according to the odds at which your bet was agreed.

Laying Odds

This is another term for a bookmaker taking bets. By agreeing your bet, the bookmaker is laying that particular outcome of the event. The bookmaker is risking their money to lay, or to promise to pay the winnings, should your bet be successful.

Odds Against

Odds against is the term used to describe a bet where you will receive a return of more than double your stake. The profit on the bet will be more than your stake.

Even Money

Also known as EVS, this is when the return will be double your stake. The profit on your bet will be the same as the amount you staked. Both you and the bookmaker are risking the same amount on the bet

Odds On

Odds on is the term used to describe a bet where you will need to stake more than you will win. In fractional terms this is anything with odds of less than EVS, so 1/2 is odds on. The word “on” indicates that the odds are reversed. You may hear the expression 2/1 on referring to a selection with odds of 1-2.

Short Odds

This indicates that a selection has a good chance of winning. Short odds will be where you wouldn’t receive a large return for your investment. For example a horse at 6/4 would be considered short odds.

Long Odds

This indicates that a selection has a poor chance of winning. If you bet at long odds you will receive a good return on your investment if you are correct. For example, a horse at 50/1 would be considered Long Odds.

What is an odds comparison tool?

Odds Comparison tools compare the bookmakers prices offered on every event so that you can pick the bookmaker with the best odds to place your bet. Prices can vary greatly between bookmakers, especially on bigger price or more obscure selections. The prices are usually compared on a matrix which has all of the possible outcomes of the event you are researching down the left hand side and all of the bookmakers’ prices in columns along the top.

Just look at the differences below to see the variations between different casino sites-

There are sites that do Odds comparison, which compare from a number of well respected bookmakers and online sites. It is a good idea to have accounts with as many of these bookmakers as possible so that you are always able to gain the best prices once you find them and you are not restricted to just a few bookmakers.

Why use odds comparisons?

The odds available on any selection will often vary by 50%! It is hard enough to make a profit from betting as it is, by not backing at best price every time you are seriously handicapping your chances of making betting pay. By just gaining 20% better odds you could double your winnings! Parte superior do formulário

Better odds can alter your profit/loss over a year and increase or decrease substantially.

Comparing the odds of your selections would be very time consuming if you were going to each bookmaker’s website to check the prices of everything you consider and then comparing them yourself to see which offers the most value. The fact that everything is compared on one page on one matrix and the best prices are highlighted makes the whole process much easier and quicker, giving you more time to spend studying the form!

How to use odds comparisons

First of all you are going to need to know what you want to bet on. Visit an odds comparison site and select the sport you want to bet on from the tabs at the top of the page. Click on the event and you will be brought to the odds comparison page.

There is also the ability to change the odds to whichever format you are comfortable dealing with. Punters can choose between decimal, fractional and American odds and this can easily be changed using the drop down in the top right hand corner of the page.

Once you have found the best odds, click on the odds displayed to be taken straight to the bookmaker to place your bet.

Using Exchange Prices When Comparing Odds

Odds comparison sites not only compare the prices from all of the top bookmakers, but also the most reputable betting exchanges. Some betting exchanges charge 5% commission but the odds displayed on their sites don't take this commission into account which can sometimes be confusing if you are trying to decide if a traditional bookmaker is best for your bet or if you should place it through a betting exchange.

Other features of Odds Comparison Sites

Odds comparisons will usually have some extra time saving tools to help the player.

So that you don’t have to add up difficult decimals to work out the best total odds for the bet, the accumulator tool does it for you. All you have to do is select the match outcome that you wish to bet on and then find best bookie.

You can also combine football bets with other sports in your accumulator and the tool will work out the best bookie to place your bet on.

Reality TV Betting

In some countries, over the past few years or so, reality TV shows have become increasingly popular and so has the betting surrounding those TV shows.

The biggest reality TV show for betting is Big Brother.

Dangers of Reality TV Betting

Reality TV shows aren’t produced for betting which makes it a dangerous betting proposition due to:

• Rule changes – e.g. double evictions in Big Brother
• Contestants quitting – no refunds for this
• Contestants being added / reinstated (especially in Big Brother)
• Contestants removed for breaking the rules
• Program editing can dramatically effect voting

Awards Betting

Another specials market punters like to bet on is awards. Betting can be particularly intensive on the Oscars and the Sports Personality of the Year.

Oscars

The Oscars are decided upon by a panel. The Oscars normally have some well touted favorites but it seems the Academy often likes to make a point in one or two of their decisions and shock results in some of the major categories are common.

Dangers of Betting on Awards

While some films seem obvious winners, with a lot of category nominations, some fail to win because:

• Many of the Academy members are older actors – they vote for who they want to win rather than who should win.
• In the Actor/Actress categories giving the best performance isn’t enough – it depends on the character played and the film also.
• In the Sports Personality award it is difficult to predict who is going to vote

Politics

Politics and betting don’t normally go hand in hand but there are betting opportunities on the major elections as well as next party leaders. As there are very few candidates in these events it is rare for a favorite not to be very short odds on.

The odds compilers don’t normally get these markets wrong so a decent return is only going to usually be made if a very large stake is wagered.

What were the odds of Obama winning?

On the face of it this seems an odd question. After all, he won. But before the election it was uncertain whether Obama would win, and probability is how we quantify uncertainty. So what can we say about how this probability should have been assessed?

We know that there were betting odds — a betting exchange allows people to accept or make bets. The process converges, at any point in time, to a certain set of odds at which people are willing to be either the better or the bookmaker. This prediction market provides a "probability" of Obama winning the election. This probability kept changing over the year before the election, as shown below with some of the main events of the year marked in.

We can see how the betting odds changed in response to events. Before getting the nomination by the Democratic Party, Obama had to compete with other candidates, primarily Hillary Clinton, in each state. In the early stages of the campaign Clinton was the firm favorite, although the probability of an Obama victory briefly touched 40% after he won important states. His odds went above 50:50 in February after more successes against Clinton, and rose again when Clinton admitted defeat in May. His main competitor now was McCain, and Obama stayed the favorite until the financial crisis became very dramatic in September. From the government take-over of the major mortgage organizations through to the failure of the Lehman Brothers bank and the AIG insurance company on the 15th of September, Obama's odds fell steadily until McCain was briefly the favorite. However, from the 15th of September the odds on Obama steadily increased until Election Day, on November the 4th.

In this context a "probability" of 20% meant that people were willing to take and make bets at 4 to 1 against, which means that if someone put 1€ on Obama winning, they would receive back 4€ winnings plus their stake to make 5€ in total.

Dangers of Betting on Politics

• These events are often taking a place a few years from when the bet is placed, therefore:
• Money can be tied up for very long periods of time – sometimes a better return could be gained from a high interest savings account.
• In the time lapse between bet placed and bet settled anything can happen – war and terrorism are two factors that can majorly influence political opinions and popularity as we in the above chart.

Golden Rules of Special Betting

Only Bet If You Have an Edge

Specials markets are by and large poor betting mediums because there is no form as such to go on and punters are essentially guessing or going with gut instinct.

Bets should only be made if you are able to gain an edge over the bookmaker. The most obvious edge to have would be inside information but that is a luxury very few people have and can even be illegal depending on what it is.

Know The Rules

Unless you fully understand the rules then you can’t hope to bet successfully on specials.

Sports Betting - Understanding Totals

Many sports bettors believe betting on overs/unders is easier than trying to predict the winner of a game and bookmakers tend to agree with that fact by placing smaller betting limits on overs/unders than they do when betting a team, either against the point spread or on the money line.

Point spreads

Understanding point spreads is a key first step to learning about sports betting. What is the Point Spread?

In any football or basketball game (the main sports that use point spreads) there are two teams playing against each other.

Those teams, though, are rarely exactly evenly matched - meaning that typically one team has a better chance than the other to win the game. If bettors were allowed to bet on who was simply going to win the game, smart ones would obviously bet on the better team (likely winning more than 50% of the time in the process).

If winning were that easy the Las Vegas and offshore sports books would stop taking any bets! This is where the point spread comes in: the basic function of the point spread is to balance the likelihood of each team "winning" by adjusting the final score by the point spread.

Bookmaking

The general role of the bookmaker is to act as a market maker for sports wagers, most of which have a binary outcome: a team either wins or loses. The bookmaker accepts both wagers, and maintains a spread which will ensure a profit regardless of the outcome of the wager. However, the key assumption is that the total amount wagered is equal on each side. An imbalance results in a certain amount of exposure (event risk) to the bookmaker. To avoid this, bookmakers adjust their prices to attempt to balance wagering, so that they get the same amount of money on both sides.

Bookmakers generally offer two types of wagers on the winner of a sporting event: a straight-up or money line bet, or a point spread wager. Moneylines and straight-up prices are used to set odds on sports such as football, baseball and hockey (the scoring nature of which renders point spreads impractical) as well as individual vs. individual matches, like boxing. For these sports, bookmakers in Europe and Asia generally use straight-up odds, which are quoted based on a payout for a single bet unit; for example, a 2-1 favorite would be listed at a price of 1.50, whereas an underdog returning twice the amount wagered would be listed at a price of 3.00.

For example, suppose that a Americancollege football game between Kansas State and Stanford had Kansas State as a 27 point favorite (quoted as Kansas State -27, or Stanford +27):

• If Kansas State defeats Stanford by more than 27 points, they have covered the spread and bettors on Kansas State would receive 100€ on a 110€ bet. Stanford bettors lose the 110€ they wagered.
• If Stanford defeats Kansas State, bettors on Stanford would receive 100€ on a 110€ bet. Kansas State bettors lose the 110€ they wagered.
• If Stanford loses by less than 27 points, they have won against the spread. Bettors on both sides are then treated exactly as if Stanford had won the game.
• If Kansas State wins by exactly 27 points, the wager is called a "push", and neither side wins. Standard practice by U.S. bookmakers is to return the stakes of all bettors on the game in full. To prevent pushes and ensure that they receive their commission on losing wagers, bookmakers often set point spreads that include a half-point.

Overs/unders, more commonly referred to as totals, are a type of betting opportunity offered to gamblers where they may bet that the final score of a game is over the bookmaker's posted total or it goes under the number. The winner of a totals bet is determined by adding the final score of both teams. It's that simple.

Imagine the New York Jets are playing the Miami Dolphins and the posted total is 40. If you bet over on the game, you win your bet if the two teams combine for more than 40 points. If the Dolphins win 24-17, for example, you have made a winning bet. If the Dolphins were to win 24-14, you would lose the over bet, as the final combined score was just 38. If the final score added up to 40, the bet would be considered a push, or a tie, and your money is returned to you.

Football and Basketball Totals

When betting on football and basketball totals, the bettor risks €11 to win €10, just as they do when making a bet against the point spread. If the bookmaker can get an equal amount of money wagered on the over and the under, he is guaranteed to make money no matter what the final score is.

Most NFL football totals will range between 32 and 52, with an average number right around 41 points. If two high scoring teams with poor defenses are playing each other, the total may be posted higher. On rare occasions, two sound defensive teams playing in poor, cold weather may see the total dip below 32, but this doesn't happen too often.

College football totals may be even higher, as some teams have great offenses and equally poor defenses. College football totals have been known to reach into the 70-point range.

When a bookmaker accepts a maximum bet on a football total, they will typically adjust the line by .5 points in an effort to attract money bet the other way, although this is at the discretion of the individual bookmaker. They may move the line a full point or they may not move it at all.

Basketball totals work in exactly the same manner as football totals, where the bettor risks €11 to win €10. Naturally, the over/under numbers are much higher, as many more points will be scored in a basketball game, as opposed to a football game, and totals can range from 120, for a low scoring NCAA team, well into the 200s for an NBA game.

When bookmakers accept a maximum wager on a basketball total they will typically respond by adjusting the line 1.5 points in an effort to attract people to be the other way. Example: If the posted total on the New York Knicks and the New Jersey Nets is 190 and a bettor places a €500 wager on the “over”, which happens to be the maximum bet allowed at a particular sports book.

HORSE RACING

Horse racing is an equestrian sport that has been practiced over the centuries; the chariot races of Roman times are an early example. It used to be associated with the mafia. Nowadays, most racehorse tracks are run by big corporations.

Winning percentages offered, vary from Racetrack to Racetrack. If you are going to bet, make sure you do your homework, being either online or offline.

You should do certain things before beginning your betting, like knowing which horses to bet on, how, and why –

Race frequency

Always note the dates of a horse’s most recent races. A horse racing at regular and consistent intervals—ideally every two to four weeks—is probably fit. A horse that’s been away for a while may have been sick or unsound. Be wary of betting these horses, as they could need a few races to get into top shape. The layoff lines in Daily Racing Form make it easy to spot a horse that’s had more than 45 days between starts. Also, check the workouts at the bottom of the past performances. If the horse has been working out regularly, he may already be fit, especially if he shows some “bullet” workouts and comes from a top trainer.

The horse’s career

All horses have a career box which gives you information on a horse’s record at the current track and distance he races at; how good he is on a wet surface and on turf. Some horses prefer certain distances and others excel at certain racetracks. Compare these statistics to the rest of the field to help find the winner.

Who are the human connections?

The abilities of jockey and trainer are extremely important when assessing a horse’s chances of winning. Keep in mind that nearly 80 percent of all races are won by the top 20 percent of jockeys and trainers at each track. Trainers are like coaches. Once they establish a winning record, after talent. And just like horses, trainers often have hot streaks.

Most trainers will fall somewhere in the 10-20 percent win range. As a general rule, avoid trainers who are winning at less than 10 percent. These days it’s not uncommon to see top trainers winning 30 percent of their races or more. Give extra special attention to horses trained by these conditioners.

Where did he finish last time?

Each horse’s running lines tells you how a horse performed in his prior races.

Running Style

Most horses will develop a certain running style. “CJ’s Combine” would be considered a “stalker.” He likes to run within a few lengths of the early lead. Assessing horses’ running styles is very helpful when handicapping a race. If there is only one horse that likes to race on or near the early lead he can often get away with an easy lead and have plenty of energy for the stretch run. If there are many horses with early speed, they can establish a fast pace and tire late, setting it up for a closer.

Placing a Bet

The tote board and the television monitors at the track will display the odds on a win bet for each horse on the next race, as well as each exacta combination. The odds will be refreshed every ten seconds or so to reflect the changes in betting activity. The odds are reported on a "to" basis. For example if horse 4 is paying 8:5 then a 2€ wager would win 3.20€, for a total return of 5.20€. Unlike sports betting, here the bettor is not locked into the current odds when he makes a wager. Rather the odds keep changing until post time, at which moment all bets are locked in.

There is a specific way to make a wager at the betting window. You should state in order the track (if you don't specify it will be assumed you mean the home track), the race number, wager amount, type of wager, and horse number. There is little tolerance for indecision at the betting window. Nobody standing behind you in line wants to risk getting locked out so make your bet as efficiently as possible.

About a minute after the end of the race the tote board will display the value of winning tickets relative to a €2 wager.

This shows what winning €2 win, place, and show tickets pay. These amounts include the original €2 wager. For example a €2 place bet on horse 5 would pay €3.00 (€1.00 in winnings and €2.00 for the original wager). The tote board will also display what winning exotic bets pay. Sometimes an inquiry occurs after the end of a race resulting in a horse being disqualified. Wait a few minutes after a race is over before discarding a losing ticket because a disqualification of another horse may cause yours to move up.

Payoff Calculation

“On bets” is one way to win the remaining pool after the track’s cut is divided among the winners in proportion to the amount bet. The payoff per €2 bet is always rounded down to the next increment of 10 or 20 cents. This is called the "breakage", which is not an insignificant amount of extra money for the track.

For example if €1000 is bet in total on win bets, and €200 is bet on the winning horse, then the payoff for the winning tickets will be determined as follows. First the track collects its share; let’s say 17% that leaves €830. Then the bets on the winner are deducted, that leaves €630 for paying winnings. The ratio of winnings to winning bets is €630/€200=3.15. This ratio is then applied to the minimum €2 bet: 3.15 * €2 = €6.30. The €6.30 is rounded down to €6.20, which is the final payoff per €2 bet. All winning bettors will be paid at this ratio, for example a €100 bet will win €100*(6.20/2.00) = €310. When collecting a winning wager the bettor will also receive their original wager back. In the above example a €2 winning ticket would get back €8.20 (€6.20 in winnings plus original €2.00 bet).

If the case of the place and show bets the math winning pool is divided equally into one pool for each winning horse. For example assume €1000 is bet on place bets and the first and second places horses are x and y. Further assume €100 is bet on x and €200 is bet on y. First the house takes their 17% cut leaving €830. Then winning bets of €300 are deducted leaving €530 to pay the winners. Half of the €530, €265, will be paid to the winners of each horse. In this case the ratio of winnings to winning bets on horse x will be €265/€100=2.65 and on horse y will be €265/€200=1.325. The unrounded winnings for €2 on horse x are 2.65 * €2 = €5.30, and on horse y are 1.325 * €2 = €2.65. These amounts are rounded down for winnings of €5.20 on x and €2.60 on y, including the original wager winning €2 tickets on x receives €7.20 and on y receives €4.60.

Sometimes when a strong favorite wins, especially on a show bet, the winnings may round down to nothing. In this event the track must pay back a minimum of €2.10 per €2.00 bet, even if it results in a net loss for the track.

Win - You are a winner if your horse is the winner of the race.

Place - If your horse finishes first or second, you are a winner.

Show - If your horse finishes first, second, or third you are a winner.

Across the Board - If you want to bet one horse to win, place, and show, you may simplify the bet by telling the clerk that you wish to wager, for example, €2 across the board on No. 4. That’s the same as asking for a €2 win, €2 place, and €2 show on No. 4.

Daily Double - A wager calling for the selection of the winning horses in two designated races. Most racetracks offer a daily double on the first and second races. If you bet a “2-6” daily double, No. 2 must win the first race and No. 6 must win the second.

Exacta (or Perfecta) – Is a wager calling for a selection of the first and second horses in a race, in their exact order of finish. If you bet a “3-4” exacta, No. 3 must win and No. 4 must finish second.

Top Wheel - In exacta wagering, a bet that hooks up a horse the player thinks has the best chance to win a race with every other horse in the race. Let’s say you think the No. 5 horse will win, and you want to be assured of having him on top in your exacta. You would then “wheel” the No. 5 with every other horse in the race, at a cost per wager of €2. If there are five other horses in the race, “wheeling” your selection with all five will cost €10.

Bottom Wheel - In exacta wagering, a bet that combines a horse the play thinks has the best chance to finish second with every other horse in the race.

Trifecta (or Triple) - You must select the first, second, and third horses in a race, in their exact order of finish.

Pick Three - You win by selecting the winners of three designated races. You can select more than one horse in each race, but the cost of your wager will increase proportionally, also called the daily triple.

Pick Six - Not an easy task to select the winners of six consecutive races, but the payoff is usually very large depending on the number of bettors who can correctly select this winning combination.

Coupled - When two or more horses in a race belong to the same owner(s), they are said to be “coupled” and they run as one entry, comprising a single betting unit. (In other words, a bet on one horse of an entry is a bet on both.) Regardless of post position, their program numbers would be “1” and “1A”, with the horse drawing the post position nearest the rail running as “1” and the outside horse of the two running as “1A”. They will actually break from the post positions they draw at the time of entry. Even though they are listed as “1 and 1A” in the program, they may line up, for example, in stalls 3 and 9 in the starting gate.

Even Money - Odds of 1-1 on a horse where profit equals investment in a successful wager.

Odds - When a horse is 3-1 to win, it means that you will receive €6 back for every €2 wager, plus your initial wager. Thus a €2 bet at 3-1 pays €3 x 2 + €2 (your original wager) for a total of €8.

Odds-On - Sometimes, horses are bet so heavily that they return less than €2 profit

for each €2 wagered. These are “odds-on” choices. For example, a horse that goes off at odds of 1-2 pays €1 for each €2 bet, plus your wager. Thus a €2 bet at 1-2 returns €1 + €2 for a total of €3. A winner at a payoff of under €4 is “odds-on”.

Overlay - A horse whose odds in the actual wagering are greater than you think they ought to be; in other words, a horse you think is being overlooked by the public.

The opposite is an underlay.

Odds              €2 Bet Returns

1-10                      €2.20

1-5                        €2.40

2-5                        €2.80

1-2                        €3.00

3-5                        €3.20

4-5                        €3.60

1-1                        €4.00

6-5                        €4.40

7-5                        €4.80

3-2                        €5.00

8-5                        €5.20

9-5                        €5.00

2-1                        €6.00

5-2                        €7.00

3-1                        €8.00

7-2                        €9.00

4-1                        €10.00

9-2                        €11.00

5-1                        €12.00

6-1                        €14.00

7-1                        €16.00

8-1                        €18.00

9-1                        €20.00

10-1                      €22.00

12-1                      €26.00

15-1                      €32.00

20-1                      €42.00

Many betters will alter their stakes in the last race either to "chase" losses or "play up" winnings. It’s no coincidence that the bookmakers have ensured that the last race on each day is often a handicap or one of the hardest races that day. There will be more racing the next day and the day after that. The secret is waiting for opportunities and only betting when you know you have circumstances which favor you and not the bookmakers. You must never change your approach, or deviate from sensible staking as there is no such thing as "The Last Race".

To profit over a long series of bets you must be betting at odds greater than the true chance of winning your selection have. To do this however over the long term, you need to concentrate on each race individually and seek the value bet in that race.

There is value to be had in every race. The key is to understand where that value is.

You also have to make sure that you bet in the right way and in the right races as that is the only way you can keep strike rates high and protect your money.

Many betters seek the thrill of a life; making bets that will produce huge gains of instant wealth for a small outlay. Bookmakers play on your natural desire and go out of their way to encourage you to bet exotic multiple selection bets that can in one hit, turn a small stake into a large sum.

Professionals however rarely bet in multiples. Most professionals bet singles and steer away from the multiple bets. Bookmakers relentlessly promote a host of multiple bets with exotic names and the more experienced regular gamblers who are savvy enough to turn down bets that they know are stupid always let themselves down by continually bleeding their profits with senseless betting.

Emotion

Betting is a lonely game. It’s also a highly skilled game. Emotion undermines success in many ways. There is comfort in knowing that as a sheep when you are wrong it is not your fault as you were simply doing what everyone else was doing. With betting, the laws of market supply and demand, dictate that long term, the sheep will get fleeced. Emotion neutralizes discipline and long proven successful practices. Emotion is a factor that threatens all betters.

Races should be viewed in isolation from each other. We are all emotional in betting but the players at the top of the tree have this down to a fine art and can control those emotions.

Most betters are LAZY! Natural human tendency is to try and get away with the least amount of effort. Lazy punters are cannon fodder for the bookmakers. They make little or no effort in their selection process nor make an effort to extract maximum returns from their bets. They have religiously followed a doctrine of poor planning and lack of research. They refuse to study and spend hours looking at how they can win at betting. They refuse to invest in the game and invest in their own learning. You can´t refuse to spend money, just look at the racing for 30 minutes and expect to win long term. You simply can't get away with that in the hardest trade of all, winning money at Betting.

If it was that easy, then millions would do it. You must either invest in your betting, or pay someone to do just that. Those who put the most work in are the more likely to succeed.  Amazingly most betters fail to learn from their mistakes. They continue for years making the same basic errors time and time again.

Strive to improve your betting performance by continually learning from the mistakes and weakness is your game.

FINAL TIPS

If you have the right kind of sports betting strategy in place then the chances of earning a decent profit from the bets you place is greatly improved. However, don't expect your sports betting strategy to provide results immediately. Sometimes it may take a couple of attempts before you start to see a return. Below we offer a few tips for keeping in mind when you are trying to devise the ideal strategy for you when sports betting.

Tip 1 - Managing Your Money - This is the one that is most important and which most people who do sports betting tend to neglect. It is crucial that you should never bet more than you are actually willing to lose when sports betting. So you need to certain aside a certain amount of money that you will use for your bets and stick with this no matter whether you win or lose.

Tip 2 - Finding The Right Numbers - It is crucial that you spend time comparing the lines that each bookmaker has to offer before you place any bets. As you will soon discover each sports book is offering different lines and these will be constantly changing depending on how their other customers are betting with them. So it is not unusual to find that there can be a one or two point difference in the lines at various different sports books.

Tip 3 - Do Your Homework - To really be able to find the best bets possible it may be an idea to stick with one particular sport and then do as much research into it. As you will find there is plenty of information available online that you can utilize which can help you to determine just what are the best odds to go for and this is something that the sports books don't have the time available to closely follow it as you can.

Tip 4 - Check The Odds - Before you start placing any bets check the odds at various different sports books. Certainly if you are intending to wager large sums of money then this can make a huge difference in what is paid out to you when you win. Again the internet is a useful source of information for finding sports betting odds and to learn more about the various types available.

Tip 5 - When To Bet - As well as learning about the right odds for when it comes to placing bets you need to know when is the right time to place those bets as well. Certainly if you intend to bet on the underdog team in any match it is best to leave the bet until as late as you possibly can. Whereas if you are intending to place a bet on the favorite this is best done as early as possible as often the professional gamblers will be laying large sums of money against them at this time and gradually the odds will begin to get less.

Tip 6 – Use your head - Many factors determine the point spreads which include the weather conditions, if it’s a home game, last games, if there are injuries, if they are on a roll, and so on. These things can easily be discovered by checking the newspaper or going online.

The odds makers decide by them, not only by the factors above, but also by how they believe the public will bet, and necessarily on who is going to win. Most people overlook this fact which can affect their winnings. You have to look at the odds and the payouts to decide what the best bet is, for you!

And don’t bet with your heart, bet with your head. Your club or team may not be doing so well, but just because it is your team, doesn’t mean you have to bet on it. You have to know where to draw the line and separate the heart with the head.

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