When betting on sports or any other event, it is important to understand what it is that you are actually backing. There are several betting types such as moneylines, spreads and parlays which offer a different way to place a bet on an event and the payouts can vary depending on how many bets you include in your wager. However, a good rule of thumb to remember is that the more bets you make the bigger your payout will be, but it also means you are risking more money.
The reason why betting on any bet that offers you value is a profitable play is because you are taking a price that is lower than what your odds of winning say you should be. Using mathematical calculations and the knowledge of how betting odds are fixed, this theory is what makes professional bettors so successful.
In order to find bets that offer you value, you must learn to recognise the odds that are fixed by the bookmakers. Betting odds are not just based on the probability of a team winning, they are also influenced by a number of factors including public perception, market behaviour and even weather conditions.
Once the betting lines are set, they don’t stand still. They are affected by wagering, particularly from well-known “sharp” professional bettors and groups, as well as by new information that comes to light after the lines are released. This can include anything from an injury to a key player to a change in the weather forecast.