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How do you successfully bet on sports?

Six tips for becoming a sharper sports bettor 1Know your bet's break-even rate. 2Shop around for the best price. 3Know the value of a half-point, especially in NFL betting. 4Avoid parlays, especially single-game parlays. 5Place your bets early in the week, not at the last minute. 6Focus on closing line value.

washingtonpost.com - Six tips for becoming a sharper sports bettor - The Washington Post

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2 Shop around for the best price

You wouldn’t buy a car without comparing prices, and you should take the same approach to sports betting. This is harder to do at brick-and-mortar sportsbooks — or in jurisdictions that limit your mobile betting options — but as long as you have multiple shops, you are giving away money if you don’t compare prices. This process, also known as line shopping, is an underrated exercise that many sharp bettors consider a crucial part of their success. “Line shopping is the single sharpest thing you can do to advance your sports betting game,” explained Jack Andrews, a professional bettor and co-founder of Unabated, a website that offers line comparison calculators and other tools geared toward educating the betting community. “When you line shop, you are looking for the lowest vig: -105 compared to -110, for example. And you will lose less when you are wrong if you pay less vig.” The vig is the cost of the bet, which typically ranges from 4 to 5 percent for a straight bet, depending on the market. The vig, or hold, on a futures bet is much higher. No matter the sport, games might have multiple prices and numbers offered at various oddsmakers. For example, here are prices offered from a June baseball game between the Arizona Diamondbacks and San Diego Padres. If you felt the game would go under seven runs, then the +100 price at DraftKings would have been your best option. If you felt the game would go over, you could put money down on over 6.5 runs at +105 at Caesars or at +107 at Pinnacle. In fact, you could have bet both sides of the market and locked in a small profit no matter the outcome. In such a scenario, if exactly seven runs had been scored, you would have pushed on one bet and won the other. Access to multiple sportsbooks, of course, is critical for this approach because each could offer a different price and number.

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