Sport Betting Can Be Very Profitable
Despite the efforts of the Federal Government to curtail or eliminate sports betting and gambling on the Internet, Billions of dollars are being wagered each year through the internet as well as legal land based casino’s, sport books and the illegal sport betting bookies throughout the world. Sports betting is estimated to make up to nearly 20% of all gambling dollars spent. Unfortunately most of that money will go in the pockets of the bookmakers. Winning at the business of betting sports is more of a skill than a game of luck such as spinning the wheel on roulette table or pulling the handle on a slot machine. Sport betting is an art and science and many sport enthusiasts who take their sport betting seriously are making huge profits while sitting back on the couch on Sunday afternoon enjoying their favorite pastime. Handicapping a full schedule of weekend football games can take the serious handicapper upwards of 50 hours of research each week. Statistical number crunching, studying game situations, injury’s, weather conditions, watching line movements and gathering information from newspapers from around the country. Of course then you must have the knowledge of how to use the information once they have it assembled.
We’re not referring here to the hobbyist player or recreational player who might lay down 5 or 10 dollars on their alma mater or hometown team on a Saturday or Sunday afternoon just to have an added excitement to watching the game. They are not making sport betting a business, but then you do have the amateur bettor who takes his sport betting serious but not in the same category as the professional. This is the group that gets into the most trouble. This is the group that in most cases have a degree of addictiveness in sport betting. These are the ones who will find any reason they can muster up to place a wager, especially if it’s a TV game. Why do you think the sport books in the Las Vegas Casino’s put a big “TV” next to the lines on the board? Because they know they will get more action on those games and they also know the money isn’t always coming from the pro who may have an inside track on the game. Without having the knowledge, doing the research and spending the time on handicapping, the hobbyist sport bettor has very little chance over the long run of making profit betting sports.Even taking the 50/50 way out and flipping a coin won’t get you profit. The bookmakers have a built in commission, also known as the “Vig” (vigorish) or the “Juice”.
This is how the books can stay in business. Depending on the type of wager the book will take 10% of the wager on losing bets. So if you want to win $100.00 on a game, you have to lay, or give the book $110.00. If you win, no problem. You get your $110.00 back plus the $100.00 you won. However, the losers will lose their $110.00, which means they now have to win their next two bets to make a profit. The actual figure for making a profit over the commission is approximately 53% or you must win 53 of every 100 bets you place. Not as easy as it may sound. The professional sport bettor is usually very satisfied with a 60% win record at the end of the season, that’s only 7 points over the break even, but will show a substantial profit. More and more people today are starting to make sporting betting their home business. With the assistance of a sport-betting advisor they are able to enjoy consistent profits from their sport betting. Sport betting advisor’s, also known as “sport services”, are professional sport handicappers that do all the research and analysis and provide the client with a recommended play or plays from the current day’s sports schedules. It is the responsibility of the client however to place their own wagers, as it is illegal for the sport service to place the wager for them.