Perhaps you have looked at sports betting in terms of return on investment. Then again, maybe you have not. Quick review for those who may not quite up to speed on this phrase in terms of sports betting. Return on investment starts with a basic premise that you want to get back more than you put in. That is to say, if you whip out your wallet and throw down a couple of $20s on the outcome of a particular sports event, you are hoping to get those $20s back plus a bit more. The bit more part is the return on investment.
Yes, it is absolutely true that Return on Investment is a term most often used in the world of investing. But hey look, unless you are only a casual sports bettor, you need to understand that for you to come out ahead in the long run, you need to look as your sports bets as something like an investment.
Granted, trying to explain your latest sports bet to your spouse as an investment may not go over so well. At the same time, never lose sight of the fact that this is your hard earned money you are laying on the line. Best for you if you know the ins and outs of how much you are or are not making over time.
All of the above is put there to get to the real point of this article. Its all about the simplest and easiest way to consistently earn a positive return on investment. Positive in this case means you leave with more money than you showed up with.
Do you know what the most simple and basic sports strategy is? Answer: look at what the crowd is doing and then do the exact opposite. In the sports betting world, you will most likely encounter the phrase “fading the public”. That’s just simply insider lingo that means the same thing; bet against the crowd.
Why does this work? Interestingly, the answer comes from the field of psychology. You see, the crowd, the public if you will, love to bet on the favorites or the “overs”. Sportsbooks know and understand this very well and thus adjust the prices of their offerings accordingly. At the end of the day never lose sight of the fact that the sportsbooks are there to earn a profit. This shows up by the sportsbooks shading favorites along with the overs.
Bottom line: a simple and easy tactic to increase the return on your investment from your sports betting is to remember that the crowd is most often dead wrong.
The Gorilla in this case just so happens to be another term used in and around the sports betting world to refer to the sportsbooks. Why the term? Size, no less. And such a size, that when you truly get a grasp of the real magnititude, you find yourself nodding your head and muttering hmmm to yourself. Are you ready for this?
What if you learned that the Sportsbook industry is so large that it dwarfs its nearest competitors? Consider, sportsbooks make make more money than the movie industry, the music industry and even theme parks and professional sporting events combined. Yes, you read that correctly. More than all of those others, combined! Now you understand why those in the know refer to Sportbooks as the 800 pound gorilla.
Which brings up the next most obvious question?. Does the average person placing a sports bet stand a chance? Well, truth be told, the real answer is that it depends. Look at this another way. First, consider the average person who just wants to place a wager on the home team. Does this person stand a chance against the Gorilla? Not so much. Sure this sports bettor may win a little or lose a little.
But, keep in mind that the sports book plays both sides of the bet. In other words, sports bet A versus sports B (if there were only 2 people betting). It doesn’t really even matter which one ended up as a winner. The sportsbook pays the winner and keeps the difference. Obviously, that is a simplified example, but you get the point.
Now, look to the other type of person who approaches sports betting as more of a professional activity. Does this person stand a chance? Actually, yes, and even more so than the one who wagered above. You see, professional sports bettors can and do make substantial sums of money by only ever betting solid plays. These are bets that the bettor has taken the time to get to know on an intimate basis. Only when the bet makes sense according to the criteria this bettor uses, will he/she make a sports bet. Also, the professional is perfectly willing to sit out a game or two. If there is no bet that makes sense, there will be no bet placed.
Conclusion: yes, you can beat the 800 pound sports betting Gorilla. Yet, this will only ever happen if you take the time to do what the pros do with their sports bets.