Big Money Sports Betting

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Whether your goal is to be a sports betting pro, or just earn a little money on the side, the first step to winning is to stop making –EV bets. If you understand what expected value, -EV, and +EV mean, go. Sports betting information sites earn big advertising money from these corporations, and that can influence their ratings and reviews. A good rule of thumb is to ignore reviews from information portals. “We do think sports betting is losing its taint,” Wood said. The fund manager sees more states turning toward legalizing sports betting, especially as many face huge deficits, Wood said. Sports betting is profitable. Yes, despite many taboos associated with it, sports betting is an avid hobby and profession for so many people in the United States – as in $150 billion wagered every year. Betting Variety. You will find straight bets, spread bets, proposition bets, and parlay bets, just to name a few. Range of Sports. Our online sportsbook site allows gamblers to bet on sports action 24/7 all over.

When you ask random bettors what they think about online sports betting, many are often of the opinion that sports betting is just like a little kid; the more gifts (money) you stretch at it, the more it smiles back at you.
But is this really true? You may wonder. Well, if there's anything we've learned from the history of sports betting, it is that your chances of success aren't always directly linked to the magnitude of your stakes. In fact, while some people have struggled to win anything even with their big stakes, many others have staked very little money and won millions.
So instead of likening it to a little kid, a much better comparison would be to say that online sports betting is like a young lady, and the more you know about her, the better your chances of winning her over.
So if you've got very little money to go on, but you'd like to still win big at online sports betting, then you should know that your dream is pretty much realizable, only that you’ll need to think out of the box.
That said, here are the tips you need to follow whenever you want to stake little and win big.
Try to amass a significantly high number of odds
It goes without saying that for your winnings to flow like rivers and success to grow like grasses in online sports betting, you need to master the art of odd readings. What exactly does that mean, you may wonder?
Well, what it means in a nutshell is that in order to win big from small stakes, you will need to amass a great number of odds. To do this, you should always look to select those games or events that carry heavy (big) odds. Although these sorts of games often come with greater risks, they’re your best bet to reaching your ultimate goal. The logic behind this reasoning is that when you amass a significantly high number of odds, your overall accumulation increases, leading to greater stake value and potential winnings.
Case study:
If the odd on Manchester City winning an EPL game is 1.24, and the odds of Sergio Aguero scoring is 1.84, you’re better off betting on the latter, even though it seems riskier than the former. By the time you apply this approach to about 5-6 games, you should have amassed a huge number of odds in total, huge enough to significantly multiply any amount of money you’re staking.
Choose a reliable website
If huge wins on small stakes are what you are looking for, then you need to be ruthless in your search for a betting website. The reason for this is that while some websites have got a multiplicity of options for you to bet on, several others only have limited options available.
For someone looking to multiply their stakes significantly, you cannot afford to have your options limited by a website.
Take for instance, that you want to bet on multiple games, but your website only has games involving a selected number of leagues, what do you think would be the fate of your bet? Well, your chances of winning big with your small stakes are already inhibited because your choice of games will be greatly influenced by what your provider has to offer. It is in this light that many successful sports bettors recommend playing Judi Online Spbo with a reliable and option-packed sports betting website.
Big Money Sports Betting
Case Study
Let's say you wish to add some bets – on the players to score in some particular games – to your betting slip, but your betting website doesn't offer this option, you'll have no choice than to opt for other options, many of which might carry more risks than your primary options.
Big
Focus on a specialty

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Without any doubt, it is great fun to bet on a range of games and sports, but successful bettors often focus on a specialty. For example, you may have a great history of wins while wagering on football or rugby. Similarly, the Super Bowl may be a record-breaking event for your online betting timeline. Some bettors are great at point spreads while others do well while predicting overs or under or draws. Everything boils down to identifying your core strength and capitalizing on it if you want to become a truly successful bettor even with small stakes. At the same time, you can deviate from it periodically to try your luck, keep the excitement on and explore a new area of expertise.
Learn from your mistakes
Even seasoned bettors are at risk of losing or making mistakes. The fact that you are able to accept them and see them as a lesson goes a long way in making you a solid bettor in the long run. Identify the areas where you went wrong and try to understand the alternative actions that could have got you better results. Assess your risk factors every time you place a bet because a responsible approach is essential to survive and have a lucrative run for the long haul. Also, remember that learning in the betting domain never stops because it is evolving. So you should keep pace with the latest technologies and trends as well.
Bet on multiples
Alternatively, you can win big from small stakes by betting on multiple games. If you don't feel too comfortable with placing your bets on heavy odds games, you can go for the simple (small) odds games. In this approach, you'll need to study and understand extensively the sports, teams, matchups, history, and players involved because you may need to spread your bet across different countries, leagues, and divisions. Although the chances of winning big are quite high with this strategy, you need to be extremely careful with your choice of bets because the risks are quite huge as well.
Case Study:
Instead of betting on just NBA games if you were staking a huge amount of money, you may need to choose games from NBA, EPL, NFL, Boxing, Horse racing, and lots more, if you have a small amount of money to stake and you want to use the method of multiple games. Alternatively, you can also bet on just a singular sport (say football), only that you may need to diversify into different countries or leagues (say EPL, La Liga, Serie A, Bundesliga, and so much more).

On Tuesday, according to DraftKings, an unidentified bettor risked $3 million on a three-leg parlay featuring the following: Georgia to win the SEC East division; Alabama to win the SEC West division; the Packers to win the NFC North division.

If successful, this bet would pay out $8.6 million, a $5.6 million net profit for the customer.

It's the largest parlay bet that Johnny Avello, DraftKings' sportsbook director and a 30-plus-year Nevada bookmaker, has ever taken. And it's certainly among the biggest ever placed with a U.S. sportsbook -- yet it might not even have been the most interesting bet of the week.

On Thursday, a bettor at the William Hill sportsbook at Caesars Palace in Las Vegas placed a $240,000 money-line bet on heavily favored BYU to beat Texas-San Antonio straight up. The Cougars were favored by 34.5 points. To bet BYU to win outright on Saturday, the bettor had to put up $240,000 for a chance to make a $3,428.55 profit.

UTSA took an early lead and was within one possession late in the fourth quarter but ultimately lost 27-20.

The bettor won $3,400, a 1.4% return on their investment in three days. To quote from the classic poker film 'Rounders,' 'Pay that man his money.'

Another way to look at such a unique bet is, 'Holy bleep! They bet $240,000 to win just over $3,000. What the heck were they thinking?' It turns out, though, that giant money-line bets on large favorites aren't that unique in Las Vegas.

Big Money Sports Betting

'This happens way more than anyone really thinks,' Dave Sharapan, a former Las Vegas bookmaker at CG Technology sportsbooks, said of big money-line bets placed on heavy favorites.

Details regarding the BYU bet are slim. We know the what, when and where, but not the why or by whom. Only a select few know the true thinking behind risking $240,000 for a chance to win $3,400.

Some believe it has to do with reward club points for casino comps and hotel upgrades. Others suspect something more nefarious: money laundering. A customer has illicit funds and is looking to clean the money through an unsuspecting sportsbook. But that seems unlikely -- or extremely dumb -- says Mac Verstandig, a Las Vegas attorney who specializes in gambling cases.

'If this were a laundering effort, it would be absolutely horribly done,' Verstandig said.

In the past, when Verstandig has seen instances of suspected money-laundering efforts with sports betting, he says it normally involves a team of bettors betting both sides of games on the point spread, willing to pay the typical 10% vig to eliminate the risk of the favorite losing.

'If someone had $240,000 in somewhat illicit funds, and they had a runner that could walk into a Las Vegas sportsbook without arousing suspicion with that amount, BYU, until kickoff yesterday, seemed like an incredibly safe bet, and it gets you the return of your principle into reportable, taxable income, which is what you want from a laundering point of view,' Verstandig said. 'It just sends up more red flags than a May Day parade at Tiananmen Square.'

Sportsbooks, like typical financial institutions, have to follow know-your-customer and anti-money-laundering protocols, and relationships are established with customers who place large wagers.

Sharapan didn't know the specifics of the BYU bet. But during his years behind the sportsbook counter, he saw plenty of big money-line bets on prohibitive favorites. He's seen customers carry cash into a sportsbook in a duffel bag to place big bets, but says most often they are handled with wire transfers to the casino cage or through a VIP host.

'Someone bet a house on BYU to win the game,' Sharapan said, 'and it may never occur to that person that they could lose -- until it does.'

Here is this week's edition of Notable Bets, our look at storylines from sportsbooks around the nation.

NFL

• The Raiders' upset of the Chiefs produced the biggest win Sunday for multiple sportsbooks. The SuperBook at Westgate Las Vegas said the Raiders winning outright was one of the book's most profitable games of the season so far. 'Very high-volume game, with so many money-line parlays and teasers to the Chiefs,' John Murray, executive director for the SuperBook, told ESPN.

• More money was bet on Raiders-Chiefs than any other game Sunday at sportsbook PointsBet. It was also the most profitable game of the day for PointsBet, followed by the Giants covering the spread in a loss to the Cowboys, and the Dolphins' upset of the 49ers.

• The Cardinals' 30-10 rout of the winless Jets produced one of the books' biggest losses of the day. At BetRivers sportsbooks, only 6% of the money bet on the game (point spread and money line) backed the Jets.

• Since the 2018 season, the Jets are 12-24-1 against the spread, the worst ATS mark in the NFL. They have yet to cover the spread this season.

• '[It's] basically a struggle to take a bet on [the Jets] regardless of the number,' John Sheeran, sportsbook director for FanDuel, told ESPN.

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• 'Up and down' was how multiple sportsbooks described Sunday's results. 'We probably lost more games than we won with public sides like the Cardinals, Steelers, Rams, Ravens, Texans, Browns all covering,' Murray said, 'but we won the really big games.'

• The sportsbook at The Borgata in Atlantic City, New Jersey, reported taking a $100,000 bet on the Panthers +4 for the second half of their game against the Falcons. The Panthers led 20-7 at halftime and appeared poised to cover the spread in the second half before Falcons kicker Younghoe Koo made a 54-yard field goal with four seconds to play, making the final score 23-16.

• DraftKings reported taking a $5 bet on Steelers receiver Chase Claypool to score at least three touchdowns on Sunday, at 150-1. Claypool finished with four TDs, three receiving, and the bettor won $755.

• BetMGM said it took a $290,000 bet on the Seahawks -6.5 versus the Vikings in the Sunday night game.

Nearly 80% of the money bet on Vikings-Seahawks was on the Seahawks at PointsBet. The lopsided action on the Seahawks continued after kickoff, too -- PointsBet reported early live betting on them after the Vikings jumped out to a 10-0 lead. The Seahawks won the game but by just one point, 27-26.

• Vikings running back Dalvin Cook scored the first touchdown of the game against the Seahawks. FanDuel had boosted Cook's odds to +750 to score the game's first TD, a promotion that a company spokesperson said cost the sportsbook more than $1 million.

• The chances of a team being forced to forfeit a game thanks to a violation of league protocols on COVID-19 seem to increase each week. A forfeit, while recorded as a loss on a team's record, would have different impacts on season win total bets, depending on the sportsbook. Here's a couple of examples of how sportsbook rules address forfeits, but check your book's house rules:

At BetMGM, the house rules stipulate that teams must play all scheduled games for the bets in the season wins market to be honored. If a game were to be forfeited, all impacted season win market bets would be refunded.

At William Hill, a forfeited game would count as a win or a loss in terms of season win total bets.

College football

• Las Vegas sportsbook Circa Sports opened with Alabama as a 5-point favorite over Georgia in Saturday's prime-time SEC showdown in Tuscaloosa. The line grew to Alabama -7, before settling back at -5.5 on Sunday afternoon. The total on the game had more dramatic early movement, growing from the opening number of 49.5 to 55 within the first three hours after Circa posted it.

Money

• Florida opened as a 14-point favorite over visiting LSU. That line quickly dropped to -11 by Sunday afternoon.

• Two of the three largest college football bets FanDuel accepted on Saturday were on Florida to cover the 5.5-point spread against Texas A&M: $49,000, and $25,000 on the Gators -5.5. A&M won 41-38.

NBA

• The Lakers were favored in each of their 21 playoff games en route to winning the NBA title. According to ESPN Stats and Information, they are the fourth team in the past 30 seasons to be favored in every playoff game, followed the 2016-17 Warriors, the 2014-15 Warriors and the 1995-96 Bulls.

• The amount wagered on Sunday's decisive Game 6 between the Lakers and Heat attracted a similar betting handle to an average NFL game at the SuperBook.

• The SuperBook said any money it won on the NFL on Sunday, it lost on its NBA title futures market. The Lakers attracted more bets and more money to win the NBA title than any other team by far at the SuperBook.

• 'Hats off to the bettors on this one, they bet [the Lakers] from the beginning,' Nick Bogdanovich, director of trading for William Hill U.S., told ESPN.

• The Lakers have already been installed as the favorites to win the title next season as well.

Odds and ends

• $206.8 million was bet with Indiana sportsbooks in September, the most in a month since the state authorized sports betting in the same month last year. Statewide, Indiana bookmakers finished up a net $14.2 million during the month. Bettors did get the best of the books in September at the sportsbooks at Caesars Southern Indiana (-$109,488) and Horseshoe Hammond (-$280,245). Those were the only two casinos to report a net loss on sports for the month.

Here is the breakdown by sports via the Indiana State Gaming Commission:

Football (college and pro): $48.4 million
Basketball: $34.2 million
Baseball: $30.5 million
Parlays: $50.6 million
Other: $43.1 million

• $72.4 million was bet in September with Iowa sportsbooks, who won a net $5.2 million during the month.

• A new interactive video conferencing platform centered on sports betting, BettorView Live, is prepping to launch in the U.S., showcasing betting odds, point spreads and win probabilities, and even helping place your delivery order. Think Zoom for friends wanting to watch and wager on a game together.

Public Money Sports Betting

The BettorView Live platform, virtually toured by ESPN last week, is the result of a partnership between two tech companies, Edison Interactive (EI) and BettorView, formerly known as KonekTV. BettorView content can currently be found in 1,000 venues nationwide, and there are partnerships with restaurants and sportsbooks like Hooters and William Hill, respectively.

Big Money Sports Betting Odds

Ultimately, BettorView Live aims to include direct integration into sportsbook partners' betting apps, and allow for live streaming of professional sports.