Top Betting Sites
Sports betting has been around for thousands of years. Roman emperors were known to enjoy wagering a denarius or two on the races. This rich tradition of placing money on the outcomes of sporting events has shifted with the times, and we now see countless online casinos offering their services as bookmakers. New Casinos aims to give you a foothold on these complicated sites and teach you how to turn a profit or at the very least stretch your bank roll.
Before we go into the details of how to become an expert in picking the winners, we have first to educate you about the different betting platforms where you can place your bets. The options are numerous like the land based shops, the pure online betting sites and the online casinos that offer sports betting, each of the platforms have advantages and disadvantages. The latest trend right now is that online casinos are adding sports betting sections in their gaming platforms, and vise versa, that sports betting sites adding online slots and other casino games. For the latest trends and developments in the sports betting industry we recommend you to read this article:
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The biggest secret to sports betting is knowing more about the sport than the bookmaker does. So make sure to learn all you can since the best betting sites are paying good money to mull over facts and figures, visit the teams and check on who is in form. Therefore you need to always have in mind that you are betting against the judgement of an experienced team of professional. The online casinos and pure betting sites will set the odds in such a way that if you bet with the bookmakers you make a tiny profit on your win and if you bet against them you will take home a big win. Here below, you will find a list with the best betting websites that combine both sports betting and casino gaming:
Online vs Land based Sports Betting
There are numerous advantages to sports betting online over walking into a store and talking to a bookmaker in person. It isn’t just the convenience. Online casinos are fiercely competitive with one another. They have to be. There are so many competing for a finite amount of players, but what does that mean for the actual odds. If you take a quick look and compere the odds, you will see that the odds are much better online. The offline betting shops are act on the assumption that people offline can’t do as much research, or compare their odds with other bookmakers as quickly.
Online Casinos vs Betting Sites
Traditional online bookmakers with long histories of taking wagers on sporting events are now competing against online casinos with similar pedigree, but they are definitely cut from a different cloth. For players the ability to have online slots, table games, and sports betting, all in one place is incredibly convenient. But are these sites as good as the pure betting sites?
Betting sites that have started to include casino games typically focus mostly on Online Slots. So in most of the cases they offer a thin game portfolio, you are unlikely to find a large Table Games selection or Live Dealer Casino. It is also very common for the sites to split your bank roll. When they do this, you can’t use the same money that you would use when sports betting to play on online slots and other casino games. It is sometimes possible to transfer the funds internally, but this isn’t always the case. Check in our reviews to make sure if they restrict your bankroll sports betting or not. Another thing that usually missing is the ‘online casino novelty’, betting sites have made little progress in that specific domain in contrast to the online casinos that are much more contemporary and modern.
Online Casinos may provide a fresh environment and being the trend setters for casino gaming but luck the expertise in sports betting that the bookmakers have. They also tent not to have that as many betting categories, but be aware that you can make bargains on those sites is you are haunting for the best odds. If you are a sports fan, then you may be more satisfied gambling on sports betting casinos but if you are not, do not think twice of it and go straight ahead to feel some new online casino thrill.
How are the Odds Calculated
When you place a bet on an online casino you will see the odds given on the page. One of the steps in creating these odds is pricing the market. Unlike online slots and other casino games, the sports betting software, odd compiler, is tailor made and in some cases is being developed in house by the betting sites. Meaning you don’t see any game developers like NetEnt and Microgaming. This means that the online casino plays a much smaller role in the player experience than a bookmaker does.
If you are betting on a Rugby game, and England is playing France, the odd compiler will need to take all kind of parameters into consideration before setting the final odds. England has a better ranking overall, and the game is in London where they haven’t lost to the French team like in forever. Such data might put them as favorite. The odd compiler will also consider the recent game results, the players form, the weather forecast and many other factors to determine a reasonable odd. The betting sites and online casinos might give odds of 1.40 to England and 2.48 to France.
So what does the number 1.40 and 2.48 actually mean? It is a decimal representations of the implied probability. To get the possibility as a percentage for England wining the game is by doing the following calculation; (1.40-1)/1.40 = 0.285 or 28.5%. You can probably work out that this gives England a 28.5% probability of losing or a 71,5% chance of winning. If you were to come along and place a £100 bet on this game, what that means is that the bookmaker expects you to win £140, 71,5% of the times, and lose $100, 28.5% of the times. The odds are always staked against you, but remember that all of these numbers are determined by a bookmaker, and even they can’t tell who is going to win with any really kind of certainty.
Okay, so the bookmaker has set the odds and players are betting, the next thing that they do is balance the books. This is most obvious in live betting. If you watch live odds towards the end of the match, when it is almost certain that one team is going to win, the odds drop right down. This is to stop people betting on the winning team last second. Balancing the books is done before the event starts. The bookmaker needs people to bet a certain way if they are going to make a profit, and the odds will change if a lot of people bet on team. They increase the margin of the other team to encourage punters to wager with them. It is very complicated trying to understand exactly how they do this, but it is important to understand how people can impact margins as much as the bookmaker’s facts and statistics.
How the Betting Sites Making Money?
Vigorish, have you heard of this odd sounding word? If you are going to delve into sports betting, you need to have. It is sometime referred to as the vig, juice, margin, or over round, and it is how the bookmakers make their money and what you need to overcome to do the same. The best way to explain vig is with a coin toss example. Say, 100 people wagered £10 on heads and 100 people wagered £10 on tails. The casino is getting £2000, all up, but they need to pay out either heads or tails. If the odds were 50/50 like the universe dictates that they should be, the online casino would have to pay out the £2000 to either the heads or the tails, which gives an odds of 2. In that way the betting sites wouldn’t make a cent, so they have to include vigorish into their odds. Then they take out the Vigorish bringing both these odds down to ensure a profit is made.
The odds for the new coin toss, including vigorich, would be closer to 1.9, depending on the system the betting site uses. This means that they have a guaranteed profit regardless of the outcome. However, that assumes that everyone places the same bet and that the probability is 50/50. In this case the vigorish will be 5%, which is the normal take for most of the betting sites.
Calculating the Vigorish
Do you feel like doing some Maths? Unlike slot games that display their Return To Player – RTP – value in percentage, the only way to determine what the betting site is taking out of your bet is to knuckle down and calculate it. I will use a real world example. A betting site has the following odds for a football game, 2.5 for home win / 3.25 for the draw / 2.87 away win. Some of that is going to the online casino, so how do you find out how much? First let’s make the decimals back into fractions, so we can work with them.
Add them together
40% + 30.7% + 34.8% = 105.5% – The extra 5.5% over 100 is what the bookmaker has added on, this is the vig.
How to Bet Guide
By making educated picks and being disciplined in your bank roll management you will stretch you bank roll, and if you are good enough, slowly build you winnings. We hope that this guide will helps, and remember enjoy sports betting. Watch the games, bask in the glory, mope in the defeats. First of all you have to remember that the bookmakers are only human, and the teams more so. When you play on an online slot, you are wagering against a computer algorithm and nothing you do can change the outcome. When betting on sports, learning more can actually effect the outcome of your bet pickings. The best of the best turn sports betting into a full time job. This guide will take to the top of the field, the advice between the pages will make you more knowledgeable than most amateur punters placing a drunken wager down at the pub.
Every decent guide on online sports betting needs to start with bankroll management. It is the success or the downfall of all punters, and you need a firm strategy that keeps you in check. Most solid bank roll strategies will predetermine an amount that you are going to bet on each game. The bankroll management that we recommend is Level Staking, it involves placing a level stake on all bets regardless of any factors and recommends to wager between 1% – 5% of your bankroll on each bet. This isn’t that exciting, but if you bet big, you might make a lot of money to begin with but when you lose – and you will lose – the casino will happily reclaim your funds. Rain, wind, or shine, you should bet the same percentage of your bankroll. If you typically pick the favorites, you are more likely to win. Maybe because of this you want to up your wagers to 3% or 4%. If you aggressively bet on underdogs, only wager 1% or 2% of your bankroll. No amount of bankroll management will overcome a bad selection, but it is a great way to ride out the losing streaks that would otherwise send you broke.
There is no waterproof strategy that will make you money when sports betting. These rules, like everything that we will suggest in this guide, are open to interpretation. When it comes to bankroll management, be consistent. Don’t tell the little fables in your head, “I lost big, but this next game is a sure thing, I will bet big and win it all back,” or you will quickly be staring down an empty balance. This is called chasing a loss, and it is one of the most common mistakes that amateur players make. Because sports are played by people on fields and odds are not determined by computer algorithms but by the real world and all its complexities, Variable Staking Bankroll Management exists. Rather than set a fixed amount to play with you determine the value of betting units and you play with a larger amount, depending on many different parameters and variables like the Value, Confidence Level, Expected Return and so on.
Line Shopping is an absolute must if you want to make some serious money or at least reduce your losses when you bet on sports. It is the practice of opening multiple accounts on various betting sites or online casinos that offer betting, to shop around the best odds. Remember that different bookmakers will have different opinions about who is going to win and who is going to lose. A good player can get a 10% – 50% increase in potential returns by shopping around to find the best odds. Bookmakers often disagree, and you can use this to your advantage. Line shopping isn’t just for increasing your winnings you can use it to cover your loses and get a feel for how several bookmakers feel the match is going to go.
The Zig Zag Theory
The Zig Zag theory is most common in the NHL and the NBA and it predicts winners in leagues using historical data, and the pressure placed on teams that are facing elimination. It applies to any best of 7 playoff series that use the 2 – 2 – 1 – 1 – 1 – 1 system. Properly implementing it comes down to knowing the sports really well. If a team is beat at home in game 1 they are about 75% likely to win their next game. You should bet on the team predicted to lose staring down a 0 – 2 losing streak. The added pressure of that third lose spurs them onto victory 60% of the time. By knowing little quirks like this, you can bet the bookmakers that prefer to see a team that has already lost twice in a row as a sure bet to lose a third time against a stronger team. It is a theory that takes into consideration the historical data of who wants it more.
The Zig Zag theory capitalizes on the public’s tendency to overact to wins and losses. The more unlikely the loss, the more the odds shift against them. This trend of gravitating away from favorites when they lose allows educated punters to buy low and take teams with a lot of pressure on them to win at an artificially high price. As bookmakers become aware of this and adjust their books accordingly, the Zig Zag theory has stopped playing as significant a role. The teams are still likely to win as predicted but these wins are factored into bookmaker’s odds, and more people know about the theory and account for it in their bets.
Forms of Betting
We start with the in its simplest form, Money line betting, where you bet on one event individually. If you go to the page in your online casino, where you place the wagers, there are dozens of outcomes that you can bet on. You can play on what the teams will score, the contributions of individual players, if they will win by a lot of a little, and all other outcomes and scenarios. Money line betting is probably the first option at the top of the screen because it is only concerned with who wins and who loses. The odds are given for the favorites and the underdogs and players bet in their bet slip which team they think will win.
Parlay betting is a very popular form of sports betting. They are connected bets that demand to perfectly predict several outcomes. The pay outs for picking the right scores can be massive but the chances of losing much higher than they would otherwise be. You might be on three event in a parlay and win two of them only to lose the last. The whole parlay is counted as a loss. New Casinos advice you to bet on related parlays.
Live Betting, exactly like it sounds, is when you bet on a match as it happens. This type of sports betting allows you to size up the teams as they play, and it can be easier to determine a winner based on what you see on the pitch, field, track. The odds will change as the event progresses. If one team gets the goal the puts them in front the bookmaker will adjust the odds to reflect this. This only happens in sports without stoppages like football. In the NFL that has frequent stoppages and time outs, the odds are adjusted at a slight delay. Exactly how this is done depends on the bookmaker that you are betting on. Some bookmakers allow you to bet on events as they happen. You can wager on next hit going for a home run, or a wide receiver running the next one into the end zone. An early goal that goes against the flow of play, or an unexpected touch down probably won’t decide the game, but it will get you some exceptional odds.
Prop bets are the wagers that punters place on the likelihood of an event occurring. For example, more than six corners in the first half or a specific player being the first one to score. People often call these chump bets because of the kind of people that wager on them. They are typically thought of as bets that people make just for fun, and bookmakers don’t need to focus on keeping the lines tight because there are so many of them and they ensure they profit but adding in some extra vigorish.
Betting on a close game, and you can’t pick a winner? Over/Under betting is often the best bet you can make in the tight matches that are too close to call. You can make a lot of money by snapping up the sloppy odds the casinos didn’t bother to change when it started raining and the wind picked up. Sports fans know that a rainy day means there will be more fumbles in the NFL, knock ons in rugby, and general sloppy play in football. Matches between teams with rivalries will have more free kicks and a strict referee is going to penalize teams more, and you might want to bet on more than one yellow cards. Over Under betting is a type of Prop Betting.
Educated punters can clean up with prop bets if they have taken the time to do the research and find the odds the online casinos forgot to tidy up. There are so many odds that it is impossible for the bookmakers to examine all of them individually. They offer they types of bets in Over/Under. If you know that a player was injured last week, and there is a big game coming up, he is probably going to spend most the time on the bench bet low. The punters that don’t know this will just hear the name, know he is good, and throw money behind it. Opportunities like this make prop betting one of the most profitable sections of the online casino’s sportsbook. There are hundreds of props available ever week, all you have to do is a little research and you will find the discrepancies that will make you money.
Your Hit Rate
In sports betting, your hit rate refers to the number of correct predictions you made compared to the number of incorrect predictions. If you wager on 10 games and you win 5 of them, your hit rate is 50%. Beginners think that having a good hit rate means that they are making bank, and they often prioritise winning over making a profit. It isn’t the number of wins that you should use to measure your success but the quality of those wins. Say you wager $10 on 10 different games, and they are all favourites. The average odds of 1.23 don’t concern you because you have bet on the best teams in the league and won the last ten games in a row but then you lose 2 matches. All of a sudden, the ten wins don’t mean a thing, because you just lost $20. Then ten wins only made you $23, and you are now ending the day with only $3 of profit. Your hit rate is 80%. Well above the average, but the $3 speaks volumes to what is really important.