Betting Tools

Like those who engage in any undertaking with the intent of turning a profit, serious punters should make use of some of the many betting tools available to them. Placing wagers without doing homework on the participants involved is no different than playing the lottery, but it is possible – albeit difficult – for those willing to put in the time and effort to turn sports betting into a money making venture. To be sure, there is nothing wrong with people placing recreational wagers based on hunches, feelings, or just to make a match interesting. Those who place them, though, are all but certain to lose money over the long-term. Money used for those types of bets should be treated as an entertainment expense, not an investment.

For those who are looking to turn betting into a means of income, though, hours of research, odds comparisons, studying racing forms (for horse betters), understanding odds, and developing a method of responsibly managing a bankroll are all essential elements of success. With standard -110 odds (1.909), winning 52.4% of wagers is the breakeven point, assuming level staking. While internet stories abound about people winning over 80% or 90% of their bets, the truth is that the overwhelming majority of those tales are fabricated. Most successful punters win less than 60% of their wagers, or manage their bet sizes such that their losses are more than covered by their wins even if the majority of their wagers are losers.

Over the long haul, the average punter, not surprisingly, loses at the rate of the average vigorish, or the difference between the amount wagered on an event and what the bookmaker pays out. That’s normally at about 5-10% of the amount that the bettor wagers, depending on the bookmaker and particular events on which wagers are placed. Overturning that margin is possible, but it is not easy. Savvy bettors will use every resource at their disposal in an attempt to swing that margin into their favor, including their favorite online betting tools.

Why are these betting tools so important? When creating odds, bookmakers take into account all of the factors that could impact the outcome of an event. From injuries and problems in the locker room to team selection and coaching match-ups, nothing gets left out. In fact, the odds change as news – or, in the case of live betting – the events themselves – develop. If the bookmakers have information that the punter does not, the punter is necessarily operating at a disadvantage and is more likely to fall victim to the vigorish over the course of his betting career. Good betting tools close this gap and provide the punter with as much information as the bookmakers have available to them.

It is only after the serious punter has access to all of this information that he can begin to swing the odds into his favor. Once he has viewed all of the information made available by his betting tools, he has to ask himself two questions. The first question is whether the bookmakers properly balanced all of the information available. For example, in spread betting on American football, it is fairly standard for the home team to get a three point advantage. This does not mean that the home team is always favored by three, but that whatever other factors are taken into account, the odds will generally move three points to the home side from that point. While it is true that the punter doesn’t know whether this precise formula was used in creating the odds on the game, working with this normally safe assumption he can make his own judgment as to whether the home field advantage is likely to make a difference and, if so, how much. If he determines correctly that the home field is not a three point advantage, but rather is unlikely to impact the outcome of the game, he can gain a considerable advantage by betting on the away team against the spread.

The second question that punters must ask having gleaned as much information as possible from their betting tools is whether the odds on a particular event are “true”. With the odd exception of a perceived chance to exploit an advantage in the public’s betting patterns, in which case bookies are really making a wager themselves, bookmakers typically lock in their profits by ensuring that the amount wagered on losing bets will cover the amount wagered on winning bets plus a profit. They don’t care who wins because they turn roughly the same profit either way. Because of this fact, the odds that they offer are reflective of how they expect punters will act rather than attempt to predict the outcome of an event. Successful punters seek out bets where they believe that this distinction is apparent and place their bets accordingly. This is only possible, of course, if they have used their betting tools effectively.

In short, betting tools seldom give the punter an advantage. Instead, they put him in a position to put himself at an advantage by providing as much information about the events as possible and enabling him to make decisions that are informed by as much information as is publicly available. In that way, betting tools are like maps: they provide the means of reaching the desired result, but it’s up to the person using them to get there.

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Odds comparison sites

Odds comparison sites, such as the one over at JollyOdds, are an essential weapon in any successful sports gamblers arsenal. They offer you the ability to see a multitude of bookie odds all in one place. Allowing you to get the best possible price available on your selected bet. Also check odds comparison reviews for information on other odds comparison sites.

Calculators

Bet calculators come in many different forms. There are ones that convert betting odds between the many different odds type’s available (decimal odds, fractions and American odds for example). There are calculators that work out your expected pay out when placing a bet on exotic bet types. There are also Dutching and arbitrage calculators. You should always have a good bet calculator saved in your favourites for quick access when needing to make decisions on what to do with your bet. Here is a good betting calculator you may like. Check Sports betting calculators stats here

If you’d like to see how to calculate different bet types such as Lucky 15, Goliath and Heinz then the best site out there is Sports Betting Calculator. They also have quality calculators that will do all the calculations for you. You will also get quality information on which bookmaker to choose for different bet types and who offers the best promotions.

Mobile Betting sites If you are a mobile phone gambler and want to know what are the best betting sites made particularly for mobile devices head over to betting sites mobile and read there reviews. They don’t only review bookmakers and casinos but also sites that will support your betting need, mobile odds comparison sites, best news sites, betting calculator and mobile live score sites to name a few.

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