How to Profit in the Long Term Sports Betting: 101
Written by: Daniel Collins
Last Updated: Thu Jan 25, 2024, 1:59 pm ET
Read Time: 5 minutes
With so many new sports gamblers signing up in the United States, one of the most commonly asked questions is: How does someone profit long term betting on sports?
Well, there is no exact formula (there would be no industry if the players won all the time, after all).
But, we can try to give you some concepts that you should consider to try to end up in the green more often than in the red.
Manage Your Bankroll
The first thing we have to tell all gamblers, no matter how advanced they may be, is to keep a close watch on their bankroll.
This is your lifeline in gambling, so take care of it like any other nest egg that you have, and it will last you much longer.
You should consider picking a starting bankroll that is enough for you to enjoy betting on your favorite sports, but that also isn't going to be detrimental if you lose all of it.
Then, you want to break your bankroll up into units, based on the average bet size you are comfortable making on games.
A unit can be:
$5, $10, $25, $100, $500, etc, but you should never bet more than you can afford to lose. There are no guarantees.
Your unit size should be no smaller than 1/100th of your overall bankroll, or 1%
So, if your bankroll is $1,000, your unit size should be $10.
Then, you should never bet more than a few units on any game, which means you will never have more than 1-3% of your total bankroll on the outcome of a single event. Most sports bettors stick strictly to 1 unit plays, with the occasional 2u or 3u bomb.
This type of simple bankroll management should give more life to your betting career.
Do Your Research
Here at Betting News, we have tons of guides and picks from our experts to help you get started.
We also have tons of writers who put out game analysis articles every single day, breaking down individual matchups and giving out picks in each games. We cover nearly every sport you can think of:
We've got it all. And it's all FREE!
When it comes to sports betting, it is important to take the time to really dive into why your bet may win or lose. Use as many resources as you can find to research the stats, trends, and other projections that may help you win your bet.
We also host daily streams on Twitch, breaking down the best bets of the day across multiple sports.
We also have tons of informational videos on our Youtube as well!
Be sure to tune in and come vibe with the boys!
Shop For the Best Lines
Line shopping is one of the most valuable strategies any sports bettor can implement for absolutely no extra money. By having accounts at multiple sportsbooks, you can automatically shop for the best line, and get the best odds available.
Each book sets their own individual lines, meaning there may be discrepancies between the odds or exact numbers. Shopping for the best line, and betting the best odds available to you will pay you back in the long run.
You will either win bets that you should've lost, paid less juice, or gotten more bang for your buck. All of which help grow your bankroll in the long run.
If you are in need of a sportsbook, click on this button below! Using our sign up codes for multiple books could score you plenty of bonuses to get you started, which leads us to our next point.
Find All the Bonuses You Can
When first signing up at a sportsbook, there is a good chance they offer you a deposit bonus. If not, check out our offers page to help get you some free house money.
Bonuses are great to help you build a starting bankroll, and you should be signing up for multiple accounts anyways to do your line shopping.
You might as well start off your sports betting journey with a ton of extra money to play with!
At Betting News, we have sign up bonus codes for:
Understand Sports Betting Vocabulary
You need to understand the sports betting terms and what you are betting on. This is where our Youtube can come in handy.
We have tons of informational videos breaking down spreads, moneylines, totals, parlays, etc.. with what they all mean and how to better understand an odds board.
Sports bettors need to be able to understand odds and lines, what is an over/under, the difference between a spread and a moneyline, along with plenty of other skills including self-discipline, data analysis, and an open mind.
You can also find out what it means to "Pay the Juiceman".
There are tons of ways to win a bet. The key is finding a process that works for you, looks at a game from all angles, and most importantly, is successful long term.
Basic Sports Betting Terms
Here are just a few terms broken down quickly to help you understand!
- Point Spread: Betting on a team to win by a certain number of points, or to keep the game within a certain number
- Moneyline: Simply betting on a team to win the game
- Over/Under: Often referred to as a "total", this is betting on the total number of points scored in the contest between both teams to be over or under a specific number
You're Not in this Alone
You should always ask questions and try to learn as much as you can about the sports betting world.
It is ever changing and full of new information to make you an even more informed on how to make the best bets.
We at Betting News pride ourselves in giving you the best and most accurate information available in this avenue.
We are always open to answer any questions you may have!
You can contact us on Twitter @YourBettingNews and one of our experts will get back to you and have a conversation with you.
Also check out our Youtube for all kinds of fun and educational videos.
At the end of the day, its all about making money and enjoying yourself while doing it.
Never forget that.
If this becomes overwhelming or you are finding it hard to handle, financially or otherwise, there are resources to help you:
You can call 1-800- GAMBLER or go to their website HERE
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