In his seminal book Getting the Best of It, sports bettor, poker player and gambling theorist David Sklansky expounds the fundamental principles which allow a player to flip the odds in his favor and become a long term winner. At the most basic level, a player needs to have a mathematical edge with a positive expectation over the house. This simply means that if a player bets a dollar he will expect to get that dollar back and an additional return on top of it. If a player bets one dollar and expects to win $1.10 then he has a 10% edge on that wager.
Sharp sports bettors gain an edge by identifying mispriced lines. In the case of point spreads, a sharp player may estimate the underdog is a 10 point loser when the book makers only have him listed at -5. The pro sports bettor could then place a bet on the favorite and expect to win that bet considerably more that 50% of the time. This would generate a positive expected value or “positive EV” for short. If he can find many positive EV bets every day he can then place large sums of money on these short term investments with quite good rates of return. These mini investments may have expected returns of between 1% and 10%, not bad when savings accounts are paying less than that per year. But here’s the kicker: the sports sharp is making those returns per day. He can get his money out of most of these investments at the end of the day. His money thus compounds daily. A sports bettor with an aggregate edge of just 2% who lets his money on daily bets compound for one year with have annual returns of 13,770%!
NCAA basketball is a good place to start
If you’re new to sports betting, the NCAA is perhaps the best sport to start on. One reason is its sheer popularity. There are 371 teams in Division I alone. Games are frequently played multiple times a week, unlike football. On top of that, NCAA basketball has perhaps the most avid fan base of any sport on earth. This is very important from the perspective of a sports bettor because it means lots of irrational betting based on emotion. A great beginner’s resource for learning the ins and outs of college basketball odds is covers.com
Founded in 1995 by sports betting legend Teddy Covers, covers.com is the best source on the internet for spreads, odds and industry news. Its round-the-clock staff has decades of experience and provides some of the sharpest sports insight you’ll find anywhere. They also maintain an updated ranking of all the best sports books. If you’re looking for an all-in-one resource to jump start your sports betting career, look no further than covers.com.
Of all the forms of professional gambling, sports betting has produced the highest number of huge lifetime winners. Teddy Covers, Billy Walters and Lefty Rosenthal are the name of just a few bettors who have made hundreds of millions of dollars doing nothing but betting sports. There’s no better time to get into this lucrative industry. Head on over to covers.com and start your sports betting journey today!