Sport wager is a game of skill. The challenge is to gather and analyze as much information as you can about a game, weigh the probabilities of each team winning, and subsequently compare your opinion to the oddsmaker's. Make the right judgment and you win. It's as simple as that.
While luck may be a deciding factor in the outcome of any single game, and will inevitably go against you on occasion, it will balance out in the long run. Being a consistent winner in the area of sport wager is not about luck but whether you are prepared to invest the time and effort to become knowledgeable about the sports you bet on, whether you can weigh all the factors in a cool, objective fashion, and whether you adopt a consistent, disciplined, long-term approach to your betting. Do all these and you will come out a winner. Remember, it's you against the oddsmaker, not the bookmaker.
The bookmaker is simply a middle-man who operates on a small profit margin and, ideally he likes to see half the money wagered on one team and half on the other, assuring him of a profit. If too much of the money goes on one team, the bookmaker will move the line or pointspread to encourage bets on the other team in an effort to balance his book. The person you are attempting to beat is the oddsmaker and his views on each team's chances. Just by flipping a coin you will be right 50 percent of the time. At odds of 10/11 only 52.4 percent of your bets have to win for you to overcome the bookmaker's profit and break even, so you only need a very small edge to become a winner. Do your homework and bet selectively. 55% winning bets is definitely achievable and 60-65% is a realistic target. At those levels you will have an extremely profitable and enjoyable hobby.
Commonly Used in Sport Wagering
The amount of money being wagered on a game.
A hard loss.
A person or organization that sets the lines and books the bets in sports.
The amount of money the player plans to gamble.
A messenger bettor. Someone who places bets on behalf of another person so that the bookmakers will not know the identity of the actual bettor.
A $100 wager.
The team favored to win.
A person who usually wagers on the favored teams. A.K.A Favorite Freddie, chalk eater
A game where the betting action is severely limited due to uncertainties about key injuries, inclement weather conditions, or unsubstantiated rumors regarding a team.
To win by more than the pointspread.
A compulsive gambler.
A $1000 wager.
The underdog in any betting proposition. A.K.A. Puppy
A person who usually bets on the underdog.
A $100 wager.
A wager twice the amount of one's normal wager.
The practical hold percentage
A wager on which the odds are 1-1.
A bet other than a straight bet or parlay
The amount of money the house will risk losing on a game or race.
The amount of money the house theoretically stands to lose on a game or race.
Amount of money owed to or by a bookmaker.
Wagering huge sums of money.
An annoying person who wants something for nothing. One who expects to be comped for a $2 wager.
The performance expected of a team according to how they look on paper.
Bets accepted well in advance of the events.
Making a bet.
Losing a bet or bets.
The amount of winnings before subtracting the expenses.