>> THE BASICS OF SPORTS BETTING & SPORTSBOOKS

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>> Some Basic Principles of Sports Betting

Having a bet riding on your favorite team adds an entirely new level of excitement and can make watching a sporting event even more fun and intense. Just be sure you keep the amounts of your wagers within the limits of what you're able to pay, for the added excitement. Don't bet more than you can comfortably afford to lose and you should never wager any amount that would change your lifestyle - whether you win or lose!

If you're reading this booklet, odds are very good that you enjoy sports. You probably read your newspaper's sports section before any other section, and may have been saving baseball cards since you were seven years old. In all those years, you've probably gathered more information about sports teams and individual players than you could fit in a library and may have forgotten more stuff about sports than most people will ever know. By applying self-discipline, logic, and time to your sports acumen, you can develop into a pretty good sports handicapper and turn a lifelong interest into an occasional moneymaker. You already know how the sports books make their money; now it's time to find out how you can make yours!

>> For Fun or Profit

The first point we want to stress is realizing the difference between wagering for fun and wagering for profit. If all you want to do is make some bets to add some excitement to the games you watch on TV, that's fine. But if you're wagering to make money, you must be selective about the games you bet on. To be a winner, you have to carefully weigh the all of the variables of the games that interest you, and then choose the select few bets that offer real winning potential because of the odds offered or the point-spread available.

If you bet multiple games at the same time, you must be able to handle the risk of losing all your bets. Never count on winning any of them- no matter how certain you are of your predictions. For example, if you can't afford to lose more than $230, don't bet $110 each on your football games that will be played at the same time. You might think the worst that can happen is you'll lose three and win one, for a net loss of $230, but you must accept the possibility that you could go zero for four and lose the whole $440.

Also consider whether you will be augmenting your betting bankroll during the season. If not, don't risk so much money in one week that losing every game that week will knock you out of action for the entire season.

>> Do Your Homework

Which leads to point number two: take the time to do your homework. You know how to read the sports section - you've been doing it for years. You can recite team and player statistics, and you know who's out for the season and who's just about to come off the injured list. You know the strengths and weaknesses of your favorite teams, who the best rookies are, and what their roles are. Before you get ready to make your picks, put it all together in your final analysis. Do what the pros do: check the weather conditions where the game will be played, check the home team advantage, and see if there is any late-breaking information like injuries or suspensions to key personnel.

You've seen it happen time and again: any of these conditions can turn the tide against the assumed favorite. Do your homework and try to get an edge on the linemakers by finding their mistakes. Use all the up-to-the-minute information available in most local newspapers and on sports news and radio shows, all of which provide great insight and information from ex-coaches, players, and sportscasters.

>> Do as the Pro's Do

Point number three: crunch your own numbers! Don't leave the oddsmaking up to the pros. Do as the pro's do. You can easily take the season-to-date statistics that are posted in your local paper's sports section as well as the current standings and start to form your own set of power ratings. Watch the statistics for a couple of weeks, making adjustments on a daily basis as game results and other pertinent information comes in. Compare your numbers with lines that your local newspaper offers. Use your analysis to draw your own conclusions and find the value in the wagers offered. Once you've fine-tuned your ratings to the point that you're relatively comfortable with them, start looking for some spots to play. Most odds will be right on the money and not worth giving or taking. You'll occasionally find some that you don't agree with, maybe there's something you know about the game that the linemakers may have overlooked. Step up to the plate. This is the opportunity to put your time and effort and number crunching to the test. Recognize the games that you disagree with, as the betting opportunities that you've been looking for. When you find them, be mindful that these games are the ones to focus on.

Each individual sport offers unique challenges and betting opportunities during the long course of a season. From the first game of preseason and throughout the playoffs, those opportunities will be numerous. Let's take a look at each of the major sports individually.

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