Sports Betting Strategies & Tips

Although luck is a huge part of sports betting, there are different strategies and things to consider researching to try and increase your ‘luck’ in winning. It’s important to understand that with sports betting, there is no ‘secret sauce’ to winning. It is all a guessing game, but placing strategic bets can increase your chances of winning or at the very least limit your losses. 

We at RYP understand betting isn’t for everyone, as giving money to a sportsbook is never fun. At RYP you can play various contests with friends and family which includes picking various markets! 

Create your own pool today and start playing amongst your peers, or join a public pool for free! When you create your own pool, no money goes to the house but to you and your friends instead!

Betting Strategies to Level Up Your Betting Game

Let’s break down some of the various sports betting strategies to consider when wagering on games. 

Lines and Odds Shopping

Perhaps the most important thing for all sports bettors to do is to shop for the best line available. You as a bettor are the customer, so it makes sense to find the best deal on a game you’d like to wager on and understanding what the odds mean. 

If you fancy the Bengals to win a game and find they are listed at -150 with one sportsbook but -130 with another, it makes sense to go with the cheaper -130 price. Line shopping increases the wages’ value, while also protecting the bettor with the best loss limit available should the bet lose. 

Hedging Your Bets

This is not always recommended, but is a possible solution for many bettors. Hedging simply means ‘covering your losses’. This style of betting works best with futures and tournaments, like tennis.

Let’s say a bettor wants to take Novak Djokovic to win Wimbledon with a futures bet at +400, the bettor can then hedge the bet by taking Djokovic’s opponents in single match betting at underdog value. 

Hedging also works best with live betting situations. Let’s say a bettor took the Hawks vs. Kings game to go Over 230 points, but as the game winds down the bettor might not win. If nervous on the outcome, a bettor can wait for the live point total odds to hit 230 before taking the Under. This means the bettor won’t lose any money despite the outcome. A good hedge bet can see a profit however.

If a bettor takes the Hawks-Kings game Over 230 at -110, the bettor already spent $110. If the bettor can get a live line of Under 230 at plus-value or better, then the bettor can hedge the bet to either win back the wagered money or see a profit, depending on the asking moneyline. 

This is not a recommended strategy, but is popular. It’s better to accept losses and move on rather than risk a hedge bet, as timing becomes a factor for live betting hedgers. 

Find Value in Prop Bets

Prop bets are riddled with value, particularly goal scorers. Whether it be football, soccer or hockey the goal scoring prop market typically has plus-value littered throughout. Fantasy sports players also have interest in prop betting, as the game outcome becomes meaningless and the player stats become of utmost importance.

Prop betting is the recommended betting market for those looking to find value in a given game or event. Some sportsbooks allow bettors to now place Same Game Parlays, which might include player props. The more legs on the prop parlay, the greater the value but also the more difficult it becomes to hit. 

Fade The Public

This is not a highly recommended topic to focus on, but bettors do like to fade the public. What does that mean? Basically, when a bettor fades the public that bettor is betting opposite of what the popular majority is betting. 

If 65% of the public is betting on the Steelers to win, a bettor fading the public will take the Browns to win instead. It’s recommended to avoid this because the game outcome doesn’t factor into which way the public is betting, but others do enjoy going against the public which sometimes works in their favor – but is not a guarantee. 

Stick To Your Comfort Sport & Bet Type

It’s okay to only bet one sport if that’s what you’re comfortable with,which includes markets. If you only want to bet prop bets because you’re an excellent fantasy sports player, then do you! Maybe you struggle to pick winners, but are very good at point total betting – that’s okay, stick to totals!

Figuring out what you’re comfortable with, which includes league types, is a big part of sports betting. If you’re comfortable with betting the Academy Awards because you follow movies and don’t care about sports, then stick to the Oscars markets and contests. If you hate hockey then don’t bet on the NHL, but if you love baseball then stick to MLB.

Manage Your Bankroll

This is the single most important sports betting advice, manage your bankroll! Betting is not a race, as the name of the game is more about survival rather than getting to the end line first. The thing is, there is no end line. Yes, you can strike big for a ton of money but it’s not likely and very rare. Also, it’s common to win big and then lose that money on future bets.

Managing your bankroll is crucial and can be done with some simple steps, the first being that as a bettor you must understand this is a marathon and not a sprint. It’s okay to lose a couple of bets as long as you don’t have to deposit more money into your account. 

Always bet what you can afford to lose. It’s advised to start out small, going for $2.50 or $5.00 wins until you have built up roughly $500 or so. Never chase your losses either. If it costs you $2.75 to make a bet and you lose it’s okay, simply make your next bet to win $2.75 or more. Coming off a loss bet, it’s important to understand that your next bet simply needs to bring you back to even, nothing more. 

Tips to Win at Sports Betting

Along with the above strategies, there are more tips to consider when sports betting. 

Do Your Research

Do as much research as you can, preferably with betting stats. Plenty of websites provided betting data such as spread wins-losses, point total over-unders and current streaks. RYP has 15-plus years of betting data for our users to enjoy!

Learn The Point Spread

Look at the point spread of a game as early as you can, because in all likelihood it will change. Jumping on early point spreads is crucial in betting, but can also backfire. Be sure to figure out what the point spread is and then decide if you want to bet it early or wait longer for it to change. 

Set Bettor Goals, Make a Plan and Focus On It

As a bettor, the main goal should be to not run out of money. Again, if you lose a few bets it’s okay as long as you’re not having to buy back in. With the goal being to ‘not have to deposit’ or ‘deposit as few times as possible’, start small before going large.

Focusing on small bets over time will not only see your bankroll increase, but also see your loss limits level out – which should limit depositing as well. This also means making just one bet at a time, which helps limit losses and manage a steady bankroll. 

Why You Should Be Making Strategic Bets

Keeping up to date with sports is crucial with making strategic bets. If a major player gets injured for a team, or a player is suspended because of off-the-field behavior, then it is worth noting when betting on a game. 

A good example is when Novak Djokovic wasn’t allowed to play in the Australian Open. Suddenly, bettors who took Djokovic early got their money back while the odds changed completely for the rest of the field. 

Following the above strategies and tips will allow bettors to easily follow and track their bets and bank accounts. Doing the research is at the bettor’s discretion however, as is the bet being placed. Always remember that you won’t win every bet, and that you and you alone are responsible for your wins and losses. How you limit those losses is what will keep you in the marathon (or not having to deposit frequently) the longest. 

It is also recommended to try RYP pools and contests instead, where the losses go directly to your friends and pool members. Compete against one another instead of a sportsbook, and have fun doing so! Check out some of our popular pools and start running your own today!