"We continue our series on Sports Betting Essentials today with a discussion of the market. Bettors must have a healthy respect for the market if they have any hopes of making big money, or even making living in this field.

Far too many gamblers come into the field overconfident. They assume they know their favorite sport more than anybody else does. They believe they can spot a bad line when they see one. They figure making money is going to be EASY because they’re so darned smart!

Learn this now and don’t ever forget it. Oddsmakers are smart. Sharps are even smarter, which they’ve established over the years by betting at (and therefore improving) the opening lines posted by oddsmakers. If YOU are quick enough to bet the openers, you only have to be better than the oddsmakers (who are already very smart). If you AREN’T quick enough to bet the openers, then you have to be better than the COMBINED knowledge of oddsmakers and sharps!

Maybe you are smarter than your buddies when it comes to football, basketball, or baseball. That’s not the challenge. You need to be better than the market prices on the games. Frankly, there’s no way that’s going to be true over a large sampling of each day’s action. Your best shot is to hone in on the games where you can make an extremely good case that the market has missed…then focus on those. Even then, you’re likely to be disappointed with your early results. Oddsmakers aren’t infallilble, but they know what they’re doing. Sharps miss some games to. They are proven professionals though. Respect for the market will serve you well right out of the gate. And, understanding that “sharps are the smartest sharks in this ocean” can teach you the right way to play and the right teams to play in short order. Those with contempt for the market miss what sharps are teaching. Those with respect for the market will notice that many of the early moves from week to week involve the same teams (find ways to get those teams at value moving forward!). They’ll notice that many of the game-day moves are generated by the much-less informed public (fade those “square” moves and you’ll profit over time!).

Soon, your knowledge of true value in the marketplace will grow exponentially. And, you’ll have a real chance to make a go of it as a sports bettor. If you don’t respect the market, this cannot happen. "









we begin a series today on the true essentials of sports betting. We hope you’ll take notes all through this extended series as we outline what it really takes to make money as a bettor in Las Vegas.

Today, we begin with the three M’s…


MINDSET

You must come into this with the right frame of mind. Don’t expect to make a killing right off the bat. Don’t expect to hit 75% or 80% of your picks. Far too many gamblers have gone broke in short order because they went on tilt when early results didn’t match what they had dreamed would happen. You must have realistic expectations. You must be in it for the long haul rather than a quick hit. You’ve heard the phrase “when cooler heads prevail?” Cooler heads prevail in sports gambling!


MONEY

You must come into this with an adequate bankroll. You have to be able to weather the inevitable ups and downs that come during the course of a season. You must have deep enough pockets to really step in when a big edge presents itself. You have to have enough in the bankroll the horrible luck that can come when that big edge gets spiked by an injury or poor officiating. You’ve heard many casino operators explain that they make extra profits because bettors bust out during their bad streaks and therefore, aren’t around for the bounce back. What’s true in blackjack, roulette, or craps is also true in sports betting. Avoid the risk of ruin!


MOTIVATION

You must come into this with enthusiasm and energy, because edges present themselves seven days a week. If you’re a half-hearted sports bettor, you’ll be a broken-hearted sports bettor in short order! It can be tricky to find the right balance between “a cool head” and “highly motivated.” Have enthusiasm for your game research and line shopping, then stay cool when the games are being played. There are no free lunches. You must be motivated to bring your “A game” every single day.

We’ll discuss more essentials in the coming days in this extended series. But, frankly, if you don’t follow these first three…the rest don’t matter! Have reasonable expectations about the next week, the next month, and the net year; a bankroll that handles the fluctuations that will inevitably come; and a warrior mindset for your daily battles with Vegas oddsmakers. Even if you’re a football only bettor, the upcoming bowls will soon bring you daily battles!