Get Serious About Sports Betting! Tips & Strategy to Win Your Sports Bets

[00:01] You want to learn how to make money betting on sports. Guess what? Lots of people want to learn how to make money betting on sports. The good news is, waitandtalk.com's got you covered. I'm Ted Sevransky, Teddy Covers. This is

[00:14] Ross Benjamin, and today we're going to talk to you about the basic strategies for actually making money betting on sports. Not just being in action, but being in action profitably. Cuz Ross, we were talking just off air a minute ago,

[00:29] the action.'" It's a lot more fun to win when you like the action. Then it's just, "Oh, yeah, it's fun to lose." No, it's a lot more what's our what's our strategy number

[00:42] Teddy. You know, I mean, when people tell me, yeah, not to be redundant, but when people tell me, "Ross, you know, I'm not like you. I'm just doing it for fun." Look, it's never fun losing money, people. So, let's talk about a couple

[00:56] different areas on what I think and what Teddy thinks and how we make a living betting on sports, but it's not that simple as it seems. You have to break it down into segments. Let's start with money management. Okay, when I say money

[01:10] management, the first thing we need to do is establish a sports betting bankroll. And when I say sports betting bankroll, I'm not talking about your kids' tuition fund. I'm not talking about your daily nut to cover all the

[01:24] household bills. I'm talking about money that in the worst-case scenario, if you lost it all, is it going to change the quality of your life. Okay, now we got going to do, once we establish that bankroll, we're going to decide what

[01:40] percentage of the bankroll do we bet on every individual play. And my suggestion, or how I do things anyway, I never exceed 5% never exceed 5% on any bet of my entire bankroll. And

[01:54] more times than not, I'm in the 3% so anywhere from 3 to 5% similar to what we do at wagertalk.com where we rank rate our plays 3% 4% 5%

[02:07] it's basically what I do when it comes to money management and your 5% plays should be your absolute strongest plays obviously and you shouldn't be using a lot of those. So that's a starter money management staying disciplined within

[02:22] that money management system. I mean a lot of people raise your hand if you have at some time or another uh chased when you were down and got out of this money management system or got

[02:36] cocky when you're winning. Now if you haven't raised your hand it down because you're a liar because everybody's been guilty of that at some point when it comes to sports betting. So again, those are some of the

[02:51] early starting points that you need to establish before we even get into strategy. Get your bankroll, establish it, stay within the 3 to 5% range, never exceed 5% on anyone bet and you're off to a

[03:06] good start there and stay disciplined folks because folks because look, it only takes 52.3 .38% to make a profit based on 110 to win

[03:18] 100. So I'm not saying we should shoot for that bare minimum but what I'm saying is that's where your profit you make a profit starting at 52.38% have a lot of ups and downs and you're going to be tempted to chase when you're

[03:35] down and get out of the discipline of this money management system and you're also going to be tempted to bet more money when you're up and thinking you're invincible. So Teddy uh those are some of the basics I use when it comes to

[03:49] money management. What about yourself? So I have an right here in that I have summer. He just turned 21 and he's just betting on sports now for the first time. So,

[04:02] him have been running around town Uh and he's doing it for the first time. So, a lot of these lessons you're talking about are reinforced in my mind just because I've been talking with a

[04:15] who's doing this for the first time in his life. And what advice do I give him? And the first thing you said in my mind is the single most important thing that you're going to hear on any of these videos.

[04:29] Establish your bankroll. Separate your bankroll from your other expenses. So, internship, he came out with some money. I'm like, "Okay, we need to put First, All right? How much of this you planning on risking over the course of summer?"

[04:44] roulette, and all the all the all the stuff he wants to try the table games or whatever. How much is your gambling bankroll? And then out of your gambling how much of that are we going to put in the sports betting specifically?

[04:58] So, once we have the sports betting bankroll established, the next thing we did was open up a bunch of accounts. We took it, we split That's one of the advantage of being in Las Vegas that you have a lot of

[05:10] Las Vegas that you have a lot of options. But, at each of five different amount. You know, let's just say it was $1,000, we put 200, 200, 200 in in the five different accounts. And now he's got five apps on his phone

[05:23] where he can shop around for the best number every day. They're all funded. number every day. They're all funded. And he's separated his sports betting If you're talking about, "Oh, I'm going to bet this, then I'm going to pay rent,

[05:36] I'm going to go out to eat." That's not how you're going to grow your bankroll. That's not how you're going to make a living betting on sports. To separate, specifically isolate, this is the money

[05:48] that I have for sports betting. This is my bankroll. to suck it out. You're going to let it grow. you're not going to be crushed. You're going to be able to replenish it at some

[06:02] point. But, that concept of I'm going to separate my bankroll from everything else in my life is the most important piece of advice really learn how to make a living betting on sports. What's number two,

[06:16] Ross? >> Number two is I've been saying this for a long time, ever since I've been at WagerTalk and before, anybody who would listen to me. If you think like an oddsmaker,

[06:28] you're going to be one step ahead of the average Joe. What do I mean by that? Well, how many times have you looked at an opening line, or even a line in the middle of the week, and say, "Why is such-and-such team favored by only this

[06:43] such-and-such team favored by only this over a team they look to be vastly superior to?" Well, there's always a reason, folks. Okay? So, if you uh again, if you think like an oddsmaker, there's got to be a good reason why they

[06:58] set the line where they did. And remember, when it comes to sports true, more times than not, it is. Okay? And you know, I think a big fault, other than improper

[07:13] money management that sports bettors do, is they have short-term memories. So, football, they see what happened the week before, and they react the following week. And believe me when I tell you, and Teddy I

[07:27] think will uh testify to this, oddsmakers, part of the reason why they set a line where they set it, a very small part, is they are anticipating what public perception is based on what they saw the week

[07:41] is based on what they saw the week before. So, don't overreact to what you saw the week before and uh have you know, the short-term memory does not um does not work in sports betting, folks. You have to treat every single week when

[07:55] it comes to the football season like it's own separate entity. And when you do that and you think like an oddsmaker, you're going to be able to spot stuff that looks a little bit fishy. And when things look a little fishy to me, Teddy,

[08:09] man, am I contrarian mindset [clears throat] certainly kicks in. What >> Sure. So, this is a really important thing that uh concept that we have to mention right here, right now. Point spreads, money lines, all of it.

[08:24] It's not set to beat the public. They expect, over the long term, the public wins one week or the next week, they'll give it back another week. The numbers are set to beat wise guys. They're not worried about public

[08:38] week or they're bad week for public bettors, it's okay. The books will survive. They could have a bad month against public bettors because in general, the public ends up giving that money back. So, then

[08:52] the point spreads, the money lines, they're all set to beat wise guys. bettors. The other thing that I really want to what the start thinking like a bookmaker.

[09:04] as I when I when I first moved out to I'm like, I have to do this to be successful. started making my own numbers. And the first year I did it, I was

[09:18] useless. I couldn't make a good number, you know, I didn't know. I didn't But if you do it and you adjust What you have to do is you have to adjust based on the stats, based on the way the

[09:30] not going to have great numbers. Not in any sport that you do. But by year two, my numbers were okay. sometimes when I my number said this and the the

[09:44] the book said this number, sometimes I bet my number and sometimes it would I'm like, I'm doing something proper. So, the number one piece of advice I can get I can give you for this portion of the equation,

[09:58] just start making numbers. Start power rating teams and I've got videos on how going to go into detail in this video right now, but just start and

[10:11] give it 6 months. Give it a year. You get better. Don't expect the initial numbers to be great, but that's how you get from here to there. That's how you go from being a recreational better to actually being a wise guy and be able to

[10:25] realistically have a chance to make money betting on sports. >> Exactly. And you know, the other thing too, Teddy, I don't know how many times I've heard people go, "I make a pick. One of my clients gets back to me via

[10:39] email or text, whatever the case may be, and say, 'Ross, did you know that so-and-so is out for Detroit or so-and-so is out for New England?'" Well, folks, if we know about it, the oddsmakers

[10:53] oddsmakers knew about it yesterday, okay? So, it's all factored into the line. I heard you talking about this before on one of your other segments, Teddy, and it really my antennas went up because it's one of

[11:06] the sensitive topics for me. I have very little tolerance of people bringing to my attention who's out for specific teams. Now, weather's another story. Weather, again, it's all factored into

[11:19] but weather affects totals more than anything else. Sure. You know what I mean? So, weather you should always account for weather, but not fully or overcompensate for it because, again, if we know about bad weather, if

[11:34] we know about windy conditions, if we know about snowy conditions, the the oddsmakers do as well, folks. So, don't overreact. And the other two two other we'll get to your your thoughts.

[11:48] >> I appreciate that, you know. Um in any event, um the other two things that I did want to mention is uh again, I touched upon this earlier, don't overcompensate too much. If you have a successful betting run over a

[12:05] course of a couple years. Now, Teddy mentioned mentioned you establish some some betting methods, you test them over time, and when you have a decent enough sample size and

[12:17] something, okay? Now, along the way, no matter how Look, we've been doing this for many, many years, and we go through We talked about this the other day, the down streaks we had in the NBA playoffs this year. Okay?

[12:32] There's going to be ups and downs. And what I would suggest, folks, tweaking your process or methods is okay, but slight tweaks. Don't panic when you lose, okay? Because you've already proven by doing what you're doing over

[12:47] the years, it's made you a profit. And uh that'll And don't get overconfident as well. Uh you finished number one in college football like I did last year. I don't think I'm invincible because on the site, there's 35 other pros that are

[13:03] very, very good and they're for a reason. And don't think they're going to lay down the following year because I went number one. My point being is overconfidence can be your own worst enemy when it comes to sports betting.

[13:16] talk about is the the one that always says, "I'm never betting on whatever team again. Oh, they burned me. I'm never betting on that team again." It's literally is the next game after they burned you cuz that's where the value

[13:28] is. So, you know, those those are very typical type of comments for Professional bettors know, hey, if the line is right, I don't care if this team coach. I don't care if I hate that player.

[13:43] I'll bet them again and I'll bet them again even after just getting burned by good as they look on their best days. No teams ever as bad as they look on their worst days. So, one point that I want to talk about

[13:57] players. Most recreational bettors, most casual players. This guy's out. That guy's in. That guy's out there. sports full-time, that actually make money, that make their living betting on

[14:12] they can't name players. They're not really worried about this guy how matches this guy matches up with that guy. Uh they're worried about what what are the fundamentals for their opposing team and not, oh, this is a

[14:26] match-up problem for team A or team B. So, wise guys don't know players. You coach. And yet, they make money One last thing I want to talk about, you talked about weather. And weather, when

[14:41] it certainly for football betting, is a huge piece of the equation equation equation equation. It's a huge piece of the equation. When you're betting on weather, I'm going to say one thing. Bet early in the week. All right. Bet

[14:55] the forecast, not the actual, you know, game day scenario. If you want to bet, sell on the news. This is bet on the forecast on Sunday, you know, when the weather comes and and then worry about what you're going to do with that that

[15:09] 6 days later. So, >> a good point because if you bet on the weather forecast, for example, on a Sunday night for the following Saturday college football card or or or following

[15:23] Sunday NFL card, uh you could always come back the other way if the weather forecast doesn't come true. So, you could you know, again, you What Teddy's trying to say is if the weather forecast is accurate, we all know about weather

[15:37] forecast, right folks? But if the weather forecast is accurate, especially If they're they're talking about 30 to talking about a lot of snow, a lot of rain,

[15:49] um if they're accurate, you're getting one step ahead of the curve and you're getting a favorable number by betting early. Uh and especially I and again, Teddy, correct me if I'm wrong, a lot of

[16:02] does sides. talking about and and if if if you're talking about sides, it has to do with a handicap. If one team is a pass-heavy team and it's a windy day and

[16:15] work, then you say, all right, maybe this uh this is a situation to fade that squad. But by and large, when you're conditions, you're going to see money coming for the unders. And if you're

[16:28] bet them sooner. Sunday night, Monday morning as opposed to waiting until the following Sunday or or the following weekend to get those bets down. >> And remember, folks, we're out to beat a

[16:41] If you want to get so involved with players and and players only, then you should be betting fantasy, okay? Or props, one or the two. I don't know about Teddy, but yeah, key injuries you take into

[16:55] account, but I'm out to beat a number, you know? And and I think you touched >> And the key injuries, you have to remember, it's not about the player that got hurt, it's about his replacement. How good his replacement is. How much do

[17:08] the other players on the team step up when their star goes down? How much does to face so-and-so today. We uh we're there." And there's a exhale moment there. So, you know, often times you see the biggest line moves for players and

[17:22] >> doesn't really affect anything. >> in the NBA, I have noticed over the >> in the NBA, I have noticed over the years that when you lose a key player for an extended period of time, in the short term, it seems like the um other

[17:36] >> Sure. >> The supporting members step up in in the short term. But over the long haul, it's going to affect it more over the long haul. But be real wary uh about lines

[17:48] that get put out uh for teams that lost, for example, uh I don't know when the Bulls had Michael Jordan, okay? Um how many points is he worth in a game? Probably three and a half to four points in an NBA line. Um and uh you know, if

[18:02] he's out, uh there's a good chance that somebody's supporting cast will step up and provide uh proper production in his absence. >> Well, before we start talking about

[18:14] members and uh and supporting members, uh >> let We got to go now, Ross, okay? Because we're we're not uh I'm not going to support my member with uh

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