What are the Best Sports to Bet on Today? This question can be approached for discussion from so many different angles depending upon so many things. However, the main considerations to figure out the best sports to bet on would be your level of interest. Also, knowledge about the game and expertise in placing bets on online sports gambling events matters, too.
The Evolution of Sports Betting
Although betting on sports results has existed for a long time in many societies, it could be argued that its development has mirrored that of organized professional sports. In its basic form sports betting is usually conducted at the venue of the event itself, and thus it has a regional savor. That’s the way horse racing betting evolved in the UK in the late nineteenth century, and cockfighting is still conducted in many countries around the world. The advent of newspapers first, and TV a few decades later, enabled people to place bets on the final outcome of many events taking place throughout the world. Some countries introduced legislation in order to regulate a growing industry, while some other countries completely banned sports betting. Even in those countries where sports betting is allowed, although a special government license is typically required to own and operate a sports betting business.
The twentieth century also saw the rapid development of several professional and nonprofessional sports leagues. In North America the most notable examples are USA sports: (NFL American football), the NBA (professional basketball), MLB (baseball), NHL (ice hockey), and even the NCAA (university-level sports).
Many of the top European football leagues have also grown significantly, such as Spanish La Liga, Italian Serie A, German Bundesliga, English Premier League and French Ligue 1 (France), along with Europe-wide competitions and leagues such as the UEFA Champions League. Some sports developed a series of international competitions that attract large crowds. Tennis features four yearly Grand Slams, rugby has a World Cup, the Six Nations Championship, and the Continental Nations Cup. Surprisingly, cricket went as far as to introduce new competition formats, such as One Day Internationals (ODIs) and Twenty20, to attract larger audiences. As a result there’s a large number of sporting events going on all over the world all year-round, catering to many different tastes.
Online Sports Betting
The final stage of sports betting evolution came into place with the arrival of online gambling introducing some of the best sports to bet on today. Before online betting and gambling arrived bookmakers offered odds on a relatively small number of events and markets, catering to the largest possible audience. For example, in the UK, betting was mostly focused on horse racing and football. Additionally, the bookmaker usually offered a handful of options for each sporting event. For example, for a regular football match a bettor could only try to predict the match winner, total goals (over or under a certain threshold), and sometimes the halftime/fulltime combined outcome.
Best Sports to Bet on Today
Since, there are so many types of events featuring different sports for placing bets, it is very important that you choose the sports to be on according to your interest in the sport. This consideration generally overrules all other considerations. It is important to know that many bettors place bets blindly on sports which they don’t watch or follow in the news. Therefore, making uninformed sport bet predictions will not give the desired results. Past results have shown that majority of online sports betting players, who are successful, place bets on those sporting events which they enjoy the most. Also, they actively follow these events by choice which makes them feeling confident and updated for placing bets.
Among other things that can help you identifying the best sports to bet on today are the sports with the lowest hold and good odds of wining. It is also important while selecting sports to bet on to keep in mind the expertise of the lines makers for the sport. Equally significant is availability of pertinent sports betting information to lines makers and the general public.
So, what are the Best Sports to Bet on Today?
Betting data identifies the best sports to bet on today
According to data from several reputable bookmakers gathered in the last 10 years, bets placed on races tended to be smaller on average compared to other events. However, those betting on races tended to lose more money per bet, on average, than all other forms of betting apart from mixed bets. This may reflect the interest in race betting as an entertainment activity rather than an expectation of consistent winning or positive returns. In relation to sports betting, bet outlays and outcomes differed between the types of event bet on, indicating that bettors had different betting strategies for different events. Mixed bets placed on multiple sporting events were the least successful, which is not surprising as a greater number of successful predictions are required to win. This may explain the relatively few bets placed on these events and lower bet outlay compared to other sports.
Football bets were on average significantly smaller and less successful than bets placed on non-football ball sports. Football, Rugby League, and Australian Rules games appear to be particularly difficult to predict, judging from the lower returns. In contrast, bets on Rugby Union, had a positive return on average, although over half still resulted in losses, perhaps suggesting that some astute customers were able to identify more favourable odds for rugby union matches and subsequently won large amounts, impacting the overall average results. An alternative explanation may be that events in which outcomes are more difficult to pick have less favourable odds, given no clear likely winner, resulting in a lower proportion of returns. Given the absence of prior studies examining types of bets made on sports events and the outcomes of these, including the motivations of bettors, interpretation of these results requires some caution until further research can be conducted.
Less popular events attract professional bettors
Similar to the outcome of more specialised racing bet types, bets placed on less popular events, in example, other ball sports, were the most successful. Bets placed on basketball, baseball, and ice hockey had a lower proportion of losses than football bets. Similarly, tennis, basketball, cricket and ice hockey bets had the greatest average returns (not including rugby union and other ball sports), although these were still losses on average. However, there was also relatively high variability in results indicating that the outcomes of bets on these events are not consistent. Because betting on these events is less popular, these events may be subject to less scrutiny and research by the bookmaker. This may assist some customers who are more sophisticated bettors and have greater knowledge or ability to find favourable odds as compared to the majority of customers who may give less consideration to their bet.
Of interest, the more specific handicap and total bets were placed by small number of bettors, but these represented the largest average bets and the greatest return to players, although there was also large variation in these results. On average, half of the place and handicap bets made resulted in wins, in contrast to all other types of bets. These results are quite remarkable as they suggest that it is possible for bettors to come out ahead. Players who made these types of bets may have greater knowledge and understanding of specific sports and the factors that affect outcomes and subsequently be more successful with their bet.
The sports bettor may pick between the different outcomes, which are specific to every sport: the match winner in tennis (two outcomes), the result of a soccer game (three-way result as draws are possible) or first place of a horse race (many possible outcomes). However, the probabilities for all of the possible results are not precisely known, so the bookmaker has to come up with its own estimate for them. It will then offer payouts according to those estimates, but moderately adjusting them down for every game to provide the bookmaker edge. The goal for the bookmaker is to manage its payout liabilities accordingly so that it secures a profit regardless of the final result of the sports game. Again, this difference is the bookmaker’s edge over the bettor and provides the expected profit after a series of sports games.
Bookmakers seldom use mathematical modelling to set prices, rather relying on a combination of knowledge, experience and intuition. Because the economic livelihood of a bookmaker is dependent upon the accuracy in which he sets prices, to stay in business, a bookmaker must be good at what he does.
When the bookmaker offers odds on a particular market, it is implicitly making estimates of the probabilities for the different outcomes. It is possible that the bookmaker might make inaccurate probability estimates for some markets. If a bettor can identify incorrectly assessed markets it may then be possible to turn sports gambling into a positive expected value activity.
Focus on risk management, not picking winners!
A common error amongst people who are new to sports betting, and one shared by those who are less successful at it, is putting their primary focus on picking winners. The key focus of those who have enjoyed long-term success in betting, on the other hand, is on managing their risk and controlling losses. The temptation and attraction of sports betting to most players is, of course, making money.
To achieve this outcome it seems obvious that the key is picking as many winning bets as possible. But this is to mistake wishful thinking for common sense. Clearly, you need an ‘edge’ – a well researched, plausible strategy or
positive expectation behind each bet. However, you need to be aware of your own fallibility and the law of averages. Since you cannot always win, even with the sharpest betting approach, you need to deal with risk and losses with ruthlessness and speed. By learning to manage risk and control losses as a priority, you create longevity. You also make your betting a continual learning process for yourself. This keeps you in the game and keeps you improving.
One of the most important factors in achieving and sustaining success in betting is understanding and accepting that you are responsible for your results. The results that you get in your betting are created by you. Knowledge is power when it comes to sports betting. The best sport to bet on today simply lies within your personal knowledge and skill. Your final step is to create and develop your winning mindset. This requires you firstly to want to change and then to have a process to actively adopt the ways of thinking of a successful and profitable person; noticing your thoughts, to be aware of when your thinking is limiting you, and to change your thoughts to more empowering ones.