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Sports betting is one of the handiest ways for many to make an extra buck while having fun. After all, aren’t we all sports fans and maniacs in some ways? The biggest mistake a recreational sports bettor can commit though, is to assume that the simple fact that he/she has been following a sport he/she feels strongly about, and that he/she knows a lot about that given sport indeed, enables him/her to be successful at betting on that sport. Knowing the game is one thing, betting on it is quite another. That is not to say you can’t bet on your favorite sport as a pastime, but if you intend to make money at it, simply going with your favorite team all the time won’t really cut it.
Successful sports betting is an intricate business. I’m quite sure you’ve heard about handicapping. Handicapping helps players better approximate the likely outcome of a game, taking factual statistics into account. Handicapping in itself is an industry these days, especially online handicapping. I’m also quite sure that when it comes to your team (regardless of whether you’re a homer or not), you think you’re a pretty good handicapper, don’t you? Well, you’re probably not. A good sports bettor cannot pledge loyalty to any of the teams involved. He needs to keep an emotional distance from all parties involved, so he can be objective in his handicapping. Another thing a good sports bettor needs to be adept at is reverse handicapping. Reverse handicapping is about taking a long hard look at the match-up and the lines involved, through the perspective of the bookmaker, who creates those lines. This is where you need to have some inside knowledge on how the bookie operates. Here are a few pointers in this respect:
The bookmaker’s goal is to balance each and every match-up it offers through his lines. If – according to his handicapping – a team is more likely to win, he’ll move the spread in favor of the other team to make both sides of the bet look attractive for the public. He needs to do that in order to attract an approximately equal number of bettors onto both sides of the match-up. That way, he’ll be able to make some clean profits, as he’ll use the money lost by the losers to pay the winners and he’ll retain the vig. The wig is like the poker rake taken by online poker operators. Sounds like an ideal setup doesn’t it? The only problem is, that unlike the poker rake, the vig is not guaranteed. Sometimes, in spite of the bookie’s efforts, one side of the match-up will attract a disproportionally high number of bettors, turning the whole deal upside down. In such cases, the bookie has two options. The riskier option is to cover those extra bets from his own pockets. If the squares (those who flock onto one side of the match-up) win though, that can pretty much break the bookie as he’ll have to pay a bunch of winners out from his own pockets.
The other option is to induce undue value into the other side of the match-up in an attempt to re-establish the balance. It is this undue value that sharp sports bettors like to take advantage of. This way, the proposition, which carries a negative long term EV otherwise, turns into a positive EV one. This value is known as the hidden value, of which I’m fairly sure you’ve already heard. As you can see, it takes quite a bit to turn an EV- proposition into an EV+ one in sports betting. Still think your handicapping is good enough?
June 18th, 2010 11:23:16 AM UTC | Posted in The Basics by admin | 1 Comment
It can be very hard for beginners to play medium pairs when playing No Limit Holdem. Medium pairs from 2 7’s to 2 Jacks can be tough to play and you need to have some good judgment when you are dealt them.
If you are dealt a high pair you will want to raise when it is your time to act. If you have a pair of Jacks or 10’s you do not want to let an opponent into the pot for nothing, as low limit poker players will limp into pots with an Ace or King high hand. You do not want to let opponents with these types of hands into the pot cheaply, which will give their over card they have a legit chance to beat your hand.
Usually if you have a medium pair it may not be a good idea to re-raise, but beginner players will often call a re-raise if they are not in position with a medium pair after they have raised before the flop. So now you are in a pot that has been re-raised and an opponent has position. Medium hands should not be re-raised by you because if you are behind, a flop set will have to come out..
Conversely, when you are in position on another player who has raised it may be a good idea to re-raise them if you hold a pair of Jacks or 10’s so you can be the one who has control of that hand. Generally this will make opponents check to you on the flop. If the flop comes out and they are all over cards it may be a good idea to check rather then bet so you do not have to risk being check raised. You have to be cautious when the flop has an over pair when you have a medium pair because if an opponents acts big there is a legit chance the one pair you have is not good, even if it is the case that it is bigger then any card that is showing on the board.
It may seem like the opposite, but lower medium pairs are actually easier to play. Basically, with a lower medium pair you will try to hit a set with the flop. Generally it is not a good idea to raise with a pair of 7’s through 9’s, unless you are either in the middle or late table position. Just like with higher medium pairs a lower medium pair will not stand to be re-raised. If you are sitting in early position there are a lot of players left to act and they can re-raise you because of the hand they are holding or their position. Because of this you will not know where you stand in the hand when the flop comes out.
If you are playing heads up you should raise all medium pairs. Medium pairs are not easy to play, as many times you will not hit a set when the flop comes out. A so-so flop when you have a medium pair would be a straight draw that is open ended. In this certain situation you have to know that if the turn comes out and you hit your set there are still 4 cards to hit a straight that is still showing on the board. If you hit a straight with your hand it will not be the hand that is the nuts.
Basically, never over-value a medium pair, as you have to be careful when you play them, as they get beat often with all the high cards still out there.
May 23rd, 2009 11:33:55 AM UTC | Posted in Poker, Strategies, The Basics, Tips and Tricks by Jason Green | No Comments
When you just learn to play Texas Holdem you should not play decent hands, but only strong ones. Playing good starting hands is important when you are a beginner. Playing too many hands is, by far, the biggest mistake that new players make when they are just starting out. By only playing solid starting hands it will make it less likely that you will lose a lot of dough. Sure, you will not win as much since you will be throwing away a lot of cards, but you will not lose big pots by only playing hands that are decent. When you get a feel for the game and really know how to play it, you can then begin to play decent hands. There are really three times when you should play only decent hands, which are when you are in position, if your opponents are playing tight, and to change your table image.
Being in Position
Obviously, it is important that you know how the position has an effect on how you play your hand. If you are sitting in a late position then it is much better to play a decent hand. You will be able to see how the players acting before you play and there is also a better chance that nobody will raise you since there are fewer of your opponents to act after you. Also, you are in a better position to win the pot and manipulate how your opponents bet if you do hit a killer hand. If nobody has made any big bets before you can play a decent hand, but it will all depend on the action that happens before you.
Playing Against Tight Opponents
If your opponents at the table, or virtual felt, are playing very tight it may be a good idea to get a little more aggressive by playing more hands. Considering that playing tight usually means that your opponents will only act on solid starting hands, they may not fold a lot and not see the flop if you are a little more aggressive, i.e. playing decent starting hands as well as strong ones. If you hide a stellar hand you hit, any opponents still in the hand will, more than likely, have a good hand and they will lose to your killer hand. If you are playing against tight opponents be wary when they bet and calculate the outs you have when your starting hand is only a decent one.
Changing Your Table Image
You do not want to be seen as a one-dimensional player that only plays one way. If your opponents see you are a tight player you may not see a lot of action because of it. By playing a few decent to semi-decent hands it will show the other players that you are not just playing killer hands and they will be more wary of you. If you want to change your image by playing a few decent hands do not do it when there is a ton of money in the pot, as it may cost you. Choose the hands where it will not cost you a lot if you lose.
April 20th, 2009 9:00:00 AM UTC | Posted in Poker, Strategies, The Basics, Tips and Tricks by Jason Green | No Comments
It is important that you use solid money management when playing Blackjack. If you do so you will still be able to ride out a streak of losing hands. If you use proper Blackjack money management you will not win every hand but you can lower the house edge and put yourself in a better situation to win.
Two mistakes that players often make are not having a big enough bankroll for the table they are playing at and over betting. Your Blackjack bankroll has to be big enough to withstand cold streaks. Hey, it is gambling and you will run into cold streaks. Make sure you have enough dough to ride out the streak until you start winning again. Remember never to hedge your bets, but we will touch on that later.
If you over-bet you will win more if you are winning but you will also lose more when you are losing. If you hit a cold streak you can lose all of your money pretty quick. To keep from over-betting a good idea is for you to have 30 bets every time you sit down at the table. For example, if you are playing on a $10 table you should have $300. You should also bet within your means, which is basically saying you should not be playing at $10 tables if your bankroll is only $50.
You have to have some discipline when you play Blackjack, as you need to know when to get up and quit playing. A winning player knows when to get up and many times they will do so after modest winnings. But, they did leave the table with more then they came with, which is always a good thing. To be a winning Blackjack player you have to know how to maximize the money you win at the table and minimize the money you lose there. It may be a good time to get up from a table, or leave the online Blackjack room, when other players do not know the game and are throwing off your strategy, when you lose your cool and are too emotional, and you go away from the basic Blackjack strategy because you are losing. Playing against Blackjack players that do not know the game can be frustrating and if they are frustrating you find another table. Loosing your cool at the Blackjack table can only lead to bad decision-making. The basic Blackjack strategy will pay off in the long run, so do not deviate from it when you hit a cold streak.
If you hit a hot streak while playing Blackjack and want to move up in bet amounts only increase the bet amounts in smaller increments. Don’t go right from $5 bets to $25 dollar bets just because you are hot. Go ahead and ride the streak, but do not go overboard with your betting.
Now we come to the biggest money management mistake that Blackjack players, and gamblers in general, make, which is hedging bets. Hedging bets is betting more after you have lost a few hands. This is also called chasing bets. Hedging bets is the quickest way to drain your bankroll. If you hit a cold streak never increase your bet amount simply to win that money you lost back. The best way to win your money back is to chip away at your losses rather than going for it all in one shot. Sure, you may win a hand, but if you lose you will be sorry. For example, let’s say you lost 5 hands in a row at $10 a pop. You are down $50. Don’t make one bet of $50 or two bets with $25, as you can get in over your head and lose a significant amount pretty quick.
If you follow these easy to follow tips you can effectively use Blackjack money management to your advantage.
April 15th, 2009 7:44:10 AM UTC | Posted in Casino, Strategies, The Basics, Tips and Tricks by Jason Green | 1 Comment
Obviously it goes without saying that the goal of gambling online is winning money. Sure, there is free play for fun, but the real fun comes with winning some decent green when on the virtual felt. The best way to do this is to make smart bets and do not go overboard, as it will cause you to lose your bankroll quickly. Here are a few tips that deal with the betting aspect that you can use in order to increase your chances of ending with more money then you started with.
1. Never bet more then you allotted to play with. Before you deposit money into you account with the online casino you decide to play at, you should think ahead of how much you can wager, i.e. afford to lose, and stick firmly to that allotted amount. If you put $50 in your account only play with $50. Online casinos make it attractive to reload your account with bonuses, but if you pass your limit is a good idea to quit. Chasing or hedging your bets in order to win back the money lost is the easiest way to lose a significant amount of dough.
2. Try not to bet with your payouts. If you win money it is a payout and it is smart to set those winnings aside, so even if you lose the rest of your bankroll you will at least have some money and you may even break even or make a profit. For example, if you have $50 to play with and win $80 and then go on to lose it all, you have lost $80, which is more the limit you made for yourself. It may seem like it is not a lot of money, but it does add up and if you are smart and know when to say when, you can walk away with some cash.
3. Only reload your online account one time per gambling session. If you have a set amount of what you will play with that is the amount you should put in your account. Many people will put more in their account and then come up with an amount to play with below that amount, but it is very hard to quit, especially when you are down. You will never lose more than your allotted amount if you only reload your account one time and for the amount you can afford to lose.
4. Always avoid impulse bets and ones that you have a bad feeling about. Many times impulse bets are made to try to win back losses quickly. Again, hedging or chasing bets is the easiest way to lose money gambling. If you feel bad about a certain bet stay away from it and wait out the hand, spin, or roll of the dice. Your intuition may be correct and you will feel terrible and tell yourself, “I told you so.” Trust me it will feel worse losing a bad feeling bet then winning one.
March 11th, 2009 6:22:29 AM UTC | Posted in The Basics by Jason Green | No Comments
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