The NFL has millions of supporters even outside the US borders. Some people like to take this passion a step further by betting on events as a way to enjoy themselves and test their prediction skills.
However, it’s not something people can just wing. Betting requires strategy and an understanding of some basic rules regarding bookies, statistics, and probabilities.
Statistical Analysis
Betting is mostly about gathering relevant information. Numerous sites specialize in compiling statistics to help bettors be more accurate. When targeting an event, it’s essential to look at the teams’ past performances and individual player statistics, but it’s not enough. Data like suspensions, injuries, and even the weather can influence the outcome of a sports event.
Some of these sites will provide these statistics, and also offer bonuses to add value to the bet for new and recurrent players. We recommend players sign up via Oddschecker to find such platforms and take advantage of one of their promo codes.
Understanding the Teams
Each team is unique in their playing style, and it can change dramatically over the course of a single season. The dynamic between players can change if their relationship becomes less amicable. Moreover, the coaching team can be fired, and bringing in a new coach can mean different game play.
There are factors outside the inner workings of the team. A team can have a history of rivalry with another, and their games will be affected. Furthermore, players get drafted during the off-season, and when they meet their former team, it can be an additional motivation to play more aggressively and win, depending on how things ended.
So, it’s an excellent idea to follow media events around specific teams, like those in the Big Ten conference. It’s possible to gain precious insights about any significant change for the upcoming season.
Risk Management
Once the bettor knows all about the NFL, or at least has enough knowledge to target relevant games, he must also learn about risk management. Here are some tips to improve risk management skills while betting on the NFL.
Bankroll Management
When betting online, it’s essential to have a plan. It starts with an allocated budget, often called the bankroll. Bettors have various techniques to manage this budget monthly or even over the season. Even the most skilled bettors lose between 45% and 48% of their tickets, so losing is unavoidable. However, good management strategies can help mitigate the losses.
The most popular bankroll management strategy is the Unit Strategy. In this case, bettors will split the budget into units, and the more risky the bet, the fewer units the bettor will wager. In most cases, even if the bet is very likely, the bettor won’t wager more than 5% of the bankroll.
Understanding the Different Bets Available
It’s impossible to start betting without understanding how the system works. The different bet types influence the risk of a bet. Moneyline is the simplest bet type; it’s a straight bet on the winning team. Spread includes a point handicap to even both sides. With totals, bettors wager on a game’s final score and if it will go over or stay under this score.
Props are bets placed on a specific player or event, like penalties and injuries. Then there are parlays and teasers. Both let the player combine several bets with a single wager, which is riskier, but can pay out more than the money line. However, teasers add points to the selection. Finally, futures are wagers on an event settled in the future.
Betting is More Than Just Being a Fan
Loving football is central because it’s impossible to keep up with something the bettor has little to no interest in. However, bettors learn to set their emotions aside when it’s time to wager because the goal is also to predict correctly.