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The internet offers countless opportunities to bet on various sports, political events, and on just about anything that crosses your mind. While there's little handicapping you can do when it comes to politics and such, sports betting is an altogether different take. The internet makes it possible for you to thoroughly handicap your games and what's even more important, it makes one of the most difficult activities associated with internet sports betting - reverse handicapping - a whole lot easier.
Internet betting carries several advantages over your traditional bookmaker. First of all, upon signing up to an online sports betting site, you'll be offered a sign-up bonus. This bonus is kind of like rakeback in poker. The poker rakeback offers you a rebate on the rake you generate through your actions (the full tilt poker rakeback gives you a 27% rebate, and the Betfair rakeback gives you 40%), while the sign-up bonus at a sports betting site offers you a % match on your first deposit, which can actually be considered a rebate on the money you wager. No real life bookmaker will ever offer you such a first deposit bonus.
Furthermore, online sports betting sites offer their players lines and picks. There are free picks and there are picks you'll have to buy. The bottom line is these perks will increase your odds of making money betting online.
Reverse handicapping, which is one of the most important aspects of successful sports betting, means that before placing your bet you actually take a look at the bookmaker's lines and you consider the factors that led to their present form, in your own handicapping. Just relying on your own straight handicapping may help you determine which team will be the winner, but that has little to do with how money is made in sports betting.
In internet betting, just as in regular live betting, wagering on the favorite is rarely a good idea. It is basically a negative EV proposition, due to the lines the bookmaker offers you and due to the vig he takes.
In order to make money betting on sports, you need to understand how the bookmaker works and how he shapes his lines according to his own agenda. Suppose you're betting on a match-up, in which there's an obvious favorite. Squares - like yourself - always like the favorite, so the majority of the money will come in on the fav. The bookmaker needs to balance the bet though, and for that reason, he'll move his lines to make the other side of the proposition look more attractive. In a word, he wrings all value out of the favorite's side and adds it to the underdog's. Basically, by betting on the favorite, you'll be putting your money where the least value is.
In order to find value, you need to locate hidden value: something not many people know of. As soon as the masses discover the value and start to flock to exploit it, it will disappear. In order to be successful at sports betting, you need to swim against the tide so to speak. Always look for the hidden value on the opposite side of where the crowds are.
