Learn the Basics of Odds Trading
You may be somewhat familiar with the new form of online betting known as odds trading, but if you are not, you need to get the basics down so that you can make odds trading bets of your own. As long as you can find an online odds trading site, odds trading is easy to do and if done well, the experience can be very profitable.
Odds Trading 101
Odds trading occurs when you want to make a bet that is not offered online by bookmakers. Perhaps you like a particular underdog to win, but you don’t think you are getting good enough odds. Maybe you already have a team with a certain point spread but want to take the other team with a more favorable spread to hedge your bets. Whatever it is, there is probably a some place out there that will book your bet, all you have to do is find the place.
Finding Your Odds Trader
Odds trading websites facilitate this process for you. Instead of having to go out to your local bar or pool hall and propose your bet to everyone you meet, you can simply post it on the site. Other players looking for interesting propositions will see your bet, and if they meet your conditions, can select your bet and you’ll have a wager. While those who bet directly with a sportsbook pay an extra percentage on their loss to the House when they lose, odds trading sites profit by taking a small percentage from the winner’s earnings.
Odds Trading - Advantages for the Player
While players can get an edge through betting with a regular sportsbook, the edge is usually minimal, since sportsbooks generally have teams of experts figuring out the most equitable line, or at least derive their lines from a group that has such a team of experts. With odds trading, you set your own lines, and it is only a matter of finding someone who thinks those lines are acceptable. A skilled trader can give themselves a much larger edge when betting outcomes, and finding a bigger edge is what successful gambling is all about.
Try to Create Good Odds Bets
A bet that gives you a great edge is useless if you can’t get anyone to take the other side. Craft your bets carefully. Look at the odds and lines that the online sites are offering and generate your bet accordingly. Look for situations where someone is more likely to take the worst of it. Consider, for example, a team that is a fan favorite but is too highly favored, or a team playing in conditions where they traditionally perform poorly, although this fact is not heavily publicized.
Be Aware of the Juice
Remember that with odds trading, the online odds trading site takes a percentage from the winner as its fee for setting up the bet. Be sure that you know exactly how much the site takes and that you have calculated this into your projected edge when crafting the bet.
Get Some Experience
If you’ve never done any sports betting before, it might be a good idea to practice betting in the conventional way before getting too heavily into odds trading. This will give you some experience understanding which odds bets tend to be good and which ones tend to be not so good, and if you sign up with the site offering the best bonus, you’ll decrease the bookie’s advantage a bit. You’ll also come to understand what circumstances can give the player an edge or put the player at a disadvantage. You should also make sure that your bets are appropriate for your bankroll. You don’t want to blow your entire bankroll on one bad weekend. Be sure to have enough money to overcome the variance that occurs with any situation that does not have a fixed outcome.