Watch this insightful interview with Wayne Allyn Root, a professional handicapper, author of The Zen of Gambling and The King of Vegas’ Guide to Gambling, he has a couple of very useful sports betting tips for you, such as:
1) Take teams nobody wants (so-called “underdogs”, or “orphans”, referring to undervalued stocks on Wall Street) – everybody is assuming that they can’t win, and that’s where your chances are!
Wayne Allyn Root’s philosophy is simple: “FIND VALUE. Isolate the few times each year, when every team is undervalued, and buy them, (=play them)… and a few times each year when every team is overvalued, sell them short, (=bet against them), […] value is what gets you sports bet winners.”
Overhyped teams tend to become complacent (teams that win the SuperBowl don’t win again next year), while underhyped teams are angry and willing to perform better. Hence the advice: Go against “glamour teams”: Just because a team wins, it doesn’t mean they will win against the point spread.
2) Don’t lose focus, in two ways: don’t concentrate on minor issues like “which player got injured”, just as you don’t focus on “who is X company’s CFO when you buy stocks”, and bet only on a few selected games where you have a real statistical edge (instead of betting on a large number of games). You can only win with quality, not quantity.
3) Buy Low, Sell High – which is not only the key to sports gambling winners, but to so many other areas of life.
4) You have to know when to stop – just like in a casino: “If you win, walk away”. He emphasises that bettors shouldn’t become greedy after a few successful bets, and they should have money management skills and discipline.
5) History Always Repeats Itself – if you don’t study history, you are doomed to fail because it comes back around. 50 times a year, there are black horses who win against the overhyped teams, out of the blue. Those are the ones you should identify and bet on!
All in all, it’s a very good interview – watch it, it will be worth your time and you will learn something new on “how to place winning bets”.