Guide to Betting on Sports in New Jersey
Unlike many online casino games in New Jersey, there’s a huge element of skill involved with profiting from NJ sports betting. You’re in control, which is what makes it so exciting.
The biggest mistake beginners make is assuming sporting knowledge is all you need to win.
Sure, your knowledge of a certain sport will help you win a wager here or there, but the real experts are the sportsbooks.
They set the odds with the view to making a profit from players. Remember, this is a business.
For that reason, you need to go beyond mere sports knowledge or you’ll lose in the long-term. The majority of players will lose money.
However, if you approach betting in the right way, you could be one of the few players to make a profit.
How to start betting on sports online in New Jersey
This guide will help you with everything you need in order to get started with sports betting in New Jersey.
From the basics of understanding odds, to which betting sites offers the best bonuses in order to maximize your betting experience.
Let’s get started!
Take part of our Free Betting Picks
If you are new to Betting, it can definitely feel overwhelming with all the odds and lines provided by the sportsbooks. If you’r not sure how to start, having a look at our free betting picks could be a great idea.
We provide free betting picks for all the big Sports to New Jersey citizens each week. Below are the sports and leagues we provide our picks for:
- MLB Betting Picks & Predictions
- NHL Betting Picks & Predictions
- NBA Betting Picks & Predictions
- NFL Betting Picks & Predictions
Understanding Betting Odds & Lines
As a sports bettor, it is very important to understand how to read odds. There are several ways to go about this. Every betting market will feature various betting outcomes.
These betting outcomes will present their betting possibility via an odds format. The most popular odds formats featured on our online sportsbooks are American odds, Fractional odds, and Decimal odds.
American odds will have a plus or minus sign in front of the odds suggesting the amount of money you would have to bet to win $100 or how much you would win if you bet $100.
There will be a number for each betting selection – one with a positive sign in front and one with a negative sign. This shows you how much you would theoretically win back from betting $100 on each side.
For example, if the odds on a particular team to win show +150, you would win $150 for every $100 wagered. If there is a -150, you would need to bet $150 in order to win $100.
This does not mean that you must bet in $100 stake every time. This is just the way that American odds is set up, in order to evaluate who are the favorites and underdogs, while explaining what the payouts look like on each side.
The most popular format in the US is American Odds. American odds, show how much money bettors are required to wager to win a $100 bet.
What does -110 mean in betting?
An American odds line of -110 means that you would make a profit of $100 if you wagered $110 and were correct. That’s also equivalent to decimal odds of 1.91.
Most bookies use this line whenever the outcome has a non-favorite, also known as a “pick ’em.” For underdogs, a betting line of +250 means you would profit $250 if you wagered $100 and were correct.
Most betting lines like over/under totals or handicap spreads will have both sides at -110.
Decimal odds are the easiest to calculate your returns, and that is why they are the most popular. In order to calculate your payout, simply multiply the stake by the decimal odds.
Example: You bet 100$ on an odds that are 1.55. You will then get 255$ in return, where as 155$ is the net win.
In betting, you generally win less money on teams who are heavily favored. This is because the favored teams usually have a better chance of winning. And because the underdog has a smaller chance of winning, the payouts are larger for those teams.
According to us, the fractional odds is the hardest odds type to work with. It’s mostly used by British betting sites and bookies and they have worked with these kinds of fractional odds forever.
The Fractional odds uses a minimum of one numbers on each side of a slash to explain what odds are offered from the bookmaker. The number behind the slash symbolizes your betted amount.
The number infront of the slash shows you the possible winning in relation to the number behind the slash. It’s really hard to explain in theory so lets have a look at a practical example:
If you want to bet on Nej Jersey Devils winning a game, you might get the odds 3/1. This means if you bet 100 $ you win 300$ plus your bet of 100$. So you bet 100$ and 400$ is returned to your account, if New Jersey Devils wins the game. Making it a total of 300$ in net winnings.
Here are a bit harder example. Lets say you think New Jersey is going to produce more than 3.5 goals in a game, and the odds is 3/5. Then the calculation gets a bit harder.
The 5 represents the amount we want to bet, say 100$, and the 3 shows how many parts of our bets we win if the bet is successful. So in this case 3/5*100= 60$.
This means if you bet 100$ you will get 160$ in return, making it a total of 60$ in net winnings.
What should i bet on?
At first glance, sports betting can seem extremely complicated. There are a lot of numbers involved and betting concepts can be overwhelming. That’s why BetNJ is here.
We will help you understand how to gamble on sports, the basics of betting, and the many gambling concepts involved.
Placing a bet with a sportsbook couldn’t be simpler, whether you’re on a desktop or a mobile device.
Most modern sportsbooks in New Jersey allow you to place a bet simply by clicking on the outcome betting line in question.
For example, if the New England Patriots have odds of +170 against the Dallas Cowboys, all you have to do is click on the number and it will be automatically added to your betting slip.
Simply type in the amount of money you want to wager and click ‘Confirm Bet’. That’s all you have to do and you’re ready to go. All bookies feature the potential payout. You must be logged in to bet.
Moneline is one of the most common betting types, since it’s also one of the easiest. The only thing you have to think of when betting on a moneyline is which team is going to win the game.
So you pick either the home team or the away team. If you got it right, you will win the amount you are obliged to according to the odds you betted on.
The sportsbooks then have different betting options when it comes to what happens if the game ends as a tie.
3-Way Moneyline (Full time)
Full Time Result works a little differently than moneyline markets. In addition to the favorite and underdog teams, gamblers also have the option to bet on a draw.
The draw is usually an underdog bet between +200 and +500, depending on how big the favorite is.
For example, if the New York Red Bulls were -150 against the +400 Philadelphia Union, the draw would be around +300.
Total Over/Under betting
Totals or Over/Under bets are explained as the combined score of two teams. Totals do not rely on the winner of the game, only the final score at the end.
The odds for these bets are usually a pick ’em (-110 each), making them a valuable option if you can consistently pick correctly!
Player Props Total Over/Under Betting
Most player props are formatted with Over/Under totals representing the predicted total of a specific stat at the end of the game.
To win one of these over/under props, you must bet the correct side of the total.
Half-time bets present great opportunities for value. For example, instead of betting on a -800 moneyline favorite to win their game outright, you could also bet on that same favorite at around -350 odds to win the first half instead of the entire game.
You can bet on a team’s point total O/U for the 1st quarter instead of the first half, or the entire game.
For example, the New York Jets can have an Over/Under total of 6.5 in the 1st quarter. This means that the NY Jets must score at least seven points in the first quarter.
If they don’t manage to score 7 or more, your bet will be settled as lost.
With significant sporting events, like the NFL’s Super Bowl, proposition bets are offered. Proposition bets are not tied to the final outcome of the event.
These regard specific events during a game such as who will win the opening coin toss, which player will score first, and which team will punt first.
The payouts can vary by the type of bet and betting odds.
Point Spread betting
Point spreads or spread betting refers to different types of betting on the outcome of an event, in which the accuracy of the bet affects the payoff. For the NFL the point spread wager are the most common.
These apply to games like football and basketball. Basically a point spread will determine the Sportsbook’s prediction of how the game will end.
For example, if the -7.5 point spread is presented in front of the New York Giants against the New York Jets, the Sportsbook is predicting the Giants will win by more than a touchdown.
Run or puck lines apply to baseball and hockey.
Player to score Touchdown
There are a few prop bets available for players scoring touchdowns. You can bet on the game’s first or last TD scorer, a team’s first TD scorer, or a player scoring multiple TDs.
You can also bet on a player scoring a TD at any point in the game. Anytime TD props offer the lowest odds since they only have to score once, and they’re able to score at any point in the game.
Player Total Rushing Yards
Sportsbooks offer rushing props for several different players. A couple of options are betting on the O/U for a player’s total rushing yards or the O/U for a player’s total rushing attempts.
Player Total Passing Yards
Quarterbacks have their own section of prop bets as well. You can bet on a QB’s totals for passing yards, as well as passing attempts.
Additionally, you’re able to bet on the total touchdowns a QB throws, the distance of their longest completion, and total interceptions were thrown.
Player Total Receiving Yards
Similar to how the rushing and passing props work, receiving prop bets also have many options available. Several players have O/U totals set for receiving yards and receptions.
Many of them also have totals for their longest reception.
Player Points & Assists
Betting on NBA player points is one of the most common ways to bet on player props. High-end players like Kevin Durant or Steph Curry typically see point totals set between 25-30 points.
These bets work similarly for NHL player props, with bookies using the O/U format with lines typically set between 0.5-2.5. Other sportsbooks may offer player vs. player lines, where you bet on which player will score more.
Player shots on goal
These prop bets are typically in the O/U format, with odds varying based on the player and position.
Some of the league’s shot leaders, like Steven Stamkos and Alex Ovechkin, will see their shot totals in the 3.0-4.0 range.
Player Total Rebounds
Big-time rebounders in the NBA like Joel Embiid will also see rebound totals in the range of 10-13.
Player Total 3-Pointers
Many sportsbooks also offer NBA player props for 3 pointers made. The best perimeter shooters often fetch totals between 2-4.
Player to hit Home Run
Home run player props are a fan favorite in the MLB betting community. The odds will vary based on the player as well as the pitcher and bullpen he faces.
Pitcher Strikeouts Over/Under betting lines
And, of course, there are prop bets for strikeouts. These popular bets are in the over/under format, which keeps the odds closer to even.
Perhaps you like to place parlay bets, where you combine multiple games and the winnings accumulate over multiple events?
Parlays are offered on most betting markets, where you can bet on multiple events, involving two or more betting outcomes for greater winning payouts.
In order to create your parlay, you must select all the betting outcomes that you wish to add to your bet slip, before placing the bet. Betting apps have different features for setting up parlays.
It is important to note that parlay cards come with their own rules, therefore, it is important to read the rules before placing your bets.
Bet on the Biggest sports in New Jersey
The NFL is the largest sports wagering category in the US. The immense popularity of the game and weekly format on a relatively limited number of games draws in a huge volume of bets.
The most common bets in football are not standard moneyline wagers. Choosing which team you believe will win will typically yield poor odds.
Instead, most bettors prefer to make point spread wagers. This is why you’ll often read articles about NFL teams and ‘covering the spread’.
The strategy for the NFL is to be very selective, and have a well-developed set of comparative power rankings to analyze match-ups.
Always be up-to-date with your information
The betting lines are very tight in the NFL. A “weak” line is almost non-existent. This does not mean there are no opportunities, but with the NFL, bettors must be very selective and very careful to manage their bankrolls.
Current information is essential in NFL spread analysis. Information on injuries, playing surface, weather conditions can all have an impact.
The weekly format on limited games means a lot of analysis time between events, and time for the betting lines to move slightly.
The strategy for the NFL is to stay current on team performance, game day conditions, and be very wary of the heavy public favorites.
These are the teams that win a lot of games on the national stage but do not do well against the spread. Most value opportunities in the NFL boil down to finding real value in the underdogs.
Basketball is the second most popular sport for gambling in the US. The season is long and there are far more games than in the NFL, thus offering ample opportunity to gamble.
Basketball betting typically takes place mainly in the NBA, but there’s also a flourishing market in college basketball.
The NBA closely follows the NFL in terms of amounts wagered and offers good odds/payout opportunities. There are games scheduled every day and as a result, there is a great deal of statistical data available.
Statistical Value is provided by observations where valid patterns can emerge. NBA stats can provide insight on scoring, rebounds, home and away results.
Use a strategy
The strategy for this sport is to focus on the numbers. Develop comparative analysis on the volumes of stats data available. It is recommended to keep a daily stats-feed so that you can be ready with objective analysis to gain an edge.
Again, point spread wagers are extremely common. However, the close nature of many basketball games makes the moneyline wager (or win bet) a highly popular option.
Most newcomers to basketball gambling should opt for match bets, so you don’t lose your bet simply because the match is a draw and the game goes into overtime.
Exotic Bets in Basketball
Basketball is one of the few sports that has a range of exotic betting markets. You have markets where you can bet on which teams are going to make the playoffs or which team is going to win it all.
Basketball takes this one step further. The winner of the season MVP award, as well as Rookie of the Year, are highly popular markets. Betting on basketball markets like these is a great way to follow one player and potentially win big.
These types of markets do heavily fluctuate, so betting on them is recommended for basketball fans who keep their fingers on the pulse of the season.
Ice Hockey Betting
Betting on ice hockey is a relatively simple prospect. There are no draws, most games are close, and the same wrinkles that apply to a sport like Baseball don’t apply here.
The standard bets in ice hockey are moneyline bets, point spread wagers, and total goals scored in a match. You can also make season-long bets, called future bet, on which team you think will win the Stanley Cup.
The most popular betting markets are those in the NHL, but there’s also a growing market for the Kontinental Hockey League (KHL), which consists of teams from countries like China, Finland, and Belarus.
Remember this when betting on Hockey
Ice hockey is more about understanding the teams. The goaltender has a disproportionate effect on the whole team.
A terrible team with a great goaltender can have a lot of success throughout the season. Before betting on any team, make sure you know the goaltenders.
The stadiums, due to their enclosed surroundings, also play a major factor. Fans can heavily influence games in ice hockey, so it’s important to know which teams are strong at home.
Baseball is another of America’s ‘big four’ sports. Betting on baseball can be as simple as you like.
You can bet on the team you want to win, bet on who will be in the playoffs, and put your money on the team you believe will win the World Series.
However, baseball can be a complex game. That has also led to a range of highly specific bets, such as how many runs will be scored per quarter.
Baseball stats can provide insight on critical pitching matchups, runs scored, and fielding errors. Serious baseball bettors need a daily stats-feed.
There are games every single day during the MLB season, and a bettor needs to be ready with objective analysis to gain an edge in this category.
Look at the variables
Unlike other sports, baseball is more heavily influenced than any other by specific stadiums and the environmental conditions on the day of the game.
Successful betting on baseball requires you to understand this so you have a higher chance of winning, particularly when it comes to point spread wagers.
For example, if you’re betting on a high number of runs per game, you’d be looking to bet on matches held at Coors Field or Chase Field.
On the other hand, low-scoring games tend to happen at AT&T Park in San Francisco and Safeco Field in Seattle.
This is because all baseball stadiums have different dimensions.
Environmental conditions also have to be taken into account. High humidity means the ball will travel further through the thinner air. High winds could mean more runs as it’s much harder to get caught out.
The impact of these conditions makes baseball a much harder sport to successfully bet on.
Dedicated soccer fans enjoy gambling on their favorite teams. Fortunately, they’re not limited to only betting on the outright winner of the game.
There are many different types of bets you can place on various outcomes like Full Time Result, Player Props, Score Props, Total number of goals, cards, corners and much more!
Golf is a very simple sport to bet on because most bets revolve around choosing the player who will win the tournament. Players can also bet on whether a player will finish in the top 5, the top 10, and the top 20 (in the bigger tournaments).
There are also bets on the winning margin.
Due to the fact, golf has much larger fields than the big four sports in the US, payouts are bigger because the odds are longer, even with the top players.
Both collegiate basketball and football offer good betting odds and payout value. In fact, many experienced bettors will argue the best betting value is with college sports.
The reasoning behind this is the volume of college games, and again, the fact that the sportsbooks offer lines on just about every college conference.
This volume of betting options on non-professional teams of various competition levels can make for some real opportunities.
College basketball is stats-driven and football is more recent, comparative strength-driven. Gameday spread performance can be heavily impacted by:
- “home” and “away” results
- non-conference vs rivalry games
- home-coming games
The college football bowl games are also good opportunities for odds value, primarily with underdogs in the minor bowl games.
The NCAA March Madness tournament will experience a lot of “over-betting” on perennial favorites.
College sports are played by young student-athletes at various competition levels and there is a lot more variability in the spread outcomes.
With disciplined research, you will often find more potential betting value in this category versus the professional ranks.
Betting on Boxing
Boxing is another simple sport to bet on because most bets revolve around the victor. There are few variables to bet on.
Players typically bet on who will win and the method of victory. For example, you can place bets on whether there will be a knockout or whether it will go to the judge’s scorecards.
Betting on boxing can also encompass predicting which round the bout will end in. Many place these bets before the opening bell, but there’s also a strong in-play market for these types of bets.
Ultimate Fighting Championship is an American organization that promotes mixed martial arts as a combat sport.
In recent years, UFC has became the most popular sports to bet on amongst many fighting & betting enthusiasts in America and around the world, with deals expected to expand to Australia, Asia & Europe.
Betting is also available, with similar betting markets to Boxing, such as Round Betting, Total Rounds, if the fight goes the distance.
The fight outcome is also available and you can place bets on how the fight will end if it will end by decision, knockout, or submission.
Fight Nights are usually organized every week and are presented on a Saturday evening.
Tennis is becoming increasingly popular in the US. Most of the action revolves around the four Grand Slam tournaments of the year: the Australian, the French, Wimbledon, and the US.
Betting on tennis is extremely simple. Nearly all the action is on the winner of individual matches or the winner of the tournament.
There’s a strong in-play betting market, such as who will win the next set, but these markets are still dwarfed in comparison to the others.
Tennis is one of the simplest sports to bet on for beginners.
Racing is always a popular sport to bet on, and NASCAR betting is more intriguing and complex than it first appears.
Yes, you can place bets on who will win a race and who will finish in the top five or top ten. But betting on NASCAR goes further than that.
You can also bet on head-to-head battles. These bets take two to four drivers and to win the bet your driver has to beat the other head to head participants.
The rest of the race doesn’t matter as long as your driver wins the head to head.
There are also prop bets to take into account. These include: betting on which manufacturer will win the race, how many caution flags will be thrown, and the number of crashes.
For decades video games have been evolving to a point where they’re as entertaining to watch as live sports. As more people from around the world invest in these games, the esports betting in New Jersey continues to grow.
Though it may be one of the newest sports to bet on, it’s undoubtedly one of the most entertaining.
What are Esports Games?
Esports games are competitive video games between groups of people (5v5, 4v4, 3v3, 2v2) or even 1v1. Leagues or tournaments with large prize pools. The most popular games are CS:GO, Fortnite, LOL and Dota 2.
There are several popular esport games and typically these games are played in an organized manner. There are millions of fans from around the world who tune into the competition online or on TV.
The competitions attract nearly as many fans as traditional sporting events. Some of the most popular franchises that you can bet on include the following:
- League of Legends
- Call of Duty
- APEX Legends
- FIFA (Esoccer)
- Dota 2
- Starcraft 2
- Rocket League
Betting on Cycling
Cycling is less popular for sports betting in New Jersey. Most of the major races that gain action are the
But an increasing number of players are starting to get interested in betting on cycling.
There’s more to cycling than just betting on the individual rider or team who wins the tour.
Each Grand Tour has separate classification winners, so as well as the overall winner there are classifications for things like best sprinter and best young rider.
There are also other forms of cycling to bet on, such as track cycling, BMX, and the cycling events at the Olympics.
Betting on Horse Racing
The most common bet in horse racing is the simple outright bet. You place your money on a horse and if that horse wins you win.
Payouts are generally higher but the chances of losing are also much higher. You need a different strategy to take this into account.
General NJ Sportsbook Rules
There are groups of individuals that are prohibited from betting on any sporting event due to their
This would include professional and college athletes, coaches, and referees.
The law prohibits any persons with potential influence or access to non-public information from betting on events they are in some way associated with. Any person under the age of 21 is prohibited from betting.
KYC for the New Jersey Gambling Industry
Sportsbooks use “KYC” policies to prevent fraud, money laundering, and users with multiple accounts.
This means you’ll need to submit your contact information. These will include things like your name, address, and email.
Payment Methods for Sports Betting in New Jersey
The most common method of making a deposit is to use a credit/debit card. These types of deposits are practically instant and the money will become available in your real money balance in a matter of minutes.
It’s recommended you inform your bank before making a deposit with this payment method. Telling them could save you hours of frustrating anti-fraud protocol!
Cryptocurrency has quickly become one of the most popular payment methods available in sports betting.
This method is quick, convenient, and carries lower transaction fees. You also are entitled to bigger bonuses if you choose to deposit with cryptocurrency!
E-Wallets (Paypal, Skrill, etc.)
The e-wallet is a term used to describe services like PayPal, Skrill and Payoneer. These online wallets enable you to hold money online and skip the hassle of dealing with banks.
Like with a credit or debit card, these transfers are typically instant.
Wire transfers are still possible with most betting sites. However, you should be aware that a wire transfer can take anywhere from three to five business days too clear.
Only use this option if you don’t want to use a credit card and have no access to an e-wallet. Some players opt for wire transfers for safety reasons.
Withdraw Limits/ Other Limits
Similar to wagering requirements, there are also withdrawal limits. These include time limits and amount limits when making a withdrawal.
You should never deposit before checking the limits you’ll be dealing with later on.
All clients are required to be 21 years of age
When creating your account, you must verify that you are of legal age to gamble.
Develop a Betting Strategy
The definition of strategy is to develop the specific steps necessary to reach a defined set of goals.
Further, strategic planning can also be described as a combination of art and science to reach those objectives.
In sports betting the goals are two-fold: to have fun and to make a profit in doing so. The combination of art and science also applies to sports betting.
It is not all numbers, but understanding the odds factors is very important. In a sense, betting on sports can be viewed as a creative process, supported by sound number analysis.
Betting online does require an ability to apply some intuitive sense about the outcome of a sports contest but also demands objective numbers to support the expected results.
One should have an unbiased, creative sense, but not lose track of the underlying facts.
The key first step in making a betting plan is to define your goals. If you are betting for fun, then the goal is simple; make your bet and enjoy the game.
However, if your goals are more for-profit, the goal should cover a defined period of time.
That period of time could be any series of events such as the NFL season, the NCAA Basketball tournament, or the World Series.
Take a Business Approach
The profit goals should define a positive cash outcome over a period of time, recognizing that there will be losses. The bettor’s edge on the odds prospects is fairly narrow, and a solid planning approach is essential.
A business approach recognizes the betting opportunities and slight edge you may have on a specific range of sports bets, along with the inherent risks.
Gain an understanding of the types of bets available and start out with wagers on single-game events. Parlay payouts may appear very attractive, but you need to cover every event on the bet.
Single-game wagers provide the best odds value and will minimize risk to your bankroll.
It is also important to have a budget and maintain control of your bankroll. Bankroll management is a key aspect of long-range planning for a series of sporting events.
Preparation is Essential
Before placing a bet, ask yourself the following questions:
- Do the numbers make sense?
- Can I make an objective case based on analysis or is the bet based on a “gut” feeling?
Have you overlooked the value in certain situations, or had tendencies to over-select favorites?
Have you noticed any other consistent patterns that are not identifying odds value? Are you getting the right data for analysis?
Baseball and the NBA are stats-heavy with a high volume of games and in-season data. The weekly NFL line is a bit more like single event preparation.
There are fewer games and recent performance is critical. If you are betting for profit, you need to get all the reliable information possible and do your homework.
If you are looking to make a profit over the entire season or an event series, such as a tournament or a major single event like the NFL Super Bowl, you need as much preparation as possible to increase your profit potential.
You may have a good sense of opportunities in the betting lines, but you should always have the past performance information that will help you spot trends to back up your betting insights.
Find two or three good on-line stats feeds for the sports leagues you intend to wager. Statistic feeds provide source data for trend analysis on home/away performance, scoring and defensive metrics, as examples.
These are just a few examples of the information types of that can help you develop an edge. The internet offers a variety of sports data sources and team performance statistics.
The art is knowing which set applies to the range of sporting events you need to evaluate.
Review Your Performance
Your personal wagering performance versus the New Jersey sports betting lines is an important past performance category. You should always track your actual betting performance.
This tracking process allows you to measure how well you did last season against the spread or the moneyline.
Was there positive trends you can build upon this season? Was there obvious negative trends?
For example, was there more point spread losses on home favorites, losses on under bets, or too many losing parlays?
The concept is to look at your past performance for specific areas of improvement as you approach the coming season
Fully prepare yourself before you start placing real money on the various spread lines, money-lines, or live betting action.
A successful strategy requires experience with the basics. Bettors must have the ability to develop a comparative analysis technique to detect “weak” lines.
The sportsbook must remain competitive, offering lines on just about every single professional and college game. It will provide lines that minimize their risk by balancing the action.
The betting public tends to lean towards popular teams, which can move the betting line to where there is real value in the underdog.
A successful strategy demands objectivity in trusting the comparative analysis and customized power rankings – not what the betting public may consider a “sure thing”.
As a bettor, you do not have to bet on every game. Selectivity is what helps develop your edge.
You need a season-long, disciplined approach that also includes a plan to steer your money to the best odds value. Minimize risk by making several single-game bets while avoiding parlays, except in very specific situations.
A key element in an advanced approach is the ability to effectively manage one’s bankroll.
This is discussed in more detail below, but financial management is another aspect of wagering that requires discipline and patience.
There are times to vary bet size, given the right opportunity, but there must be wagering capital available when opportunities come along. Treat your bankroll as business capital.
Mistakes to avoid when betting online
The biggest mistake beginners make is assuming sport knowledge is all you need to win.
Sure, your knowledge of a certain sport will help you win a wager here or there, but the real experts are the sportsbooks.
They set their odds on sports with the view to making a profit from players. Always remember, this is a business.
For that reason, you need to go beyond mere sports knowledge or you’ll lose in the long-term. The majority of players will lose money.
However, if you approach sports betting in New Jersey in the right way, you could be one of the those players to make a profit.
Avoid Fake Bookies with no licenses
In order to guarantee your initial investments, you should always bet with licensed bookmakers.
While some unlicensed sports betting websites may have great reputations, there is no legal guarantee they will pay you your winnings.
All licensed bookies will have near-instant access due to the fast-paced nature of betting. Email, phone, and chat support are critical when you need answers immediately.
You never know when you’ll need help, and ensuring your bookie has a reliable support team is a great advantage to have.
Before acquiring this license, New Jersey sports bookies undergo meticulous inspections and vigorous background checks where authorities investigate the companies along with their employees.
This practice ensures the safety of all players involved with legal online sports betting sites in New Jersey.
Try not to bet on your own team. When you have ‘skin in the game’ you should avoid betting entirely on your favorite team. Sports are so highly valued around the world because people are passionate about it.
Most people don’t think clearly when a game involves their favorite team. This is how sportsbooks make so much money from players.
The best way to be a profitable sports bettor is to approach each wager logically not emotionally.
Working on your strategy for a profitable betting season involves the importance of cash management as part of your overall sports betting plan. You must have the resources available when a good opportunity comes along.
Plan for the long run, while adjusting your bets on your estimate of odds value.
Never bet significant amounts of your bankroll on a single outcome. This can lead to chasing your losses and reloading your account with money you don’t have.
As a rule of thumb, you should avoid putting more than 2% of your season bankroll on a single event.
Proportional betting involves using your comparative analysis to determine how much of your bankroll to bet. When you determine that you have a 5% edge, you should then bet 5% of your bankroll.
Sportsbooks offer a line that can be translated into an implied odds percentage. If your expected win percentage after implied odds analysis is 5% higher, then wager 5% of your bankroll.
The proportional method has proven to be a better way of increasing your bankroll when winning while minimizing the loss impact. Prepare for lots of losses.
At best, with analysis and discipline, you can expect to win 58 of 100 events on an average season. Make sure you have the funds to withstand some losing streaks while having fun and making a profit.
You should always be selective with your bets, limiting your analysis to a single sport and a few teams. The sportsbook will put up a line on just about every sporting event there is, as it needs to balance the action on both sides of every bet.
Your advantage is to narrow the focus and look for value.
Finally, it is important to stay disciplined. Remain objective and trust your numbers. Do not get caught up in public favorites and stick with your core process.
You will modify your comparative rankings as the season rolls along but stick with your methodology and limited focus.
Why COMPARING odds matters
Signing up for multiple sportsbooks is critical for maximizing your profits.
Let’s say BETMGM may offer the New Jersey Devils at +190 moneyline, while FOX BET offers them at +200. In this scenario, having multiple bookie options would profit you an extra $10 if you had wagered $100 on FOX BET.
That is an actual 10 percent extra, and imagine the difference after a whole season if you always would bet on an 10 percent higher odds.
Frequently Asked Questions (FAQ)
In our complete betting guide we go through everything you should know about sports betting in New Jersey.We provide information about the most popular betting lines and what sports you can bet on.