It’s an all-new episode of Wise Kracks sports betting podcast with cohost Jon Orlando. We have lots to discuss this week in the world of sports betting – home underdogs in college basketball, bettors being taken to the cleaners backing the LA Rams, and I’m losing my VIP status at Caesars Sportbook. We also dive into my betting strategies and why Super Bowl futures are a long-term loser for serious bettors.
Betting NCAAB Home Underdogs
Not long ago, home underdogs were 28-18 against the spread to the start of the college basketball season, according to DraftKings Sportsbook. This fact sparked an interesting explanation of how big a part of my betting strategy home underdogs play, and how big an opportunity it is in NCAAB betting. I explain that my favorite kind of bet is a six or seven-point underdog and down.
Super Bowl Futures
With the recent Rams loss to the 49ers, we see yet another upset in a line of losses that includes the Cowboys losing to the Broncos and Buffalo losing to Jacksonville. I point out how much more wide-open this NFL season is than any other year in recent memory. Current odds to win the Super Bowl, as seen in Las Vegas, are tight with Buffalo at 6-1, Dallas 7.5-1 and Tampa, Chiefs, Packers and Titans all at 8-1 and the Cardinals and Rams both at 9.5-1.
I explain that in general I stay away from futures bets because the household is generally much higher, say 25%, compared to the roughly 4% hold on straight bets. It also ties up your bankroll for a long time which takes it out of action. While futures are a lot of fun, and a good option for recreational bettors, it’s not a good choice for anyone serious about winning long-term.
Bankroll Management In Sports Betting
Jon and I discuss the differences between East Coast and West Coast sports gamblers. I think East Coasters are more gritty and knowledgeable when it comes to sports, but I’m quick to point out that the vast majority of bettors in cities like New York, Baltimore, Philly and Chicago are still long-term losers when it comes to gambling, just like their West Coast counterparts.
What’s to blame? Bankroll management is the single biggest problem for most bettors. Good bankroll management isn’t something that happens overnight. As a kid, growing up in a gambling family, I had no idea what I was doing when it came to odds, house edge and bankroll management. Years of experience later and I am here to share what I’ve learned with listeners about good bankroll management.
Next Week On Wise Kracks
With the World Series of Poker Main Event wrapped up in Las Vegas this week, we’re excited to welcome poker pro and commentator Maria Ho on Wise Kracks. Both Jon and I are poker players and have both competed in the Main Event. Maria has an absolute wealth of poker knowledge and entertaining stories and we’re excited to learn everything we can.