Anyone who follows sports betting knows Ted Servansky, known in the sports betting world as Teddy Covers.
An ESPN (related: ESPN college football betting system) commentator and professional sports bettor, he doesn’t usually “ignite the flames” when one thinks of big time gamblers. What he does do, however, is provide insight into how the industry works and how new sports bettors interested in making the jump to professional betting, or even sports investing, can do so. Among this, he identifies clearly what type of sports bettor he is among the 10 types of sports bettors in the market to watch for.
While Teddy Covers often stresses points that most betting websites advise in general (such as knowing how much you can afford to lose) some of the finer points of his insights are often lost on his listeners, let alone unknown. Because of this, as well as a very honest view of what makes a winning bet and what doesn’t, there’s a lot of great things people can learn from what Mr. Covers says.
Shop Your Lines
One of the biggest mistakes new nfl football bettors make is to simply bet on the first set of lines they see (Teddy Covers makes a point that betting only on lines is another mistake).
This is a huge misstep, and Covers is adamant on the point: shop your lines. Notably IntelligentBettingTips.com offers free sports betting tools for users to view multiple sports book lines in one area, and customize their view across sports, leagues, and bookies. And two popular features included with shopping lines through this free sports betting tool are the free line movement alerts, and personalize the games to monitor across the various sports books.
Thus the rule for shopping lines is compare what other bookies are offering first. The goal is simple: make sure that you are maximizing potential return on investment. It doesn’t happen all the time, but it happens enough that just shopping the football line that you want to bet on can substantially invest your return– and because you’re spending less, you’re automatically reducing your loss. That one simple rule will change the way a bettor looks as a bet, and a standard practice almost every sports bettor will perform. You can oftentimes find much better deals than what you originally thought.
Prepare Like It’s an Investment….Because It Is
Professional bettors bet with their heads, not their hearts. But that’s not the whole story. Betting with your head means making sure that your bet is informed. If you’re going to invest, know what you’re betting into. There are no feelings in bets. So make sure that your investment is wisely spent.
Ted Servansky (Teddy Covers) often stresses that there are a variety of bets that a bettor can make to mitigate their risk. Take advantage of them. Betting the over/under and prop bets can be used wisely to not only lower your risk, but increase your return substantially.
Insight: prepare and bet with your head. Betting is an investment, so make sure you have the information you need to make an informed decision, as well as reduce your risk of major loss. There are plenty of people ready to throw all their money off the line. None of them are professional sports bettors.
Trust No One. Watch the Market
A lot of people, because of Teddy’s generally good advice, follow his bets in the hope of making just as much. In the first place, that runs counter to everything Servansky says about investing on sports– the novice is just shifting trust from their heart to what they hope is someone else’s head. Gambling boards are filled with people trying to simply follow what Covers bets on, lose substantially, and complaining that he doesn’t know what he’s talking about. It’s a rather unfair opinion to place on Teddy, since a) these are mostly gamblers and I revert to the first point in this paragraph, and b) sports investing about winning and managing losses. To many novice bettors and football gamblers have a delusional mindset of hitting 70% or 80% an NFL season. But yet a profitable sports investor only needs to win over 52.4% (related: see bookies and the power of 52.4%) of their bets to turn greater profits than the average stock investor (10% annual).
But what’s more likely is that Teddy Covers makes a lot of bets to mitigate risk, and so you can’t really rely solely on what’s just said on TV. Covers stresses knowing what you’re betting on and betting smart. Betting smart is never following someone else’s bet. It’s learning and studying out what’s the best bet on your own