Sportsbook bettors rarely stop and consider the concept of value when it comes to their sports gambling and handicapping of games. When you enter a sportsbook it should be no different than entering a car lot, jewelry store, stock brokerage, or an online travel agency.
You want to get the best possible quality at the lowest possible cost. Whenever possible you want to get MORE than what you paid for. You want ADDED value rather than lesser value. Those who understand the concept of value are the most successful at sports gambling.
A great example of lack of value at a sportsbook would be with teams such as the Los Angeles Lakers in pro basketball, the New York Yankees and Mets in baseball, Duke Blue Devils in college basketball and the Dallas Cowboys in pro football.
These teams are highly popular at a sportsbook because they are generally successful teams. But the first thing to understand when you enter a sportsbook is that the LINEMAKER also understands that these teams are good as well as ALSO understanding the general public’s attitude about such teams.
Line makers generally want to keep the sportsbook wagering action even on both teams so they will make a line that will attract dollars both ways, unless they want to set a “trap” by making a line that tricks heavy action on the wrong side.
The winners at a sportsbook will learn the knack of taking a team that is getting a better price than they deserve. As much as the Yankees do win, they regularly have a losing record at a sportsbook after the season because they are so over-priced that a loss on them becomes incredibly expensive and cannot be overcome by those wins that they do post.
The Lakers are always tough at home and that makes for a popular bet yet they rarely show a profit against the line in home games because the line makers charge a higher price on the odds than what is actually warranted in order to get action on the other side. That’s how value works.
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