What is Smart Money in Sports Betting?
Sports betting is attracting more and more people every day as it’s being legalized in many states. Many people are finding sports betting as a new way of investment. With this widespread popularity, knowing the factors and trends in sports betting has become quite a necessity.
In any betting scenario, two kinds of money are in action. One is smart money and the other is square money. In Sports betting, smart money plays a crucial role. Pro bettors, amateurs and even the bookmakers are affected by it.
To put it simply, Smart Money is the amount betted by professional bettor and square money is the money betted by public or amateurs. Pro bettor possesses a wicked amount of information on a particular betting like the stats, weather, injuries of players, gaming strategies and so on. He then analyzes all these pieces of information and makes a betting that will go in his favor. For a pro Bettor, betting is like an investment and he knows all too well that he will win eventually. The efforts and calculations behind the betting provide him a better chance at winning than a casual bettor.
This much preparation from the pro bettors is definitely not a good thing for bookmakers. As the bookmakers always want to win, they kind of loath smart money. So they closely follow the movement of smart money and decide their next course of action.
As pro bettors have the track record of winning most of the time, people usually follow the movements of their ‘smart money’. One simple way to do that is to follow the line movement. The line is the margin set up by the bookmakers to ensure an equal playing ground for all parties. If the line is moved early in the betting it is usually the action of smart money.
Most of the casual bettors join in the game at a later period, so any line movement this time might be the result of square money. Another telling sign for sharp money is the rise of betting on an underdog. Casual bettors tend to bet on the favorite and don’t like betting on the underdog.
Placing your bet by following the smart money is certainly handy. But it also has its downfall. For one thing, you don’t always know for sure where the smart money is going. As none of the tricks mentioned above are absolute, you can be tricked into following a fake movement of sharp money. The pro bettors actually do that sometimes. The other thing is that no one can guarantee a win. Even experts make mistakes sometimes.
On a final note, while following smart money can help you make a conscious choice, you shouldn’t be blindly placing your trust in it. It would be wiser to follow the numbers regularly to get a hang of it. While it is true that you won’t be turning into a ‘betting guru’ overnight, the experience you gather will surely help you make your own decision.