Horse racing is a sport that’s often seen as some sort of rocket science. To place a bet, you’re faced with a myriad of possibilities, trying to predict the outcome for a couple of crazy horses. You’re considering variables including age, body weight, track condition, and past lap times. Sometimes, even the horse’s demeanor! The creators of this game definitely knew what they were doing.

Predicting the outcome of a horse race is no walk in the park. It’s a puzzle that has perplexed data scientists and statisticians.

However, there’s this guy, Bill Benter. He approached it from a different angle. This mad scientist of a physicist wrote an algorithm that allowed him to rake in millions from the game. He forever altered the way the professional gambling community viewed the game. The funny part? We only got wind of his story when he was nearing the billion-dollar mark. This man must be incredibly secretive, sly as a fox. Wicked.

Who exactly is this man? Let’s relive his life in this post.

Early Life and Education 

This Benter fellow’s beginnings were akin to those of your classic mad scientist. Born in 1957 in Pittsburgh, Pennsylvania, U.S., he was christened William Benter. This is the place he called home during his formative years. 

He had a knack for numbers, a budding maths prodigy if you will. 

Benter was that kid next door, blessed with an abundance of freedom from his parents. Despite this, he was a hardworking student. Speaking of “freedom”, he would sometimes go on adventurous vacations, hitchhiking all the way from Europe to Africa (specifically Egypt), and even driving through the vast expanse of Russia.

There came a point when he gained a sense of direction in life. About 2 years into his study of Philosophy and Physics at Case Western University in the 1970s and some time at the University of Bristol, he realized he wanted to leverage his mathematical prowess to turn a profit.

Venture into Gambling 

Benter made the bold decision to leave school and hop on a bus to Las Vegas. His mother must have been gnashing her teeth when she discovered what Benter had done.

Upon his arrival in Las Vegas, Benter took up a job at a convenience store chain, 7-Eleven, earning a meager $3 per hour. Despite this, he gambled everything he had at budget-friendly casinos. He was a lover of science, and he relished seeing the theories he learned on paper come to life in the real world. Probability theory was his constant companion. Even though Benter didn’t win much initially, it didn’t bother him because he had found his calling.

Interestingly, the book “Beat the Dealer” by Edward O. Thorp, a pioneer in blackjack card counting, served as his inspiration. It was this book that intoxicated Benter. The book discusses how to beat the house using card counting in blackjack. Thorp is regarded as the father of this practice.

Card counting in blackjack is used to predict if the next hand could tip the scales in favor of the player or the dealer. The main idea is to watch how many high-value cards remain compared to the low-value ones in the deck. The more high cards (tens, jacks, queens, kings, aces) that are still in play, the better the odds for the player. 

Conversely, when there are more low cards (2s through 6s) in circulation, it spells good news for the dealer.

Undoubtedly, it’s tough, but once you’ve got the hang of it, it’s a sweet victory. You will be able to tweak your bets and strategies to seize any favorable odds. It’s a practice that demands focus, swift calculations, and discretion to pull off.

Partnership with Alan Woods and Move to Hong Kong 

In 1980, Benter found himself on the job hunt; perhaps the $3 an hour wasn’t cutting it anymore. Right around then, as he was shooting off job applications, his pals connected him with someone who’d end up altering the course of his life — Alan Woods. Woods was the head honcho of an Australian card-counting team that had just landed in Las Vegas. 

Woods had a way with words, even boasting about how he’d managed to sneak past airport security in Manila with $10,000 tucked away in his underpants (maybe they were SpongeBob SquarePants themed, who knows?). Benter was seriously impressed and decided to join the team.

Before he knew it, he was so much of a winner, pulling in over $70k a year. Woods ran a tight ship, setting strict rules for the team. For instance, no alcohol on duty to avoid letting their guard down.

You know how it goes: step out of line and you’d be kicked out, roughed up, or even drugged. Benter wasn’t thrilled about these “consequences”. He believed he was just playing his cards right, not conning anyone.

One day, Benter came face to face with these “consequences.” It all started with a tap on the shoulder from a Russian-level tough guy before being hauled off to a backroom and plonked into a chair where he was pressured to hand over his ID. He held out at first but eventually caved.

After that ordeal, which took place around 1984, Benter, Woods, and the rest of the crew found their names in the black book, right next to thieves, swindlers and other criminals. They were lucky, really lucky, not to have met the same fate as Thorp, who almost got killed. The casinos were off-limits to them now. They had to think fast. The hunt for an alternative was on. After all, Vegas isn’t the only gambling hotspot in the world. Hong Kong was the next promising prospect on their radar.

Development of the Horse Racing Formula 

Alan Woods and Bill Benter shared a passion for horse racing, which led them to explore the potential of applying mathematical principles to betting on races. 

Benter found his eureka moment in the quiet corners of a library. He chanced upon an academic paper. The paper convincingly argued that horse race outcomes could be predicted more accurately by rigorously analyzing various factors, such as horse performance and track conditions. This was the breakthrough Benter had been searching for. Almost overnight, he immersed himself in learning coding (on those good old green-screen computers) and advanced statistics.

Woods was the first to make the move to Hong Kong and sent Benter a dataset of past horse racing results. Benter dedicated nine months of his life to studying them and developing code. Hong Kong, with its thriving horse racing market, large betting pools, and parimutuel betting system, provided the perfect playground for their algorithmic approach to betting. The absence of restrictions on their betting methods further intensified the “perfect” aroma.

In the third quarter of 1985, Benter boarded a flight to Hong Kong with three IBM computers in his possession.

Benter and Woods rented a tiny, quirky apartment in a skyscraper to set up an office. Benter’s initial algorithm churned out inaccurate predictions, albeit Woods, with his expertise and experience with the Hong Kong tracks, helped iron out these errors. 

Benter would often be found glued to the computer. He tirelessly worked on refining his algorithm, tweaking stuff based on his observations and analysis of race outcomes.

The duo placed their bets using a telephone account at the Hong Kong Jockey Club and watched the races on TV. The Hong Kong Jockey Club was the largest horse betting pool in Asia at the time. In between races, Benter would grapple with statistical conundrums.

Success and Earnings 

Before the windfall, you know, there are setbacks. Almost a year after Benter arrived in Hong Kong, he and Woods had lost $120,000 of their $150,000 bets, “guided” by the model. Benter returned to his old stomping grounds, Las Vegas, in a futile attempt to secure investment for their bankroll. When the duo reunited in Hong Kong in September, with their financial situation somewhat improved, Woods had a different proposition: he wanted 90% of whatever they made in their partnership. That didn’t fly.

The investors Benter approached in Las Vegas were willing to back him in blackjack but not horse racing. He and his new team of card counters turned their money into hundreds of thousands of dollars. He continued to work on the racing model in his leisure time. 

Benter returned to Hong Kong in September 1988 to find Woods living large, hiring people to refine his code. It was working, as it was bringing in money for him. The beef between the duo remained; they did not speak to each other.

Benter was determined to make the model more mathematically accurate, so he decided to add more to the roughly 20 inputs it was already accepting. He added factors including temperature and the number of rest days since a horse’s last race. The temperature variable was a bust, but the number of rest days since a horse’s last race and others proved successful. That year, the model netted Benter $600k.

Over time, Benter realized that using the publicly available betting odds as a starting point and then distilling them with his private algorithm strikingly improved profitability. This strategy brought him about $3 million in the 1990 to 1991 season. Benter was raking in millions, with his annual returns reaching staggering heights. 

The following year, the Hong Kong Jockey Club phoned Benter, surprisingly, to commend him (he still had PTSD from the tap on the shoulder by the Russian-level tough guy). 

Woods made about $10 million from his own version of the model a couple of years later and splurged on a Rolls Royce. Benter, ever the savvy investor, purchased a portion of a French vineyard. However, they both couldn’t keep their riches under wraps. Sadly, the former business partners went a decade without speaking.

Benter’s success wasn’t just measured in dollars. It was also measured in the impact he had on the gambling community. His name became synonymous with innovation and profitability, solidifying his reputation as one of the most successful gamblers of all time. Even Woods admitted in an interview that his rival’s model was the best. But the two men couldn’t bury the hatchet. They kept making money. Benter’s operations generally generated about a billion dollars.

Through relentless dedication and a comprehensive knowledge of data, Benter remodeled professional gambling. His ability to consistently outwit the system and deliver remarkable returns set him apart, earning him a place among the elite few who have mastered the crazy game of betting.

On Jan. 26, 2008, Woods lost his battle with cancer at age 62.

Philanthropy and the Benter Foundation 

Beyond the world of gambling, Benter is known for his philanthropic endeavors. He channels his wealth into various causes aimed at improving education, healthcare, and the arts. Benter’s philanthropic activities extend globally, with a focus on initiatives that have a meaningful and lasting impact on communities.

In 2007, Benter established the Benter Foundation, a charitable organization dedicated to addressing pressing social issues. The foundation’s focus areas include those mentioned before.

Personal Life 

Benter found happiness in marriage to Vivian Fung in 2010, whom he met in Hong Kong. Together, in 2015, they had their first son, Henry. Currently, Benter resides in Pittsburgh, where he balances his professional pursuits with family life. Despite his immense success and wealth, Benter remains grounded, finding fulfilment in the love and companionship of his family aside his achievements.

Concluding With Maths 

You know, it’s a bit similar to when you’re trying to solve a complex equation. You’ve got all these variables, and you’re sure you’ve accounted for everything. You’re just about to solve it, and then you realise you’ve forgotten to carry the one! It’s a facepalm moment, nevertheless, it’s also a reminder that even in the world of numbers, things can get messy.

What I am unhappy about is that the two friends never managed to mend their fences. When you take a step back and look at the bigger picture, each party played their roles well in the development of the model. Yet, they never got to raise a toast together in celebration of their accomplishment. 

Let’s not allow this melancholy to overshadow the fact that Benter, Woods, and everyone else involved truly shook the horse racing and gambling industry. The story serves as yet another testament that the system can indeed be challenged. Emphasis on “can,” as it might not always be feasible.

Forget investing in stocks or playing the lottery – the real wild ride is in the world of sports betting. These aren't just stories of lucky people winning big but tales of incredible intuition, nerves of steel, and sometimes a whole lot of crazy luck! Let me introduce you to the 20 biggest sports bet wins ever. 

1. Billy Walters: $3.5 million

Before his legal troubles, Billy Walters was basically the king of sports betting. He was so notorious that bookies were terrified to take his bets. One of his most legendary wins was $3.5 million on the New Orleans Saints winning the 2010 Super Bowl – that's when they were the underdogs, mind you.

The actual amount he walked away with is a mystery, but let's just say it probably makes my annual salary look like pocket change.

2. Vegas Dave: $2.5 million

Vegas Dave (aka Dave Oancea) isn't afraid to go big. This guy once dropped $20,000 on Holly Holm to beat Ronda Rousey, an upset for the ages. He pocketed a sweet $200,000. Then, in a legendary move, he bet $140,000 on the Kansas City Royals to win it all... when the odds were 30/1. Talk about nerves of steel! Naturally, he walked away with a cool $2.5 million. Guess even a seasoned gambler like me could learn a thing or two. 

3. Horse Racegoer: £1.5 million

An anonymous bettor in the UK got incredibly lucky with a horse racing bet known as the Jackpot. This requires picking the winner of six consecutive races – a feat so difficult even seasoned horse enthusiasts would scoff. Against all odds, this bettor did the impossible and was the only person to get all six picks correct. The result? A jaw-dropping £1.5 million payout (about $2.07 million) would make me want to retire on the spot.

4. Drake: $1.7 million

Drake has a... shall we say, mixed track record with sports betting. But in January 2023, he took a big swing, betting $916,147 on the Kansas City Chiefs to beat the Cincinnati Bengals. It turns out that sometimes celebrity bets pay off! With odds of 13/15, Drake walked away with a hefty (and some would say risky!) win of over $1.7 million. 

5. Steve Whiteley: £1.5 million

This 61-year-old heating engineer got a free ticket to the races and decided to drop a whole £2 on a six-horse accumulator. That's the kind of bet where you need every single pick to win. One of those horses hadn't won a major race in 28 outings! You've got to respect the boldness. That boldness (and, let's be honest, a truckload of luck) turned into £1.5 million for Steve.

6. James Adducci: $1.2 million

Tiger Woods hadn't won a major championship in a long, long time... like 11 years long. But James Adducci believed. So, this brave soul put down $85,000 on Woods to win the 2019 Masters. Talk about a gamble! Now, I'm a fan of a good underdog story, but I might've even hesitated about that one. Naturally, Tiger pulled off a legendary comeback, and Adducci walked away $1.2 million richer.

7. Fred Craggs: £1 million

Fred Craggs, a fertilizer salesman, strolled into his bookie with a 50-pence accumulator bet (that's multiple bets rolled into one). He had a hunch about horses halfway around the world. And guess what? He nailed it! If only I were so lucky on my measly football bets. Craggs turned that tiny bet into a whopping £1 million. Not bad at all, eh?

8. Mike Futter: £800,000

Sometimes you just gotta believe in yourself... or in your horse. Mike Futter gambled on his racehorse, Monty's Pass, in a big way. Through a series of bets, he turned his faith in his horse into a life-changing payday. First, he scooped up £348,000 as the owner of the winning horse, then a cool £400,000 more thanks to his lucky bets.

9. Charles Barkley: $800,000

Turns out, Sir Charles isn't just a basketball star but also has some serious betting chops. He boldly predicted that the New England Patriots – 14-point underdogs at the time – would win the 2002 Super Bowl. Okay, maybe I should try betting against the teams Charles picks... Anyways, his $500,000 bet paid off with a sweet $800,000 return. 

10. Liverpool Fan: €683,738

In 2000, an incredibly lucky (and anonymous) bettor placed a €1 accumulator bet on Liverpool beating Chelsea. Not that impressive, right? Hold on a minute. For them to win, they needed Liverpool to score a late goal and overturn Chelsea's lead. With odds at 683,738-1, this person must've had a lucky horseshoe in their pocket. Against all expectations, Liverpool DID score, handing the bettor a staggering €683,738 payout. 

11. Darren Yates: £550,000

Back in 1996, Darren Yates placed a bet that would send his name into horse racing legend. He wagered £62 on jockey Frankie Dettori, winning all seven of his rides that day at Ascot. Known as the 'Magnificent Seven,' Frankie pulled off the impossible (with a little help from his horses, of course). Yates cashed out a sweet £550,000 – more than my house is worth, I bet. 

12. Mick Gibbs: £500,000 

Mick Gibbs sure knows how to make an entrance on this list twice! This roofer hit the betting jackpot the first time with a 15-leg accumulator bet at an incredible 1,666,666/1 odds. It turns out that he won another £500,000 on a 30 pence bet after Bayern Munich's goalkeeper made an epic penalty save that secured his victory. I guess his roofing job isn't looking so glamorous now, is it? 

13. Phil Mickelson: $440,000

Pro golfer Phil Mickelson was far from a safe bet for the 2000/01 NFL Super Bowl. But that didn't stop one dedicated fan from taking a $20,000 punt on the Ravens – at decent odds of 22-1. Sometimes, those big bets on your favorite teams pay off in ways lottery tickets never will! As the Ravens won, our lucky bettor became $440,000 richer.

14. Erick Lindgren: $340,000 

Professional poker players aren't usually known for their golfing prowess... or are they? It turns out that a group of pro poker players bet Erick Lindgren that he couldn't play four straight rounds of golf, carrying his own clubs, in the scorching Las Vegas heat – AND score under 100 on each round.

Spoiler: He nailed it. Lindgren pocketed $340,000 for proving them wrong, while I just get sunburned when I try to golf. 

15. Richard Hopkins: £165,000

This one's a long-game win. Richard Hopkins had a hunch about this talented kid he saw go-karting – some guy named Lewis Hamilton. He placed a series of bets: £200 on Hamilton winning a Grand Prix before age 23, £100 on a World Championship by age 25, and another £50 on both happening. Fast-forward a decade, Hamilton was crowned Formula 1 champion, and Hopkins walked away with a cool £165,000.

16. Peter Edwards: £125,000

This one is heartwarming and a little bit crazy. Peter Edwards, a loving grandfather, bet that his 15-year-old grandson, Harry Wilson, would one day play for Wales. Talk about long-term thinking! Lucky for him, he lived to see his grandson suit up for the national team and pocket £125,000 from that £50 bet. Wish I'd placed a bet on myself to be slightly less bad at fantasy football…

17. Tayla Polia: $105,000

Tayla Polia only had one bet under her belt before pulling off a mind-boggling NFL 15-leg parlay. Now, I barely understand regular bets, let alone parlays with 15 picks! With odds stacked at 20,000-1, she turned a tiny $5 wager into enough cash to make me weep with jealousy – $105,000. Let's just say her betting career started way better than mine.

18. Nicholas Newlife: £101,840

Nicholas Newlife bet on Roger Federer's future victories a whole decade before his seventh Wimbledon win. Sadly, he passed away before seeing his bet pay off. But here's the inspiring part – his winnings, £101,840 from a measly £1,520 bet, were generously donated to the charity Oxfam. Even in his absence, his bet made a difference.

19. Adrian Hayward: £25,000

Here's one for all the passionate football fans out there. Adrian Hayward, a die-hard Liverpool supporter, put £200 on Xabi Alonso scoring from his own half... at odds of 125-1. Now, that's the kind of bet only a true believer, or someone utterly insane, would make. Naturally, Alonso shocked everyone by scoring that long-range goal and securing Adrian a whopping £25,000 payday.

20. Leicester City: £29,000

Here's a heartwarming one! Leicester City was the ultimate underdog in the 2016 English Premier League, starting at odds of 5,000-1. One super-optimistic, and possibly slightly insane, fan saw something no one else did and threw down £100 on his beloved team.

As Leicester defied all logic and marched toward victory, our brave fan cashed out his bet and pocketed an incredible £29,000! While he didn't get the full potential payout, sometimes cash in hand is better than a long-shot dream. 

Conclusion

So, there you have it - 20 biggest sports bet wins ever. A glimpse into the world of sports betting where people like Billy Walters, Tayla Polia, and Fred Craggs turned bold bets and a bit of luck into fortunes. Maybe, just maybe, there's a little bit of that beting magic out there for the rest of us too. Now, if you'll excuse me, I think I'll start scanning the odds for some potential long shots...

Billy Walters is like the Michael Jordan of gambling, but instead of dominating on the basketball court, he's been crushing it at the sportsbooks for decades. Let us have an inside look at one of the most successful and controversial sports gamblers of all time.

Billy The Hustler

Billy's story is straight out of a Hollywood movie. Born into poverty in rural Kentucky, he was raised by his grandmother without even indoor plumbing. But from a young age, he showed an uncanny knack for hustling and competition. By the time he was nine, he was already making bets on the World Series and sharpening his pool-hustling skills. You could say the gambling bug bit him early on.

As a teenager, Billy made a cool $5,000 playing pool – not too shabby for a kid back then! His dad was a professional poker player, and his uncle was a full blown gambler, so it's no surprise that the apple didn't fall far from the tree. After a brief stint as a bookie (which landed him a $1,000 fine for illegal activities), Billy decided it was time to take his talents to the big leagues – Las Vegas, baby!

The Computer Group and the Rise of a Legend

Once in Vegas, Billy joined forces with the legendary Computer Group – a syndicate that was ahead of its time, using data analysis and algorithms to gain an edge in sports betting. This was like the Moneyball of gambling, and Billy was right at the forefront of it.

But it wasn't all smooth sailing. In the 80s and 90s, Billy found himself the target of multiple indictments for conspiracy and illegal betting activities. Can you believe that? Getting arrested for doing something that's now perfectly legal in many states? Talk about living in the dark ages!

Despite these legal hurdles, Billy's reputation as a betting mastermind only grew stronger. He developed a proprietary system that allowed him to consistently beat the odds and rake in millions year after year. We're talking about a 36-year winning streak!.

The Secret Sauce

So, what's Billy's secret sauce? Well, he's not just your average Joe throwing darts at a board. Billy's approach is all about meticulous analysis and attention to detail.

For starters, he assigns numeric values to every single contributor on an NFL team, from the star quarterback to the backup long snapper. Then, he factors in all sorts of variables – home-field advantage, weather conditions, travel schedules, you name it. It's like he's running a NASA simulation before every game.

But wait, there's more! Billy also has a team of analysts providing him with independent data and insights. He takes all that input, mixes it in a secret sauce (probably not actual sauce, but who knows?), and comes up with his final prediction. It's like having a team of Rain Men working for you, minus the Vegas casino scene recreations.

And when Billy's confident in his analysis, he doesn't hold back. We're talking about bets in the millions like the time he wagered a cool $4.5 million on the Saints covering a 7-point spread against the Colts in Super Bowl XLIV. Spoiler alert: the Saints didn't just cover; they won outright, and Billy walked away a very happy (and very rich) man.

The Phil Mickelson Saga

Now, no Billy Walters story would be complete without mentioning his complicated relationship with golfing legend Phil Mickelson. According to Billy, the two had a 50-50 gambling partnership going for years, with Phil placing massive bets through offshore sportsbooks.

But things took a turn when Billy was convicted of $40m insider trading in 2017. He claims that if Phil had testified at his trial, he could have avoided prison time and the subsequent family tragedy of his daughter's suicide. Ouch, heavy stuff.

And then there's the bombshell allegation that Phil once asked Billy to place a $400,000 bet on the Ryder Cup team that Phil was playing on! Can you imagine the audacity? Luckily, Billy talked some sense into him and avoided what could have been a career-ending scandal.

The Gambler's Guide to Life

Alright, enough with the drama – let's get back to the good stuff: sports betting tips from the master himself! In his book "Gambler: Secrets from a Life at Risk," Billy dedicates two entire chapters to his betting system, which he calls the "Master Class" and "Advanced Master Class."

For the newbies out there, he covers the basics like power ratings, betting strategies, and money management. But for the seasoned vets, he dives deep into the nitty-gritty details of handicapping, from player valuations to game-specific factors like turf types and stadium quirks.

And here's a pro tip from Billy himself: stay away from those tempting parlays and teasers! According to the man, those bets are designed to drain your bankroll and line the pockets of the sportsbooks. Stick to good old-fashioned straight bets, and you'll have a much better chance of coming out on top.

Billy Walters & The Future of Sports Betting

As sports betting becomes increasingly legalized across the United States, Billy Walters couldn't be happier. After decades of operating in the shadows and facing legal battles, he can finally share his wisdom with the masses without fear of repercussions.

And let's be real, with millions of new bettors flooding the market, there's a dire need for some good old-fashioned guidance from a true OG like Billy. After all, who better to learn from than a guy who's made (and lost) fortunes at the sportsbooks?

So, that is all about the life and mind of Billy Walters, the sports betting expert extraordinaire. Whether you're a seasoned sharp or a casual fan looking to get in on the action, there's plenty to learn from this gambling legend. Just don't ask him to place any bets on competitions he's actually playing in, okay? That's a line even Billy won't cross.

The key to a good sports bet is managing your risk. That’s why teaser bets can be appealing. They offer a way to change the point spread, improving your odds of winning the bet. Of course, this comes at a price. Namely, you’ll get a worse payout. Let’s look closely at teaser bets, why gamblers use them, and whether they are a good strategy. 

What Is A Teaser Bet? 

Teasers are a way to customize the bet, boosting your odds of winning. As your odds change, so will your potential payout. Teasers are mostly used to give you a better point spread. This gives you a better chance of winning the bet. But it also reduces the payout you’ll get. 

How A Teaser Bet Works

Now that we know the basics of how these bets are used let’s turn to the nitty gritty details. First, you’ll need to combine multiple bets. Most sports betters require at least two bets for a teaser. This can be two bets on the same game, like a point spread and an over/under bet. Or you can bet on multiple matches within the same sport. 

Once you’ve selected your bets, you can start shifting the point spread. Just be aware that this will impact your other bet. The most common example is using a teaser to give yourself a better point spread. If the second bet was an under/over, the odds will also be adjusted, giving you a better chance of winning. The more bets you include, the more you will stand to gain. 

Pushes And Teaser Bets

There is another area that you need to consider. That’s what happens if your bet gets pushed. This can happen if your team/player wins by the exact number offered by the sports betting company. For example, you thought that your team would win by more than 10 points. The betting company thought your team would lose or they would win by less than 10 points. They won by exactly ten points. In essence, the bet is a tie. 

Since neither side has won, your bet will be pushed. The amount you bet on the game will be refunded. How this works with a teaser bet can vary. If the teaser only has two bets, and one of them is pushed, the whole bet is off. However, if you have three or more picks in your teaser, there is still hope if one or two push. As long as the majority of your bets stand, the whole wager is valid.

However, the payout will be adjusted to reflect the changing odds from the pushed bets failing. Thankfully, there is a simple way to make sure your teaser doesn’t get pushed. Just make sure that the point spread ends in a half point. Since the score is always a whole number, your bet can’t be pushed. 

Teaser Bet Payouts

As you are adjusting the bets, you’ll notice that your potential payout is shifting. Stacking the odds in your favor will reduce the amount you can earn. The good news is that most reputable sports bet operators use fixed odds. This makes it easy to figure out how the teaser will shift your payout.

As a general rule of thumb, a two-bet teaser adjusted by six points would give you -110. Seven-point teasers deliver lower payouts, around -135. Thankfully, the odds get even better once you start to bundle more bets together. A three-bet six-point teaser tends to give you +160. A three-bet seven point teaser will give you +120. 

Teaser Bet Examples

This concept can be a little confusing at first. But looking at an example should help clear things up. Let’s say that you are an NFL fan and are looking at a showdown between the Broncos and Cowboys. You think that the Broncos can beat the Cowboys. You also think the Dolphins can beat the Kansas City Chiefs.

Initially, the odds for the Broncos are +3.5, and the Dolphins are -1.5. You decide to play a six-point teaser. The Broncos go to +9.5, and the Dolphins rise to +5.5. You put on your bets and tune in to the game. The Broncos win the game outright.

The Dolphins end up losing, but they keep the game within two points. That means that your teaser has won. If the Broncos had won and the Dolphins had lost by six points or more, though, it would have been a different story. You would have lost the teaser bet.

How much you can change the point spread often depends on the competition and the sports betting company. Six to seven point teasers are common for NFL games. On the other hand, basketball usually only offers a four to five point tease. 

Teaser Vs. Parlay Bet

At first glance, teaser bets can sound similar to parlay bets. Both require you to combine multiple bets into a single wager. Both are quite risky, where losing a single bet will cause you to lose the entire wager. The big difference is that only teasers will allow you to change the point bet spread. Gamblers taking parlay bets accept the spread offered by the sportsbook. But, in exchange, parlays will offer a higher payout than teasers. 

Are Teaser Bets Worth It? 

It’s easy to understand the appeal of teaser bets. In theory, reducing the point spread will boost your chances of winning. But teaser bets have a nasty catch. You’ll need to bundle multiple bets together. This will cause your odds of winning to drop.

Often, the reduced chance of winning multiple bets negates any advantage you gained from lowering the point spread. Because of this, teaser bets tend to be losers over the long term. 

Teasers are inherently risky. But a few tips will boost your odds of winning. First, there are some occasions when they should never be used. In particular, be careful around basketball games and college football matches. These tend to have wide point disparities.

This will negate the advantage you get from a lower point spread. Next, you need to know the sport you are teasing to find where the key levels will be. For example, in the NFL, it’s common for a game to come to three and six-point margins, the amount awarded to field goals and touchdowns. If a tease can help you swing the points spread through these key levels, it might be a wise idea. 

Conclusion

In sports betting, getting a favorable point spread is key. That’s something that teasers can help with, allowing you to tip the odds in your favor. But there is a catch. By combining multiple bets, you’ll be taking on more risk. Ultimately, though, whether teasers are right for you depends on your gambling style. 

Betting on soccer isn’t just about mindlessly throwing money on your favorite team; rather, it requires strategic planning. Don’t worry; it’s not “That” complicated; you just need time to understand a few basics.

Soccer aka football (in English version), is super popular worldwide with 3.5 billion fans. It started over 3000 years ago with the Aztecs playing a game called Tchatali. Over time, it evolved and became big in Europe, and now millions of people love watching and playing soccer because it’s fast, unpredictable, and brings people together.

Betting on soccer started off as informal wagers but later bookies made venues and places where betting could take place in an organized way. Because these spots got really popular, rules were put in place by the bookmakers to make sure bettors were safe from any tricky business.

The gambling industry saw a substantial increase in revenue because of sports betting. This only serves as further evidence that football/soccer is among the top renowned sports.

For some, it’s a hobby, while others take betting more seriously. With online betting at its peak, soccer fans can turn their love for the sport into some extra cash. But before you empty your wallet on some random wager, check out the best tips and tricks that guarantee an ultimate win!

5 Tips and Strategies for Betting on Soccer

When it comes to betting your precious money…don’t push it all on luck.

Here’s a list of five tips and strategies for betting on soccer:

1. Three-Way Bets

Soccer distinguishes itself from other sports in terms of its moneyline. For instance, most other sports will consist of only two choices. These choices are everyone’s favorite and the underdog. Nevertheless, Soccer matches also have the possibility of ending in a tie.

Hence, the moneyline in soccer has a third possibility. This is also known as the “Three-Way Bet”. Most bet placers do not pay much thought to three-way bets. However, a common opinion is that many gamblers would side with one team and not go for a draw.

This means that they have left themselves vulnerable to games that would end in a draw. Many soccer matches indeed tend to end in ties.

2. Draw No Bet

It is only natural to feel a bit scared of three-way bets, and Draw No bet is specifically for those who want to play slightly safer. These bets are often referred to as “Two-Way Bets” and follow the common aforementioned moneyline.

Normally, if any match ends in a tie, the bet you have placed is returned to you and you will only take the fall if one of the teams you picked just loses.

Draw No bets are usually safer because you do not lose in case of a draw. Nevertheless, the drawback is that you have to play comparatively worse odds.

3. Learn About All Betting Markets

Soccer betting is a highly saturated market, just like any. Experts recommend that you shouldn’t jump right into betting, but first, learn the basics and even the markets. Knowledge is indeed power. This will help you avoid any rookie mistakes that might cause you a loss.

Overall, soccer betting is the same throughout various markets. Only on some occasions will you come across Three-Way bets. Normally, soccer follows the standard two-way moneyline and you can bet on a team that has a good track record.

This further explains the fixed nature of soccer - odds remain the same throughout the game.

4. Track Your Bets

Bookkeeping is a really smart strategy to adopt when it comes to bookies aka betting on soccer games. Essentially, what it does is let you track how much money you are spending and what your profits and losses are.

Once you start placing wagers, you get carried away by the process. To cover your losses, you keep placing more wagers. In the end, you are not left with enough money to pay your bills. You must learn to manage your bankroll effectively.

Keeping track of how teams perform and their history is key to winning. When you have all the data, like a team’s wins and losses, injuries during games, and the latest news from the locker room, you’ll have the secrets to improving your chances of winning.

5. Follow a Tipster

If you are just starting out or have little knowledge about gambling, then you might refer to a tipster for advice. But mind you, that comes with a good price. You have to pay that person a commission.

You’ll be surprised by what these tipsters can bring to the table. Having immersed themselves in sports for an extended period, they have transformed themselves into experts in the field. With their reliable insights and predictions, you can snag faster and bigger wins.

However, you gotta be careful when choosing a tipster. It’s a lot easier to find a tipster but a lot harder to separate the real ones from the fake ones. When it comes to gambling, a quick decision is never such a good idea.

Take as much time as you want. Do your research. Talk with your friends and community, and search reliable sources online. 

The UK and the USA have some of the best tipsters around.

Another thing you should be aware of is that you're not gonna get any refunds from these tipsters. So, be careful while choosing the right guy for the job. They might take you to your biggest win or drown you in a sea of debts.

Conclusion

Now you know all the easy tips and strategies for betting on a soccer game. Betting on soccer is as addictive as watching soccer for many. However, it requires you to use your brain power a little.

Always start with smaller bets and if you're a total amateur, you can always use the services of a reliable tipster. In addition, never bet on your favorites, you’ll certainly lose big time.

Identify and track market trends and team progress. The condition of players and changes in strategies by the coaches also affect your wager in a big way. You can either go for three-way bets or remain a bit cautious with draw-no bets.

Even if you're the luckiest person on the person, relying solely on Lady Luck ain't such a wise idea. Remember, if you're there to gamble, learn to do it right and responsibly!