Understanding Value in Online Sports Betting One of the cornerstones of sports betting success is understanding value. This drives them to constantly analyze lines, search online for competitive odds, and select bets they feel provide good returns each day. Understanding this concept also serves as a gauge for measuring one’s own results while gauging those of others – one way of telling if someone grasps it fully is to ask them to report their wins and losses according to Return On Investment; otherwise this would indicate they lack an understanding of it.
Companies across the United States are scrambling to take their share of billions being wagered on sports games once watched without financial interest. Although some may see this development as beneficial, an influx of new bettors has caused an increase in calls to the National Problem Gambling Helpline Network’s crisis hotline in New Jersey alone; Vin Bickler who leads this division reported receiving 270,000 calls/texts/chats from those seeking recovery, up 45% over 2017.
This trend has resulted in an explosion of online sportsbooks and fierce competition for users. While some have spent millions acquiring users with free bets and other promotions, others take an alternative route focused on improving their product and retaining users over time. ESPN recently joined with Penn Entertainment to rebrand and launch ESPN Bet, while micro-betting platforms like Betr, founded by Jake Paul and Simplebet (now with Nascar backing), as well as micro-betting sites like Betr and Simplebet have attracted consumer interest. Although betting can provide many rewards beyond winning money, consumers must remember that sports betting provides value beyond simply winning more bets; rather it provides insights into value creation through informed bets that are used wisely.