If your main goal for sports betting is to win big, you’ll need to be disciplined, patient, realistic, and analytical.
There is no straightforward answer on the most profitable sport since every bettor has their strengths and weaknesses. But if we consider it a numbers game, the MLB and NFL might be more profitable than other sports for bettors.
Let’s take a look at the major league and the number of regular season betting opportunities they present:
- National Football League (NFL) = 256 games during the regular season
- National Hockey League (NHL) = 1,230 games per season/number of teams multiplied by the number of home games for each
- National Basketball Association (NBA) = 1,230 games per season
- Major League Baseball (MLB) = 2,430 games per season
You may not find as many profitable angles with MLB’s number of games. Nevertheless, remember that it still comes down to handicappers giving advantages or point spreads to a particular matchup to equalize chances of winning.
Best Sports to Bet On According to a Specific Type of Bet
Predicting the outcome of a match is not an easy task. There are events more likely to happen than others. That’s why the type of bet you choose matters when calculating probabilities and taking chances.
Methodology: The ROI Formula
The return on investment is a good performance measure to evaluate the efficiency of a betting system. The formula is usually computed by dividing the profit (bet return – amount bet) earned from a sports betting system by the investment cost.
The optimal ROI scores used below were averaged from the most profitable NHL, NCAA, NBA, NFL, and MLB teams.
Best Sports to Bet on the Moneyline
Moneyline bets are the most famous type of sports bet by far. Not only are they easy to understand for beginners, but they are also used as a winning strategy by professional bettors.
The top 5 sports to bet on the Moneyline based on their ROI score are the following:
- College Football 159.23%
- NFL 78.7%
- College Basketball 29.22%
- NBA 13.92%
- NHL 10.07%
Best Sports for Totals Betting (Over/Under)
To win in an over/under bet, you have to predict both teams’ combined scores and pick if the total score will be higher or lower than the number provided by the oddsmakers.
Here are the best sports for over/under bet based on their ROI score:
- College Football 92.97%
- NFL 46.2%
- College Basketball 33.96%
- NHL 13.97%
- NBA 10.82%
Best Sports to Bet Against the Spread (ATS)
Bets ATS on these sports will also lower the risk on your bankroll:
- College Football 97.83%
- NFL 90.2%
- College Basketball 36.91%
- NHL 12.39%
- NBA 10.33%
Why Are Some Sports Popular Among Bettors?
Every year, sports bettors spend billions of dollars during the season. In 2019 alone, the sports betting market was valued at $85.047 billion. Below, we highlight some of the driving forces behind sports betting.
Opportunities to Bet
Different sports events, games, and matchups happen all the time. And because sports appeal to many people, they enjoy placing bets, whether for serious profit or just for fun.
Entertainment Value
Watching sports is fun, but the excitement and rush can be enhanced when you put money on the line. Many bettors say that the actual picking and research is more fun than watching the match itself!
Availability of Information
The availability and accessibility of information make some mainstream sports popular among bettors.
Online platforms like FanDuel are dedicated to offering the lasts news on NFL draft betting and other sports. Not to mention newspapers that extensively cover well-known sports and famous teams, like new Super Bowl champs, the Tampa Bay Buccaneers.
Television/Online Coverage
Live streaming of sporting events has increased the number of sports bettors. Thanks to the constantly changing odds that provide more value as the match proceeds. Bettors may find that the bookmakers’ predictions are not as correct as what their instincts tell them.
In-play betting also increases the bettors’ chance of making better decisions. This is because they can analyze the situations when they see the team’s formation or the game’s intensity as it happens.
Variety of Betting Options
Sports that get extra attention from bettors similarly receive attention from the bookies. And these bookies understand that bettors want various betting options like the NFL draft betting.
Betting on One Sport vs. Betting on Many
In both the online and offline world of sports betting, the number of popular sports is massive. You can bet on one sport or bet on many.
To decide how many sports you should bet on, we’ve broken down the pros and cons of betting on one sport than betting on many.
Advantages of Betting on One Sport
You Can Become An Expert
It’s rare to find a bettor of more than one sport or league who is genuinely knowledgeable about all the sports they are betting. After all, an expert-level understanding takes time to develop.
But if you devote your time to a particular bet like NFL draft betting, it is possible to understand the rules at a high level. This will then increase your chances of beating the bookmakers. Remember, it is essential to match the experts’ understanding is essential to winning consistently.
You Stay Updated On Important Information
It’s great to be interested in different sports, but betting on all of them can be a problem. You have to stay updated with the latest news, suspensions, injuries, and news.
Making sports betting a full-time job might not be on your plan. So, instead of the arduous task of staying up-to-date on 30 teams, why not focus on one sport and find value in it?
You Can Be Aggressive With A Smaller Budget
The third benefit of betting on one sport is making fewer bets. This can be a good strategy, especially for people with a limited bankroll or a beginner in sports betting. At least if you lose, it will not wipe out your finances.
Besides, you can be more aggressive with a smaller budget. Doing so may improve your earnings rate.
We’re not suggesting that you should be reckless. But if your bankroll isn’t changing, your money management approach in the betting industry may be too passive.
Disadvantages of Betting on One Sport
Major Sports Don’t Last All Year
A glaring downfall in betting on one sport is that there aren’t many major sports events and leagues that last a year. The NFL regular, for instance, starts in September (or before because of NFL draft betting) and ends in February with the Super Bowl.
And even if you’re stuck betting on one sport across multiple leagues, these sports seasons tend to be short. Let’s consider the major league hockey in New Jersey. Their regular season runs only from October to April.
You Could Miss Out On Better Betting Odds In Other Sports
While focusing on one sport allows you to become an expert in one field, you may also be missing great opportunities in other sports. This can potentially harm your chances of spotting value.
By betting on more sports instead, you can find better deals. Each online sports betting site provides personalized sports bets for its customers. Taking advantage of these platforms will allow bettors to maximize their value and find the best odds.
Note that neither of these downsides is significant enough to bet on many sports, but they’re still worth considering.
We have come to the end of our brief guide, and we hope you got the value you were looking for. Thanks for reading!
