Sports bettors are usually divided into two categories. Most bookmakers fear sharp betters—those select few who gamble on sports for a living. The vast majority of bettors, and favored by sportsbooks, are labelled as squares (for a number of reasons). In general, professional bettors often cash in on over 55% of their wagers. This number dips for recreational players, becase they normally win roughly 48% of their total bets.
Sharp bettors or sharps are often referred to as “wise guys”. They are methodical players who live and breathe sports betting. Sharp bettors bet large amounts of money but do so through smaller bets at a variety of sportsbooks. To avoid drawing attention from bookmakers, sharp bettors often have a crew of money runners (beards) who place their bets for them. Sharps are proactive and they make use of fancy complicated algorithms to predict betting odds on different contests before sportsbooks post their prices.
Pro bettors often bet on opening odds and this may cause bookmakers to adjust the lines after the first wagering wave. If a -3.5 NFL point spread favorite is heavily bet, linemakers could move the odds to -4 to create movement on the underdog side. Sharps are known to bet big on one side, to move a line, so they could also bet higher on the other side. In order to gain maximum odds value, pro bettors usually create more than one account at several sportsbooks.
Square bettors, or also known as “the public,” are casual players who often bet huge impulse bets without doing proper research first. Recreational players often bet on teams they regularly follow without considering the opponent. Going with heart over head is hardly a wise betting strategy.
Squares often disregard important factors, such as current form, injuries and scoring statistics, while placing spur-of-the-moment wagers. Recreational bettors often tend to take points with underdogs and bet over on game totals. Although a huge number of public players are not big spenders, squares aren’t totally characterized by the size of their bets. There are many “famous” people who are squares and bet huge sums of money on major events like the Super Bowl.