Betting
What is a Sharp in Betting?
Discover what a sharp bettor is and how they influence sports betting markets. Learn about the strategies and tools sharp bettors use to maximize profits, and the differences between sharp and recreational bettors.
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A sharp bettor is a term for a professional gambler in sports betting. The sharp, as opposed to the “square”, ekes out a living finding value in sports bets and taking advantage of deals and promotions. A good sharp gambler can also trigger moves in the betting markets.
What is a Sharp Bettor?
A sharp sports betting pro lives and breathes gambling on sport. They make their living from placing bets at retail sportsbooks or online. The boom in regulated sports betting in the US has fuelled a rise in sharp sports gamblers.
Sharps may be part of a syndicate, placing huge amounts on single outcomes. Over the long term, sharp sportsbook bettors can win around 55–60% of their moneyline bets. That compares to 45–50% for casual bettors.
Plus, sharps use analysis and data to come up with optimum wagers. They only place a wager if they have spotted value. Plus, they understand how to make use of new online sports betting tools such as Cash Out.
What is the Behavior of a Sharp Bettor?
Sharp sportsbook bettors want to maximize profits as quickly as possible. They may bet big when a market opens, wait for the sportsbook to react, then visit a rival sportsbook and bet the other way. In effect, they are laying their own bet to secure a profit later on.
Sharps don’t have sentimental weaknesses toward one team or player, unlike recreational gamblers. They simply look out for value in the odds and make plays early enough to take advantage of bookmakers’ prices.
Online Sportsbook Boom Fuels Pro Gambling
Sharps may have accounts at multiple retail sportsbooks. A sharp bettor once used “runners” who moved from sportsbook to sportsbook to place bets – particularly in cities like Las Vegas where there was so much competition.
However, with the boom in legalized online betting, especially in places like the US, it’s easier to place bets. Sharps will open accounts online in states where regulated sports betting websites are a reality.
The perfect storm is to locate themselves near the borders of multiple states that offer regulated online sports betting. That way, sharps can drive over borders and use geolocation to access different sportsbooks depending on what state they’re in
The Impact of Sharp Bettors on the Betting Market
Good sharp money betting experts can affect an entire market. Bookmakers may shift their odds if they see a lot of pro money being dumped on a team.
For example, imagine the online bookmakers open a book on the Super Bowl with the Eagles at -120 to win, with the Dolphins at +250. The sharps betting on the game see value in the Dolphins at +250 and sense the bookmakers have made a mistake.
The bookmakers then react by moving the Eagles’ odds to +100. The Dolphins move in to +180 and the sharp bettor can place a bet the other way to secure a bigger profit.
Differences Between Sharp Bettors and Recreational Bettors
“Squares” are the opposite of sharps. They are recreational bettors who follow their own teams and bet small. They may take advantage of free bet deals, but their overall exposure is tiny compared to the sharp bettor.
Squares’ overall win rate is lower than sharps as they don’t put in the hours of research required. Plus, casual bettors won’t practise good bankroll management to ensure long-term gains.
Online Tools for Sharp Betting
These days, most of the “running” is done online. Pro sharps use sophisticated analysis software tools such as Overlyzer to analyze millions of games prematch. The app also has a special filter that allows pro gamblers to find the most optimum live games to bet on.
A sharp gambler can also cut out the work themselves and use services like ArbAmigo to find the right bets. ArbAmigo processes millions of odds to find the best arb opportunities, that is betting both ways to guarantee a profit.
Downfalls of Being a Sharp
What is a sharp and can you become one? A sharp is a pro who is not afraid to take a downswing but is cautious when placing big bets. They only take the lowest-risk angles and may even bet on sports they have no personal interest in.
Can you become a sharp bettor? The answer is yes, but you must be prepared to have your bets restricted by online sportsbooks. Some retail sportsbooks and casinos may even ban you if they feel you are taking too much profit.
The best way of turning pro is to invest in a small betting syndicate. Oftentimes, you must bring something to the table, i.e. in-depth knowledge of one sport or adeptness at hunting out value at online sportsbooks.
Jon is an experienced journalist and editor working in the gambling industry for over 17 years. He started life as a football betting blogger before being bitten by the online poker bug, eventually becoming editor of some of the largest gambling and poker publications around, including Gambling Magazine and WPT (World Poker Tour) Poker Magazine.
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