Our ‘Sports Betting How To’ Series — Pregame Vs. Live (In-Play) Betting
Video Transcript Below
Pregame Vs. Live (In-Play) Betting
Our ‘Sports Betting How To’ Series, explains the common questions around how does sports betting work? — this section covers Pregame Vs. Live Betting.
Specifically, understanding the difference between pregame & live when it comes to strategy for sports betting.
Andrew Pace
Andrew is a Multi-Millionaire, Professional Sports Value Analyst & the Creator of inplayLIVE — an online program & community that teaches how to invest on live sports through the art of value wagering. He’s taught thousands of students to successfully beat the book and go on to reach 5, 6 and 7-figure profits.
Video Transcript
Ritzker: Tell everyone a bit about how your wagers are different from that of a recreational bettor, or a mug bettor, or a pregame bettor.
What do you do differently with your money?
Pace: Right. So I think first and foremost, when it comes to recreational or entertainment betting, I just want to get this out of the way - it's fun. There's nothing like being in this room (because this is where the magic happens for me - as you can see the screens in the background) on a Sunday with all my buddies, and I'm cheering for my teaser.
I'm, I'm human, I love football and I love making some mug rec parlays teasers, just to cheer for the action.
And the thing is, throughout the last decade, I've become a lot smarter when I'm hitting those even at a higher clip, but I still don't consider that to be my bread and butter or how I generate an income by any means.
I think when it comes to a recreational bettor, one of the biggest things that they do is they don't concern themselves with price.
They don't concern themselves with the number that they're looking at and you see it constantly in that room of people, watching the NFL or any other sport for that matter.
Let’s look at this mentality using the Chiefs as an example - the Chiefs are up 7-0 now, and you don't care what the spread is - you just try to get a bet in. You just want to get it in it now before they score again. That’s rec betting.
That mentality profits Vegas in the sports books hugely.
So I think it goes without saying that kind of betting is just plain stupid.
Now if you're a recreational or entertainment bettor, and you're doing that, you don't need to stop necessarily- you only need to stop if it's a problem.
To me, if you're spending money on that kind of stuff, as long as you have a budget and as long as you stay disciplined and you don't break that budget, that's no different to me than going to see a movie.
It's entertainment, period.
As long as you're comfortable with the risk and 100% okay with consistently losing your money over time - cause that's what you will do.
And then obviously where we differ from there or where we differ from a pre-game professional, who's actually sharply found a great line...
We might bet on the same line as the pregame pro does - you can see our results videos on YouTube at any time, which we're constantly posting updates to. You'll see that we do bet pregame. Right? We get an average price typically of 2.14 versus the typical -1.10 or -1.9.
But most of our bets are in-game bets - bets in real-time, on live sports. Not pregame.
We do tend to like underdogs, but then really what it comes down to is when money is poured, into one particular side of the game, the inplay wagers that are available to us become that much more appealing, especially when the underdog is competing. Right. If the underdog is in the game or ahead - that's where, it's where we can really, you can make game changing money in a really short period of time.
There are games where I am wagering $250 per unit, and I walk away from that one game with $18,000. It's happened this season already twice.
It happened last season, about four or five times. Those are the, those are the great games, right? Yeah. It happens. Right.
So yeah. Well, I think part of that too, is like a lot of people fall into the trap of thinking that every single game has to be a part of the plan right now, especially the last couple of weeks you've talked about eliminating games from your schedule and narrowing them down.
Even if, if you're a recreational bettor knowing that like, “Hey, maybe this game is not a good one to bet on, I have no idea what's going on here” and getting a feel for that. That's kind of an important part too. There's something about NFL in particular. I think college is the same, but the NFL is a bigger market and a better product you could argue - it's more profitable, et cetera, et cetera.
The way the day is organized caters itself to degenerate public sports betting. You string together a morning, parlay you miss the afternoon starts.
And like you said, you stop being selective. You feel like you have to take, we feel like you have to take that next game double down. Right.
What do you like in the Lions Cardinals this week? I don't know - but I’m betting it. And you just add it to your ticket, right? We've all done it.
And the NFL caters itself towards those chasing opportunities. And then finally Sunday night hits and you're either stringing it with the Monday night or, or you're stringing it with the over in the under, and you're betting way bigger than you did in the morning.
And you've completely screwed up this whole idea of trying to make money in a day. And you're just trying to dig yourself out of a hole. And if you don't for some people that are probably listening to this right now, you know, you've experienced it.
You go home and you're fucked. Right? So that's precisely what we want to stay away from.
So definitely we are ridiculously selective on the matches that we wager. And sometimes for me, that means watching an entire game without placing a bet.