In this Feb. 2, 2020, file photo, Kansas City Chiefs chairman Clark Hunt, right, hands the trophy to head coach Andy Reid after the chiefs defeated the San Francisco 49ers in the NFL Super Bowl 54 football game in Miami Gardens, Florida.
In this Feb. 2, 2020, file photo, Kansas City Chiefs chairman Clark Hunt, right, hands the trophy to head coach Andy Reid after the chiefs defeated the San Francisco 49ers in the NFL Super Bowl 54 football game in Miami Gardens, Florida.|Chris O'Meara | Associated Press
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Advice for bettors: Bet what you know! That and more tips from Mims

You can lose a lot of your bankroll trying to learn on the fly by betting on a sport or game you know little about.

Robert Mims

Robert Mims

The NFL schedule came out last Thursday. There was a large spike in online sports betting as wagers were placed on the total listed wins of each team. The intelligent way to approach this bet is to review the entire schedule and total up your projected win total.

Do not look at the line first.

If your projected total is within 1 of the line you are in the right ballpark. Make sure you look at home and away situations within the division. A smart bettor will look at the history of both teams and see if a pattern is prevalent. Do not go back more than 4 -5 years. If a team has made a major transformation the historical value will not be as relevant. Another factor in making your projections is traveling across country for teams coming from/to the west coast.

Some mobile betting apps will soon include esports. This was coming anyway but moved forward quickly because it can be played practicing social distancing. As of right now no book will take a large wager on any esports match because of the perceived possibility of match fixing. The lack of knowledge about the teams and the sport make the sports book managers nervous.

My advice has always been to stay with what you know. You can lose a lot of your bankroll trying to learn on the fly by betting on a sport or game you know little about.

Some books are offering free to play contests. Most operators will allow you wager miniscule amounts. This way you can get your feet wet without getting hurt.

If you decide that Russian ping pong is not for you and you would rather dabble in casino table games, then use the same bankroll principles that you apply to sports betting. Go to the tables with a limit. If your normal play on an NBA game would be $100, then go to the table with $25-50. The $100 on the game gives you two and a half hours of action whereas the $25-50 at the table will give you any where from 3 minutes to an hour depending on your minimum bet — that’s a big difference!

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