The Best Sports Betting Stats: Inform Your Next Bet with Data-Driven Insights

17 min read
Aug 29, 2024, 2:22 PM
Author
Sol Fayerman-Hansen
Sol Fayerman-Hansen
Editor-in-Chief
Last Updated: Sep 12, 2024, 3:15 PM

The Best Sports Betting Stats

Sports betting is not merely a game of chance; it's a disciplined activity that requires a comprehensive understanding of various factors. You may ask yourself sometime, “why is sportsbetting so hard?" Well, it's because the odds are stacked against you, but, by utilizing data-driven insights, bettors can make more informed decisions, increasing their chances of success. Here, we will explore the essential aspects of sports betting, providing actionable tips and responsible strategies to enhance your betting experience.

Understanding Sports Betting Odds

At the core of sports betting lies the concept of odds, which represent the likelihood of an event occurring. Understanding betting odds is crucial for any sports bettor. Odds can be presented in various formats, including decimal, fractional, and moneyline. Each format offers a different way of calculating potential payouts, but the underlying principle remains the same: the lower the odds, the higher the probability of the outcome, and vice versa.

Example: Betting on the Super Bowl
During Super Bowl LV, the Tampa Bay Buccaneers were given moneyline odds of +140, while the Kansas City Chiefs were favored with odds of -160. A $100 bet on the Buccaneers resulted in a $140 profit, as they ultimately won the game. Understanding these odds allowed bettors to evaluate the risk and potential reward before placing their sports bets.

Types of Sports Betting

Sports betting offers a wide array of options, catering to different preferences and strategies. Some of the most common types of sports bets include:

  • Moneyline Bets: Betting on the outright winner of a game.
  • Point Spread Bets: Wagering on the margin of victory between two teams. For example, if the Buffalo Bills are favored by 7 points against the Miami Dolphins, a bet on the Bills would require them to win by more than 7 points to cover the spread.
  • Over/Under (Totals) Bets: Betting on whether the total points scored in a game will be over or under a specified number. For instance, if the over/under for a Chicago Bears game is set at 45.5 points, bettors can wager on whether the total score will be more or less than this number.
  • Prop Bets (Proposition Bets): Betting on specific events within a game, such as a player scoring a certain number of points or the number of touchdowns in a specific NFL game.
  • Futures Bets: Wagering on the outcome of an event that will happen in the future, such as predicting the winner of the next NBA Championship.
  • Parlays: Combining multiple bets into one, with the requirement that all selections must win. Parlays are popular due to their high potential payouts, though they carry higher risk.

Understanding these betting options allows you to tailor your approach to specific situations, whether you're focused on a particular team like the Texas Rangers or interested in the broader trends across major sports.

Sports Betting Databases and Statistics

Access to reliable sports betting databases and statistics is a game-changer for serious bettors. These platforms offer valuable information that can inform your decisions, from team performance to player stats and historical trends. Some of the most popular stats sites include:

  1. Pro-Football-Reference: A comprehensive NFL database with statistics dating back to the league's inception. This site offers data on everything from win/loss records to player efficiency.
  2. Basketball-Reference: Detailed NBA stats, including player performance, team trends, and advanced metrics like Player Efficiency Rating (PER).
  3. Baseball-Reference: In-depth MLB statistics, perfect for analyzing past games and predicting future outcomes. This site includes detailed data on batting averages, ERA, and more.
  4. Hockey-Reference: A go-to resource for NHL stats, covering everything from regular season performance to playoff outcomes.

In addition to the above, there are many popular databases (some free and some paid subscription models) that are used by US bettors and deserve a mention:

General Sports Sites

Sports Statistics Blogs and Online Forums

Baseball Sites

Basketball Sites

Cycling Sites

Fencing Sites

MMA Sites

Football Sites

Golf Sites

Hockey Sites

Soccer Sites

Tennis Sites

These databases provide a wealth of information that can be used to analyze specific teams, games, and betting options, giving you an edge when placing your sports bets.

Example of Team Performance Metrics Across Major Sports

TeamSportWin/Loss Record (2023)Against the Spread (ATS)Over/Under Record (2023)
Buffalo BillsNFL13-411-69 Over, 8 Under
Chicago BearsNFL5-127-1010 Over, 7 Under
Texas RangersMLB92-7085-7778 Over, 84 Under
Golden State WarriorsNBA44-3838-4245 Over, 35 Under
Boston BruinsNHL65-12-556-2641 Over, 46 Under

How to Use Sports Betting Statistics

Sports betting statistics are more than just numbers; they are tools that can help you make informed decisions. Here's how to use them effectively:

  • Identify Key Trends: Look for patterns in team performance, player stats, and head-to-head matchups. For example, if a team consistently performs well against specific opponents, this trend can be valuable information when placing bets.
    • Example: The New England Patriots historically perform well in cold-weather games, making them a strong bet during late-season matchups at home. Betting on them in these conditions might offer better odds than other situations.
  • Analyze Game Props: Game props, such as the number of points scored by a specific player, can offer opportunities for bettors who are well-versed in sports data. By analyzing past performance, you can identify props that offer the best odds.
    • Example: In the 2023 NBA season, Steph Curry averaged 4.9 three-pointers per game. Knowing this, bettors could confidently wager on Curry making over 4.5 three-pointers in a specific game.
  • Evaluate Point Spreads: Point spreads are influenced by various factors, including public perception and recent performance. By using statistics to evaluate these factors, you can identify point spreads that may be off, providing a potential advantage.
    • Example: If a team has consistently covered the spread in recent games, they may be undervalued by bookmakers, offering an opportunity for bettors to capitalize.
  • Leverage Advanced Metrics: Advanced metrics, such as player efficiency ratings and expected goals, offer deeper insights into player and team performance. These stats can be particularly useful in sports like basketball and soccer, where individual performance can significantly impact the outcome.

Advanced metrics can reveal hidden opportunities in sports betting, giving you an edge that traditional stats might miss.

Key Statistics for Sports Bettors

Certain statistics are particularly valuable for sports bettors. These include:

  • Win/Loss Records: Understanding a team's win/loss record, especially in specific situations (e.g., home vs. away games), is fundamental to sports betting.
    • Example: The Kansas City Chiefs have a dominant home record at Arrowhead Stadium, making them a safer bet when playing at home during the regular season.
  • Against the Spread (ATS) Records: A team's performance against the spread can indicate how often they exceed expectations.
    • Example: In the 2022 NFL season, the Buffalo Bills had an ATS record of 11-6, indicating they often outperformed bookmakers' expectations.
  • Over/Under Records: This stat shows how often games involving a particular team go over or under the total points line.
    • Example: The Chicago Bears had an over/under record of 10-7 in 2023, suggesting their games often exceeded expected point totals.
  • Player Props Stats: Individual player performance metrics, such as points per game or passing yards, can inform prop bets.
    • Example: Betting on Patrick Mahomes to throw over 300 yards in a game is often a solid bet, given his average of 308 yards per game in the 2023 NFL season.

By focusing on these key statistics, you can make more informed decisions and increase your chances of success.

Advanced Sports Betting Strategies

For those looking to learn about advances sports betting strategies, these can provide an edge. Some of them include:

  • Arbitrage Betting: This involves placing bets on all possible outcomes of a sporting event across different sportsbooks to guarantee a profit. While it requires significant research and multiple accounts, it can be a low-risk strategy.
  • Value Betting: Identifying bets where the odds are higher than they should be based on your analysis of the game. This requires a deep understanding of the sport and the ability to spot discrepancies in the odds.
  • Hedging Bets: This strategy involves placing a bet on the opposite side of an existing wager to secure a guaranteed profit or reduce potential losses.

Advanced strategies require a thorough understanding of the sports and markets you're betting on, as well as the discipline to stick to your approach.

Common Mistakes to Avoid in Sports Betting

Even experienced bettors can fall into common traps. Here are some mistakes to avoid:

  • Betting on Your Favorite Team: While it's tempting to bet on the team you support, it's essential to remain objective and base your bets on data rather than emotions.
  • Ignoring Line Movements: Betting lines can shift based on various factors, such as injuries or public betting patterns. Ignoring these movements can lead to poor betting decisions.
Line movements can indicate where the smart money is going. Ignoring them can be costly.
  • Overconfidence in Trends: While trends can be useful, they are not foolproof. Always consider the broader context and other factors that may influence the outcome of a game.
  • Betting Without a Strategy: Randomly placing bets without a clear plan is a recipe for disaster. Develop a strategy and stick to it, even during losing streaks.

The Future of Sports Betting

The future of sports betting is likely to be shaped by continued technological advancements and changes in legislation. As more states legalize sports betting, the industry will become more competitive, leading to better services and options for bettors. Additionally, the integration of artificial intelligence and machine learning into sports betting platforms will provide more sophisticated tools for analyzing data and making informed bets.

Example: AI in Sports Betting

Some sportsbooks are already utilizing AI to offer personalized betting suggestions based on a user's betting history and preferences. For example, a bettor who frequently wagers on NBA games might receive AI-driven insights into specific player props or game outcomes, enhancing their betting strategy.

However, with these advancements comes the need for increased vigilance in responsible gaming. As betting becomes more accessible, it's crucial to promote responsible practices to ensure that sports betting remains a form of entertainment rather than a source of harm.

Conclusion

Sports betting can be an exciting and dynamic activity that can be enjoyed responsibly with the right approach. By understanding the odds, utilizing statistics, and adopting advanced strategies, bettors can make informed decisions that enhance their betting experience. However, it's essential to maintain control, avoid common mistakes, and always prioritize responsible gaming practices. The future of sports betting holds exciting possibilities, and by staying informed and disciplined, you can navigate this evolving landscape with confidence.

<p>With 20+ years of writing experience across sports, gambling, regulation, technology, and startups, Sol brings a broad understanding to his role as Editor-in-Chief at RG. His work provides clear, factual information to help readers make informed decisions about gambling. Sol’s approach is about transparency and research, so the content at RG is straightforward, evidence-based, and accessible.</p><p>At RG, Sol keeps the focus on the reader by maintaining a standard of reliability and integrity in the information shared. Under his editorial direction, RG aims to provide practical insights into sports and sports entertainment that support a balanced and informed approach. Sol’s approach has helped RG become a go-to source for readers looking to engage responsibly and thoughtfully in the industry.</p>
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Meet our Authors

Paruyr Shahbazyan started his business career as an entrepreneur in 2000. Over 13 years, he learned business and leadership, which laid the foundation for his career.

In 2013, Paruyr entered the sports and betting industry as the founder and president of Bookmaker Rating, an online media platform he led until 2020. The platform focuses on in-depth analysis and insights in sports betting and has gained a reputation for quality content.

In 2022, Paruyr co-founded Azuro, a decentralized betting protocol. This shows his commitment to technology in the sports betting space. Through all these experiences, Paruyr has been shaping and influencing the betting industry, setting new trends and standards.

Innovation in sportsbetting comes from a deep understanding of both technology and the human element of sports.

Strategic Vision

Paruyr's vision is to revolutionize the sports entertainment industry by integrating technology. He sees the future of sports entertainment as a blend of traditional sports knowledge with innovative tech solutions, like decentralized protocols, to enhance user experience and fairness. He aims to create platforms that are not only user-friendly but also uphold the highest standards of ethical reporting, contributing to a more responsible and enjoyable sports culture.

Sol Fayerman-Hansen
Sol Fayerman-Hansen
Editor-in-Chief

With 20+ years of writing experience across sports, gambling, regulation, technology, and startups, Sol brings a broad understanding to his role as Editor-in-Chief at RG. His work provides clear, factual information to help readers make informed decisions about gambling. Sol’s approach is about transparency and research, so the content at RG is straightforward, evidence-based, and accessible.

At RG, Sol keeps the focus on the reader by maintaining a standard of reliability and integrity in the information shared. Under his editorial direction, RG aims to provide practical insights into sports and sports entertainment that support a balanced and informed approach. Sol’s approach has helped RG become a go-to source for readers looking to engage responsibly and thoughtfully in the industry.

Cristina Varela Galan
Cristina Varela Galan
Problem Gambling Expert

Cristina used to work as a Psychology Assistant in the Bizkaia Pathological and Risky Gamblers Association. She was also part of a research team in Deusto University, specializing in pathological gambling area. While working there, she managed to develop her own project 

 “Exploring the association between emotional regulation, alexithymia, stressful life events and gambling in adolescent and young adult women”.

Nick Ashbourne
Nick Ashbourne
Senior Writer

Nick has been fascinated with sports since he was first taken to a Toronto Maple Leafs game in 1998, and he's been writing about them professionally since 2014.

Nick has covered baseball and hockey for outlets like The Athletic, Sportsnet, and Yahoo Sports while growing his expertise in sports data analysis and research. 

Between 2022 and 2023, he worked for a betting startup called NorthStar Bets. In 2024, he contributed to Oddspedia before joining the RG team.

Sergey Demidov
Sergey Demidov
Head of News Department

Sergey has been in sports journalism since 2007 as a reporter, editor, and manager. He has covered the Olympic Games, soccer World Cups, the World Cup of Hockey in 2016, the European championships, the Stanley Cup Finals, IOC events, and many others. Sergey interviewed the sport's greatest athletes, coaches, and executives. Since 2016, he has been an Independent Senior Editor of NHL.com/ru.

Anna Kravtcova
Anna Kravtcova
Problem Gambling Expert

Ph.D. in organizational psychology, an internationally certified psychologist (EuroPsy 2022, Cognitive behavioural therapy of mindfulness 2020, International Society for Emotional Intelligence 2017, Russian Psychological society 2014, American Psychological Association(Society for Industrial and Organizational Psychologist) 2011), speaker of many international conferences (USA, Brazil, Portugal, Czech Republic, Russia, etc.). TEDx speaker.

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