The Right Way to Pick NFL Futures & Best Betting Practices
Home underdogs are crushing in college basketball, bettors were taken to the cleaners backing the LA Rams and Krack is losing his Caesars Sportsbook VIP status. Bill and Jon tackle current events in sports as well as a few extremely valuable betting tips.
Learn why betting home underdogs makes up the biggest part of Krack’s betting strategy, what he considers to be the #1 skill in sports betting and why Super Bowl futures are a long-term loser for serious gamblers.
Home Underdogs Are Biggest Part of Krack’s Betting Strategy
Not long ago, home underdogs were 28-18 against the spread to the start of the college basketball season, according to DraftKings Sportsbook. This fact sparked an interesting explanation of how big a part of Krack’s betting strategy home underdogs play, and how big an opportunity it is in NCAAB betting.
“I like taking home teams,” said Krack. “Home teams in basketball mean a lot more than in baseball, for example. When you’re in a gymnasium, especially at smaller schools, it means a lot more to a team.”
Krack explains that his favorite kind of bet is a six or seven-point underdog and down. “1, 2, 3, 4, 5, 6, 7, taking those points at home, that’s a big portion of my bets,” said Bill.
Why Super Bowl Futures Are a Bad Idea | How to Do it Right
With the recent Rams loss to the 49ers, we see yet another upset in a line of losses that includes the Cowboys losing to the Broncos and Buffalo losing to Jacksonville. Bill points out how much more wide-open this season is than any other year in recent memory.
Current odds to win the Super Bowl, as seen in Las Vegas, are tight with Buffalo at 6-1, Dallas 7.5-1 and Tampa, Chiefs, Packers and Titans all at 8-1 and the Cardinals and Rams both at 9.5-1.
“There are so many teams that have a shot,” said Krack. “This is a very interesting year.” Bill explains that in general he stays away from futures bets because the household is generally much higher, say 25%, compared to the roughly 4% hold on straight bets. It also ties up your bankroll for a long time which takes it out of action.
Bill says that while futures are a lot of fun, and a good option for recreational bettors, it’s not a good choice for anyone serious about winning long-term.
Krack Says “Bankroll Management Is the #1 Skill in Betting”
Bill and Jon discuss the differences between East Coast and West Coast sports gamblers. Bill calls East Coasters more gritty and knowledgeable when it comes to sports, but he’s quick to point out that the vast majority of bettors in cities like New York, Baltimore, Philly and Chicago are still long-term losers when it comes to gambling, just like their West Coast counterparts.
What’s to blame? According to Krack, bankroll management is the single biggest problem for most bettors. “Controlling your bankroll and controlling that urge to bet at night when a game is on TV, or not to bet after a losing game or session,” explains Bill.
“It’s so tough to do. Not even just sports betting. It’s hard to lose a casino if you’re stuck a couple hundred bucks playing craps or blackjack, slots or whatever. It’s very tough to leave when you still have money in your pocket. The number one thing that builds these places is people who chase and try to get even.”
Good bankroll management isn’t something that happens overnight. Bill goes on to explain that as a kid, growing up in a gambling family, he had no idea what he was doing when it came to odds, house edge and bankroll management.
Years of learning and experience later and Bill is here to share the lessons with you.
Krack Losing Seven-Star at Caesars Thanks to William Hill
Bill knows how to work rewards programs and he’s been a regular member of the highest VIP level at Caesars but, sadly, that will not continue next year.
That’s thanks to William Hill operating the sportsbook and barring Bill from betting on any sports because of his winning record.
Funnily enough, they still welcome Krack to bet in the casino, despite being banned from the sportsbook. Bill is optimistic that at some point in time management will reconsider its decision to bar winning gamblers but for the immediate future he won’t be getting action at that book.
Krack is also barred from Station Casinos and Boyd Gaming in Las Vegas but is quick to point out that lots of books, including Circa, are happy to accept his action and even learn from it.
Join Us Next Week for Poker Pro Maria Ho
With the World Series of Poker Main Event wrapped up in Las Vegas this week, we’re excited to welcome poker pro and commentator Maria Ho on Wise Kracks.
Both Jon and Bill are poker players and have both competed in the Main Event. Maria has an absolute wealth of poker knowledge and entertaining stories and we’re excited to learn everything we can.
Make sure to subscribe to WSN on YouTube and enable notifications to never miss a new episode of Wise Kracks.
Latest Wise Kracks Episodes
Billy “Krackman” Krackomberger has made his living as a professional sports gambler for nearly three decades. You have seen him on ESPN, Gaming Today, and SiriusXM. His connections in the sports gambling industry run all the way to the top. His bets move the lines and regularly have him banned from books for being too sharp. Email: [email protected]