What is a Sharp in Betting?

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.