Are you after the magic formula that will turn your under-average sports betting ventures into a lucrative source of money? Who isn't?

Now, don't get me wrong. I won't be able to turn you into a lean-mean money making machine, but I might be able to give you a few pointers that might just make you a better sports bettor than you've ever been.

There are a whole bunch of factors that will influence your overall sports betting results ( sports betting is one of the most complex gambling genres) like handicapping, bankroll management and so on, but I'll start with the most important of all: the value.

What most squares do, is bet on the favorite. It's simple, plain-forward and since the fav stands the best chance of winning anyway, these guys figure that's the safest way to win some money. Well, if you're one of the guys who think like this too, then you obviously need to clear a few basic sports betting concepts for yourself.

First off: the spread.

The spread is the main instrument used by bookmakers to "level" the playing field. The spread is a certain amount of points being subtracted from the favorite ( the equivalent of the fav starting with a certain handicap) and being added for the underdog ( it'll be as if these guys were starting with a few points advantage). The fav does not only need to win the match straight up, but he needs to beat the spread, in order for you to win. Since the objective of every team is to win at every given time, they won't exactly pay a whole lot of attention to covering the spread.

Besides knowing what the spread is, you also need to understand how the whole process of bookmaking works. If you imagine that the bookie makes his money mainly by winning from squares, you're wrong ( sure, sometimes bookmakers do decide to make such a move - that is, go up against the squares, but that only happens under exceptional circumstances, so it's not standard procedure) What they're usually after, is the vig.

The vig is the difference between what you win, and what the other player ( whose wager is used to pay out your winning) loses. That small margin is what the bookie withholds as his fair share of the action.

Normally, what a bookmaker wants to do is 'balance' as much of the action as possible, as well as possible.

A perfectly balanced matchup means sure benefits for the bookie. ( 'balanced' means that there are an equal number of bettors wagering on both sides of the matchup) Because of this fact, the main objective of any bookmaker is to balance the games as perfectly as possible.

Popular matchups will be balanced with extra care as the vig involved for the bookie will be huge and the risks he takes by not managing to balance it well-enough, are much greater. It's obvious there's no value in such games.

You need to look for unpopular games. No matter what a huge global operation a bookmaker is running, he simply cannot afford to pay equal attention to all games all the time. There's some hidden value in these games.

Another factor that can cause the bookie to leave uncovered value, is crowd pressure. The crowd tends to love favs playing away, and thus underestimate home underdogs. In reality, home underdogs can be dangerous SU, not to mention ATS.

This is where more hidden value occurs. The home court ( or field) advantage is constantly underestimated. The bookie knows what he knows, however, he has no choice but to leave the hidden value in the game, in order to balance the action.

Another important issue in sports betting is bankroll management.

In a nutshell: do not bet too much. Never bet more than 2-3% of your overall bankroll. Even on the matchups that you have a really good feeling about, don't ever bet more than 5%. Sports betting advantage comes over a long period of time, with constant good play. If you deprive yourself the chance to be in the game long enough, don't expect to be a successful sport bettor.