I'm a little bit bothered to call this rule of thumb. I mean, something is considered rule of thumb because it is generally right or accurate, therefore widely accepted.
If you are regularly betting on sports, you will know this thing. It's a rule of a thumb since most bettors would choose to bet on the favorites spread compared to the underdog, so when the line is available, they'll hammer it until the spread will increase to balance the bets. That's why betting early gives you an advantage.
The key here is "line movement".
In sports betting, the movement of betting lines could go either way. It might be true that heavy favorites could get the bulk of bets as soon as the odds are released and early bettors could take advantage of higher odds. But the odds could actually go even higher as the game nears. That's why there are actually pros and cons in betting early as your odds, whether you're with the favorite or underdog, could actually improve later on.
By the way, do you use this strategy? I mean, that you place your bet in the early part of the week if you're with the favorite and later part of the week if you're with the underdog? How has it been? Since you also claimed that it is a rule of thumb, therefore more or less accurate, has it been doing great?
So far, I haven't heard of this betting strategy that involves betting on specific days of the week. I guess it must be sports or even league-specific that has a unique game schedule.
I'm a little bit bothered to call this rule of thumb. I mean, something is considered rule of thumb because it is generally right or accurate, therefore widely accepted. But I highly doubt the accuracy of this strategy. Surely, sports bettors don't just place a bet based on which player or team is the favorite and which is the underdog. Actually, it's only now that I heard of this approach or strategy in sports betting. I'm also not a professional bettor myself, so I could have missed this strategy. But I guess, now that I've learned it, I still won't apply it on my bets.
Well it is generally accurate. Not sure why you're bothered by it. I thought I'd open this discussion just to see how many here had been utilizing this strategy and what they've seen by doing so. This is simply how Vegas odds tend to shift over the week, or over time depending on how far apart the match is for whichever sport you're betting on. "But I guess, now that I've learned it, I still won't apply it on my bets"
I guess you're immune to legitimate gambling strategies?
I mean I'm betting regardless of days. Sometimes I bet early; sometimes I bet late. There are times when I think betting on certain odds early is advantageous. There are also times when I wait for a little longer because I believe the betting line would move in my favor.
Generally, the good thing about betting late even if it's the favorite you're betting on is that we aren't sure how things would develop. In NBA, for example, you would learn later on that this and that star player won't be playing. In boxing or MMA, there might be news that the training of a fighter isn't really running well as the fight day nears.
But I'm probably not profitable in gambling, so I might adopt this strategy, after all.