Sports betting is a fun and exciting pastime that can also earn you some cash. However, it is important to understand the risks involved before you begin to place bets.
The Supreme Court removed a federal ban on sports betting in May 2018. This allowed states to pass their own legislation and legalize the activity. Since then, over 30 states have launched some form of legal sports betting. Many others have bills or other legislation on the table that will make sports betting legal in their state.
It’s Not as Easy as You Think
If you are new to sports betting, there is a lot of information out there that can be confusing. Fortunately, there are plenty of resources to help you navigate the world of sports betting.
First, you should understand the different types of bets available. Some are more popular than others, but all are worth your time to learn about.
Straight Bets: A straight bet is the most common type of sports bet. This type of bet is typically made on a single game or event.
Over/Under Betting: This is another popular type of bet. This type of bet is based on whether or not two teams will combine for more (Over) or fewer (Under) runs/goals/points than the total amount posted by the sportsbook.
For example, a Los Angeles Rams vs. Seattle Seahawks matchup has a total of 42.5 points. If you expect the game to be a defensive slugfest and end with 43 or more combined points, you’ll bet on the Over.
Despite the odds, winning sports bets is possible. In fact, many professional sports bettors have made millions of dollars by placing wagers on the correct team.
There are also numerous ways to increase your odds of winning. One of these is utilizing the right money management strategies.
Some of the most common sports betting money management tips include betting only a small percentage of your bankroll on each bet and maintaining a consistent unit size for every play. By doing this, you will be able to avoid going broke and keep your bets consistent over time.
It’s Not as Easy to Win as You Think
The biggest obstacle in the path of a successful sports bettor is consistency. There will be good days and bad days, so you need to have a solid plan in place that helps keep your bankroll in the black.
You should also bet on only the most attractive games and markets. This way, you’ll have more opportunities to find value and reduce your risk of losing a large sum.
Do Your Research
Keeping up with sports news, locker room gossip and other factors can give you an edge over the sportsbook. However, it is crucial to keep your focus on the team or players you are betting on. It is also a good idea to avoid putting too much trust in your gut instinct when betting on teams or players you are unfamiliar with.