Sports betting has exploded across America since the Supreme Court struck down the Professional and Amateur Sports Protection Act in 2018. Previously limited to Nevada, sportsbooks are now opening up everywhere legality permits. This has brought a whole new angle to NBA games and NFL Sundays beyond wins, losses, and playoff races. While there is no magic formula for winning at sports betting, there are many ways to increase your odds of success. Here are some tips to help you get started:
Learn Everything You Can About The Game & Teams: Before placing any bets, thoroughly research the team or player you are betting on. Analyze statistics, head-to-head records, coaching strategies, and more to make educated decisions. This will allow you to spot value bets that the odds don’t accurately reflect.
Bet Small: Start with a set amount of money that you are willing to risk on each bet and stick to it. This will help you avoid big losses and keep your bankroll healthy. It is also important to always be aware of your risk tolerance and never bet more than you can afford to lose. A good rule of thumb is to bet 1% to 5% of your total bankroll per play.
Track Betting Lines: Odds for sports events can vary from one sportsbook to the next, as each book sets its lines based on its own clientele and market expectations. By scouring multiple sportsbooks, you can find the best odds and make the most of your betting money.
Look for Hedging Opportunities: A smart and calculated approach to sports betting involves hedging your bets to lock in profit no matter the outcome of a particular game. This is particularly useful when you can identify a hedging opportunity that arises after you’ve placed your initial bet and the odds have shifted in your favor.
It’s Important to Stay Away from Fraudulent Services: Don’t be fooled by claims of guaranteed win sports picks. While there are some legitimate sports handicappers, the majority of these scams are run by individuals with no experience or knowledge of the sport they claim to specialize in. Do your homework and check out the Better Business Bureau and sports betting forums before investing any money with a service.
Bet In-Game Props: In-game prop bets are wagers on occurrences that don’t appear in the box score or are not related to the outcome of a particular game. These bets can be as simple as the color of the Gatorade that douses a player’s coach, or as complex as the number of TD passes completed by a certain team’s quarterback. While these bets aren’t as lucrative as standard point spread bets, they can add a level of excitement to the game.
The most successful bettors know that sports betting is a marathon, not a sprint. While there will be good days and bad, a consistent, disciplined approach to betting can lead to long-term profits. By learning everything you can about the sport and teams you are betting on, staying informed and following your bankroll, you can maximize your chances of making money with sports betting.