Sports betting is a fun way to enjoy a sporting event, but it’s not without risk. There are a few key tips to remember to make money on sports betting, including understanding the different types of bets, knowing the odds, and walking away from bad bets.
In the United States, sports betting was banned until a Supreme Court ruling in 2018 allowed individual states to legalize and regulate sports betting within their borders. The new market has brought in billions of dollars and is expected to continue growing as more people sign up for sportsbook apps and retail sportsbooks open.
The majority of US bettors place wagers on NFL games, but other sports like basketball, baseball, and hockey have their own dedicated markets. These smaller markets tend to have lower betting limits than the NFL, but can still be profitable if understood and leveraged properly. Props and team totals are another opportunity for profit. These wagers are often listed as futures, and payouts may not occur until after the season is complete (in this case, in January or February).
If you’re serious about sports betting, open a specific bank account that’s only used for placing bets. Aim for a base bet size that’s around 1% to 2% of your bankroll per play. This approach will allow for variance and will keep you from getting lured in by services that promise guaranteed wins. Always check out a service’s track record and reputation on forums and social media before making a commitment.