Sports betting has become much more common since the Supreme Court ruling in 2018 that allowed states to legalize gambling on sports. People can now gamble on their favorite teams from the comfort of their homes, without needing to take a bus to a casino or wear out their credit card. However, like all forms of gambling, it isn’t without risk. People can get addicted to sports betting, which can ruin their lives and cause financial stress. Here are some tips to help you stay healthy while betting on sports.
Know Your Team Stats
Even the sharpest sports bettors rely on research and statistics to shape their wagers. A great starting point is to look at major stats, such as team records, rushing and passing yards, special teams, recent point totals, coaching trends, and more. The best bettors also look at context, or why a team might have performed well or poorly in a given game.
Lastly, be sure to always use a money management system and only bet with money that you can afford to lose. This is important because no matter how good you are at sports betting, you will lose some bets. A general rule of thumb is to never bet more than 1%-5% of your bankroll on a single bet.
Understand How Payouts Work
When you place a bet, the potential payout is always listed on your betting slip, whether you are wagering online or in-person. The payout will be equal to the amount you wagered plus the odds of winning. It is also worth noting that some states have different laws on sports betting, so it is important to check your local laws before placing a bet.
Don’t Bet Bad Numbers
Sportsbooks set odds on a variety of occurrences during a game or event, and you can bet on either side of those lines. The higher the probability of an occurrence, the lower the risk and the smaller the payout; conversely, the lower the probability, the higher the risk and larger the payout. Generally speaking, you should bet the sides of the line that are closer to even.
Bet with Your Brain Not Your Heart
There are many ways to bet on sports, but not all of them are profitable. The most lucrative bets are those that are mathematically proven to produce large profits over the long run. One of the most reliable strategies is value betting, which involves betting on undervalued teams and players. This type of bet is often overlooked by novice bettors, but it is a crucial part of any successful strategy. Using this strategy, you can improve your chances of winning by as much as 30%.