The Supreme Court made sports betting legal in 2018, and it’s quickly become a part of the culture of professional sports. Whether you’re rooting for your hometown team or betting on the outcome of an international competition, there’s something for everyone in the world of sports betting. But before you start putting money on the line, there are a few things you should know.
The first rule of sports betting is to never bet more than you can afford to lose. This might sound obvious, but it’s easy to get caught up in the thrill of a winning bet or the sting of a losing one and end up placing bets you can’t afford to lose. To prevent this from happening, it’s a good idea to open a specific bank account that’s only used for sports betting and calculate your base bet based on how much you can afford to lose.
Another important rule of sports betting is to avoid using any service that claims to guarantee wins. It’s best to do your own research on these services and even check the Better Business Bureau before you sign up. Those who promise guaranteed wins are probably scamming you, and you should steer clear of them at all costs. It’s also a good idea to always bet the same amount every time, so that you’re not tempted to chase your losses or boost your profits.
Lastly, it’s important to remember that sports betting isn’t an easy way to make money. It requires a lot of research and disciplined bankroll management to be profitable. In fact, even professional bettors (known as sharps) have a tough time maintaining profitability with lofty winning percentages.
There are many types of sports bets, including moneylines, spreads, and parlays. You can also place bets on individual player performance, which are known as prop bets. These bets often have nothing to do with the actual game, and they can include everything from how many touchdown passes a player will make to the color of Gatorade that will be thrown on a coach during halftime.
The most common bets are the Over/Under and Point Spreads. The Over/Under bet is a wager on the total number of points scored or conceded in a game. For example, a matchup between the Los Angeles Rams and Seattle Seahawks has an Over/Under of 42.5 points. If you think the teams will combine for more than 43 points, you would place a bet on the Over; if you expect a defensive slugfest with very few points, you’d place a bet on the Under.