Sports betting is one of the fastest-growing entertainment markets worldwide, and after the United States legalized sports gambling in May 2018, things have been picking up quickly. But for all its fame and popularity, there are still aspects of the sports betting experience that are not completely understood by participants, casual fans, or even some “sharps.”
Betting Odds & Probabilities
The first thing you need to know is how betting odds work. Whether you’re a beginner or an experienced bettor, knowing how to interpret these odds will make all the difference in your success.
Over/Under Bets
The most common type of bet in sports is an Over/Under wager. This is when you predict if the two involved sides will combine for more (Over) or fewer (Under) runs/goals/points than the total posted by the sportsbook. For example, a Los Angeles Rams vs. Seattle Seahawks game has a total of 42.5 points, so you’d bet on the Over if you think that the teams will combine for 43 or more.
Money Management
There are many different tips and strategies for sports betting, but a good rule of thumb is to risk only what you can afford to lose. Some experts recommend risking between 1 and 5 percent of your bankroll per play.
Another way to profit from sports is by placing futures bets. These are bets that are decided at a later date, but will pay out regardless of the outcome of the current game. This is a fun and exciting way to place your wagers, but you should always bet responsibly.