Sports betting is a new frontier for many fans, and the growth of the industry has reshaped what it means to watch professional and college sports. The days of the once-a-year office pool are long gone, and bettors now wager tens of billions of dollars each year on games that they would otherwise watch without any financial interest. That boom has also led to a sharp spike in inquiries to the National Problem Gambling Helpline Network, which received 270,000 calls, chats and texts last year.
Sportsbooks are in a war for your business, and they will offer all kinds of promotions to lure you in — from free bets to risk-free bets to odds boosts to bonus money. Take advantage of them, but remember that winning at sports betting is not easy — especially over the long haul. It’s important to keep track of your wagers (a standard spreadsheet will work) and only bet on sports with which you have a positive return on investment, or with which you are innately more familiar.
Payouts are determined by the odds attached to your bet, and the potential payout is always listed on your bet slip, whether you’re placing a bet online or in person. The odds will usually include the amount of your wager, and you should always add this to the total potential payout before making a bet. Odds also change over time, and they will get shorter as a sporting event approaches — for example, the odds on the Kansas City Chiefs winning the Super Bowl might start out high but will get shorter as the season progresses.