As sports betting becomes increasingly prevalent, the NCAA is working to make sure that it is monitored properly on college campuses. A recent survey by the NCAA showed that nearly 58% of athletes and more than 27% of their coaches reported engaging in some form of sports betting. While the majority of those who place bets win, it’s also important to remember that a significant percentage lose and often lose big. In fact, a trio of researchers has found that losing bettors can be addicted to the activity and end up with hundreds of dollars in debt by the time they are done.
Many of these bettors are not educated on the game or on how to best bet the game. Then, they get stuck in a cycle where they continue to lose bet after bet. This is why it’s important to educate yourself on the basics of betting and to learn how to bet smartly.
The key to making money betting on sports is having a plan and sticking with it. It is also a good idea to open a separate bank account that you use solely for placing bets. This account should be large enough to cover your base bet, which is 1% to 5% of your total bankroll (the amount you have set aside to bet).
Another way to increase your chances of winning is by studying trends and researching stats. This can help you spot undervalued bets that offer great value. It is also helpful to consider the house edge when placing your bets.