Sports betting has become a big part of sports culture, with over 13 billion dollars bet legally in the US alone in 2019. While it’s not foolproof and certainly not a get rich quick scheme, it can be a profitable venture if you follow some key tips.
Keeping track of your bankroll is one of the most important aspects of successful betting. It’s best to separate your gambling funds from your regular day-to-day cash, and it helps to mentally tag that money as “money you’re spending for recreational entertainment.” Tracking your bets in a spreadsheet or even a good old-fashioned notebook is also a great way to review your past results and identify areas of improvement.
It’s a well-known fact that there are no guarantees in sports betting, and this is especially true for over/under wagers. The odds are a measure of the probability that an event will occur, and the sportsbooks’ goal is to make a profit from those who lose while rewarding those who win. This is why they include their commission in the odds, and that’s why you’ll often see a -105 line for an Over bet while the OVER/UNDER is around a 105-115 range.
That doesn’t mean that you can’t bet smartly, and many professional sports bettors have a decent amount of winning bets mixed in with some losers. But if you’re looking to make long-term profits, it’s essential to do your research and seek out advice from respected and successful bettors.