The legalization of sports betting has brought the sport to a broader audience and created an opportunity for millions to win big. But there is a lot to know when it comes to placing wagers, especially for those who are just starting out in the game. Here are 12 things every beginner needs to know.
1. Understand the Odds.
The odds on a particular team winning or losing a game are posted by oddsmakers, and can be found online at most sportsbooks. The favored team is indicated by a minus sign, and the underdog by a plus sign. The oddsmakers’ goal is to make a profit, and they do this by taking the bets of those who think the underdog will win. This is referred to as the “vig,” or house edge.
2. Manage Your Bankroll.
The key to making money betting on sports is to be careful with how much you risk, and keep track of your wins and losses. If you don’t have the discipline to do this, you will be throwing your life savings away, and nobody wants that.
3. Do Your Homework.
The key to being a successful sports bettor is researching both teams and players, not just how well they play, but any injury concerns, player controversies or anything else that could impact the game. This research will help you make informed decisions about who and how to bet on, as well as which players to back.