Sports betting is a popular pastime that has been legal in many states since the Supreme Court struck down PASPA in 2018. While it may seem like a fun way to spend an afternoon, betting on sports can be risky and unprofitable, so it’s important to know how to manage your bankroll effectively.
First, open an account at a licensed online or brick-and-mortar sportsbook. Don’t deposit more than you can afford to lose, and be sure to take any bonuses offered into consideration.
Next, choose a game that you’re interested in betting on. You can pick from a variety of events, including football, basketball, and baseball. You can also bet on specific players and teams, or even on the number of points a team will win.
Before you make your wagers, research the team’s history and current statistics to determine how well they match up with the other side. This will help you decide whether you should bet on the favorite or the underdog, and what odds to accept.
Betting on the Favorite
In most sports, there are a few teams that are considered favorites to win a game. These are typically the most popular bets, but underdogs can be just as profitable if they’re chosen correctly.
You can also bet on futures, which are wagers that involve predicting a particular event (like the Super Bowl) to occur in the future. These bets typically have lower payouts than pre-game bets, but are more flexible and can be made year-round.
Another type of bet is the moneyline bet, which is a single wager on one outcome. This type of bet is usually smaller than the point spread, but it can be more lucrative if you’re able to correctly predict the game’s final score.
Some people prefer to bet on the props, which are bets that have nothing to do with the game’s actual outcome. These are often more fun and can be placed before, during or after a game.
If you’re new to sports betting, it’s best to start by making a few bets on just one game before moving on to more complex wagers. This allows you to learn how to bet one at a time and avoid impulsive decisions that could cost you your entire bankroll.
The most common bets are based on the point spread, which is assigned to a game based on how much stronger one team is than the other. This allows bettors to place bets on the underdog while allowing them to cover the spread and win the bet if they’re the winner.
A sportsbook will also have a host of other options for bettors, including futures and prop bets. These can be a great way to increase your profits while reducing your risks.
Using a Point Spread
Most bettors prefer point spreads for the simple reason that they’re more predictable and less likely to go against your expected results. This is because oddsmakers typically assign a handicap to each team, and a favorite has to win by a certain amount of points to cover the spread. An underdog can also cover, but they have to lose by a certain amount or win the game outright.