3 Things to Remember About Sports Betting

sports betting

Sports betting has become a lot more accessible since 2018, when the Supreme Court opened the floodgates for gambling and made it legal in most states. That means that you can now bet on sports events while you watch them, from the comfort of your couch and some buffalo chicken dip, without having to take the party bus to Atlantic City or book a flight to Las Vegas. And that’s great, except for the fact that it can be very addictive.

The biggest thing to keep in mind with sports betting is that it’s not easy to turn a profit, especially over the long haul. This is because of the laws of probability and the house edge, which basically takes a little slice of every bet that you place. But there are some things you can do to increase your chances of making money, like keeping track of your bets and avoiding the temptation to chase bad losses.

Another important thing to remember is that you can’t win every bet, no matter how good your research or how confident you are in your picks. This is why it’s crucial to understand the concept of value betting, which involves evaluating the odds on a given team or player and placing a bet with a higher chance of winning than what those odds imply. The best way to do this is by using a sportsbook’s live pricing, which will automatically adjust your bet size depending on the odds.

The final point to remember is that it’s important to stay disciplined and not let your emotions get the best of you. This is the number one reason why people lose money on sports betting. When they have a losing bet, they often try to recover their losses by chasing the bet with more bets, which can lead to them going “on tilt” and making bad decisions.

To avoid this, it’s always a good idea to have a specific bank account for sports betting that you don’t use for anything else. You can also set a budget for how much you’re willing to bet, which will help you stay in control of your finances and prevent you from getting too carried away with your winnings (or your losses). It’s also a good idea to avoid chasing after a bet that has already lost. This can be extremely tempting, but it’s usually a big mistake.