Sports betting can be a fun way to make some extra money – or it can be a way to find yourself deeply in debt. It’s not impossible to make a regular income from betting on your favorite baseball or basketball teams in your spare time or on weekends if you know what you’re doing. Here are some tips on how to bet on sports successfully.
First, decide on what sports you would like to bet on. In order to be a successful sports bettor, you have to pick a sport or sports that you understand and that you feel passionate about.
Second, decide where and how you will bet. The most convenient way to bet are online sports books, but you should be careful which one to deal with. Also, not all sports book sites accept US customers, since online betting in the US still has an uncertain legal status. You should also look at the deposit bonuses they offer for new accounts, as well as other features such as deposit options and higher limits.
Third, keep your bets simple. Particularly when you’re starting out, don’t be enticed into making complicated bets such as parlays on the promise of a high payoff if the bet wins. Stick with straightforward bets such as straights or point spreads.
Fourth, shop around the various sports books to find the one that offers the best odds. Because of intense competition, sports books are always offering more favorable odds in order to entice new players. Remember, even an extra half-point in the odds can add up to substantial profits in the long run.
Fifth, learn how to handicap. Handicapping means using whatever information is available to try to predict the outcome of a game. This means that you have to do your homework and learn everything you can about the teams playing. There are a lot of factors that can influence the outcome, from the personal situation of a team’s star player, to the team’s performance when they’re not playing on their home turf. Also don’t forget to look at the past performance statistics of the players, the weather on the day the game is to be played, and even the type of field the game is played on. The more you know, the more accurately you can handicap the game.