How to Make Money on Sports Betting

Many sports fans hear about stories of people turning $5 into $100K on a parlay and think it must be easy to make money betting on sports. The truth is, it is not. In order to break even on sports betting, a bettor must win 52.4% of their bets after accounting for the vig, or juice. And even the most successful “experts” get less than 60% of their bets correct on a regular basis.

The reason is that sports betting is a guessing game. Unless you have inside information about players or teams, there is no way to know which team will win or lose in a given situation. So, while it is possible to make money on sports betting, it takes research and discipline. A bettor should set a budget and stick to it. In addition, he or she should open a separate bank account for betting, and only place bets with that money. This will prevent a big loss from depleting a betting bankroll.

In addition, a bettor should consider the odds of each bet. If the odds of a team or player are long, that means they are a favorite to win. On the other hand, if the odds are short, then that team or player is a underdog to win. Also, be aware that the odds of a bet will change over time. For example, if a team is at +350 to win the World Cup and then they suddenly become -550, that indicates that the odds have changed significantly.

Posted in: Gambling