If you want to make money from betting on sports, you have to follow some simple rules. First, you need to know what type of betting is legal in your state, and you should always keep a clear head when placing your bets.
Managing Your Bankroll
Before you start betting on sports, you need to figure out how much you’re willing to risk per bet. It’s also a good idea to open a specific bank account to place your bets.
Bets on totals: When you bet on a total, you’re predicting if the two sides will combine for more runs/goals/points than the amount posted by the sportsbook. This is different than a traditional point spread or moneyline bet, but it’s still important to understand what you’re wagering on and how to make the best choice.
Props: Proposition bets are another great way to make some cash from sports betting. These bets aren’t a standard point spread or moneyline, but they often have the same odds and prices.
Getting Started
If you’re new to sports betting, it can be intimidating. There’s a lot of jargon and terms to learn, but we’ve put together an easy-to-understand beginner’s guide to get you started in no time.
Mandated usage of “official league data”:
A flurry of discussion and debate has been ongoing since the Supreme Court’s PASPA decision in 2018. The NBA, MLB, and other major leagues want all legal sportsbooks across the country to use and purchase their “official league data.” It’s a big business for them. So far, Illinois and Tennessee have passed laws mandating that their sportsbooks use/purchase that data.