Sports betting has exploded across the country since the Supreme Court struck down the Professional and Amateur Sports Protection Act in 2018. The legalization of sports gambling has given fans another way to engage with their favorite teams and players. However, winning consistently at sports betting is difficult. The key to profitability is to understand how to make bets that offer positive EV, not relying on one-off results or chasing losses.
The main types of sports betting are moneyline bets, point spread bets, and parlays. A moneyline bet is simply placing a bet on the team that will win a game, while a point spread gives points to one team and takes them from another when two teams are competing against each other. This can level the playing field and allow the underdog to win a game. Point spreads are typically offered in increments of a half-point (.5) even though only a few sports use this type of scoring system.
Other popular sports wagers include over/under bets, which are placed on the total number of points scored in a game. For example, if a matchup has a total of 42.5 points and you believe the game will be a defensive slugfest, you would place a bet on the Over.
While it is possible to win big bets in sports betting, the most successful bettors focus on generating small profits on a consistent basis. This is because large bets are unpredictable and often come with more risk than smaller bets. In addition, bettors that chase their losses by raising the size of their bets could quickly exhaust their funds and become frustrated with their results.