Millions of people will tune in to watch this year’s Super Bowl, but they won’t just be watching the game. They’ll also have money — sometimes thousands of dollars — on the line. Since the Supreme Court struck down PASPA, legal sports gambling has become an integral part of many fans’ viewing experience.
But with that newfound accessibility comes a whole slew of risks. Here are some things you should know about the world of sports betting before placing your first bet.
The basic idea behind sports betting is that if you can predict the outcome of a game, you’ll win some money. The key, though, is not just to pick the winner, but to beat the spread. This requires extensive research and analysis. This can include everything from team stats to player forms to injury reports. It can even involve taking into account the weather.
A bet is won when the total number of points a team scores exceeds the total number of points predicted by the oddsmaker. This is called “covering the spread.” A good bet will usually cover between 65% and 75% of its potential winnings.
It’s a lot easier to place a bet on a team or a game than it is to predict the individual performance of a player. This is why prop bets are so popular. Prop bets can include anything from how many home runs a player will hit to whether the bases will be loaded in the bottom of the ninth inning.
Most of these bets are based on a player’s past performance, but there are some that have nothing to do with the game at all. For example, one site has bets on how many songs Usher will perform at halftime and which Kansas City Chiefs player will appear in a State Farm commercial.
Prop bets are a great way to test out your knowledge of players and teams, but they can also be an expensive hobby. Many people lose more than they win, and some end up broke. This is particularly true of young people, who are drawn to sports betting by the ease of accessing online sites and peer pressure from their sports-loving friends. This is why it’s important for sports bettors to keep near-obsessive records of their plays.
Before making a bet, it’s a good idea to set aside a portion of your bankroll for the purpose. This will help you avoid overbetting, which can result in big losses. A good rule of thumb is to bet 1% or less of your total bankroll per play. This will allow for variance to play out without going bust. If you bet 10% of your total bankroll on a single play, even a strong betor hitting 55%+ of their plays would go bankrupt in short order.