Six Ways to Save Money When Sports Betting

The Supreme Court decision legalizing sports betting opens up a whole new era for the way Americans watch their favorite games. 60 Minutes correspondent Jon Wertheim joins us to explore how the influx of betting money could change the sports landscape, including the integrity of college and pro sports.

It is possible to make a living betting on sports, but it requires time and dedication. Profitable professional bettors, also known as sharps, utilize a combination of betting strategies including thorough research and disciplined bankroll management. However, even the most skilled bettors lose money on a regular basis. The key is to never bet more than you can afford to lose, and to walk away from bad bets.

Betting on sports is a hobby for many people, and most consider it fun and friendly. But it can also be an expensive and risky endeavor if you are not careful. In this article, we’ll share a few tips to help you save money when betting on sports.

Bet with your head, not your heart

It may sound like common sense, but it is something many sports bettors struggle with. Betting with your emotions can lead to bad decisions that can cost you a lot of money. Remember to always look at the numbers and unique circumstances when making a wager, and avoid betting on teams or players just because you have been rooting for them since you were a kid.

Understand betting odds

Sportsbook odds are a key component of sports betting and can be confusing for beginners. They are used to reflect the expected winning margin for a given event or game. They are expressed in a variety of ways, but most often the smaller number represents the favored team or player. The larger number represents the underdog. If multiple teams or players have the same number, the oddsmakers will typically divide their liability evenly.

Use context betting

Context betting is a strategy that uses previous results to predict future ones. It involves evaluating factors such as the type of scoring plays that occurred, home-field advantage, and even the players that were playing well. While it is not foolproof, it can help you find bets with a high return-on-investment (ROI).

Bet smarter, not harder

If you want to make money betting on sports, it is important to have a solid understanding of the different types of bets and their odds. It is also a good idea to set a budget and stick to it. This will help you avoid chasing bets that have lost and will keep your winning streaks from becoming unsustainable. Lastly, be sure to use tools such as the “if bet” and the “reverse bet,” which can significantly reduce your risk while allowing you to maximize your potential for profits.