Sports betting is a great way to add excitement to any sporting event, and it can also be very profitable if you do it correctly. There are a number of different strategies that can help you win money betting on sports, and the best ones are those that focus on finding positive expected value bets (EV bets).
Betting on your favorite team may sound like a great idea at the time, but hunches are unlikely to lead to consistent wins over the long term. Instead, look for EV bets by studying past game outcomes and data correlations. Also, don’t be afraid to shop lines, which means checking multiple sportsbooks for the best odds.
Another important tip is to follow bankroll management. This is a good way to avoid losing all of your money and can be achieved by dividing the amount of money you have to spend on each week’s worth of wagers. Ideally, you should only bet with 1%-5% of your total bankroll.
Lastly, it’s a good idea to specialise in one or two sports. This will allow you to devote more time to researching a particular sport and league, which can improve your odds of finding value bets. It’s a good idea to start with a sports league you know well, such as the NHL, and then move on to other leagues once you’ve mastered your research skills.
