Sports Betting 101

If you’re interested in betting on sports, then it’s likely that you’ve heard of point spreads before. Whether you’ve seen them on TV or read about them in a newspaper, they are the number that represents the difference between the favored team and an underdog. If you bet on the underdog and win, then you will get paid a certain amount of money.

Regardless of how you choose to bet, it’s important to make sure that you have some kind of plan in place. This will help you to stay disciplined and avoid betting with your heart instead of your head. It is also a good idea to open up a dedicated bank account, so that you can treat it like a real business. Ideally, each bet should only represent 1% to 5% of your overall bankroll.

Jon Wertheim, the 60 Minutes correspondent who reported this week on legal sports betting, says that it’s going to change the way Americans watch and consume sports. He predicts that the infusion of gambling will lead to a subset of fans tuning out.

As with any type of gambling, there’s no guarantee that you will win. Even professional handicappers only hit at about a 50% rate. But if you follow solid advice and treat it as a business, then you may find that you can turn a profit. Just be sure to keep in mind that it’s not a get-rich-quick scheme and you need to be prepared for some lean times.