Sports Betting 101
Sports betting has become a big part of sports culture, but it can be risky and expensive. Here are some tips to help you enjoy it responsibly:
Set a budget. Before you even step into a sportsbook, figure out what your minimum wager size will be – a number that you are willing to lose. This will keep you from getting swept up in the excitement of the sportsbook and potentially placing a bet that is too large for your bankroll.
Shop the lines. Different sportsbooks have slightly different odds, and finding the best ones is key to making money. The lower the odds, the better the chance of winning.
Understand the terms:
The most basic of sports betting terms are “over/under” and “pairs.” When you place a bet on a team or individual to win, you’re saying they will do so by more (Over) or less than (Under) the total amount posted by the sportsbook.
Pairs are two teams or individuals that the sportsbook expects to score against each other in a game, with one side being a favorite and the other an underdog. A bet on the underdog will cost more than a bet on the favorite, but it has a higher probability of winning.
A sportsbook’s juice is a sort of mini fee it charges to accept your bet. It’s similar to the vig that’s charged when you bet on a coin flip: heads or tails.