Lessons in Sports Betting

The first lesson in sports betting is that the profit potential of any bet is based on the odds at the time you place your bet and your stake. Knowing this makes it much easier to whittle down available bets and select the ones that are best for your risk-to-reward profile.

The second thing you need to understand is value. This is a bit more complicated and involves looking at a bet’s probability of winning versus the odds on it. Generally speaking, the higher the actual probability, the better. So, if the odds on a bet are much lower than what you believe the team/player will win (found from the money line), then you’ve found value and are probably going to want to bet it.

You should also know that different sportsbooks have different odds on the same bets. This is because each one is trying to attract as many bettors as possible, so they make the odds on some bets more attractive than others. This can make a huge difference in your overall profitability. That’s why it is important to shop around, because there are always a few sportsbooks with the best odds.