There is no guarantee that you will win every bet you place in sports betting. But you can improve your chances by being responsible, doing your research and seeking out advice from respected and successful sports bettors. And you can also avoid making common mistakes that many sports bettors make.
For instance, one mistake is backing heavy favourites. This is a risky strategy that often backfires. Favorites are usually favored because of their name value, not their talent or record. This makes it tempting to bet on them for their name alone and not their actual odds of winning a game.
Another common mistake is raising your bets too high. This is a dangerous strategy that can quickly burn through your bankroll. It’s better to build a solid foundation and then gradually increase your wagers as you gain experience.
Sportsbooks charge a small percentage of each bet called the juice or vig. This is kind of like a mini fee for accepting your bet. It is especially important to understand the vig in sports betting because it can erode your profit margins.
The key to profitable sports betting is to find bets that have a positive expected value (EV). This can be done by finding opportunities in the lines that are off from Vegas or by evaluating a team’s fitness level using a tool such as Mercurius, which can evaluate the likelihood of a team covering the spread.