The path to legal sports betting in the United States has been a winding one. It’s been peppered with corruption and backdoor deals that benefit the people who run things. Fortunately, the tide seems to be turning in favor of legalization.
It’s a good idea to open a bank account specifically for your betting activities. This way you’re only betting with money you can afford to lose and you’re not depleting your regular bank account with a bad day of wagering. Some experts suggest you only risk 1% to 5% of your bankroll on each bet.
Do your research. It’s important to know the sport you’re betting on and understand it properly. This means watching as many matches of the sport as you can, taking notes and learning the nuances of each match. It also helps to read news relating to the sport, such as player transfer stories and other relevant information that could affect betting odds.
It’s important to stay calm and focused. It’s easy to let emotions get the best of you when betting, but this can lead to irrational decisions that could cost you a lot of money. Stick to your budget and your initial plan and you should find that it is possible to make money betting on sports over the long term. Just remember that it’s not an overnight thing and don’t jump in expecting to win every bet you place (you won’t) or that you’ll make life-changing amounts of money (very few people do). This article was written by Shane Sigsbee, who is a contributing writer to The Washington Post.