The legalization of sports betting has taken the activity to the mainstream, with Iowa joining the ranks in 2019. While it’s important to understand the risks and requirements of gambling, sports fans can enjoy betting on their favorite teams and events. The key to being a successful sports bettor is to be objective and make wagers with their head, not their heart. A bet with the heart is likely to lose money, regardless of the odds.
The first step to making smart wagers is understanding how the sportsbook sets its lines. A sportsbook will set its line based on its clientele and market. As a result, it’s important to have access to several sportsbooks so that you can shop for the best line. This will give you a better shot at beating the sportsbooks.
Another important factor to consider is the amount of time you’re willing to devote to betting. It’s a good idea to open a separate bank account that is used solely for placing bets. This will ensure that you don’t deplete your entire bankroll in one bad day of wagering. Some experts recommend putting between 1 and 5 percent of your total bankroll on each individual bet.
Lastly, it’s important to remember that no matter how much research you do or how experienced you are, you will not be profitable on a consistent basis. After accounting for vig (the sportsbook’s commission), even the most successful “expert” only gets about 60% of their bets right.