Sports Betting Q&A
Frequently asked questions about sports betting
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How do you win at sports betting?

To win at sports betting, an individual has to put time into studying and researching various aspects of a matchup.

While turning a positive in sports betting is possible, it's not easy if you want to do it on a consistent basis. Before starting, a bettor should know the majority of terms used within the sports betting world. From there, research begins which could involve studying team trends, looking at odds or shopping around for the best lines.

To be a successful bettor, one doesn't simply win a few bets from a guess and continue to win. There's a reason sports betting is a big business and states turn a profit of millions. It's worth remembering that only a small percentage of sports bettors are profitable in the long run.

Set a Bankroll

This may be the most important step because if you don't know how much money you're comfortable losing, things could get out of hand. It's usually easiest to start your bankroll with a round number like $100 or $1,000. If you quickly lose that $100 or $1,000, it may be best to take a break before jumping back in, though if you make bets based on units, your money should last a decent amount of time.

Study, Study, Study

If you want to win on your own terms, it will take time. Looking at simple numbers like home/away and against-the-spread records is the first step, but there's always another level to dive into. In baseball, you can examine batter vs. pitcher matchups and the same goes for coaching matchups in football. In basketball, you can compare efficiency numbers or look at each team's pace. The number of stats to study is endless, but finding the most important ones is the key distinction to being a successful bettor.

Shopping Odds

Once you have a preferred side, you can look around to see which sportsbook has the best odds for your bet. If you really like the Buffalo Bills and think they can beat the New England Patriots as an underdog, most sportsbooks will have different numbers. For example, your favorite site could have +200 odds as an underdog, but another one may have +220 odds. At that point, you have to decide if it's worth it to bet at the other sportsbook in order to get better odds. 

Another example is if the Bills are a +6.5 underdog at one site and +7 at another, both with -110 odds. It's clear the site with +7 and -110 is the better bet, but only if you're comfortable having money at numerous sportsbooks.

Don't Trust Touts

Some will be swayed by sports betting touts and handicappers, but paying for a service likely means you have to win a bigger portion of your bets. Sports betting is already difficult in order to come out in the positive as you have to hit roughly 52.4% of bets. Throw in the extra few dollars spent on a tout service and that percentage can rise to 55 or even higher, assuming you want to win something.

You could win at sports betting by using a service, but there's no guarantee the service will be profitable. If you want to put in the time, an individual can study as much as he or she wants and make bets based on those calculations. Every stat you research isn't going to help, but that's the fun in betting.

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More Questions To Read
Can you bet on sports with Venmo?
No, not legally. Most legal sportsbooks around the country won't allow you to make bets with Venmo.
Which states in US have legal sports betting?
As of 2020, there are 21 states (and Washington D.C.) that have legalized sports betting.
Can you bet on sports online?
Yes. But while betting on sports is legal in almost half the states in the country, not all of them allow online wagering.
When was sports betting legalized?
Sports betting was allowed to be legalized at a state level in 2018 after PASPA was struck down.
When will sports betting be legal in Indiana?
Sports betting in Indiana was legalized September 2019 and online gambling launched a few months later.
Is sports betting legal in Indiana?
Yes. Indiana passed a bill to allow sports betting in 2019 and wagering started in October with online betting opening a couple months later.
When will sports betting be legal in Michigan?
Michigan passed legislation to allow sports betting in December 2019 and the first physical sportsbooks opened March 2020.
Is sports betting legal in Michigan?
Yes. Michigan passed legislation to allow sports betting in December 2019 and the first physical sportsbooks opened in March 2020.
Is sports betting legal in Virginia?
Yes. Sports betting is legal in Virginia and residents began betting via FanDuel in January 2021.
When will sports betting be legal in Virginia?
Sports betting is legal in Virginia and residents began betting via FanDuel in January 2021.
When will sports betting be legal in South Dakota?
Sports betting is not legal in South Dakota, but residents passed a ballot initiative in the November 2020 election, which means it's on its way.
Is sports betting legal in South Dakota?
No. Sports betting is not legal in South Dakota, but residents passed a bill initiative in the 2020 election.
Is sports betting legal in North Carolina?
Yes. Sports betting is legal in North Carolina, but it's only available at two casinos, which weren't open as of early 2021.
When will sports betting be legal in North Carolina?
Sports betting is legal in North Carolina, but it's only available at two casinos, which weren't open as of early 2021.
When will sports betting be legal in Tennessee?
Yes. Tennessee sports betting was legalized in 2019 and launched in 2020.
Is sports betting legal in Tennessee?
Yes. Tennessee sports betting was legalized in 2019 and launched in 2020.
Is sports betting legal in Maryland?
No. Sports betting is not legal in Maryland, but residents voted Yes to legalize sports gambling in the November 2020 election.
When will sports betting be legal in Maryland?
No. Sports betting is not legal in Maryland, but residents voted Yes to legalize sports gambling in the November 2020 election.
Is sports betting legal in Louisiana?
No. Sports betting is illegal in Louisiana despite numerous attempts throughout the last couple years.
When will sports betting be legal in Louisiana?
Sports betting is illegal in Louisiana despite numerous attempts to legalize it the last couple years.
When will sports betting be legal in Iowa?
Iowa legalized sports betting in May 2019, becoming the 11th state to do so.
Is sports betting legal in Iowa?
Yes. Iowa legalized sports betting in 2019, becoming the 11th state to pass a bill.
When will sports betting be legal in Illinois?
Illinois passed sports betting legislature June 2019 and launched at physical sportsbooks March 2020, becoming the 15th state to offer wagering.
Is sports betting legal in Illinois?
Yes. Illinois passed sports betting legislature in 2019 and launched at physical sportsbooks in March 2020.
When will sports betting be legal in Colorado?
Colorado legalized in-person and mobile sports betting November 2019 after a bill was signed by the governor and then approved by voters.