To truly make money in sports betting, you must be fully committed, so it's best to have a dedicated account solely for betting. When you open this account, make sure you deposit enough funds to cover your betting for the entire season or year, not just for a single game. [1] To ensure you have enough funds, consider multiplying your base bet by at least 100, which is the minimum amount you should always keep in the account.

Create several sports betting accounts. To place bets, you must have at least one sports betting account, but it's even better to have at least three. This way, you can compare products and make wiser bets. Some sports betting companies also offer registration bonuses, so be sure to shop around. [2] Nowadays, most sports betting can be done online, with some popular websites being:

• Bet365

• Bovada

• BetOnline

Learn to make wise bets. There are many rules that apply to this, some related to numbers, and others related to which teams you should or shouldn't bet on. For example, while each bet should represent about 1% to 2% of your bankroll, if you lack confidence in a bet, you can reduce it to 0.5%. Similarly, if you are very confident, you can increase your bet, but never bet more than four percent of your bankroll. Some experts even say that if you lack confidence, you should never bet. It's better to step away and find a better bet that you feel good about. Many experts also advise against betting on your home team in any sport because your bias can affect your judgment, potentially leading to significant losses. [3]

Create a betting schedule. Don't just bet on every game. Each week, review upcoming matches and choose the ones you want to bet on based on your confidence in potential bets. [4] Don't be afraid to abandon a bet before a game if you no longer have confidence in it due to changes in odds, point spreads, etc.

Don't chase bad bets. This refers to the practice of trying to compensate for previous losses by placing more bets. It's a dangerous practice because many people abandon good judgment, make more bad bets, and try to recover what's lost, leading to further losses. Conversely, don't chase a good bet (one you've won) in an attempt to win more or double your money by placing more bets. Establish a betting schedule or routine and stick to it.

Bet with a clear mind. This means making bets with a clear, focused mind. Many people might think this is common sense after reading this article, but you'd be surprised how many people violate this rule. Emotions can make us all worse, and those emotions can also lead to poor decision-making. The term "Going on Tilt" is used in sports betting when players let their emotions affect their best performance and lead to losing money.

Section 2: Understanding Sports Betting

Understand the moneyline. The moneyline is a positive or negative number associated with each team participating in a particular game, indicating how much you must bet to win $100 or how much you will win if you bet $100. For example, if the moneyline is Toronto Maple Leafs -200 and Vancouver Canucks +155, it means you must bet $200 on the Maple Leafs to win $100, or you must bet $100 on the Canucks to win $155. Teams associated with negative numbers (Maple Leafs) are the favored teams, while teams associated with positive numbers (Canucks) are the underdogs. Many gamblers bet on moneylines in hockey and baseball because of lower scores, and point spread betting doesn't make much sense in these games. However, you can bet on the moneyline for almost every sport. [5]

Understand point spreads. In games where the final score difference is significant, point spread betting is more popular. In point spread betting, you're not only betting on whether a team will win but also on whether that team will win by a specific amount. For example, if the point spread is Detroit Lions +4, New England Patriots -4, you can bet on whether you think the Lions will win and whether they'll win by more than 4 points. [6] Similarly, teams associated with negative values are the most favored, while teams associated with positive values are the underdogs.