Sports betting is a risk/reward wager on the chance that something will happen during a game or event. Sportsbooks set odds based on the probability of that event occurring and allow bettors to bet on either the underdog or the favorite. Events with higher probabilities generally pay out lower risks but will also offer smaller profits, while those with a lower probability and bigger risks will yield larger payouts.
One of the best ways to win money at sports betting is to keep track of your bets (a standard spreadsheet works fine) and stick to sports that you are familiar with from a rules perspective. This will make you a better educated better and will reduce your chances of making bad decisions. Additionally, it is important to follow the sport you are betting on closely regarding news as some sportsbooks are slow to adjust lines, especially props, after a player or coach breaks news.
Another great strategy is to play over/unders based on the total that the sports book sets. The over/under is the specified estimate of the combined score for two teams at the end of a game. If the actual final combined score is over the total, you win. If the total is under, you lose.
Lastly, it is important to remember that sports betting is a marathon, not a sprint. There will be good days and bad days, so it is critical to manage your bankroll properly. It is recommended to wager between 1% and 5% of your bankroll on each bet.