Sports betting became a lot more accessible when the Supreme Court opened the floodgates in 2018. Now, you can gamble on the same games that you would have found at your neighborhood casino in Atlantic City from the comfort of your couch while munching on buffalo chicken dip. This has made it easy for the average person to lose money, and a whole lot easier to get addicted.
But is it really possible to make a living through sports betting? The answer is no, and you can only make a living if you’re extremely lucky. But there are ways to improve your chances of winning, like studying stats and seeking professional advice. In addition, hedging can be an effective strategy when the odds shift to your favor after you place a bet.
Another important thing to keep in mind is that you should always manage your bankroll and never bet more than you can afford to lose. It’s also a good idea to open a separate account that you only use for placing bets. Doing so will help you stay focused and avoid emotional decisions, which can often lead to bad bets. You should also learn from your mistakes and stay informed on the latest news about teams, players, and matchups. It’s also helpful to use betting tools and calculators, as well as research player and team histories. Finally, you should focus on value bets, which are wagers that have a higher probability of winning than implied by the odds.