The good news is that sports betting can be profitable, but it’s not easy. To do so, you must understand the oddsmakers’ mindset. They have decades of experience and substantial human and financial capital to draw upon when setting their lines. This gives them a significant advantage over most recreational bettors, but that doesn’t mean searching for +EV is futile.
For instance, if the New York Giants are listed as 10.5-point underdogs against Green Bay, they’re likely getting a lot of action. This is because the sportsbook wants to get equal action on both sides of the bet (so they don’t lose money). But if they keep raising their line, they’ll eventually hit their maximum limit and start losing money. That’s why it’s important to do your research before placing a bet on any event.
This means studying past performance, current injuries and weather reports for both teams/athletes and comparing them to the odds you’re seeing at the sportsbook. This will give you a better idea of how much action to expect and what kind of bets might be best for your bankroll. It’s also a good idea to use an online calculator to figure out the probability of winning and losing. This can help you determine if you have a positive or negative expectation. It’s also a good idea for bettors to track their losses and wins, especially when they’re betting on major sports, because this can help them avoid big money mistakes.