The Supreme Court decision to legalize sports gambling opened the floodgates for Americans to gamble on their favorite teams and players without taking a trip to Atlantic City or Las Vegas. However, the reality is that many people aren’t able to make a living betting on sports.

It’s important for punters to develop a solid strategy and seek professional guidance before placing any bets. They should also conduct extensive research on the teams, players, and matchups. This includes studying recent performances, injuries, head-to-head records, and home advantage. Additionally, they should look for value bets in which the odds don’t accurately reflect the expected outcome of a particular event.

Lastly, punters should avoid making decisions based on emotion or personal bias. It’s easy to get caught up in the excitement of supporting a team or player but it’s important to focus on objective research and analysis when placing a bet. This will help you avoid chasing losses and instead turn them into profits over time.

Another key to being profitable is finding the best betting sites. Most bookmakers offer different odds for the same events and it’s important to scour multiple platforms to find the best odds. This will give you the highest chance of creating a winning formula.