Sports betting has exploded across America since the Supreme Court struck down the Professional and Amateur Sports Protection Act in 2018. What was once limited to Nevada gambling facilities is now available at any casino or online sportsbook. This makes it much easier to place a wager without needing to take a plane or cab to Atlantic City or Las Vegas.

While it is possible to turn a profit from sports betting, it’s not easy. Most sports bettors lose money, especially in the short term. This is why it’s important to stick with a well-thought-out strategy, and be disciplined in your bankroll management. Depending on how many bets you make per day, it’s recommended that each bet represent one to two percent of your total bankroll.

In general, a team or event will be given odds based on its probability of winning or happening. A higher probability means lower risk, but it also won’t pay out as much as something with a lower probability. The difference is called the house edge and it’s a part of the reason that people lose money when betting on sports.

To increase your chances of making a profit, be sure to do your research. Betting with your heart isn’t smart and can lead to bad decisions. Instead, bet with your head, which is why it’s a good idea to have a math background or at least understand basic statistics. You should also avoid chasing bets (ones where you’ve lost) as this can quickly deplete your bankroll.