A lot of people think sports betting is a get-rich-quick scheme, but making a living from wagering on sports requires diligence and in-depth research. Professionals do not bet on teams and players they like; they place their bets based on the strength of their analysis, and they keep near-obsessive records of their picks. They also know the importance of analyzing team matchups and coaching strategies, as well as player histories and trends. This helps them find bets where the odds don’t accurately reflect the likely outcome of a game. These bets are called “point spreads,” and when a team wins by more than the number of points the bet was placed on, they win.
Betting on sports has exploded in popularity as the legalization of gambling in states like New Jersey and Nevada has expanded. It has also become more prominent in the media, with ESPN launching its own online sportsbook and podcasts dedicated to the subject. Sportsbooks are now offering bets on all sorts of things that have little to do with the actual games, such as how many songs Usher will sing at halftime or whether Chiefs tight end Travis Kelce will propose to his girlfriend Taylor Swift after the game.
While sports betting is not for everyone, there are plenty of success stories. From the legend of Billy Walters to Haralabos Voulgaris’s multi-million dollar sports betting business, there is no doubt that it’s possible to profit from a bet on the right team or player.