As legal sports betting takes hold in the United States, millions of fans are putting billions on the line. The Supreme Court’s decision to permit gambling on sports in 2018 has transformed the way the game is played. While the average casino game, lottery or a trip to the state fair is random and involves no strategy, sports betting has spawned a belief that some fans can create an edge by studying the game and relying on analytics.
This belief has given rise to a whole new industry. It also has led to some major problems. Studies have shown that between 0.5 percent and 5 percent of people engage in problem gambling related to sports betting. Young men are particularly vulnerable. Many of them began betting because they were sports fans, with allegiances to a team or a league. As their skills improved, they started making more and more bets. Then they would win and lose big, and believe that they were becoming “sharps.”
One of the best ways to limit the risks of sports betting is to focus on a sport or two. It’s also important to track your bets, identifying which ones perform well and which ones do not. You can then use this information to develop a system or model that aligns with your betting style. While there are pre-made betting systems available for purchase, a custom model developed by you is more likely to yield consistent profits.