Our Top 20 Sports Betting Tips

These are Sportmoney’s top 20 tips to increase your chances of sports betting success. We hope this guide helps inform your strategy and increases your chances of winning in the long run. Remember: You generally have to win over 50% of your bets to break even because of the vig.

1. Understand the Basics

Learn the terminology and odds before you get started. Understand how betting works (moneyline, spread, totals) and the different types of wagers available (parlays, teasers, props). The Sportmoney Glossary is a good place to start.

2. Do the Research

Always research teams, players, recent performance, injuries and historical stats. Don’t just rely on what you think will happen.

3. Set a Budget

Decide how much you’re willing to lose overall (bankroll) and set limits. Never bet more than you can afford to lose, and avoid chasing losses.

4. Bet with Your Head, Not Your Heart

Be objective. Don’t bet on your favorite team or player just because you want them to win. Emotions can cloud judgment.

5. Manage Your Bankroll

Use proper bankroll management to minimize risks. Avoid betting large sums on a single game, and bet consistent, calculated amounts.

6. Shop for the Best Lines

Compare odds from multiple sportsbooks. A small difference in odds can significantly impact your long-term profitability.

7. Understand Value

Bet when you believe the odds are in your favor. Look for opportunities where the sportsbook has mispriced the odds.

8. Specialize in One or Two Sports

Focus on specific sports and learn everything about them, including league rules, teams, and players. Becoming an expert in one or two sports is more profitable than being a generalist.

9. Avoid Parlays (Unless You’re an Expert)

While parlays have high payouts, they are much harder to win. Stick to straight bets for better consistency.

10. Watch for Line Movements

Track how odds and spreads change over time. Significant movements may indicate insider knowledge or major shifts in team performance.

11. Know When to Bet Early vs. Late

Betting early gives you better odds in some cases, but betting late allows you to take advantage of final line-ups and injury reports.

12. Don’t Bet on Every Game

It’s tempting to bet on a full slate of games, but only place bets where you have an edge or feel confident in the outcome.

13. Take Advantage of Bonuses

Many sportsbooks offer sign-up bonuses, free bets or loyalty programs. Take full advantage of these promotions, but read the fine print.

14. Keep Records of Your Bets

Track all your bets, including the amount wagered, odds, outcome, and rationale. Analyzing past performance can help improve future bets.

15. Avoid Overestimating Short-Term Success

Betting success takes time. Don't be discouraged by a few losses or overestimate after a few wins. Long-term consistency is key.

16. Learn from Your Losses

If you lose a bet, take time to analyze why it happened. Understand your mistakes and use them as learning opportunities.

17. Bet on Underdogs with Value

Underdogs can provide significant value, especially when the public is overestimating the favorite. Analyze if the underdog has a legitimate chance of winning.

18. Follow Expert Insights

Follow experts and analysts, but always make your own decisions. Use their insights for additional perspectives.

19. Avoid Emotional Betting

Don’t bet out of frustration, boredom or the desire to recover losses. Betting should be a disciplined, thoughtful activity.

20. Know When to Walk Away

Know when to stop betting. If you’ve hit a losing streak or reached your daily/weekly limit, take a break and reassess.

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