The NFL and NHL seasons are underway, and college basketball is set to get off the ground soon. Whether you’re looking for an exciting way to spend your spare time or simply want to cash in on the action, sports betting can be a profitable and fun hobby. Here are a few things you should know before you start placing your bets.
The profit potential of your bets is based on the odds at the time you place them and the amount of money you invest. It’s important to understand how this calculation works so you can whittle down the available wagers to those that offer the best value.
Understanding decimal odds is also key to making sound bet decisions. The odds that you see on the screen are calculated using a formula that takes into account both the probability of a team or player winning and the number of points that can be scored in a game. Those numbers are then added together to form the total number of points that can be scored.
Handicaps are another great way to stretch your wagers. They level the playing field by adding or subtracting a specific number of points from the favourites’ actual win probability. The underdog must win by more than the handicap for a bet to win.
As a bookmaker, sportsbet has an obligation to promote responsible gambling. This means they need to support regulations that prevent minors from betting and provide tools that help people control their gambling habits. These include a self-service tool called Take a Break, which allows people to limit their gambling for a period of time or permanently.