Many sports fans enjoy betting on their favorite teams and events, and the practice is now a part of mainstream sports culture. However, most people lose more money than they win when betting on sports. That’s why it is so important to set goals and stick with a plan for winning bets.
When you start winning a lot of your bets, it can become tempting to bump up the amount of money you’re wagering. But this is a dangerous approach. Increasing your bet size without properly preparing for it can cause you to quickly blow through your profits and turn a profit into a loss.
Another common mistake is to let your fandom influence your decisions. Separate your fandom from your gambling and focus on the facts, not what color jersey a team wears. Do your research into both teams, including injuries and anything else that could impact a game.
Some of the most popular bets are point spreads, moneylines and over/unders. A point spread is the difference in points between two teams, and the bettor must bet on the team with the higher probability of winning to cover the point spread (for example, the Patriots are three-point favorites against the Bills).
Most mobile sportsbooks also allow you to use virtual or e-wallets to fund your account, making it easy to keep track of your wagers and bankroll. By keeping your bankroll in units, you can easily see how much you’re spending and how profitable you are.