Josh Appelbaum

Believe it or not, bankroll management can be just as important as picking winners. The goal is to map out a disciplined, consistent strategy that allows you to maximize profits and minimize losses, providing long-term sustainability. Think of bankroll management as the way to invest in sports, not just bet on them. Before placing a single wager, bettors must ask themselves this fundamental question: How much can I afford to lose?

Sharp bettors, known as "sharps" or "wiseguys" for short, are the experts of the sports betting industry. They are the professional bettors who have a long track record of success and win at a high rate. They have decades of experience and typically bet large amounts on games. Unlike public bettors who place wagers for fun as a hobby or source of entertainment, pros have no other day job. Sports betting is their full-time job and only source of income. _x000D_

​Most sports have three distinct seasons: Preseason, regular season and postseason. Bettors need to be conscious of the fact that each season brings its own set of variables. The amount of money the house accepts in bets, also known as the handle, can vary. So can motivations. As a result, bettors need to be aware of the sports betting calendar and make sure they approach each season differently. _x000D_ _x000D_

According to a UNLV Center for Gaming Research study, more than $81 billion was bet on sports in Nevada from 1984 to 2018. Of that total, Nevada won $3.9 billion. Why does Vegas win so much money? Sure, it sets very accurate and hard-to-beat lines and capitalizes on the luck and randomness of betting. But it holds a built-in advantage over bettors based on the rules of the game and overlooked fine print. This advantage is popularly referred to as the “house edge.”

​If you're new to sports betting, the first thing you need to learn is the basic fundamentals. Among many things, this includes understanding the different bet types available to you, specifically the spread, moneyline and total. But if you want to take betting to the next level, you must advance to more intermediate betting concepts.

Power Ratings are numerical values assigned to each team in each sport, with the best teams at the top and worst teams at the bottom. It is a way to rank and rate all of the different teams based on their overall strength and then compare each team to one another. Power Ratings are subjective and professional bettors can have differing opinions.