Until recently, sports betting was something you only did in Las Vegas or Atlantic City casinos. But in 2018, the Supreme Court opened the floodgates of legal gambling by letting states decide for themselves whether to allow sports betting. And with it, the opportunity for a lot of people to lose a lot of money quickly. That’s why it’s important to understand the intricacies of sports betting, the risks involved, and how you can make smart bets that maximize your winnings.

First and foremost, it’s important to remember that gambling is a form of entertainment, not a get-rich-quick scheme. It can be fun, but it’s not easy to win money at it over the long haul. It takes time, research and discipline. It also helps to have realistic expectations and to know what to expect from the sport you’re betting on. For example, if you’re betting on football games, it won’t be easy to win every bet or even most of them. But if you’re willing to make smart bets and walk away from bad ones, you can build up a solid bankroll over the course of a season.

Another thing to keep in mind is that, as with any other form of gambling, oddsmakers are looking for a profit. This means that they include their own commission in the odds they offer. That’s why it’s so important to compare odds between different sportsbooks, and why the best sports bettors keep near-obsessive records of their bets. Without keeping proper records, you won’t have a good idea of your true edge or how to maximize your profits.

If you’re betting on a game with points spreads, remember that a plus sign (+) means the underdog team is getting more points than the favorite. The minus sign (-) means the underdog is giving up more points than they should.

You can also make bets on player props, which are wagers based on individual performance or other non-team-related factors. These can be anything from how many touchdown passes a quarterback will throw to how much Gatorade a coach douses himself in.

Finally, don’t fall for bogus sports betting tips that promise guaranteed wins. There’s no such thing as a sure thing in gambling, and even the best bettors are not immune to losing streaks.

The Supreme Court’s decision to lift PASPA has set the stage for a whole new era of sports gambling in America, and that means more opportunities to win big (or lose it all). But before you put your money on the line, remember these tips to make smart bets and maximize your profits. Good luck! And don’t forget to budget for your bets so that you don’t end up draining your bank account or taking out a second mortgage on your home just to try and recover from a big loss. That kind of stupidity only makes the losses worse. And no one likes a desperate gambler.