Sports betting is an activity in which individuals wager money on the outcome of various sports. It can involve any type of sporting event, from the biggest events like the Super Bowl to minor league games.
In a number of states, sports betting is legalized, though some have more complicated laws than others. Some states have a long history of legalizing sports gambling, while others are new to the industry.
The Supreme Court struck down PASPA in 2018, allowing more states to offer legal sports betting. In addition, a growing number of sports have started to allow in-state betting, which is more convenient for people who live outside the state where the event takes place.
A good first step in sports betting is to figure out how much money you can afford to lose, which will help you decide how large a stake you should place on each bet. It is also important to diversify your investments, which minimizes the risk of a single loss ruining your bankroll.
One way to do this is to register with several sportsbooks so you can compare their odds and lines. This will help you find the best bet for your budget, and it will also increase your overall winnings.
Another way to make money in sports betting is through spread betting. This is where oddsmakers handicap one team and favor another by assigning a point spread to each game.
In most sports, the favorite “gives” points from the final score, and the underdog “takes” points to offset this. In baseball, for example, the favorite is typically a good bet, but underdogs can sometimes pull off upsets as well.