Whether you’re new to sports betting or a veteran, there are some basic things that you should know. It’s important to take a long-term approach and remember that there are no guaranteed wins. As with any other activity, you’ll have good days and bad days. You’ll need to develop a method for reducing the amount of money you risk on each play. One method is to use a flat-betting approach. This involves betting 1% to 5% of your bankroll on each play. First, you should understand that sports betting is a very popular activity. Sports gambling is a multibillion-dollar industry. This means that millions of sports fans will be entering the betting market for the first time.