During the Super Bowl this Sunday, millions of Americans will be glued to their TVs not just to watch the game but also to place billions in wagers. Thanks to the Supreme Court’s decision in 2018 to allow states to legalize sports betting, the industry has exploded.

It’s important to remember that sports betting is a form of gambling and there are risks associated with it, just like in a casino or lottery. However, if you are smart about your wagers, keep track of your bets (a standard spreadsheet works fine), and follow sound money management strategies, you can improve your chances of making profitable bets over time.

The key to profitability is objective research and analysis. Getting too emotionally attached to a team or player can lead to emotional betting decisions that skew your bets in the wrong direction. It can be difficult to resist the temptation to recoup losses by increasing your bet size after a loss. Instead, you should focus on finding value bets and stick to your normal bet sizing.

Sportsbooks adjust lines, or “lines,” based on the expected margin of victory for each team. This is done by “giving away” or “taking” points, goals, or runs. The goal is to make the spread as close to a level playing field as possible and it is why many bettors prefer to bet against the line.

In addition to the traditional bets on individual games, there are a number of prop bets available. These are bets on specific occurrences during a game, such as the first touchdown scored or how many yards a quarterback will throw for. Props can be fun to bet on and offer a unique perspective on the game, but it’s important to understand their limitations.

Another popular type of bet is a futures bet. This is a wager on an outcome for the upcoming season or year and can be placed any time after September. For example, a futures bet on a Super Bowl winner could pay out as soon as January or February, depending on how far out the bet was placed.

Finally, bettors can also get involved in sports pools or fantasy leagues to test their knowledge of the sport and find winning edges. Pools range from small office or family competitions to large-scale internet-based contests in which bettors choose actual athletes to fill out a virtual roster ahead of a game or tournament. These bets can provide a social element to sports betting and can make the experience more enjoyable for everyone involved.