When millions of fans huddle around their TVs this Sunday to watch the Super Bowl, they won’t just be betting on the game, they will have money — sometimes thousands of dollars – on the line. Sports betting has exploded since the Supreme Court allowed states to legalize the practice in 2018, and it has changed the way we watch sports.

A large portion of sports wagers are called “prop” bets, or proposition bets. They range from the traditional — such as predicting the winner of an event — to the outlandish, like a bet on how long Reba McEntire will take to sing the national anthem during Super Bowl LII. Regardless of the type of bet, a sportsbook’s odds offer a clear indication of how much a bettor could win if the bet is successful. If a team or player’s odds are higher than those of the other, it is considered to be the favorite.

While it’s not easy to make a living from sports betting, it can be profitable if you are dedicated and follow sound bankroll management principles. A good rule of thumb is to risk no more than 1% to 5% of your bankroll on each bet.

Profitable sports betting requires a lot of research, in-depth analysis, and discipline. Don’t be fooled into thinking that it’s an easy get-rich-quick scheme, and stay away from services that promise guaranteed wins. Successful sports bettors put in hours of work, study stats and matchups, and follow professional handicappers for guidance and tips.