As we gear up for NFL Week 1, the excitement around sports betting in America is reaching new heights. According to the American Gaming Association’s Commercial Gaming Revenue Tracker, a staggering $119.84 billion was wagered on sports betting in 2023, marking a significant 27.5% increase from the previous year. The revenue generated from these bets reached an impressive $10.92 billion, showing a substantial growth of 44.5% from 2022.
With new users flocking to sportsbooks to bet on the NFL, it is important to keep some key tips in mind. Here are five essential practices to follow, especially in the early stages of your sports betting journey.
First and foremost, it is crucial to familiarize yourself with the NFL Week 1 odds board. Understanding terms like moneyline and total (over/under) can make a big difference in how you approach betting on football games.
When it comes to managing your bankroll, flat betting is a strategy that many successful punters swear by. By wagering a fixed amount per bet, regardless of your confidence level, you can gradually grow your bankroll over time. This disciplined approach can help you weather both winning streaks and losing skids without risking too much of your funds.
Line shopping is another important aspect of bankroll management. By comparing odds across different sportsbooks, you can ensure that you are getting the best possible value for your bets. Websites like TheLines.com offer tools to help you find the most favorable NFL Week 1 promo codes and maximize your expected value.
Finally, setting limits on how much of your bankroll you wager per bet is essential. Starting with 1% to 5% of your total funds per wager can help you avoid big losses during rough patches and prevent you from going overboard during hot streaks.
As you dive into NFL betting this season, keep these tips in mind to improve your chances of success and make the most of the exciting opportunities that sports betting has to offer. Whether you’re betting on game day or preparing your picks in advance, a solid bankroll management strategy can help you navigate the ups and downs of the NFL season with confidence.
