When betting on sports, the most important thing to remember is that odds are merely suggestions of a match’s outcome. However, if you know how to calculate implied probability you can get the most out of your wagers by placing bets that are closer to the actual probability of winning or losing. Implied probability is the estimated likelihood of a given team or player winning, and can be calculated by converting odds into percentages.

One of the best ways to make sure you’re getting good value on your bets is to shop with multiple online bookmakers. This will help you find the best odds for your bets, and you can also use a site like Sportsbet’s price boost feature to place a bet at the highest available price.

In addition to their extensive selection of betting markets, Sportsbet offers a Same Game/Race Multi Builder function, statistics, insights, tips, live streaming, a blackbook and Speedmaps. They also offer a Bet With Mates function where you can pool your funds and bet together on any racing or sports market.

It’s a good idea to have a specific bank account that you use exclusively for betting on sports. This way, you can be sure you’re only betting with money you can afford to lose. Also, make sure to always bet sober and be in control of your emotions. Otherwise, you can easily fall prey to the temptation of chasing a win or losing streak and end up going on Tilt, which is the term used for when you’re betting with emotion rather than rationally.