Do I need to know every team and all their stats?

It can be a big help if you are familiar with a sport and their teams and players. This can help give you an edge when placing your bets on upcoming sporting events like football matches or horse races. With that being said there are no guarantees your knowledge will help you place the winning bets. Unforeseen events can happen including injuries, red cards and lucky shots. Even the best teams can have an off day and the worst teams can surprise everyone.