A lot of decent advice in here.....I also have found CBB the easiest to 'cap and the most profitable. The kids always try hard unlike NBA or NFL.
I use a somewhat complicated, analytical method of 'capping. I use a spreadsheet that does most of the work, but it took a few years to set up with all the filters that I feel are necessary. Basic knowledge and experience is all that is required to have fun. If you're planning on actually making a serious effort at the cash, you'll need to read about all the teams and conferences, players etc.
I tend to disagree with Homedog about HCA. Certainly, it is important, but I've found that there are only 34 teams (out of 346) that HCA is significant enough to alter my lines.
If you google Ken Pomeroy, you'll find enough information to get you started. His method is related to Pace of play. He then computes Offensive efficiency, which basically evaluates how many points a team will score in 100 possessions. He also uses Defensive efficiency in the same manner. In the matchups, it's possible to predict a score using those numbers.
This is very elementary, but using this method, combined with HCA and common sense it's possible to make some money. The Vegas lines are not as accurate as you may think, especially this early in the season. You simply need a method to identify those that are in error.
Also, one very important aspect. On this forum and others, you'll notice some 'cappers that know a great deal about local teams. I'm not going to mention anyone by name, but scour the forums and you'll find them. It's very helpful as they are like having "scouts" in various cities. Trying to acquire inside information on 346 teams is next to impossible. These guys narrow it down to the teams and conferences they know most about. I appreciate their effort and sharing.
Sorry for the long post....
Good Luck on your action...