Betting is done through Sportsbooks (US) or Bookmakers (UK) entities that accept bets. You can bet on the results of several sports, such as; Baseball betting, Basketball betting, Football betting, Tennis betting, Hockey betting, Snooker and Soccer betting games.
To place a sport bet, you go to a sportsbook, physical or online. You might bet over the phone with many sportsbooks. Remember that a sports book or sportsbook is not exactly like an oddsmaker. The sportsbook simply accepts sports bets. An oddsmaker is a one who sets the sports betting odds.
You must state what you are betting on by making a selection, the kind of bet and the total amount you're wagering. Your selection will obviously depend on the odds offered, which means you will want to examine the number of odds available before you make a decision.
There are many types of bets it is possible to place. Some sportsbooks may offer more betting varieties and combinations than others. Below is a list of the more prevalent types of bets.
Straight bet or Single.
This is the simplest & most common bet. You bet on a winner at given odds.
Point Spread.
This bet enables you to bet on successful from two selections who've been made equal by allocating appropriate points to the underdog team. THE IDEA Spread is the number of points allocated and is shown with a + sign for the favorite and a - sign for the underdog. The favourite must win by a lot more than the Point Spread so that you can win; otherwise you lose your bet even though the team wins. Inversely, if you bet for the underdog, that team must lose by significantly less than the Point Spread so that you can win. If the favourite wins by the precise Point Spread, then it is a push or a tie. You obtain your bet back. To get rid of a tie result, the oddsmakers sometimes include a half point spread. Since Hi88 use full numbers only, one team has to win outright.
Buy Points.
Also, to buy Key Points. Move the idea Spread favorably at a price.
The Money line.
This establishes the chances for each team but inversely proportional to what would have been a Point Spread, and is indicated by way of a + for the underdog and a - sign for the favorite. Say team A is favorite and quoted at -180 and B is the underdog at + 120. The bets offered would be 10:18 odds-on for the favourite, and 12:10 for the underdog. For every $180 without a doubt on A you would win $100 or lose $180, but for every $100 without a doubt on B you'll win $120 or lose $100.
Total.
A bet for the amount of points scored in the overall game by both teams combined, including points scored in overtime.
Over/Under.
A bet that the combined amount of points scored by the two teams in the game will undoubtedly be Over or Under the total set by the oddsmaker.
Parlay or Accumulator.
A multiple bet. Some sort of 'let-it-ride' bet. Making simultaneous selections on several games with the intent of pressing the winnings of the initial win on the bet of the following game selected, etc. All of the selections made must win that you should win the parlay. If a game is really a tie, postponed or cancelled, your parlay is automatically reduced by one selection; a double parlay becomes a straight bet, a triple parlay becomes a double. A parlay bet can yield huge dividends if won.
Teaser.
It is such as a parlay, but with the option to include or subtract points (called 'moving the line') from one or more Spread bets. When betting a teaser additional points are either added to the underdog or subtracted from the favourite. The odds vary according to the amount of points the spread is moved and the number of teams combined to form the teaser. As in the parlay, all selections must win for the teaser to win. Teasers odds are usually worse than the parlays.
If-wager.
A bet which allows the bettor to produce a second wager, around the same amount, pending a win on the first selection.
Open Wager.
Open wagers permit the bettor to play teasers or parlays creating a selection at differing times and even different days.
Future.
A bet on another event. In the beginning of each season, the sportsbooks hand out odds for teams to win a particular championship. The odds change because the game date approaches and in most cases get shorter, but if you win you obtain paid at the initial odds that you took. That is possibly probably the most profitable bets when you have considerable knowledge of the sport that you are betting on including the players, and a good sense of judgment.
Exotic Bets.
Betting on unusual events. Some sportsbooks post odds and take bets on a wide variety of other sports related events and activities. A few others will need bets on almost anything you can think of.
Proposition Bet or Prop Bet.
An offer of bets at odds and conditions chosen by the sportsbook, usually on 'Exotic' bets.