Betting is done through Sportsbooks (US) or Bookmakers (UK) entities that accept bets. You can bet on the outcome 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 visit a sportsbook, physical or online. You could also bet over the phone with many sportsbooks. Remember that a sports book or sportsbook is not the same as an oddsmaker. The sportsbook simply accepts sports bets. An oddsmaker is really a person who sets the sports betting odds.
You need to state what you are betting on by making a selection, the type of bet and the amount you're wagering. Your selection will obviously be determined by the odds offered, and that means you would want to examine the range of odds available before you make a decision.
There are many types of bets you can place. Some sportsbooks may offer more betting varieties and combinations than others. Below is a list of the more common types of bets.
Straight bet or Single.
It is the simplest and most common bet. You bet on successful at given odds.
Point Spread.
This bet lets you bet on successful from two selections who've been made equal by allocating appropriate points to the underdog team. The Point Spread is the number of points allocated and is shown with a + sign for the favorite and a - sign for the underdog. The favorite must win by more than the Point Spread that you can win; otherwise you lose your bet even though the team wins. Inversely, in the event that you bet for the underdog, that team must lose by less than the Point Spread that you can win. If the favorite wins by the precise Point Spread, then this is a push or perhaps a tie. You get your bet back. To remove a tie result, the oddsmakers sometimes add a half point spread. Since scores use full numbers only, one team must win outright.
Buy Points.
Also, to buy TIPS. Move the idea Spread favorably at a price.
The Money line.
This establishes the odds for each team but inversely proportional from what would have been a Point Spread, and is indicated by a + for the underdog and a - sign for the favourite. 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 you bet on A you would win $100 or lose $180, but also 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 game by both teams combined, including points scored in overtime.
Over/Under.
New88 that the combined number of points scored by both teams in the overall game will undoubtedly be Over or Beneath the total set by the oddsmaker.
Parlay or Accumulator.
A multiple bet. A kind of 'let-it-ride' bet. Making simultaneous selections on several games with the intent of pressing the winnings of the first win on the bet of the next game selected, etc. All of the selections made must win so that you can win the parlay. In case a game is 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 add or subtract points (called 'moving the line') in 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 in line with the number of points the spread is moved and the number of teams combined to create the teaser. As in the parlay, all selections must win for the teaser to win. Teasers itâs likely that usually worse compared to the parlays.
If-wager.
A bet which allows the bettor to generate a second wager, around an equal amount, pending a win on the first selection.
Open Wager.
Open wagers allow the bettor to play teasers or parlays creating a selection at different times and even different days.
Future.
A bet on a future event. At the start of each season, the sportsbooks hand out odds for teams to win a certain championship. The chances change because the game date approaches and generally get shorter, but if you win you get paid at the original odds that you took. That is possibly probably the most profitable bets if you have considerable knowledge of the activity that you are betting on like the players, and an excellent 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. Several others will take bets on just about 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.