Betting is performed through Sportsbooks (US) or Bookmakers (UK) entities that accept bets. It is possible to bet on the outcome of several sporting events, such as for example; 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 the same as an oddsmaker. The sportsbook simply accepts sports bets. An oddsmaker is a one who sets the sports betting odds.
You need to state what you are betting on by making a selection, the sort of bet and the total amount you are wagering. Your selection will obviously be determined by the odds offered, which means you will want to examine the number of odds available before you decide.
There are many forms of bets you can place. Some sportsbooks may offer more betting varieties and combinations than others. Below is really a list of the more prevalent types of bets.
Straight bet or Single.
This can be a simplest and most common bet. You bet on a winner 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 amount 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 you might win; otherwise you lose your bet even if 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 perhaps a tie. You obtain 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 cost.
The Money line.
This establishes the odds for each team but inversely proportional to what would have been a Point Spread, and is indicated by a + for the underdog and a - sign for the favorite. Say team A is favorite and quoted at -180 and B may be the underdog at + 120. The bets offered would be 10:18 odds-on for the favorite, and 12:10 for the underdog. For each $180 without a doubt 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 number of points scored in the game by both teams combined, including points scored in overtime.
Over/Under.
A bet that the combined amount of points scored by both teams in the overall 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 two or more games with the intent of pressing the winnings of the first win on the bet of the following game selected, and so forth. All the selections made must win that you can win the parlay. If 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 just like a parlay, but with the choice to add or subtract points (called 'moving the line') from one or even more Spread bets. When betting a teaser additional points are either added to the underdog or subtracted from the favorite. 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.
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A bet which allows the bettor to generate a second wager, around an equal amount, pending a win on the initial selection.
Open Wager.
Open wagers allow the bettor to play teasers or parlays making a selection at different times and even different days.
Future.
A bet on another event. In the beginning of every season, the sportsbooks hand out odds for teams to win a particular championship. The chances change as the game date approaches and in most cases get shorter, but in the event that you win you obtain paid at the initial odds that you took. That is possibly just about the most profitable bets should you have considerable knowledge of the sport you are betting on including 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 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.