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; Baseball betting, Basketball betting, Football betting, Tennis betting, Hockey betting, Snooker and Soccer betting games.
To place an activity bet, you visit a sportsbook, physical or online. You might bet on the phone with many sportsbooks. Remember that a sports book or sportsbook isn't the same as an oddsmaker. The sportsbook simply accepts sports bets. An oddsmaker is really a person who sets the sports betting odds.
You have to state everything you are betting on by creating a selection, the type of bet and the amount you are wagering. Your selection will obviously be determined by the odds offered, so you will want to examine the range of odds available before you make a decision.
There are many forms 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.
This is the simplest and most common bet. Without a doubt 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 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 for you to 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 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 cost.
The Money line.
This establishes the odds for each team but inversely proportional to what is a Point Spread, and is indicated by way of 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 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.
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A bet for the number of points scored in the overall game by both teams combined, including points scored in overtime.
Over/Under.
A bet that the combined number 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. A kind of 'let-it-ride' bet. Making simultaneous selections on two or more games with the intent of pressing the winnings of the initial win on the bet of the next game selected, and so forth. All of the selections made must win so that you can 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 choice to add or subtract points (called 'moving the line') in one or more Spread bets. When betting a teaser additional points are either put into the underdog or subtracted from the favourite. The odds vary based on the amount of points the spread is moved and the amount 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 create a second wager, around the same 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 also different days.
Future.
A bet on a future event. In the beginning of every season, the sportsbooks give out odds for teams to win a particular championship. The odds change as the game date approaches and generally get shorter, but if you win you obtain paid at the original odds that you took. This is possibly the most profitable bets should you have considerable knowledge of the sport that you will be betting on like 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 take bets on almost anything you can think about.
Proposition Bet or Prop Bet.
An offer of bets at odds and conditions chosen by the sportsbook, usually on 'Exotic' bets.