Betting is done through Sportsbooks (US) or Bookmakers (UK) entities that accept bets. You can bet on the results 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 over the phone with many sportsbooks. Note that a sports book or sportsbook is not the same as an oddsmaker. The sportsbook simply accepts sports bets. An oddsmaker is a person 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 amount you're wagering. Your selection will obviously be determined by the odds offered, so you would want to examine the number of odds available before you decide.
There are many types 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. Without 8us in on successful at given odds.
Point Spread.
This bet lets you bet on a winner 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 favourite and a - sign for the underdog. The favorite must win by more than the Point Spread that you should win; otherwise you lose your bet even if the team wins. Inversely, if you bet for the underdog, that team has to lose by significantly less than the Point Spread for you to win. If the favourite wins by the exact Point Spread, then this 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 Key Points. Move the Point Spread favorably at a cost.
The Money line.
This establishes the chances for each team but inversely proportional from what is 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 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 every $180 without a doubt on A you would win $100 or lose $180, but also for every $100 without a doubt on B you would 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.
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 first win on the bet of the following game selected, and so forth. 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 choice to include 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 number 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 that allows the bettor to make a second wager, up to an equal amount, pending a win on the initial selection.
Open Wager.
Open wagers allow the bettor to play teasers or parlays creating a selection at differing times and even different days.
Future.
A bet on a future event. In the beginning of each season, the sportsbooks give out odds for teams to win a particular championship. The chances change because the game date approaches and in most cases get shorter, but in the event that you win you get paid at the original odds that you took. That is possibly just about the most profitable bets when you have considerable knowledge of the activity 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 selection of other sports related events and activities. A few others will need bets on just about 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.