Betting is done through Sportsbooks (US) or Bookmakers (UK) entities that accept bets. You can bet on the outcome of several sports, 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 visit a sportsbook, physical or online. You could also bet on 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.
It is advisable to state what you are betting on by creating a selection, the sort of bet and the amount you're wagering. Your selection will obviously depend on the odds offered, and that means you will 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 really a list of the more prevalent types of bets.
Straight bet or Single.
Here is hit club & most common bet. Without a doubt on successful 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 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 so you might win; otherwise you lose your bet even though the team wins. Inversely, if you bet for the underdog, that team must lose by less than the Point Spread so you might win. If the favorite wins by the exact Point Spread, then it is a push or perhaps a tie. You obtain your bet back. To get rid of a tie result, the oddsmakers sometimes add a half point spread. Since scores use full numbers only, one team has to win outright.
Buy Points.
Also, to buy TIPS. Move the Point 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 favorite. Say team A is favorite and quoted at -180 and B may be the underdog at + 120. The bets offered will be 10:18 odds-on for the favourite, and 12:10 for the underdog. For each and every $180 without a doubt on A you would win $100 or lose $180, but for every $100 you bet 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 number of points scored by the two 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 several games with the intent of pressing the winnings of the initial win on the bet of the following game selected, and so on. All the selections made must win so 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 such as a parlay, but with the choice to add or subtract points (called 'moving the line') in 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 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 produce a second wager, up to the same amount, pending a win on the first selection.
Open Wager.
Open wagers allow the bettor to play teasers or parlays making a selection at different times and also different days.
Future.
A bet on another event. In the beginning of each season, the sportsbooks give 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 get paid at the initial 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. Several others will need 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.