Betting is done through Sportsbooks (US) or Bookmakers (UK) entities that accept bets. You can bet on the results of several sports, such as; Baseball betting, Basketball betting, Football betting, Tennis betting, Hockey betting, Snooker and Soccer betting games.
To place an activity bet, you go to a sportsbook, physical or online. You might bet on 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 creating a selection, the kind of bet and the total amount you are wagering. Your selection will obviously be determined by the odds offered, so you would want to examine the range of odds available before you make a decision.
There are many types of bets it is possible to place. Some sportsbooks may offer more betting varieties and combinations than others. Below is a list of the more prevalent types of bets.
Straight bet or Single.
Here is the simplest & most common bet. You bet on a winner at given odds.
Point Spread.
This bet lets you bet on a winner from two selections who have been made equal by allocating appropriate points to the underdog team. THE IDEA Spread is the number of points allocated and is shown with a + sign for the favourite and a - sign for the underdog. The favorite 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, in the event that you bet for the underdog, that team must lose by significantly less than the Point Spread that you should win. If the favorite wins by the precise Point Spread, then this is a push or a tie. You get your bet back. To get rid of a tie result, the oddsmakers sometimes include 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 chances 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 will be 10:18 odds-on for the favourite, and 12:10 for the underdog. For every $180 you bet on A you'll 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 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 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 initial win on the bet of the following game selected, etc. Hi88 of the selections made must win that you should 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 like a parlay, but with the option to include or subtract points (called 'moving the line') in one or even 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 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 than the parlays.
If-wager.
A bet which allows the bettor to produce a second wager, up to an equal amount, pending a win on the first selection.
Open Wager.
Open wagers permit the bettor to play teasers or parlays creating a selection at differing times and even 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 generally get shorter, but if you win you obtain paid at the original odds that you took. This is possibly probably the most profitable bets when you have considerable knowledge of the activity 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 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.