Betting is performed 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 a sport bet, you go to 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 should state everything you are betting on by creating a selection, the sort of bet and the amount you are wagering. Your selection will obviously depend on 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.
bj88 or Single.
It is the simplest & most common bet. You bet on successful at given odds.
Point Spread.
This bet enables you to 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 number of points allocated and is shown with a + sign for the favorite and a - sign for the underdog. The favorite has to 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 less than the Point Spread that you should win. If the favourite wins by the exact Point Spread, then it is a push or perhaps 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 has to win outright.
Buy Points.
Also, to buy Key Points. Move the idea Spread favorably at a price.
The Money line.
This establishes the odds for every team but inversely proportional from what is 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 each $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 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 game will 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 first win on the bet of the following game selected, etc. 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 like a parlay, but with the option to include or subtract points (called 'moving the line') from one or more Spread bets. When betting a teaser additional points are either added to the underdog or subtracted from the favorite. The odds vary based on 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 compared to the parlays.
If-wager.
A bet that allows the bettor to generate 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 different times and also different days.
Future.
A bet on a future event. At the start of every season, the sportsbooks hand out odds for teams to win a certain championship. The chances change as the game date approaches and generally get shorter, but if you win you obtain paid at the initial odds that you took. That is possibly 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 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.