Betting is performed through Sportsbooks (US) or Bookmakers (UK) entities that accept bets. It is possible to 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 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 must state everything 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, and that means you will want to examine the range of odds available before you make a decision.
There are many forms 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.
This is actually the simplest and most common bet. You bet on a winner 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 amount of points allocated and is shown with a + sign for the favorite and a - sign for the underdog. The favourite 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, in the event that you bet for the underdog, that team has to lose by less than the Point Spread for you to win. If the favorite wins by the precise Point Spread, then this is a push or 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 Key Points. Move the idea Spread favorably at a price.
The Money line.
This establishes the chances 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 favourite. 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 each $180 you bet 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.
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 game will undoubtedly be Over or Beneath the total set by the oddsmaker.
thabet 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, and so forth. All the selections made must win that you 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 option to add 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 favourite. The odds vary based on the amount of points the spread is moved and the amount of teams combined to create 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 make a second wager, up to an equal 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 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 as the game date approaches and generally get shorter, but in the event that you win you get paid at the original odds that you took. This is possibly one of 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 selection of other sports related events and activities. A few others will take bets on almost 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.