Sports betting is one of the largest and most popular gambling activities. It can be fun and rewarding, but it is also not without risk. It is possible to make money betting on sports, but most people lose more than they win. This is why it’s important to know your limits and to never wager more than you can afford to lose.

The main types of bets available for sports are moneylines, spreads, and totals. Each type of bet has different odds and payouts, and understanding how each works is a key part to making smart decisions. Moneylines are the most common bets, and they give you a chance to win big by predicting the winner of a game. The odds on a moneyline are based on the probability that a team will beat its opponent; for example, a 5-point favorite would pay out $106 to $100 if it wins.

Spreads, which are near-even bets based on how many points the favored team is expected to win by, offer a safer way to place a bet and still get a positive return. These bets are often more accurate than moneylines because they account for factors such as injuries and other unforeseen events.

Parlays, which combine multiple straight bets into a single multi-bet, are more difficult to hit but can pay out significantly larger amounts than individual bets. They also tend to have lower minimum bet amounts, making them more accessible for newcomers to the sport.