People make money betting on sports, and many others just enjoy watching the competition. While only a few people are successful in the long run, millions of people wager on sporting events each year. The Daily Mail estimates that the global sports betting market is worth around three trillion dollars. But there are some important rules you should follow when you’re placing your bets. Read on to learn how to place a bet. There are two types of bets: straight wagers and bets that cover the spread. The latter wins when the favorite loses by less than the spread or when the underdog wins the game outright.

Straight wagers. A straight bet involves a single bet on the winning team. This bet can be placed on the money line, point spread, or total. A straight bet can be placed on the favorite team, underdog team, or dog, or over/under the predetermined total. It is a good way to get started in sportsbetting. You should learn to analyze the odds and determine which team will win or lose the game.

The “hook.” The oddsmaker will try to sway your bet by adding a half-point to the point spread. In football, this will give the favorite more value. If the underdog wins, lay less than seven points. The same rule applies to basketball. In many games, key numbers decide the winner. A team that is favored over one that is favored over another will have the edge over the other. But be careful when laying too much is risky.