In sportsbetting, you place a wager on an outcome of a sporting event. If your prediction is accurate, you win a set amount of money. The process is fairly simple, but there are countless nuances to master over time. Some bettors make a living from this type of betting, while others simply wish to add more excitement to a match.

The main concept that you need to understand is the odds. These are expressed as a ratio of units paid to units wagered, with the number representing how much you stand to win for a $100 wager. For example, if you placed a bet on the Yankees to win the World Series, you would receive 50 times the amount of your initial wager if they were to do so.

Another concept that you need to understand is spread bets, also known as point spreads. These are created by oddsmakers to create an even playing field between two teams. They require the favorite to win by a specific number in order to cover the spread, while giving bettors a chance to win on an underdog team.

Another common type of bet is a totals bet, which focuses on the final score of a game rather than who wins. For example, if the Rams and Seahawks were expected to combine for more runs, goals, and points than the total posted by oddsmakers, you would place an over bet. If the match was a defensive slugfest, however, you would place an under bet.