Sportsbetting involves putting money behind an outcome of your choice and being paid out if it comes to fruition. Different bets offer different payouts depending on the amount you wager, the type of bet, and the odds associated with it. Some bets, like those placed on the winner of a game, are called moneyline bets. Others involve betting that a team will win by a certain number of points, known as spread bets. Finally, parlays—which combine multiple outcomes into one bet—can offer even greater payouts than individual bets.
Odds are displayed as fractional numbers such as 10/1 or 7/2. These represent how much you’ll win if you bet $100 and the team wins. Oddsmakers use complex analytics to determine the probability of a bet winning and then translate that into odds by adding in their profit, known as juice.
The best way to make money in sports betting is to be selective about your wagers. Avoid betting on teams you’ve been rooting for since childhood and bet with your head, not your heart. Unless you’re a professional, most bettors can’t predict winners with a high percentage of accuracy, so it’s important to manage your bankroll carefully and limit the amount of money you risk on each bet.
In addition to moneyline, spread and parlay bets, sportsbooks also offer a wide variety of prop bets. While most of these bets relate to the final result of a game, some are based on individual player or team performance and others have nothing to do with the actual action on the field or court.