Sports Betting 101
Sports betting is the act of predicting and placing a wager on the outcome of sporting events. It can be done through a traditional sportsbook or online.
There are many different types of sports bets, including straight bets (one bet on one team), spread bets, total (Over/Under) bets, futures and prop bets. Understanding them is important for anyone who wants to be successful in sports betting.
A straight bet is the most common type of bet in American sports betting. It involves betting on a single team, usually a favorite, against the odds. The amount you’ll win if the bet wins is determined by the odds, while the amount you lose is the vig or “vigorish” that the sportsbook charges for handling your bet.
A spread bet is a type of win-loss bet that involves “taking” or “giving away” a specific number of points, goals or runs. This is related to margins of victory and can be a useful tool for bettors who like to take advantage of team strengths or weaknesses.
Total (Over/Under) Bets
If you are new to sports betting, the first thing you should do is create a bankroll – a set amount of money that you’re willing to risk on each bet. This allows you to build a solid foundation that can handle the occasional bad day. It also helps you avoid over-betting on games that aren’t going your way. A good rule of thumb is to risk only 1% to 5% of your bankroll per game.