Betting is done through Sportsbooks (US) or Bookmakers (UK) entities that accept bets. You can bet on the outcome of several sporting events, such as; Baseball betting, Basketball betting, Football betting, Tennis betting, Hockey betting, Snooker and Soccer betting games.
To place an activity bet, you visit a sportsbook, physical or online. You might bet over the phone with many sportsbooks. Note that a sports book or sportsbook isn't exactly like an oddsmaker. The sportsbook simply accepts sports bets. An oddsmaker is really a one who sets the sports betting odds.
You should state what you are betting on by creating a selection, the sort of bet and the total amount you are wagering. Your selection will obviously depend on the odds offered, which means you would want to examine the range of odds available before you make a decision.
There are many forms of bets you can place. Some sportsbooks may offer more betting varieties and combinations than others. Below is a list of the more common types of bets.
Straight bet or Single.
Here is the simplest and most common bet. Without a doubt on a winner at given odds.
Point Spread.
This bet enables you to bet on successful from two selections who've been made equal by allocating appropriate points to the underdog team. The Point Spread is the number of points allocated and is shown with a + sign for the favorite and a - sign for the underdog. The favorite must win by a lot more than the Point Spread so that you can win; otherwise you lose your bet even if the team wins. Inversely, if you bet for the underdog, that team has to lose by significantly less than the Point Spread so you might win. If the favorite wins by the exact Point Spread, then this is a push or perhaps a tie. You get your bet back. To remove a tie result, the oddsmakers sometimes include a half point spread. Since scores use full numbers only, one team has to win outright.
Buy Points.
Also, to buy Key Points. Move the Point Spread favorably at a cost.
The Money line.
This establishes the chances for each team but inversely proportional to what would have been a Point Spread, and is indicated by way of a + for the underdog and a - sign for the favourite. Say team A is favorite and quoted at -180 and B is the underdog at + 120. The bets offered would be 10:18 odds-on for the favorite, and 12:10 for the underdog. For every $180 you bet on A you would win $100 or lose $180, but for every $100 you bet on B you'll win $120 or lose $100.
Total.
A bet for the amount of points scored in the game by both teams combined, including points scored in overtime.
Over/Under.
A bet that the combined amount of points scored by the two teams in the overall game will be Over or Under the total set by the oddsmaker.
Parlay or Accumulator.
A multiple bet. A kind of 'let-it-ride' bet. Making simultaneous selections on two or more games with the intent of pressing the winnings of the initial win on the bet of the following game selected, etc. All the selections made must win that you win the parlay. If a game is a tie, postponed or cancelled, your parlay is automatically reduced by one selection; a double parlay becomes a straight bet, a triple parlay becomes a double. A parlay bet can yield huge dividends if won.
Teaser.
It is just like a parlay, but with the choice to include or subtract points (called 'moving the line') in one or more Spread bets. When betting a teaser additional points are either put into the underdog or subtracted from the favourite. The odds vary according to the number of points the spread is moved and the number of teams combined to create the teaser. As in the parlay, all selections must win for the teaser to win. Teasers itâs likely that usually worse compared to the parlays.
If-wager.
A bet which allows the bettor to make a second wager, around the same amount, pending a win on the initial selection.
Open Wager.
Open wagers permit the bettor to play teasers or parlays creating a selection at differing times and even different days.
Future.
A bet on a future event. At the start of each season, the sportsbooks hand out odds for teams to win a certain championship. The odds change because the game date approaches and generally get shorter, but in the event that you win you get paid at the original odds that you took. This is possibly probably the most profitable bets for those who have considerable knowledge of the activity that you will be betting on including the players, and an excellent sense of judgment.
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Betting on unusual events. Some sportsbooks post odds and take bets on a wide selection of other sports related events and activities. Several others will take bets on almost anything you can think about.
Proposition Bet or Prop Bet.
An offer of bets at odds and conditions chosen by the sportsbook, usually on 'Exotic' bets.