Betting is done through Sportsbooks (US) or Bookmakers (UK) entities that accept bets. You can bet on the results of several sports, 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 is not the same as an oddsmaker. The sportsbook simply accepts sports bets. An oddsmaker is a one who sets the sports betting odds.
It is advisable to state what you are betting on by creating a selection, the type of bet and the total amount you're wagering. Your selection will obviously depend on the odds offered, so you would want to examine the range of odds available before you decide.
There are many forms of bets you can place. Some sportsbooks may offer more betting varieties and combinations than others. Below is really a list of the more prevalent types of bets.
Straight bet or Single.
This is actually the simplest and most common bet. Without a doubt on successful at given odds.
Point Spread.
This bet lets you bet on a winner from two selections who've been made equal by allocating appropriate points to the underdog team. THE IDEA Spread is the amount of points allocated and is shown with a + sign for the favorite and a - sign for the underdog. The favourite has to win by a lot more than the Point Spread that you should win; otherwise you lose your bet even if the team wins. Inversely, in the event that you bet for the underdog, that team must lose by significantly less than the Point Spread that you can win. If the favorite wins by the precise Point Spread, then this is a push or a tie. You obtain your bet back. To remove a tie result, the oddsmakers sometimes add a half point spread. Since scores use full numbers only, one team must win outright.
Buy Points.
Also, to buy TIPS. Move the Point Spread favorably at a price.
The Money line.
This establishes the chances for each team but inversely proportional from what would have been a Point Spread, and is indicated by 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 favourite, and 12:10 for the underdog. For each $180 you bet on A you would win $100 or lose $180, but also for every $100 without a doubt on B you'll win $120 or lose $100.
Total.
A bet for the number of points scored in the overall 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 undoubtedly be Over or Under the total set by the oddsmaker.
Parlay or Accumulator.
A multiple bet. Some sort of 'let-it-ride' bet. Making simultaneous selections on two or more games with the intent of pressing the winnings of the first win on the bet of the next game selected, and so on. All the selections made must win so you might win the parlay. If a game is really 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 option to add or subtract points (called 'moving the line') in one or even more Spread bets. When betting a teaser additional points are either added to the underdog or subtracted from the favorite. The odds vary based on the amount of points the spread is moved and the number of teams combined to form the teaser. As in the parlay, all selections must win for the teaser to win. Teasers odds are usually worse compared to the parlays.
If-wager.
A bet that allows the bettor to make a second wager, up to an equal amount, pending a win on the first selection.
Open Wager.
Open wagers allow the bettor to play teasers or parlays creating a selection at differing times and also different days.
Future.
A bet on a future event. In the beginning of each season, the sportsbooks hand out odds for teams to win a particular championship. The chances change as the game date approaches and generally get shorter, but in the event that you win you get paid at the initial odds that you took. That is possibly one of the most profitable bets for those who have considerable knowledge of the sport that you are betting on including the players, and an excellent sense of judgment.
Exotic Bets.
Betting on SV66 media . Some sportsbooks post odds and take bets on a wide selection of other sports related events and activities. A few others will take bets on just about anything you can think of.
Proposition Bet or Prop Bet.
An offer of bets at odds and conditions chosen by the sportsbook, usually on 'Exotic' bets.