Betting is done through Sportsbooks (US) or Bookmakers (UK) entities that accept bets. You can bet on the results of several sports, such as for example; Baseball betting, Basketball betting, Football betting, Tennis betting, Hockey betting, Snooker and Soccer betting games.
To place a sport bet, you visit a sportsbook, physical or online. You could also bet on 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 a one who sets the sports betting odds.
It is advisable to state everything you are betting on by making a selection, the type of bet and the amount you're wagering. Your selection will obviously depend on the odds offered, and that means you will want to examine the range of odds available before you decide.
There are many types of bets it is possible to place. Some sportsbooks may offer more betting varieties and combinations than others. Below is a list of the more prevalent types of bets.
Straight bet or Single.
This is actually the simplest and most common bet. You bet on successful at given odds.
Point Spread.
This bet lets you bet on a winner from two selections who have been made equal by allocating appropriate points to the underdog team. THE IDEA Spread is the number of points allocated and is shown with a + sign for the favourite and a - sign for the underdog. The favourite has to 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, in the event that you bet for the underdog, that team has to lose by significantly less than the Point Spread that you should win. If the favourite wins by the precise Point Spread, then it is a push or a tie. You obtain your bet back. To remove a tie result, the oddsmakers sometimes include 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 odds for every team but inversely proportional from what would have been a Point Spread, and is indicated by way of a + for the underdog and a - sign for the favorite. Say Hi88 is favorite and quoted at -180 and B may be the underdog at + 120. The bets offered would be 10:18 odds-on for the favorite, 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 would 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 number of points scored by both teams in the 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 several games with the intent of pressing the winnings of the initial win on the bet of the next game selected, etc. All the selections made must win for you to win the parlay. In case 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 like a parlay, but with the choice to include or subtract points (called 'moving the line') from one or more Spread bets. When betting a teaser additional points are either added to the underdog or subtracted from the favourite. The odds vary in line with the amount of points the spread is moved and the amount 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 than the parlays.
If-wager.
A bet which allows the bettor to create a second wager, up to the same amount, pending a win on the initial selection.
Open Wager.
Open wagers permit the bettor to play teasers or parlays making a selection at different times and also different days.
Future.
A bet on a future event. At the start of each season, the sportsbooks give out odds for teams to win a certain championship. The odds change because the game date approaches and in most cases get shorter, but in the event that you win you obtain paid at the initial odds that you took. That is possibly one of the profitable bets if you have considerable knowledge of the activity you are betting on like the players, and an excellent sense of judgment.
Exotic Bets.
Betting on unusual events. Some sportsbooks post odds and take bets on a wide variety of other sports related events and activities. Several others will need bets on almost 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.