When you bet on sports, you’re essentially taking a risk on something that isn’t guaranteed to happen. This is because sports betting is based on opinions and public perception. That’s why sportsbooks are careful to monitor how bettors react to a given situation and make adjustments accordingly.

To start placing bets online, you must first register with a legal bookmaker. This will require the last four digits of your Social Security Number and a geolocator to prove that you are legally able to place a bet in the state where you live. Once you’ve completed this, you must make a minimum deposit to fund your account and accept any welcome bonuses that may be offered.

Once you’re registered, you can then log in to your account and begin placing bets. The most popular bet type is the point spread, which is a number of points taken away from a favorite and given to an underdog to level the playing field. Favorites are generally considered to be better teams that have superior players, more experience, and improved coaching than their opponents. The underdog, on the other hand, is expected to lose because they are worse, have less talent, and have a poor record of winning games.

When a bet pays out more than you expect it to, you have found value. Remember, the more likely a bet is to win, the lower the payout. This is how the sportsbooks earn their profit.