As the anti-gambling stigma fades from popular culture, legal sports betting is now available in many states. This has created a new world for bettors who want to add an additional dimension of risk and reward to their sporting events. There are a wide variety of bet types to choose from, including moneylines and spreads as well as props.

A sportsbook sets odds for each team that is playing, and those odds are displayed as either a plus (+) or a minus (-). A plus sign indicates that the team is the underdog and has to win by more points than the number shown, while a minus sign indicates that the team is the favorite. When a team covers the spread, it results in a profit for bettors who placed that wager.

In addition to individual team odds, sportsbooks also offer over/under totals for teams and games. These are determined by predicting the total amount of points scored in a game and asking bettors to either take the over (the sum will exceed the predicted amount) or under (the sum will fall short of the predicted amount).

The payouts for these bets vary from sportsbook to sportsbook, but it is important to remember that the sportsbooks must pay out a certain percentage of winning bets in order to make their profits. This is known as the juice, and it is a necessary evil that sportsbooks must work into their pricing in order to make money. If you can understand how this works, you will be able to find value in the odds that sportsbooks display.