Whether you’re looking to make some money or simply add some spice to your viewing experience, sports betting can be fun. With plenty of different types of bets, there’s something for everyone.

When betting on sports, it’s important to understand the different types of odds. Different odds indicate the likelihood of different outcomes. Knowing how to identify the odds can help you increase your winnings.

Moneyline wagers are the most popular type of bet. These bets are placed on a team to win or lose a game by a certain number of points. Normally, the bookmaker will set a point spread. For example, the New England Patriots are favored by 14 points against the New York Jets. If the Patriots win by 11 or more points, the bettor receives the money back. The bookmaker does this to help keep sides even and ensure that winners get paid.

Parlay wagers are another type of bet. Parlay wagers allow you to combine multiple bets on a single event into one wager. The payout increases if all the bets win. This type of bet is also known as a banker bet.

When betting on sports, it’s also important to know the difference between true chances and implied probabilities. If you’re new to the game, you may not know how to convert odds into probabilities. This can help you to make better wagers and reduce your losses.

The standard unit size for most bets is 1% to 5% of your bankroll. This size is a good starting point for new bettors. It’s also a safe way to keep your bankroll intact during periods of lulls in betting activity.