Sports betting involves putting money on an outcome of a sporting event. This can be a thrilling experience, whether you win or lose. However, before you begin betting, it’s important to understand the different types of bets.
There are two main types of bets: spread and money line. These are the most commonly used. They are both based on the pointspread or the odds. The point spread is the margin by which a favorite team must win to cover. Usually, you’ll find odds of 11 to 10 for this type of bet.
Money lines, on the other hand, are based on the total number of points a bookmaker thinks will be scored. You’ll need to bet $100 to get a $100 payout.
The other most popular type of bet is a parlay. In this case, you’ll need to pick the winner of more than one game. A parlay consists of three or more parts that must all be correct. If you win all of these bets, you’ll be awarded the entire amount of your wager.
There are a variety of other types of bets, as well. For example, if you’re interested in betting on a race, you can place an “exacta” bet, which requires you to pick the first two finishers in the right order. Other popular bets are “trifectas,” which require you to pick the first three finishers in the correct order.
Regardless of which type of bet you decide to try, you should always shop around for the best price. Sportsbooks often stack their odds in favor of their customers, so it’s a good idea to visit several to see which sportsbooks offer the best price.