A sports bet is a wager on the outcome of a sporting event. The goal of sports betting is to win more money than you lose, or at least break even. This is achieved by following a disciplined bankroll management strategy, doing research and seeking the advice of respected and successful sports bettors. In addition, it is essential to read independent/non-partisan reviews of sportsbooks before placing a bet.

There are several different ways to bet on sports, including straight bets and parlays. Straight bets involve placing a bet on one team or player to win a game. Parlays combine multiple bets on a number of events to increase your winning potential. These bets can include totals, point spreads and over/unders.

Point spreads and over/unders in sports are based on the expected margin of victory between two teams. Oddsmakers set the numbers based on their analysis of the players and teams, as well as the historical performance of similar contests. The plus (+) and minus (-) signs on sports odds indicate the amount of money you must bet to win a given amount, with a minus sign meaning the favorite and a plus sign indicating the underdog.

The payout on a sports bet is determined by the odds at the time of your bet and the size of your stake. The profit is the amount of the payout above and beyond your returned stake. Understanding the relationship between odds, implied probabilities and payouts is key to maximizing your profits.