Betting is the act of staking money on an event or individual with the hope of winning. In order to be successful in betting, you must know the odds and how they work as well as understand how to find value on a bet.
Odds are calculated by comparing the amount you would win to your total risk. This is how bookmakers keep the action fair and ensure everyone can be paid in the long run. Odds are based on probability and can be used for almost any type of wager including a coin toss or head/tails on a game.
Favourite: The team/athlete oddsmakers expect to win a game/match/competition etc. Underdog: The team/athlete oddsmakers think will lose a game/match/competition/etc.
Moneyline: A simple bet that involves a bettor picking one side of the game/competition to win. If that side wins, the bettor will cash a winning ticket.
Parlays: A combination of bets that pay out much more than the sum of their constituent straight bets. Parlays are usually more difficult to hit than single wagers.
Don’t Bet on Everybody’s Favorite Team or League: High profile teams and leagues draw an outsized handle which forces sportsbooks to shade lines toward them. This can create an opportunity to find +EV bets on underdogs and niche markets like WNBA and PGA golf betting.
Tie/Draw bets (also known as “push” bets) are a great way to add some fun and excitement to your wagering experience. They are similar to moneyline bets in that the original amount you risk is returned if either boxer wins via a decision or KO.