When you bet sports, you’re placing a wager on a specific outcome of a fixture. You can place moneyline, spread or over/under bets. The latter is especially popular because it allows you to bet on total goals scored. The payout is based on the odds at the time of bet placement, not how much they may have changed later on.

The most basic type of bet is the moneyline, which involves picking a winner. Moneyline bets are based on the implied probability of a team beating another, with lower-risk moneylines paying smaller returns and higher-risk ones paying larger. They are particularly useful for games that appear to be too close to call and are often referred to as pick’ems.

Profit potential is an important consideration for bettors, and knowing how to calculate it can help you whittle down the available wagers. It’s also helpful for evaluating the risk-to-reward ratio of a particular bet. For example, betting on Alvarez offers greater profits than Golovkin because the underdog’s expected win probability is lower.

Sports betting is a huge industry, and there are many different ways to place bets. Some bettors are professional gamblers who make a living from betting on sporting events. Others bet as a form of recreation, like fans or casual players. Regardless of the level of experience, there are some key points to remember. First, bet low amounts to begin with and don’t be discouraged if you lose some bets. It’s also best to bet on sports you have previous knowledge of. This way, you’ll have a better understanding of the betting markets and can make more informed bets.