In sports betting, you can place wagers on different outcomes. You can place “straight bets,” which are individual wagers, and “parlays,” which are multiple bets that involve picking the winner of two races in a certain order. You can also place “futures,” which are wagers on a future event. You can also place a “teaser” bet on basketball and football games, which essentially adjusts the posted pointspread.

In sports betting, you can place bets on favorites and underdogs. Favorites usually have better chances of winning, while underdogs have lower chances of winning. Betting on a favorite means a larger return, but there’s also a higher risk involved. You can also bet on an underdog with even odds.

Point spreads are one of the most popular types of sports bets. Point spreads measure how much a favored team must win by to cover the point spread. Usually, point spread bets pay odds between 11 and 10 percent. This means that if a favorite wins by 11 points, he’ll win $21, whereas a betting underdog wins even if he loses by more than that.

Another popular type of sports betting is prop betting. These bets are based on specific events that are likely to happen. For example, you can bet on a player to score the first touchdown of the game with odds of 2-to-1.