A sports bet is a wager on the outcome of a sporting event or matchup. The system of odds is used to predict the winning team or total score of a game, and the bettor can place wagers on either the over (total points will exceed the predicted amount) or under (total points will fall short of the prediction).

Bettors must understand the basics of betting odds in order to be successful. While this may seem difficult at first glance, learning the lingo can help bettors understand the potential payouts of their bets, how to discover value in a betting line and more.

The most common type of bet is the straight bet, which involves placing a wager on a single game or event. The odds for this type of bet are listed in American format, and a minus (-) sign means the favorite, while a plus (+) sign indicates the underdog.

Payouts for a sports bet are determined by the odds attached to your wager and the amount you wagered. This potential payout will be shown on your betting slip, whether you are placing your bet online or in person.

The odds for a particular game are often adjusted as the action at the sportsbook adjusts. This is called “juice” or vigorish, and it helps to offset the losses of the sportsbook’s house edge. This is especially important when one side of a bet attracts more action than the other, which will lead to a push.