When you are betting on sports, odds are created based on the expected probability of a specific event happening. The better you can predict that actual probability, the more money you will make. This is why it’s important to study the numbers and understand the different types of bets available.

Odds are created for a variety of different things in a game, the most common being the over/under. This bet involves the bookmaker predicting the total number of points scored in a game and then offering the bettor the opportunity to place a bet on whether or not the total will go over or under that amount.

One of the most popular types of bets is a straight bet, which is a single bet that pays off at the standard 1:1 odds (you need to risk $11 to win $100). You can also make parlays, which are multiple bets that pay out a higher amount only if all of the bets in the parlay win. Parlays can consist of as many bets as the sports book will allow.

Another type of bet is a proposition bet, which usually involves a specific statistic in the game and can be anything from how many yards a player will run to how many hits a baseball player will have. Proposition bets are often very difficult to handicap, but it’s possible to find value if you do your research and follow the lines closely. It’s also important to separate yourself from your fandom when placing these bets, as it can influence your decision-making process.