When it comes to sports bet, there are many types of wagers you can place. These include moneylines, point spreads and over/unders. These odds are set by the bookmakers to determine the implied probability that a particular bet will win or lose. They are expressed in American, fractional and decimal odds formats. The key to making wise bets is understanding how the odds are calculated and how they affect the probability of winning a specific bet.

Over/unders are a type of bet that is set by the bookmaker on a number for a particular statistic in a game, such as the total score or the combined goal count. The bettor then has to predict whether the actual number will be higher or lower than the bookmaker’s total. Over/unders are most common in baseball and hockey, which are typically lower-scoring sports. In some cases, the total will land exactly on the number that was predicted. This is called a push and both sides will receive their bet back. To avoid this, the bookmaker will sometimes add a half point to the total (for example, Patriots -3.5).

Prop bets are unique to sports betting and offer a chance for bettors to take an active role in predicting the outcome of certain facets of the game. While these bets may not always make you rich, they can be fun and rewarding. Just be sure to keep track of your results and use a betting app that offers line shopping and tracking, as this can help you make more informed decisions.