If you are betting on a game, you will be presented with a selection of teams and their point spreads. Point spreads are calculated by a sportsbook based on the oddsmakers’ best guess of how much separation there is between two teams. They can be as low as half a point or as high as 50 points. You can bet on a team that you think will win, or you can take a long shot and bet against it.

The first type of bet is the parlay, which involves placing a wager on several outcomes. In a parlay, you place a bet on two or more teams or outcomes, with a higher payout. You may place a parlay for a number of events, but you must place at least two to win. You may place as many parlays as the bookmaker allows.

Another popular form of sports gambling is fantasy and pool betting. These are usually organized among friends or coworkers. However, Internet-based companies have also started to run large-scale versions of these. Pools vary in their rules, but they usually involve picking winners for a particular tournament or week. Some pools are based on lotteries, while others involve selecting actual athletes.

If you’re looking for a long-term bet, you may want to consider a futures bet. You can place a bet on a future event, such as a championship. You can also place a futures bet on a specific game. For example, you can make a wager on the NFL Super Bowl before the regular season begins. In this case, the payout will be smaller as the season progresses, so winning bets won’t be paid out until the Super Bowl itself in January or February.