Sports bet is putting money behind an outcome of your choice in order to receive a payout if that outcome wins. It can be a simple bet on the winner of a game, or multiple outcomes combined into one wager called a parlay. The profit potential of a bet depends on the size of your investment and the odds available at the time you place your bet.

Odds specify the implied probability of an outcome occurring and can be displayed in American, British (fractional) or European decimal formats. The most important thing to understand about odds is that a plus (+) sign means the underdog and a minus (-) sign means the favorite.

When you bet a total, you are simply predicting whether the two involved sides will combine for more or less points than the number set by the bookmakers. If the total is higher than the over/under, you win. If the total is lower, you lose. The total can be a whole game, or just a specific period such as a half in American football and basketball, fewer innings in baseball or a period in hockey.

Some bettors prefer to create value by placing bets that have a higher probability of winning than the odds indicate, but this requires significant research and patience. Other bettors focus on money management, and try to balance the amount of risk they are taking with their desired profit potential. This often involves determining a money management system early in their betting career, and may include things like the amount of bets placed per game and the percentage of their bankroll that is allocated to each individual wager.