The main object of sportsbetting is to beat
the 'Oddsmakers' or the 'Odds Compilers' and
win some money. Additionally, placing a bet
on your favorite sport event makes the game exciting
and more enjoyable.
Betting is done through Sportsbooks (US) or Bookmakers (UK)
entities that accept bets. You can bet on the outcome of several
sporting events, such as; Baseball, Basketball,
Football, Tennis, Hockey, Snooker
and Soccergames.
To place a sportsbet, you go to a sportsbook,
physical or online. You could also bet over the phone with
many sportsbooks. Note that a sports book or sportsbook is
not the same as an oddsmaker. The sportsbook simply accepts
sports bets. An oddsmaker is a person who sets the betting
odds.
You need to state what you are betting on by making a selection,
the type of bet and the amount you are wagering. Your selection
will obviously depend on the odds offered, so you will want
to examine the range of odds available before you make a decision.
There are many types of bets you can place. Some sportsbooks
may offer more betting varieties and combinations than others.
Below is a list of the more common types of bets.
Straight bet or Single. This is the simplest and
most common bet. You bet on a winner at given odds.
Point Spread. This bet lets you bet on a winner
from two selections who have been made equal by allocating
appropriate points to the underdog team. The Point Spread
is the number of points allocated and is shown with a +
sign for the favorite and a - sign for the underdog. The
favorite has to win by more than the Point Spread for you
to win, otherwise you lose your bet even if the team wins.
Inversely, if you bet for the underdog, that team has to
lose by less than the Point Spread for you to win. If the
favorite wins by the exact Point Spread, then it is a push
or a tie. You get your bet back. To eliminate a tie result,
the oddsmakers sometimes include a half point spread. Since
scores use full numbers only, one team has to win outright.
Buy Points. Also, to buy Key Points. Move the Point
Spread favorably at a price.
The Moneyline. This establishes the odds for each
team but inversely proportional to what would have been
a Point Spread, and is indicated by a + for the underdog
and a - sign for the favorite. Say team A is favorite and
quoted at -180 and B is the underdog at + 120. The bets
offered would be 10:18 odds-on for the favorite, and 12:10
for the underdog. For every $180 you bet on A you would
win $100 or lose $180, but for every $100 you bet on B you
would win $120 or lose $100.
Total. A bet for the number of points scored in
the game by both teams combined, including points scored
in overtime.
Over/Under. A bet that the combined number of points
scored by the two teams in the game will be Over or Under
the total set by the oddsmaker.
Parlay or Accumulator. A multiple bet. A kind of
'let-it-ride' bet. Making simultaneous selections on two
or more games with the intent of pressing the winnings of
the first win on the bet of the following game selected,
and so on. All the selections made must win for you to win
the parlay. If a game is a tie, postponed or cancelled,
your parlay is automatically reduced by one selection; a
double parlay becomes a straight bet, a triple parlay becomes
a double. A parlay bet can yield huge dividends if won.
Teaser. It is like a parlay, but with the option
to add or subtract points (called 'moving the line') from
one or more Spread bets. When betting a teaser additional
points are either added to the underdog or subtracted from
the favorite. The odds vary according to the number of points
the spread is moved and the number of teams combined to
form the teaser. As in the parlay, all selections must win
for the teaser to win. Teasers odds are usually worse than
the parlays.
If-wager. A bet that allows the bettor to make
a second wager, up to an equal amount, pending a win on
the first selection.
Open Wager. Open wagers allow the bettor to play
teasers or parlays making a selection at different times
and even different days.
Future. A bet on a future event. At the start of
each season, the sportsbooks give out odds for teams to
win a certain championship. The odds change as the game
date approaches and in most cases get shorter, but if you
win you get paid at the original odds that you took. This
is possibly one of the most profitable bets if you have
considerable knowledge of the sport that you are betting
on including the players, and a good sense of judgement.
Exotic Bets. Betting on unusual events. Some sportsbooks
post odds and take bets on a wide variety of other sports
related events and activities. A few others will take bets
on just about anything you can think of.
Proposition Bet or Prop Bet. An offer of bets at
odds and conditions chosen by the sportsbook, usually on
'Exotic' bets.
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