Betting is performed through Mig8 (US) or Bookmakers (UK) entities that accept bets. You can bet on the outcome of several sports, such as for example; Baseball betting, Basketball betting, Football betting, Tennis betting, Hockey betting, Snooker and Soccer betting games.
To place a sport bet, you go to a sportsbook, physical or online. You could also bet over the phone with many sportsbooks. Remember that a sports book or sportsbook is not exactly like an oddsmaker. The sportsbook simply accepts sports bets. An oddsmaker is a person who sets the sports betting odds.
You have to state everything you are betting on by creating a selection, the sort of bet and the amount you are wagering. Your selection will obviously depend on the odds offered, and that means you would want to examine the range of odds available before you decide.
There are many types of bets it is possible to place. Some sportsbooks may offer more betting varieties and combinations than others. Below is really a list of the more prevalent types of bets.
Straight bet or Single.
This is actually the simplest and most common bet. You bet on successful at given odds.
Point Spread.
This bet enables you to bet on a winner from two selections who've been made equal by allocating appropriate points to the underdog team. THE IDEA 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 that you win; otherwise you lose your bet even though the team wins. Inversely, if you bet for the underdog, that team must lose by less than the Point Spread that you win. If the favorite wins by the exact Point Spread, then it is a push or perhaps a tie. You get your bet back. To get rid of a tie result, the oddsmakers sometimes include a half point spread. Since scores use full numbers only, one team must win outright.
Buy Points.
Also, to buy TIPS. Move the Point Spread favorably at a price.
The Money line.
This establishes the chances for every team but inversely proportional from what is a Point Spread, and is indicated by a + for the underdog and a - sign for the favourite. Say team A is favorite and quoted at -180 and B may be the underdog at + 120. The bets offered will be 10:18 odds-on for the favorite, and 12:10 for the underdog. For each and every $180 you bet on A you would win $100 or lose $180, but for every $100 you bet on B you'll win $120 or lose $100.
Total.
A bet for the number of points scored in the overall game by both teams combined, including points scored in overtime.
Over/Under.
A bet that the combined amount of points scored by both teams in the overall game will be Over or Under the total set by the oddsmaker.
Parlay or Accumulator.
A multiple bet. Some sort of 'let-it-ride' bet. Making simultaneous selections on several games with the intent of pressing the winnings of the first win on the bet of the next game selected, etc. All the selections made must win for you to win the parlay. In case 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 just like a parlay, but with the option to include or subtract points (called 'moving the line') in one or even 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 which allows the bettor to generate a second wager, around the same amount, pending a win on the first selection.
Open Wager.
Open wagers permit the bettor to play teasers or parlays making a selection at different times and also different days.
Future.
A bet on another event. At the start of every season, the sportsbooks hand out odds for teams to win a certain championship. The chances change as the game date approaches and in most cases get shorter, but in the event that you win you obtain paid at the original odds that you took. This is possibly one of the profitable bets should you have considerable knowledge of the sport you are betting on like the players, and an excellent sense of judgment.
Exotic Bets.
Betting on unusual events. Some sportsbooks post odds and take bets on a wide selection of other sports related events and activities. Several others will take bets on almost anything you can think about.
Proposition Bet or Prop Bet.
An offer of bets at odds and conditions chosen by the sportsbook, usually on 'Exotic' bets.