Types of Bets

There are several common types of bets in sports betting:

Moneyline Bet: A bet on which team will win the game outright.

Point Spread Bet: A bet on whether a team will cover the point spread, which is a margin of victory or loss set by the sportsbook.
Over/Under Bet: A bet on whether the combined score of both teams will be over or under a set total.
Parlay Bet: A bet that combines multiple wagers into a single bet. All legs of the parlay must win for the bet to be successful.
Prop Bet: A bet on a specific event or outcome within a game, such as the total number of touchdowns scored or the number of rebounds a player will grab.

Odds and Lines

Odds represent the probability of an event occurring. There are three main types of odds:

American Odds: Odds are expressed as a positive or negative number. A positive number indicates the potential profit on a $100 bet, while a negative number indicates the amount you need to bet to win $100.

Decimal Odds: Odds are expressed as a decimal number. Multiply your stake by the decimal odds to calculate your potential payout.

Fractional Odds: Odds are expressed as a fraction, indicating the potential profit relative to your stake.

Betting Terminology

Favorite: The team or individual expected to win a game or event.
Underdog: The team or individual expected to lose a game or event.
Spread: The number of points by which a favorite is expected to win.
Over: A bet on the total score exceeding the set over/under.
Under: A bet on the total score falling below the set over/under.
Parlay: A bet that combines multiple wagers into a single bet.
Prop Bet: A bet on a specific event or outcome within a game.
Hedge: A bet placed to offset potential losses on another bet.
Arbitrage: A betting strategy that involves taking advantage of discrepancies in odds between different sportsbooks.
By understanding these basic concepts, you can start making informed decisions as a sports bettor.