Betting is performed through Sportsbooks (US) or Bookmakers (UK) entities that accept bets. It is possible to bet on the results of several sports, such as; Baseball betting, Basketball betting, Football betting, Tennis betting, Hockey betting, Snooker and Soccer betting games.
To place an activity bet, you go to a sportsbook, physical or online. You might 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 sports betting odds.
It is advisable to state what you are betting on by making a selection, the type of bet and the total amount you're wagering. Your selection will obviously be determined by the odds offered, which means you will want to examine the range of odds available before you make a decision.
There are many forms of bets it is possible to 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 can be the simplest & most common bet. You bet on a winner at given odds.
Point Spread.
This bet enables you to bet on successful 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 favourite must win by a lot more than the Point Spread that you can win; otherwise you lose your bet even though the team wins. Inversely, in the event that you bet for the underdog, that team has to lose by significantly less than the Point Spread so that you can win. If the favorite wins by the exact Point Spread, then it is a push or perhaps a tie. You obtain your bet back. To eliminate 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 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 will be 10:18 odds-on for the favorite, and 12:10 for the underdog. For every $180 you bet on A you'll win $100 or lose $180, but also 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 Beneath the total set by the oddsmaker.
Parlay or Accumulator.
A multiple bet. Some sort of 'let-it-ride' bet. Making simultaneous selections on two or more games with the intent of pressing the winnings of the initial win on the bet of the following game selected, and so on. All the selections made must win that you should 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 like a parlay, but with the option to include or subtract points (called 'moving the line') from one or more Spread bets. When betting a teaser additional points are either put into the underdog or subtracted from the favourite. Hi88 vary according to the number of points the spread is moved and the number of teams combined to create the teaser. As in the parlay, all selections must win for the teaser to win. Teasers odds are usually worse compared to the parlays.
If-wager.
A bet that allows the bettor to produce a second wager, around an equal amount, pending a win on the initial selection.
Open Wager.
Open wagers permit the bettor to play teasers or parlays making a selection at different times and even different days.
Future.
A bet on a future event. In the beginning of each season, the sportsbooks give out odds for teams to win a certain championship. The odds change because the game date approaches and in most cases get shorter, but if you win you obtain paid at the original odds that you took. That is possibly the most profitable bets assuming you have considerable knowledge of the activity that you will be betting on including the players, and a good sense of judgment.
Exotic Bets.
Betting on unusual events. Some sportsbooks post odds and take bets on a wide variety of other sports related events and activities. Several others will take bets on just about 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.