The whole strategy behind sports betting is to beat the `Oddsmakers` or the `Odds Compilers` and win some money than what you put . Of course placing a bet on your favorite sport event makes the game exciting and more enjoyable.
Betting is done through online sportsbooks or online bookmakers entities that accept bets. You can bet on the outcome of several sporting events, such as; Baseball, Basketball, Football, Tennis, Hockey, Horse Racing and Soccer.
To place a sports bet, you go to a sportsbook - physicaly or online. Many sportsbooks also allow betting over the phone. The sportsbook is simply the place that accepts sports bets. An oddsmaker is the person who sets the betting lines.
When online bettng you will need to choose the type of bet you are making, and the amount you are wagering on. Your selection will depend on the odds offered, so examine the range of odds available before you make a decision.
There are many types of bets you can place.
Here is a list of the most common bets:
Straight Bet or Single Bet
This is the simplest and most common bet. You JUST bet on a winner at given odds.
Buy Points
Also, to buy Key Points. In this type of bet you move the Point Spread favorably at a price.
Point Spread
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 in order for you to win . If you bet on the underdog, that team has to lose by less than the Point Spread in order for you to win. If the favorite wins by the exact Point Spread, then it is a push or a tie, adn you will be refunded.
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.
Money Line
Say team A is favorite and quoted at -170 and B is the underdog at + 140. The bets offered would be 10:17 odds-on for the favorite, and 14:10 for the underdog.
Total
A bet for the number of points scored in the game by both teams combined. This also include overtime points. In this type of bet you don`t bet on who will win the game.
Parlay or Accumulator
A multiple bet. In this type of online bet you make 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 in order for you to win the parlay. If a game is a tie, postponed or cancelled, your parlay is automatically reduced by one selection.
Teaser
This bet 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. . As in the parlay, all selections must win for the teaser to win.
If-wager
A bet that allows the online bettor to make a second bet , up to an equal amount, pending a win on the first selection.
Future
A bet on an event that will occur in the future. At the start of each season, the online 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 first took. This can be one of the most profitable bets if you have considerable knowledge of the sport that you are betting on.
Exotic Bets
Betting on unusual events. Some online sportsbooks post odds and take bets on a wide variety of other sports related events.
