Sportsbetting 101

Whether you’re betting on your favorite team or just trying to add some extra excitement to a game, sportsbetting can be an exciting way to spend money. But just like any other form of gambling, it’s important to be aware of the risks involved. The first step is understanding some of the terminology and basics.

One of the more common terms in sportsbetting is “favorite.” A favored team or outcome will have a minus sign (-) in front of their odds. An underdog will have a plus sign (+) in front of their odds. The oddsmaker’s goal is to set lines that garner balanced action on both sides. This is called covering the spread.

Moneyline bets are another popular type of wager in sports betting. These bets are simple and straightforward, but they are harder to win than standard point spread or total bets. The reason for this is that a percentage of the action is taken by the sportsbook, which is built into the moneyline odds. This fee is also known as vig.

Parlays are a fun and easy way to place multiple bets on a game with a higher payout if all the bets hit. Parlays are typically harder to hit than single bets, but they can pay off big if you’re able to predict the correct side or score. Teasers are a variation of the parlay that offers lower winnings but a greater chance of hitting.