A form of gambling on sporting events, sportsbetting involves predicting the outcome of a particular match and placing a wager on it. The odds of a team winning are calculated using a probability calculation known as the law of large numbers, and a person who places a bet can win money if they make a correct prediction. The betting market is driven by a number of different factors, including the likelihood that a team will beat another and the total amount of money wagered on both sides of a bet. A company that offers sports betting is called a bookmaker, bookie, or sportsbook and a customer who places bets is known as a bettor.
The most common type of sports bet is a straight bet, which aims to predict the winner of a game. This bet pays out if the chosen team wins or loses, but there are many other bet types that can be placed. A bettor can also place spread bets, where they are betting on the underdog team. These bets are usually listed as a minus sign next to the favored team, while the underdog is represented by a plus sign.
A bettor can also place Over/Under bets, which are wagers based on the total score between two teams. These bets can be made either on the full game or the first half of a match. A bettor who takes the Over bet wants the combined scores to be higher than the proposed total, while someone who bets the Under expects the overall score to be lower. A bettor can win this bet type by predicting the exact score of a game, but most sportsbooks add a half point to the total in order to eliminate pushes.