Sports Betting 101

There are several different types of bets available to sports fans, and each can offer a different type of experience. Proposition bets, for example, are wagers on the outcome of specific events, such as the number of goals scored in an association football game, the number of yards a player will run in an American football game, or the number of times a baseball player will hit the ball. Parlays involve combining several bets in one wager, and if all of the bets in the parlay win, the bettor wins. Parlays require at least two bets to be successful, but can include as many as the bookmaker allows.

If you’re a sports fan, you’re probably already familiar with the terms favorite and underdog. Favorites have a higher probability of winning, while underdogs have a lower chance of winning, so betting on the favorite will offer a higher return. On the other hand, betting on the underdog can yield a much higher payoff if the odds are even. If you’re not familiar with these terms, read about them below.

The odds for different outcomes of a single bet are presented in either the European or UK formats. In continental Europe, the European format is used, while in Canada, Australia, and the United States, the odds are in fractional form. Regardless of the format you’re using, remember to have fun while betting. Don’t forget to shop around when you’re placing your first bet. It’s a great way to build up your bankroll.