Sports betting has become a big part of sports culture, with over 13 billion dollars bet legally in the United States alone in 2019. Although there are many different strategies and systems for making money from sports betting, the basic premise is simple: predict what will happen during a game or event and wager on that prediction. While every bet will contain some amount of risk, the most successful bettors make money by consistently winning more than they lose.
One of the keys to success in sports betting is knowing the terminology and understanding how odds work. A beginner sports bettor may find this information confusing, but once you have a grasp of the basics, it can help you place better bets and increase your chances of winning.
Moneyline — A bet that specifies the winner of a specific game or event, with a price for each win and a minimum price for a loss. Lines are derived from a team or individual’s record, injuries and recent performance against the opposing team. Moneyline bets are popular for football and baseball games, as well as hockey, but they are also available in most sports.
Spread — A bet on an outcome, such as a game total or team win, where the spread is set by the sportsbook. The higher the number, the more likely the underdog is to cover. The lower the number, the more likely the favorite is to win.
Over/Under — A wager on the combined number of points scored in a game. The popular saying in this category is “it’s never over until it’s over.”
Futures — Wagers on the outcome of a specific sporting event, such as a championship or a major tournament. Futures markets are a great way to gain exposure to upcoming events without investing a large sum of money.
Parlay — A bet that combines multiple bets on the same game or team. Parlays are often more profitable than single bets, but they carry more risk than other types of wagers. They are especially lucrative when made on high-profile games and events.
In order to be successful in sports betting, you must develop a strategy and manage your bankroll carefully. It is important to start small and only wager a percentage of your overall bankroll on each bet. This is known as unit size, and it’s vital to the sustainability of your sports betting system. A common unit size is 1% to 5% of your total bankroll, which allows you to diversify your risk and protect your capital against any potential losses. As you grow more confident in your sports betting abilities, you can slowly increase your bet size. Remember, however, that even the best systems experience losses from time to time, so it’s important to keep your emotions in check and learn from your mistakes.
