There are plenty of sports fans who watch games and think to themselves, “betting on sports must be easy.” Unfortunately, it’s not. After accounting for the vig, even the most successful tipsters only get less than 60% of their bets correct. And when you combine that with the fact that the majority of bets lose, it’s no wonder why so many people fail to make a profit from betting on sports.
There is a learning curve to betting on sports, especially when it comes to the different types of bets available. This article will cover the basics of sports betting, including how to read odds and the different ways that bets can be placed. It also covers popular terms and the different bet types that are offered by most sportsbooks.
Straight bets are the most basic type of wager and simply involve placing a bet on the winner of a game or event. The odds of a straight bet are determined by the likelihood of a team winning or losing a particular game, with higher odds for the favorites and lower odds for underdogs.
Prop bets are wagers on aspects of a game that don’t show up in the boxscore. They can range from player and team stats to matchups and individual player performances. These bets are usually more profitable than standard wagers, and can provide a fun way to watch sports. However, be careful with these bets as the law of large numbers can quickly wipe out your profits if you place too many of them.