With legal sports betting now in many states, millions of fans are poised to try their luck. But the sport of wagering on sports is more complex than simply putting a number on a game outcome. Sports bettors must also consider things like weather forecasts, player injuries and past performance against an opponent. Moreover, they must also understand the different types of bets available and their associated risks.
The simplest type of wager in sports is a moneyline bet. This is based on the implied probability that one team will win against another, with low-risk moneylines (favorites) offering smaller returns and higher-risk ones (underdogs) paying out more. Moneyline bets can also be combined with spreads for even more variety.
Another popular bet is a point spread, which uses a positive or negative value to adjust the odds on either side of a particular bet. A favorite will be listed as a negative number while an underdog will be positive, and the bets are paid out according to how close to the line they fall. Point spreads are a great way to add more depth to a sports betting experience, and they can help make a game much more exciting.
For those looking to place a more complicated bet, sportsbooks also offer futures bets. These bets are on events that will take place in the future, such as a certain team winning the World Series or a golfer winning next year’s Masters Tournament. Futures bets typically offer higher odds than straight bets, but they are also more risky.
Finally, don’t be afraid to use multiple sportsbooks to compare prices and rules. Some sites may be more lenient with credit card deposits and withdrawals, while others might have lower limits on some bets. It’s also a good idea to check out each sportsbook’s customer service department to see how helpful they are.
It goes without saying that the more research you do, the better your chances of success. However, some people tend to overdo it with research and become too focused on the technicalities of a particular sport, making it difficult for them to focus on unique circumstances that can affect the outcome of a game. This is a common mistake that leads to bad decisions and irrational gambling behavior.