Sports Betting 101

sports betting

In the world of sports betting, there are countless types of bets. There are favorite and underdog bets, Tie, Under, Vigorish, and Moneyline bets. Then, there are point spreads, and other exotic wagers. Let’s take a look at some of these types of bets.

Favorite and underdog

When it comes to betting on sports, you have to understand the difference between a favorite and an underdog. A favorite is considered to be the better team in a game. These teams usually have better players, more experience, better coaching, and a better track record. As a result, they tend to cash at higher odds than the underdog. On the other hand, the underdog has a poorer record, less experience, or inferior coaching.

Moneyline bets

Moneyline bets in sports betting involve betting a team’s actual win value rather than the point spread. This strategy is especially effective in sports with low scoring margins, such as tennis, boxing, and racing. However, you should be aware of the risks involved and stick to sports you know well.

Prop bets

If you’re looking for more exciting wagers in sports betting, consider placing prop bets. Proposition bets are wagers placed on a specific event or outcome, and they have grown in popularity over the years. While many people don’t understand how these bets work, they can provide savvy bettors with a unique opportunity.

States that have legalized sports betting

The US Supreme Court struck down the federal ban on sports betting last year, and nearly two-thirds of the states have now legalized sports betting. These legal bets can be placed via mobile apps and in-person sportsbooks. Before the Supreme Court decision, interest in sports betting had already risen in the US. Currently, Maine and Kansas allow sports betting, and Massachusetts is just a signature away from legalizing it. Two more measures are slated to be on the November ballot.