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Sports Betting and Sportsbooks

When you bet on sporting events you try to beat the oddsmakers and win money. Many involved in sports betting bet on their favorite event which makes it even more exciting.

In the U.S. bets are made through a sportsbook (bookmakers in the UK). You have lots of choices. You can choose from all kinds of sporting events including basketball, football, baseball, tennis, hockey, billiards and soccer.

To make a bet you can go to a sportsbook location make your bet online or call a sportsbook to make your bet. You should study the range of odds available then select the type of bet you want to make and the amount. There are many different types of bets you can place, such as:

Straight or Single - A simple and common bet. You bet on a winner at the given odds.

Point Spread - You bet on a winning team where the underdog is given more points to equal out the team. If you bet on the favored team they must win by more than the point spread for you to win. If you bet for the underdog, they must lose by less than the point spread for you to win. If the favorite team wins by exactly the point spread than it's a tie and you get your money back. Sometimes half points are used to eliminate ties.

Buy Points - Changing the point spread to your advantage for a price.

The Moneyline - This sets odds for each team but with the inverse of a point spread with the favorite given a positive number and the underdog given a negative number.

Total - Betting on the total combined points scored in a game.

Over/Under - Betting that the total number of points scored in a game is more or less than those set by the oddsmaker.

Parlay - Betting on two or more games and letting the winnings on the first win ride on the next game. All you selections must win to win the parlay. If there is a cancelled, postponed or tied game your parlay is reduced by one selection. Winnings can be quite large.

Teaser - Similar to parlay with the option of adding or removing points from one or more bets. Points are either added to the underdog or subtracted from the favorite. Odds vary according to the change of the spread of points. All selections must win to win a teaser bet. Odds are usually not as good at parlays.

If-wager - A second wager equal to the amount of the first wager if there is a win on the first selection.

Open Wager - When bettors are allowed to play teasers or parlays making selections at different times and / or days.

Future - Betting on an event farther in the future like a championship at the end of a season. Even though odds change as the event approaches, if you win you are paid at the odds that you were given when you first made the bet. Lots of money can be made with this type of event if you are very knowledgeable about the sport.

Exotic Bets - Bets taken on other strange events. Things like elections and just about anything under the sun.

Proposition Bet or Prop Bet - Betting at odds and conditions dictated by the sportsbook. This usually occurs with exotic wagers.