How does sports betting work?
Sports betting is putting money on the result of a game at a price a bookmaker sets. If you are right the book pays you at that price. If you are wrong it keeps your stake. The price is built so the book earns a little whichever way the game goes.
The three main bets
Nearly every game is offered three ways.
- The moneyline. A bet on who wins. See what moneyline means.
- The point spread. A bet on the margin. The favorite has to win by more than the number. See what the spread means.
- The total. A bet on the combined score, over or under a number. See what over/under means.
Everything else on the board is built from these: parlays tie several bets together, props are bets on one player or one event inside the game, futures are bets on a season, and live bets are made after kickoff.
Reading the price
Every bet has a price next to it. A minus number is what you risk to win $100, and a plus number is what you win when you risk $100. So -200 means you risk $200 to win $100, and the team has to win two times in three for you to break even. The standard price on a spread or a total is -110: risk $110 to win $100. There is more on this in how betting odds work.
Getting down and getting paid
You bet in one of two ways. Post-up means you deposit first and bet from the balance, which is how a sportsbook counter, site or app works. Credit means a bookie lets you bet up to a figure and you settle at the end of the week.
At a sportsbook your price is fixed when the bet is accepted, and if the line moves afterwards, your ticket does not (the book lives with that rule too). If you win, you get your stake back plus the winnings. If you lose, the stake is gone. If the result lands exactly on the number, that is a push, and the stake comes back.
Where you are allowed to bet, and with whom, depends on where you live. Check that before you deposit anywhere.
Starting out
I'd set aside a bankroll you can afford to lose, and a loss limit for the day, before you look at a single game. Keep any one bet small against it. Most professionals stay under 5 percent, and 1 or 2 is more comfortable. And I'd start with straight bets on one game, because they carry the smallest cut and you learn more from them.
Betting is simple to do and hard to do well. The price is the reason.
Related questions
How do betting odds work?
Betting odds are a price. They tell you what a bet pays and, read the other way, how often it has to win. Odds of -200 mean you risk $200 to win $100. Odds of +150 mean you risk $100 to win $150.
What is a sportsbook?
A sportsbook is a business that takes bets on sports. It posts the prices, takes the wagers, pays the winners and keeps a cut that is built into the odds. It can be a counter in a casino, a website or an app.
What does the spread mean in betting?
The spread is a head start the book gives the underdog to make the game an even bet. A team at -7 has to win by more than 7 for a bet on it to win. A team at +7 wins the bet if it wins the game or loses by fewer than 7.