When it comes to betting on sports, there are plenty of different types of wagers to choose from. From moneylines to spreads, and even prop bets that allow you to have a vested interest in more specific outcomes like how many points a particular player will score, there is something for everyone. However, it’s important to remember that sports betting is a marathon, not a sprint and that you should only risk 1% to 5% of your bankroll per game.
Odds indicate the likelihood that a bet will win or lose, and also show how much you’ll profit from winning wagers. They are calculated using a formula that takes into account the amount you bet, as well as how likely the event is to occur.
Lines can change based on the clientele of sportsbooks, which is why it’s helpful to have access to multiple platforms. This way, you can shop around for the best odds and maximize your profits. For example, if the Cavs are a -7.5 favorite at one sportsbook but the Warriors are a -7 at another, you’ll want to place your bet with the latter.
Each year it seems like there are more and more awards that you can bet on before the season begins, from the NFL MVP to the Cy Young. And thanks to innovative sportsbooks, there’s now more opportunity than ever to bet on these pre-season awards.