Sports betting is a form of wagering that involves placing bets on various outcomes of a sports event. There are many different ways to bet on a game, from moneyline bets to parlays and more.
The majority of bets are placed online, although there is also some in-person wagering at casinos. Some states have passed laws allowing legalized online betting, and others are still debating whether to implement the new form of betting.
In order to make the most of your sports betting experience, it is important to be familiar with the terms and lingo that are used. Understanding how to read a game line and bet correctly can help you increase your winnings.
Bet Types and Odds
There are several types of bets in sports betting, with the most common being moneyline, spread and parlays. These bets can be grouped together to create a larger payout. They are a great way to make a bigger profit when betting on a favorite team or player.
A sportsbook will settle bets based on official data and statistics that are readily available from the league or another reputable source. They will not entertain any disputes over these numbers, or if a statistic changes after a bet has been placed.
If a sportsbook has a betting line, it will display this line at the top of the page on its website. The line will indicate the points spread, totals and other odds for the bet to be valid. This information is updated continuously throughout the day to reflect the current score and odds.
When the game is completed, all bets are credited and settled. For example, if you bet on the Cleveland Cavaliers to win by three points at +105, you are credited for a $105 bet and your winnings are paid out in full.
Inning/Half Inning Markets
For some sports, like baseball and soccer, bets on the over/under, team totals, and runlines do not become official until the games have a certain number of innings. For example, moneylines are official once a game has reached five innings.
Dead Heat rules apply to these markets. If one team leads after nine innings, then bets on those games are void.
Highest Scoring Period and Team with Highest Scoring Inning Propositions
For some sports, such as soccer and baseball, bets on the highest scoring period of a game are settled by using the 8.5 innings rule. If both teams have the same highest score, then the team with the highest score wins.
If a team scores in the bottom of an inning and the ball is caught, then the bet will lose. The game will be called dead if the bet is a tie, or both teams have a tied score at that point.
There are some betting lines that can be re-settled if the game is called off due to weather conditions or a suspension. These are often called “if bets.” For example, if a basketball game is suspended for a technical foul or a red card, then the bet is re-settled as a winner if the team scores at least two points in the remaining four quarters.