Sports betting is growing in popularity, and it’s not only for die-hard fans. Now that sports gambling is legal in more states, many people are putting money down on their favorite teams. In fact, according to a recent study, more than half of all college-age students have placed a bet in the past year. But with all this activity comes a lot of confusion about how to make smart sports bets.
Sportsbooks are businesses, and profit is one of their main goals. That’s why they set their lines based on the probability of certain outcomes. They also employ a variety of strategies to limit their exposure to large losses from outliers, such as reducing the number of props offered on games with high-risk propositions (over/unders).
The odds of a team winning or losing are usually determined by the point spread. The point spread is a number that handicaps one team and favors another when two teams are evenly matched. The favored team must win by more than the point spread for bettors to win their bets. In addition to point spreads, sportsbooks offer a wide range of other wagers, including moneylines and totals.
Moneyline bets are the simplest wagers to place. These are simply bets on whether a team will win or lose. They do not involve any spreads or handicaps and reflect the implied probability of a result, with lower-risk bets (favorites) paying out smaller returns than higher-risk bets (underdogs).
Over/Unders are wagers on the total number of points scored in a game. These bets are based on the over/under lines that the sportsbooks set for each game. For example, a Los Angeles Rams-Seattle Seahawks matchup may have an over/under of 42.5 points. If you think there will be a lot of scoring in the game, you would bet on the Over.
Player-specific props are wagers that relate to an individual player’s performance. They can be as simple as how many total strikeouts a pitcher will have in a game, or as complex as how many yards a running back will get on a particular play. These bets can be more lucrative than standard bets, as they often have a lower risk/reward ratio.
Props are available at most sportsbooks, but their prices can vary wildly from book to book. It’s important to shop around and find the best price on your bets, as even a small variance in the line can have a significant impact on your bottom line.
If you’re serious about making money from sports betting, it’s a good idea to start small and work your way up. Become an expert on a small NCAA conference and tap into the media that covers those teams, building a database of every statistic you can find. This will give you a leg up on the competition and help you identify overlooked value. As you gain experience, you can branch out to more competitive markets and bigger leagues. However, be warned that it takes a lot of time and effort to turn your knowledge into consistent profits. Those who are looking for a quick and easy path to riches will be disappointed.