The odds on sports events vary widely. These are set by the sportsbooks based on the probability of an event occurring. Events with a high probability do not pay as much as those with low probability, but they are also less likely to lose. In contrast, higher risk events pay out more, but they also involve more risk. Most betting options feature two sides, while others offer multiple options for wagering. In addition to the usual outcomes of a game, there are also several other types of sports betting.
In-play sports betting
In-play sports betting allows bookmakers to offer more market options during live sporting events. Gamblers can place bets on various in-game events throughout a match. For example, in-play betting on football matches allows gamblers to wager on halftime scores, the number of goals scored in the first half, and even on the goal scorers. The number of in-play markets is highly variable and varies greatly from bookmaker to bookmaker.
Moneyline bets
If you’re a sports bettor, you’re probably familiar with moneyline bets. These bets don’t involve a point spread and are the same as normal bets, with the exception that you choose the winning side regardless of the pointspread. A soccer team favored by three points will be -350 on the moneyline, while a boxer or MMA fighter favored by three points will typically have a better payout than a 7-point spread.
Futures bets
Futures bets are a fun and lucrative way to bet on future events. These bets are placed on events that will take place in the future, usually at a distant time. For example, you could bet on the winner of tonight’s game, but you wouldn’t place a futures bet on who will win the Super Bowl the following year. Futures bets are also known as prop bets or proposition bets. These bets are made by sportsbooks to make special bets that may not be possible in the present.
Parlays
When it comes to placing bets on sports events, you’ve probably heard about parlays and accumulators. These bets are similar in that all of the wagers in the group need to win together. A parlay is also called a “combo bet,” as it combines several different bets. However, unlike accumulators, parlays are not risky. Generally speaking, you should only place a parlay if you know that you can’t lose money on it.
Legalization of sports betting
In 2017, the Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA), which made sports betting illegal in most states. The decision gave states the power to legalize sports betting. Before the ruling, only West Virginia legalized sports betting. As of early 2020, 17 states have legalized sports betting, with many more considering legislation. If sports betting is legalized, it could help community sports programs. It will help increase tax revenue.