Sports betting is the practice of placing a wager on the outcome of a game or event. It can be a profitable enterprise, but it requires careful study and research. It is not a way to get rich quick, and even the best players do not win every bet they place (though some do). Those who do make money betting on sports often follow a specific strategy that includes researching the sport in which they’re placing bets, reading news related to that sport, and shopping around with different bookmakers for odds.
Most sports bettors are fans to begin with, and they’re looking for a way to use their knowledge of a team or a player to earn a little extra cash. In addition to the traditional straight bet, sports bettors can also place bets on games by participating in pools or fantasy leagues. Pools involve bettors selecting teams before a competition begins, and the person with the most correct selections wins. Fantasy leagues are similar, but they involve selecting actual athletes for a virtual team before a competition starts.
The most common type of sports bet is the point spread, which involves predicting how many points the underdog team must win by to cover the margin of victory set by the favored team. Bettors can choose to take the point spread (betting on the underdog) or give it (betting on the favorite). If the favored team wins by exactly the number of points predicted, the bet is considered a push and most books will refund the bets placed on it.