Betting 101
Before placing your first bet, you need to understand the core concepts that govern sports wagering. These fundamentals apply across every sport and every sportsbook.
The Moneyline
The simplest bet in sports, you pick who wins. If the Lakers are -200 to beat the Knicks, you bet $200 to win $100. If you take the Knicks at +170, a $100 bet returns $170. No spreads, no complications, just pick the winner.
The Point Spread
The spread creates equal action on both sides by handicapping the favorite. If the Chiefs are -7 against the Raiders, Kansas City must win by more than 7 for spread bettors to cash. The Raiders at +7 win the bet as long as they lose by fewer than 7, or win outright.
The Over/Under (Total)
The sportsbook sets a projected total for points scored in a game. You bet whether the actual total will go over or under that number. A total of 48.5 in an NFL game means you are betting on whether the two teams combined will score more or fewer than 48.5 points.
The Juice (Vig)
The vig is how sportsbooks make money. Instead of even +100/-100 odds, most bets are priced at -110 on both sides. You pay $110 to win $100. That extra $10 is the bookmaker's margin. This is why simply winning 50% of bets is not profitable, you need to win roughly 52.4% just to break even at -110.
Parlays
A parlay combines multiple bets into one ticket. All legs must win for the parlay to pay out, but the odds multiply with each leg. A 3-team parlay that pays 6/1 sounds attractive, but each individual bet must win. Parlays are high-risk and should make up a small portion of your action.
The Key Number in Betting
Your break-even rate at standard -110 juice is 52.4%. Professional bettors win at 55-58% long-term. Anyone claiming consistent 65%+ win rates is either lying or working with too small a sample. Focus on long-term edge, not short-term streaks.