Official betting can be a great way to place wagers on sports without getting ripped off. It’s a relatively new form of betting that is quickly growing in popularity and there are now several options available to bettors.
Generally, betting odds are listed on an outcome and the team with higher odds is considered a favorite while the underdog is marked with a negative sign. The odds are usually updated in real time according to the percentage share of money that each possible outcome receives from bettors.
Betting on a horse racing event is a common type of sports betting. Bettors can place bets on the winner of a specific race or on the first two, third or more finishers in a series of races.
There are also a variety of totalizator bets that allow you to bet on multiple outcomes. These include exactas, quinellas, trifectas, trifecta boxes and superfectas.
The most popular types of sports bets are the ones that are available at all major online casinos and sportsbooks. These include NFL betting, NCAA football betting, MLB betting, NBA betting and NHL betting.
These bets can be made on a game that is currently in progress or on an event that will be taking place later in the day or in the future. There are a number of different wager types and each has its own rules and limitations.
Typically, the wager must be placed on the winning team and will only pay out if the team wins the game or if it scores the most points. There are some exceptions to this rule, including player prop bets and futures.