Before betting on a sports event, you should know the odds and how the sportsbooks set them. The odds are calculated according to the probability of the event happening. If an event is very unlikely to happen, the odds will be low, while those with a high probability will be high. Higher risk events also pay out more. However, you should know the difference between true and implied chances.

If you’re new to sports betting, you can start by registering at a sportsbook that offers a great opening bonus. Sugarhouse, for example, offers free play for deposits up to $250. These introductory offers are great for building your bankroll. Also, be sure to shop around at several sportsbooks.

The point spread is a popular way to bet on sports. In most cases, a favored team needs to win by at least one point in order to cover the point spread. Typically, point spreads range from 11 to ten points. If the favored team wins by 10 points, the bettors will win $11 for every ten points that they bet on.

Another common type of wager is an under/over bet. Under bets require less risk while over bets require more risk. Under bets can work well if the favorite is injured or has a lower chance of winning.