The first step in betting on sports is to determine the type of event you plan to bet on. If you are a novice, a simple over/under 6.5 receptions bet on Julian Edelman might be your first bet. Proposition bets on players usually carry lower limits, but are a good introduction to gambling. Proposition bets can also be made on wacky propositions, such as which team will score more touchdowns during Super Bowl XXXV.
In general, the underdog is the more profitable option. This is because they are expected to lose. A $100 wager on an underdog can earn you a $200 win or a loss of $100. All sports have moneylines, but are most popular in lower-scoring events. Similarly, the total (also known as “over/under”) is set by oddsmakers to determine how many points a given team is expected to score. In the same way, betting on the underdog may give you a higher payout, but is more risky.
Prop bets include creative bets on events. One famous example is a bet on the time taken for the national anthem at the Super Bowl. The singer completes the anthem in one minute and 59 seconds, so if she finishes in less than two minutes, the under bet wins. Some states do not allow prop bets, so it’s advisable to check with your local gambling laws before making your bets.