Whether it’s the Super Bowl, March Madness or an NFL game, sports betting has become one of the most popular ways to wager on sporting events. But before you place your next bet, it’s important to understand the fundamentals of sports betting and the many different types of bets available.

The first thing to remember when placing a bet is that all bets are placed with cash. Sportsbooks don’t accept credit or checks. This is to protect the book from losing money in the event that a winning bet is rejected or not honored. The good news is that bettors can make as much money as they want in a sport or event, but they must always be smart about their betting.

A common way to bet on a team is by placing a money line bet. This type of bet is similar to a straight bet, but the payouts are calculated based on how many points the team wins by. Money lines are more common in baseball and hockey because games can often be decided by a single run or goal.

Another popular way to bet on a team is through a totals bet. A totals bet is a bet that takes into account the number of points scored by both teams. This bet can be made on any sport, and it is adjusted throughout the year based on how the teams are performing. For example, a team’s win total may be set at 8.5 before the season begins, and as the season progresses the total could move higher or lower depending on how well the team is playing.

In addition to totals bets, sportsbooks also offer futures bets. These bets are long-term bets on a specific outcome for an entire season, such as the champion of a particular league or tournament. These bets are offered all year, and payouts are reduced as the season progresses and it becomes more difficult to predict a winner.

When making a sports bet, it is important to separate yourself from your fandom and learn as much as you can about both teams. This includes studying not only their statistics, but any injury or other information that might impact the game. It is also helpful to avoid letting your emotions get the best of you. If you’re rooting for a certain team, it can be tempting to bet on them based on their uniforms or mascot.

Finally, don’t forget to shop around for the best prices. This means checking out the pricing of each sportsbook’s vig, as well as their featured markets and props. This will help you find the lowest vig and maximize your potential winnings. In addition, it’s a good idea to focus on teams and sports you know the most about. This will save you time and money while reducing the risk of a bad bet.