Sports betting has been legal in the United States since the Professional and Amateur Sports Protection Act (PASPA) was overturned by the Supreme Court in 2018. The ruling was a major step forward for gambling in the country, and it has opened up many new opportunities for bettors.

Some of the most popular types of wagers are based on statistical totals and runlines. These are calculated by taking into account the number of innings played. For example, moneylines on a baseball game become official once the teams have thrown five innings. However, wagers on the over/under or team totals don’t have action until the teams have thrown nine or 8.5 innings.

Other betting options include wagers on specific players. For example, a wager on a player’s HR count can be made only after they’ve hit four home runs during the game.

Another type of bet is a “totalizater.” This is an option for bettors who want to place a bet on all possible outcomes. In totalizators, the odds change in real time depending on how much money is being bet.

A variety of horse racing wagers are also available, including wagers on exactas, quinellas and trifectas. These wagers involve picking the first two finishers in the correct order, and can pay out huge sums of money.

Several states have officially launched sports betting in the United States, including Arizona and West Virginia. These two states are among the earliest to go live with online and mobile wagering. They also have a variety of operators, including DraftKings, FanDuel and BetMGM.