Official betting refers to a type of sports wagering that takes place at a licensed sportsbook, online or at an actual brick and mortar location. It is legal in many countries and most states.
The most common forms of sports betting involve betting on the outcome of a sporting event. These bets can be on competition or tournament outrights, win totals (e.g. the Denver Broncos to win the Super Bowl), regular season points, and player prop futures.
Odds change continuously and often are not fixed. They are determined by the share of the total exchange of each possible outcome that has been received from a bookmaker offering the bet. In other words, the more money a bettor bets on a certain result, the less likely that it is to occur.
Money lines are also constantly changing and are usually based on the starting pitchers for each game. The listed money line may not match the one you see when you make your bet, but it is still a good place to start.
Dime lines are slowly disappearing as sports books look to maximize their profits during the slowest part of a sport’s season. These are not as reliable as money lines, but they can be helpful for those who don’t have much experience betting on sports.
A variety of wagers can be made on horse races, including exactas, quinellas, and trifectas. These bets typically pay more than the winning ticket and can be quite difficult to pick correctly.