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A great place to start is with a moneyline bet, which is simply the odds of a team winning a game. This bet type is easy to understand, and can pay out a large amount of money for a small wager. Odds will tell you how much a team is expected to win, and the odds can help you determine whether or not a bet has value.
Over/Under totals are another common type of wager. They predict how many points a team will score during a game, and offer different payouts depending on the direction of the bet. Many sportsbooks will offer a main over/under line, but will also provide lots of alternate totals that skew the odds in different directions.
Futures bets are placed on events that will take place during a season, and can often be very profitable if you get them right. However, they can also be risky because you’re betting on something that hasn’t happened yet. A good rule of thumb is to only risk 1% to 5% of your bankroll per play. This will ensure that you don’t lose too much money if your bets don’t go your way.