If you are new to sports betting, you might be wondering what you should know to get started. Before you place your first bet, learn as much as you can about the process. Sports betting is a gamble, and the odds are always stacked against the party placing the wager. This means that it is important to set reasonable limits for yourself and stick to them. You should also stick to safe investments until you are familiar with the game.

In sports betting, there are two main types of bets: the favorite and underdog. A favorite is a team with the highest probability of winning, while an underdog has the lowest probability of winning. Although the risk is higher, the potential return is higher for betting on the underdog.

While winning at sports betting is possible, you should keep in mind that it takes a lot of work and time. Successful sports bettors spend time studying team trends and betting on the outcomes of sporting events. They also spend time shopping for the best odds and researching matchups. While you may win a couple of bets, only a small percentage of bettors turn a profit in the long term.

Another way to make money at sports betting is by placing a parlay bet. A parlay bet is a series of bets in a row. In order to win, all of the bets in the parlay must win. Parlays are more complicated to predict than random regular season games, and the payouts are often much higher.