Sports betting is a great way to watch your favorite teams play and make money at the same time. However, it’s important to understand the rules of the game before you place your bets, especially if you are a new bettor.

There are several things you should know before betting on sports, including how to bet, the odds and the different types of bets that are available. Knowing these factors will help you make smarter bets and increase your chances of winning.

Odds are a key factor in determining the value of a bet, and they fluctuate as the game progresses. They are also influenced by injuries, weather and more. This can make it more difficult to predict the outcome of a matchup, but if you do your research you can find bets that offer you the most value.

Favorites and Underdogs are two of the most common types of bets. The favorites are the sides that have a higher probability of winning, and the underdogs have a lower probability. This means that the return from a bet on a favorite is typically smaller than one on an underdog, but it’s still possible to win big by choosing the right team.

Totals are another popular type of bet. These bets allow you to predict the number of runs, goals or points scored by a team during a game. The more you predict the total, the more likely you are to win a bet.

In some states, the amount you can wager is limited by law. In others, you can bet any amount you want as long as it’s legal for you to do so.

The first step in betting on sports is to create an account with a reputable online sportsbook. You will need to provide your name, last four digits of your social security number and a valid email address. Once your details have been verified, you will be able to place your bets with ease.

Before making a bet, you should consider your personal preferences and the type of sport you want to bet on. Many online sportsbooks offer multiple bet types and a variety of different markets, so you can choose the best one for your needs.

Bettors should consider the odds, bonus offers and promotions when deciding which sportsbook to sign up with. They should also check to see if they have any restrictions, such as age or location, that might limit their ability to bet.

If you are a beginner, it’s best to start with a small bankroll and bet less than you can afford to lose. This will give you time to adjust your strategy and prevent impulsive, emotion-driven bets that can drain your bankroll.

Once you have your bankroll set up, you should determine how much you can wager on individual bets. This amount will depend on your level of confidence in the bet and your budget. A general rule is to risk about 1-5 percent of your bankroll on each bet.