Sports betting is the practice of placing a wager on the outcome of a sporting event. It is legal in some states, though many people still place wagers through illegal bookies or with friends and family members. Its popularity is attributed to a growing acceptance of gambling in general, intense media coverage of sports events and the advent of new technologies that make wagering easier and more convenient.

Those who win at sports betting most often do so by making smart bets that are based on the odds and probabilities of an outcome. A sportsbook’s profit margin, which is the amount that it takes to cover all bets, is built into the odds by incorporating its commission, or vig. Vig is a necessary component of sports betting because bettors lose money more often than they win. A savvy bettor can learn how to minimize their losses and maximize their wins through discipline, research and seeking advice from winning sports bettors.

The most common form of sports betting is straight bets, which are bets on the result of a single game. Straight bets can be placed at online and land-based sportsbooks, as well as over the phone or in person. A sportsbook’s potential payout is shown on a bet slip, and may include the amount wagered (for example, if you bet $10 to win $50, the potential payout would show $60). Some sportsbooks display the odds of a straight bet in decimal form rather than fractional, which makes it easier to compare odds.

Over/under bets are another popular type of sports bet. These bets are based on the total number of points scored in a game, and they can be placed before or during the action. For example, if you think the Eagles will score more points than the Cowboys, you can place a bet on the over/under at FanDuel. However, be sure to shop around for the best odds. Different sportsbooks have different clienteles, so one may offer better lines on certain bets than another.

Novelty props are special bets that are a fun way to add some extra excitement to a sporting event. These can range from the length of the national anthem to the first song that the halftime artist will perform. They are usually reserved for big events, such as the Super Bowl, and can be quite lucrative if placed correctly.

Some people have a knack for sports betting and can maintain profitability, but becoming a professional bettor requires a significant investment of time and energy. This includes researching picks, bet tracking, bankroll management and more. In addition, it is important to bet sober, as emotions can lead to bad decisions. Finally, be sure to avoid scams by reading reviews and checking Better Business Bureau ratings before depositing any money. It is also a good idea to sign up for a free trial of a sports betting service before committing any funds. This will give you a chance to test the waters and see if it is something you want to pursue full-time.