Video Summary

For those new to sports betting, it can be overwhelming, but understanding the basics can make all the difference. Sports books use various terminology to make themselves sound like experts, just like a doctor, lawyer, or accountant. They provide three main formats for displaying betting odds: American, decimal, and fractional. American odds show the amount you need to wager to win $100, while decimal odds display the total money you'll receive. Fractional odds show the ratio of the amount you'll win to the amount you wager. To find the favorite, look for the negative sign in American odds, a number less than 2.0 in decimal, or a smaller numerator in fractional odds. Most sports books allow you to change the default format to your preference.

There are three main betting markets: moneyline, point spread, and totals. A moneyline bet predicts which team will win, with less complexity and often more value to be found. The point spread is a wager on the margin of victory, commonly used in high-scoring sports like the NBA and NFL. A totals bet, also known as over/under, predicts the total number of points scored in a game, with no relation to the actual result. By understanding these basics, you'll be well on your way to making informed sports bets.