If you want to bet on sports, there are several different ways to go about it. One popular method is by joining a pool or fantasy league. These are often organized by friends and co-workers, but you can also find larger-scale versions run by Internet-based companies. Pools usually involve making predictions for a tournament or week’s worth of games. Fantasy leagues, on the other hand, involve picking actual athletes to represent teams.

Sports betting has two main types of bets: the favorite and the underdog. A favorite team has a better probability of winning, and therefore comes with a higher return than the underdog. Underdogs, on the other hand, are considered a higher risk. While the risk is higher, the potential reward is greater. You can also bet on an even-money team.

Another type of bet is the halftime bet, wherein you bet on a team before the first half has finished. You place your bet on one of the teams, with the oddsmaker adjusting the odds according to the first half’s score. Those who are familiar with sports betting may know the term “backdoor cover,” which refers to a team scoring unexpectedly to cover the spread. Another common term for betting on a game is the “bad beat,” which refers to losing a bet when you should have won. This is common when the betting result comes down late in the game, such as a game on the river.

Another betting format is head-to-head, which focuses on the results of competitors against each other instead of the overall event. Many Formula One races, for example, allow you to bet on two or three drivers at once, or on the overall placing of the drivers. You can even place bets on ties – for instance, if both drivers finish in the same position, or if one driver drops out or the other gets disqualified.