Betting is a popular activity that can add an extra layer of excitement to sports. However, it can be difficult to understand all of the terminology and how different bet types work.

Understanding betting odds is a key first step to becoming an informed sports bettor. Odds represent the probability of a particular outcome in a game or event, and they can be used to determine whether a bet has positive expected value or negative expected value. Positive expected value bets are profitable over the long haul, while negative expected value bets will lose money in the short term.

Generally, people pay more attention to teams at the top of their league, which leads to more betting dollars flowing toward them. This can create opportunities for underdogs, who may be able to sneak away with some value as the masses fawn over heavy favorites.

Another great way to find betting values is through prop bets, which are specific outcomes that can win you a large payout if you correctly predict them. These can include things like how many points a team will score or how many yards a player will gain on the field.

Another important consideration when placing a bet is the amount of money that will need to be paid out to winners, which is calculated by subtracting the number of losing bets from the total amount of money wagered. While some sportsbooks will post user reviews, it is always best to investigate each site and its offerings on your own.