Sports betting is a huge industry that is growing rapidly as anti-gambling stigma fades from popular culture. However, it isn’t easy to make money consistently with this type of wager. It is important for a beginner to understand the basic concepts behind this type of wager.

There are a few different types of sports betting bets available, including straight bets, parlays, teasers and totals (over/unders). A straight bet is the most common type of bet and is placing a bet on a single outcome. A parlay is a bet on more than one game and has a lower payout than a straight bet. A total is a bet on the combined number of points scored in a game and can be placed on both sides of the spread.

Another popular form of sports betting is futures bets. These bets are placed on things that will happen in the future, such as who will win a championship or award. These bets typically have a much higher margin of profit than standard bets because they are based on the future performance of a team.

A good rule of thumb is to only bet what you can afford to lose. It is also important to have a budget and stick to it. This will help you avoid big losses and keep you from chasing your money after a bad beat. It is also helpful to keep track of your bets in a spreadsheet, which will show you the areas where you are losing and winning.