If you like to place wagers on sporting events, you may want to know how the odds are calculated and how to make money with them. A sportsbook prices its odds to reflect the probability of an event. In other words, if you bet the favorite team to win, the odds will be lower than those of the underdog team. Using the point-spread, you can expect to win 50% of the time on moneylines and point-spread bets. However, if you bet on the underdog, you’ll likely have a much higher win percentage, but it will be much more difficult. In addition to this, you should be aware of the vig.
A sportsbook needs to be well capitalized to make money. While they can’t guarantee equal action on both sides, the law of large numbers ensures that they’ll make a profit. The laws about betting on sports differ from jurisdiction to jurisdiction, but the Supreme Court’s decision is catalyzing a change in sportsbook laws across the U.S., so you may want to check with your local state laws before you make your first bet.
A free bet is another form of a bonus offered by some online sportsbooks. You can get a free bet equal to your first cash bet by opting into the Bet Match promotion. To qualify, you’ll need to register at an online sportsbook. Once you sign up, the money will appear in your account within 72 hours. However, you cannot withdraw the money until you have met the requirements for the bonus. There are also wagering requirements you’ll have to meet.