Official betting is a way to bet on the outcome of a sports game and get paid for it if it happens. A sportsbook will settle your wager based on the odds and totals that were set at the time you placed your bet. It will not entertain any claims for changes in the numbers after you place your bet, except in certain cases (such as a team that does not finish a game) that have a significant impact on the outcome of the game.

Almost every sport in the world has an official betting market that allows bettors to place bets on that specific sport. For example, there are markets for baseball, basketball, hockey, golf, and soccer. In addition to these markets, there are also specialized bets, such as daily doubles, superfectas, and parlays.

A bettor will usually place one bet on the favorite team, and another on the underdog. This allows them to win both bets, even if the favorite wins by a large margin or the underdog pulls off an upset.

Money lines change frequently. Typically, a money line will be updated at least once during a game.

Spreads are calculated by taking a team’s points-per-game average and subtracting them from the other team’s. A team with a better average will be considered the favorite and have a lower point spread.

Over/Under bets are calculated by adding or subtracting totals. For example, if a team scores 50 points or more, they win the over; if they score fewer than 50 points, they win the under.