Sportsbet is an online bookmaker that offers punters a variety of betting options. It has over 1500+ different events and markets to choose from, including NFL, MLB, NBA, NHL, horse racing, cricket, and more. It also has an easy-to-use app that lets you bet on your favourite sports and teams. In addition, it offers a wide selection of betting odds and payouts.

Odds are a number that represents the likelihood of an outcome occurring. The higher the odds, the more likely the event will happen. However, it’s important to remember that the odds are just a prediction and not an actual calculation of the probability of something happening. In order to make money, you need to bet smartly. This means making value bets, which are those that have a lower risk and higher profit potential.

In terms of sports betting, a team will usually be considered the favorite if they have a better record or more star power than their opponent. This is why some teams are favored to win, even if they have a poor record. However, a good sportsbook will adjust their odds to avoid taking too much action on one side or another.

As a result, the minus will often stay around -110, which means that if you bet $100 on the favorite, you’ll only win $110. This is known as the juice or vig for the sportsbook, and it helps to keep them in business. The overall goal is to receive equal amount of money on both sides of a bet. If a sportsbook can’t get this balance, they will raise their line (from 10.5 to 11, etc) until they receive even money on both sides of the bet.