While sports betting can be a lucrative endeavor, you can also lose money. While there are some betting strategies that can help you avoid losing money, you should always remember that you will have good and bad days. One of these approaches is to take a flat-bet approach, where you risk 1% to 5% of your bankroll per play.

Tie bets

A tie bet is a bet that doesn’t produce a winner or a loss. This is the most common type of bet, and it is also known as a push or mulligan. When a tie occurs, the loser gets his stake back. However, the tie can still affect the odds on a parlay bet.

Moneyline bets

If you’re new to sports betting, you may not be familiar with moneyline bets, but they can be an excellent way to make money. They have lower vigs than other types of bets, usually four to five percent of the bet amount. Moneyline bets are usually opened a few days before a game. A book known as the market setter sets the line, and other sportsbooks copy it.

Prop bets

Prop bets are wagers that are not related to the final score of the game. They are also called proposition bets. They are graded just like other bets and have the same rules. However, there are some important differences between a prop bet and a traditional bet. First, prop bets do not have as much betting volume as other bets. As such, their odds are usually in moneyline odds. For example, a $100 prop bet has odds of -135.