Official betting is a term used to describe wagering on a sport or team at a licensed online sportsbook. This form of gambling is legal in more states than not and can be a great way to make some cash on your favorite teams or players.

There are many different types of sports bets, but the most common are spread betting and moneyline betting. You can also bet on point totals, which are calculated based on total points scored during the game.

Depending on the type of sport, there may be other wagering types, such as futures and prop bets. These can include competition or tournament outrights, regular season win totals and player prop futures.

A good place to start is by checking out a site’s how-to section for the specific type of bet you want to make. This will help you get the hang of what’s involved and ensure you can make informed decisions when placing your bets.

For example, if you’re betting on the NFL, you’ll want to know about key numbers like EPA and how they affect team performance. You’ll also want to read up on the game’s history and important statistics to help you make better bets.

Live betting is also very popular in the NFL and can be a great way to watch your team in action as they make adjustments and gain momentum. This type of betting can be more volatile than pregame betting, so it’s best to stay on top of what’s happening and make smart, informed bets.