Josh Appelbaum

Betting on favorites and underdogs to win or cover the spread isn't the only way to bet on a game. In addition to setting the line for favorites and underdogs, oddsmakers also set a line on the cumulative amount of points, goals or runs scored in the game by both teams combined. This is called the total, which is more popularly referred to as the “over/under” or simply the “O/U.”

After the spread, the second most popular way to bet on a favorite or an underdog is on the moneyline, also known as the "ML" for short. The moneyline is only based on which team will win straight up. The margin of victory does not matter. It could be 1 point or 100 points, all that matter is winning the game.

After the spread, the second most popular way to bet on a favorite or an underdog is on the moneyline, also known as the "ML" for short.

​For every game, regardless of the sport, the oddsmakers first must decide which team is the favorite and which team is the underdog. Many factors go into the process. It’s not as simple as the team with the better record being the favorite. Things like home-field advantage and injuries can help the oddsmakers decide that one team is more likely to beat the other on any given day._x000D_ _x000D_

No one becomes a sports betting expert overnight. It takes months, if not years, to turn from a rookie bettor into an experienced veteran. The first step is learning how sports betting works and understanding some of the language and terminology that bettors use. _x000D_ _x000D_