You won’t go very far if you don’t understand odds. I don’t really understand them, and that’s probably why I am not The Unquestioned Lord and Master of the Universe (yet).

However, here’s what I do understand:

• Odds come in three types: decimals, moneylines, and fractions. I’d go into a whole long explanation of each of them, but another of the many benefits of online sportsbooks is that they nearly always come with a calculator to go from one to the other.

All you really need to know is that they tell you what you’ll win, depending on what you bet (also called the “stake“). The different types of odds all do this in a slightly different way, and you’re welcome to learn more about them if you like, or about online slots if this entire subject is boring you.

I generally just switch everything to fractions to make it easier on myself. Therefore, 1/1 is an even bet, 1/2 will give you your stake plus half again, and 2/1 will double your money. Easy enough, right?

• Well, I promised that I’d explain point spread and I’m a man that honors many of my promises whenever it’s convenient. A point spread is simply the difference between a proposition bet (i.e., betting whether something will happen or not) and betting on a range of possible results.

In the most common type of point spread, you have a favorite and an underdog. While the smart money proposition bet will always be on the favorite (you’re quite likely to win more more often than you lose the bet), the point spread bet makes the chances much closer to even. This is what separates point spread gambling from parimutuels and ‘fixed-odds’ betting (such as most of the games at an online casino USA).

So a point spread bet will allow the underdog a certain number of points. If the underdog loses by less than that number, the bettor still wins the wager. And that’s all you need to know about point spreads!