Sportsbook Odds & Lines Explained
The most popular odds among American Bookmakers and gamblers are moneyline odds; this is why you will often hear moneylines referred to as American odds.
When dealing in American odds the odds are represented by either a positive or a negative number. A negative number indicates the favorite and a positive number indicates the underdog. When betting on the favorite the negative number will indicate how much you will have to risk to win $100. For example, if the line is -140, you will be required to risk $140 for every $100 you wish to win. When betting on the underdog the positive number will indicate how much money you will win by risking $100. For example, if the line is +120, you will win $120 for every $100 you risk. A standard line is listed as -110, this means that neither team is favored to win.
Fractional numbers represent Fractional Odds. These are easy to read and understand. The numerator (the number before the /) represents the amount of money you will win by risking the denominator (the number after the /). For example, if the odds are 5/1 you will win $5 for every $1 you risk. If the odds are 5/6, you will win $5 for every $6 you risk. The standard line where no favorite is indicated will be listed on 10/11.
Decimal Odds are a little different from the others because they represent the total payout, including your risk amount. For example, if you see decimal odds of 3.0 the same odds in fractional would be 2/1 or +200 when converted to American Odds. The standard line where no favorite is indicated will be listed as 1.91.
Point spreads are a bookmaker’s way of evening out to mismatched teams. A bookmaker will assign a negative number to the favorite and a positive number to the underdog. At the end of the game, these numbers will be used to adjust the team’s final score.
In this example, a wager on Buffalo is a winner if Buffalo wins or loses by 5 points or less. A wager on New York is a winner only if New York wins by 7 points or more. If the final score has New York winning by 6 the wager will be graded as a push and bettors will have their wagers returned.
The moneyline is a bet on which team you think will win straight up. In order to even the action on both teams, bookmakers will charge more for bettors to take the favorite and offer more rewards for bettors who take the underdog.
In this example, a bettor who takes the favorite Detroit will be required to risk $160 for every $100 they want to win but by taking Kansas the bettor will win $140 for every $100 they risk. In the event of a tie, all wagers will be returned to the bettors. Please note that in certain sports such as soccer where more ties occur bookmakers will offer a third moneyline option, allowing bettors to bet on a tie occurring. In this situation, if the game ends in a tie, bettors on Kansas and Detroit will be losers and anyone who wagered on a tie will be graded as a winner.
The total allows you to predict whether the final combined score of both teams will be over or under the listed number.
In this example, if Miami and Texas score a combined total of 47 points or more all bets on the Over 46 will be graded a winner and any bets on the under will be graded a loser. If the teams score a combined total of 45 points or less the reverse is true. If the teams score exactly 46 points, the result will be a push and all wagers will be returned.
Props are wagers that are placed on portions of a game that is not directly related to the final score of an event. Prop wagers can be on anything from portions of a sporting event such as how many touchdowns will a certain team score or the result of a reality TV show or an election.
Future wagers are singles wagers on future events such as the Super Bowl Odds or World Series.