Whenever there’s a minus (-) in front of the odds it means you'll have to bet more than the initial state in order to win that amount. To keep the confusion at a minimum we’ll focus solely on American odds. Decimal odds are used in large parts of the world such as Europe and Australia while fraction odds are typically used in the UK and Ireland. There’s also American, decimal and fraction odds. Computer algorithms, advanced mathematics and power rankings are just a few different components that determine who’s going to be the favorite (-) and who’s going to be listed as the underdog (+). Odds are typically formulated by a variety of different factors. Understanding betting odds are an essential part of understanding sports gambling of any kind. A proficient gambler will consider injuries, travel situations, revenge narratives and other factors on both sides before placing a point spread bet on either side. Point spread betting is best suited for skilled bettors who have profound knowledge of the two teams in the contest. Long term profits are secured by betting the books on standard lines near -110. This gives equal un-juiced lines to the favorite and the underdog in this spot. Most sportsbooks will have each side set odds close to -110 on both sides. One of the reasons point spread wagering is also the most enticing way of betting NBA is because of the odds. The margin, also referred to as the ‘spread’, is the number of points either team has to cover in order to win.Īs mentioned earlier, point spread betting in the NBA is the most popular wager type of NBA bettors. In soccer, this is typically displayed in what is called a three-way line.Essentially, you’re predicting the team that’s the favorite will win by the margin set by the bookmakers or the team that’s the underdog to not lose by that same margin. Sports like soccer and formerly hockey frequently have ties. That’s one of the upsides of betting moneyline. Standard point spread bets won’t offer odds like that. Anyone who put down money on Oral Roberts on the moneyline would have won nine times their bet. For example, in the 2021 NCAA Men’s Basketball Tournament, No. However, betting on underdogs on the moneyline can have big payouts. The risk/reward for betting on Alabama -10000 against Duke may not entice many bettors. So if you find a spread is -7 and the moneyline on the same team is only -300, there might be value there. For example, an NFL team favored by seven points is typically somewhere around -350 on the moneyline. Hockey, soccer, and baseball won’t often see spreads of more than one or two, so moneyline bets and the wider variety of odds that come with them become more appealing.Ī more advanced technique is to see how the spread and the moneyline are correlated. The correlation between the two types of bets is true across all sports but applies most in higher-scoring sports like football and basketball. Point spreads exist as a way to create a competitive, balanced bet because almost everyone would expect Alabama to beat Duke (and they did, 42-3). In that game, Alabama was favored by 34 points. You won’t see Alabama at -10000 against Duke on the moneyline and only favored by 10 points against the spread unless someone made a big mistake at a sportsbook. There’s a clear correlation between moneyline and point spread lines. Games like these with such an obvious favorite sometimes won’t even get listed at sportsbooks. So if you bet $100 on Alabama, you’d have won a single dollar. The Crimson Tide were -10000 on the moneyline while Duke was +2000. That’s even more true for baseball, where results are less predictable on an individual game basis.Ī more extreme example is Alabama’s 2019 season opener against Duke. Most games will see closer odds between the two teams. These odds are somewhat extreme for football, given the polar opposite talent level of the teams in the standings. If someone put $100 on the Chiefs, they would win $28.57 in profit. Conversely, a bettor on the Bears would make $245 in profit if they bet $100. The -350 odds mean a bettor would have to bet $350 to win $100. In the above example, the Kansas City Chiefs are a strong favorite against the Chicago Bears.
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